Daily News Feed 12/05/2024 Lululemon Betting on Resilient Demand during Holiday Season
With its international business growing strongly and its U.S. business projected to regain its mojo in 2025 fueled by more seasonal newness for guests, Lululemon reported solid Q3 results that included a 45% increase in operating income to $490.7 million and a 150-basis-point improvement in gross margin to 58.5%. Famous Footwear Hit by Weather, Calendar Shift Headwinds
Caleres’ net income was down 12% to $41,427,000 from $46,914,000 for the third quarter on 3% lower revenues of $740,941,000 compared to $761,904,000, hurt by weak boot sales and a $29 million calendar shift against last year’s 53rd week. Zumiez’ Rebound Continues into Holiday
Returning to profitability after a string of tough quarters, the teen retailer’s net income was $1,159,000 in the third quarter against a $2,231,000 loss, as revenues grew 3% to $222,475,000 from $216,339,000. Tilly’s Red Ink Deepens in Difficult Q3
Net loss widened to $12,875,000 from $847,000 on eroding margins as sales declined 14% to $143,442,000 from $166,475,000 for the third quarter, exacerbated by an $18.4 million calendar shift headwind. Smith & Wesson Sees Market Softness Continuing
Net income surged 65% in the fiscal second quarter ended Oct. 31 to $4,134,000 from $2,498,000 on 4% revenue growth to $129,679,000 from $124,958,000, a top line that missed the company’s own expectations. American Outdoor Brands Raises Guidance after FQ2 Improves
AOUT’s profit grew more than fourfold in its fiscal second quarter ended Oct. 31 against a slim $77,000 gain last year, on 4% higher revenues of $60,232,000 up from $57,931,000, boosted by growth in outdoor lifestyle and shooting sports. Amer Sports Prices Upsized Share Offering
AS now plans to sell 40,800,000 shares at a price of $23.00 per share, plus up to 6,120,000 additional shares in an underwriters’ option, with the closing scheduled for Dec. 6. Db Bags Scores LVMH Investment
The Scandinavian backpack and luggage brand received a minority investment from LVMH Luxury Ventures which will support its global expansion plans that include the U.S. and Asia.
Following Julie Legrand’s appointment as senior director of global brand strategy earlier this year, the Big Cat named adam&eveDDB as its new creative agency, with the first brand campaign launching this spring.
Academy Sports + Outdoors is recalling about 6,100 Redfield 12-gun and 18-gun fireproof safes because mechanical internal locking plates can fail to align, allowing the gun safes to be opened.
12/04/2024 Foot Locker Cuts Guidance after Q3 Loss
Impairment charges totaling $60 million pulled Big Foot’s bottom line into the red in the third quarter, resulting in a net loss of $33 million against a $28 million profit, as revenues slipped just over 1% to $1,961 million from $1,989 million. Newell Maps Outdoor’s Future, Girds for Tariffs
The company’s turnaround program for its outdoor/recreation has progressed more slowly than its other divisions, NWL told the Morgan Stanley Global Consumer & Retail Conference, but the category is looking healthy on regulation and tariff fronts. ThredUp Sells European Biz to Florin Filote
Filote, a veteran e-commerce executive, took the reins of Remix, the online resale platform’s European operation, last May and has now acquired 91% of the company for the price of €1. Etcetera: Rapala VMC, Skechers
12/03/2024 Dick’s Stocks Up to Capture Holiday Upside
Following up on last week's strong Q3 earnings report, DKS reiterated in a fireside chat at the Morgan Stanley Global Consumer & Retail Conference that it sees resilience and sustained demand from its consumer demographic. Skechers Sees Return to Double-Digit Revenue Growth
Early Holiday results are looking positive, mirroring year-to-date trends as conscientious consumers respond well to newness, SKX told the Morgan Stanley Consumer & Retail Conference, though the overall health of the season remains to be seen given a shorter selling window. Amer Sports Selling up to $1 Billion in Stock
AS launched a public offering of 34,000,000 shares of its stock, plus up to an additional 5,100,000 shares for an underwriters option. Jack Schwartz Shoes Secures Lee Footwear License
The Lugz, British Knights, and Ben Sherman owner, Jack Schwartz Shoes, inked a footwear license for Lee, the denim and casual lifestyle apparel label owned by Kontoor Brands. United Wheels Promotes Bruno Maier
The parent company of bike brands Huffy, Niner, Batch, and Buzz elevated Bruno Maier to president and CEO of United Wheels (UW) and the Huffy Corp.
The Eager Beavertons will sunset the non-fungible token virtual sneaker business acquired from Andreessen Horowitz in 2021.
Sales failed to pick up steam on Black Friday and during Thanksgiving week, contributing to total NSSF-adjusted NICS FBI background checks falling 5% last month to 1,514,773 from 1,595,476. Academy Opens Final Five Stores in 2024
Academy Sports + Outdoors has completed its 2024 fleet update with a total of 16 new stores across ten different states, including its initial entry in Ohio. FTC Orders Goat to Pay Consumers
The Federal Trade Commission ordered 1661, Inc. (dba Goat) to pay more than $2 million to consumers for violating reasonable shipping practices and to honor its buyer protection policies for consumers who received deficient products, many of whom were denied full refunds. Etcetera: Thermore, Zoot, Nike
|