May 25, 2022
Net income slid 28% in the first quarter to $260,559,000 from $361,756,000 on a 7% sales decline to $2,700,205,000 from $2,918,719,000 as DKS was the latest retailer to face tough comparisons with last year’s stimulus-fueled demand.
Famous parent Caleres’ net income soared eight-fold to $50,509,000 in the first quarter from $6,147,000 last year on stronger gross and operating margins as net sales grew 15% to $735,116,000 from $638,636,000.
The post-proxy war landscape for Kohl’s is starting to take shape as the embattled retailer laid out plans to act on its Investor Day strategies, while Reuters gleaned anonymous insights on downturns from potential buyers.
The U.K.-based athletic apparel and accessories brand had net income of £36,497,000 ($51.0 mm) in the fiscal year ended Jul. 31, 2021, up 47% from £24,792,000 prior, as revenues gained 54% to £401,946,000 ($562.2 mm) from £260,674,000.
Frasers Group offloaded Bob’s Stores and Eastern Mountain Sports in the U.S. to GoDigital Media Group for $70 million.
The U.K.-based parent of Finish Line and other banners has decided to accelerate the separation of the roles of chairman and chief executive officer.
Omorpho, the weighted sportswear maker, has closed on a $6 million funding round at a $26 million valuation, led by KB Partners, bringing its total funding raised to $13 million.
The Eager Beavertons, who temporarily closed their stores in Russia in Mar. after the invasion of Ukraine, has declined to renew contracts with two of its largest authorized Russian retailers, Vedomosti reported.