Daily News Feed 09/06/2024 Genesco Improves Sequentially with Signs of Life at Journeys
Sequential improvements from mall retailer Journeys were a bright spot in GCO’s second quarter, where the net loss narrowed to $9,992,000 from a loss of $31,665,000 on revenues that inched higher to $525,188,000 from $523,027,000. Zumiez Q2 Results Improve as N.A. Comps Rise High-Single Digits
The global retail group, which operates under the Zumiez, Blue Tomato, and Fast Times banners, narrowed its Q2 net loss to $847,000, 90% better than the year-ago loss of $8,509,000. Lids Emerges as Bidder for M-Den
Bankrupt University of Michigan athletics’ official merchandise retailer Heritage Collegiate Apparel, Inc., doing business as The M-Den, named Lids Holdings as stalking horse bidder, agreeing to pay around $4.3 million for the bankrupt retailer’s assets. NICS Checks Up Again in August
NSSF-adjusted NICS FBI background checks increased 8.3% last month to 1,210,995 from 1,117,821, improving for the second consecutive month. Etcetera: Under Armour, 5.11 Tactical, Hanesbrands, Cotopaxi, TriStar Arms
09/05/2024 Shoe Carnival Grows Mid-teens, Lifts Guidance
Net income was up 16% to $22,573,000 from $19,441,000 on revenue that improved 13% to a quarterly record $332,696,000 over $294,615,000 for the second quarter ended Aug. 3, benefiting from a favorable calendar shift of about $20 million out of Q3. Tilly’s Profits Pressured by Higher Wages
Net loss narrowed to $69,000 from last year’s $1,125,000 of red ink for the second quarter on sales that were up 2% to $162,867,000 from $159,951,000, getting a boost from the calendar shift as blended comps fell 7.8%. Smith & Wesson Sales Tumble 23%
The bottom line turned red in the fiscal first quarter ended July 31, as SWBI swung to a loss of $2,106,000 from a profit of $3,118,000 a year ago, on 23% lower revenues of $88,334,000 down from $114,243,000. American Outdoor Brands Guides for FY Growth
Turning in another difficult result, AOUT’s net loss was $2,365,000 in fiscal Q1 ended July 31, an improvement from last year’s $4,113,000 loss, while sales fell 4% to $41,643,000 from $43,445,000. Canada Goose Sees Wholesale Inflection Point
The wholesale channel reset is nearing completion while GOOS’ “Retail 101” reforms are underway in the rapidly expanded owned-store fleet, the company shared at Goldman Sachs investor conference, alongside the ongoing marketing push and corporate cost reductions. Newell Outdoor Sees Room for Growth at Coleman
NWL’s Outdoor and Recreation segment, which is the company’s smallest in terms of revenue and profit, has taken the most amount of work to turn around, president and CEO Chris Peterson commented at the Barclays conference. G-III Apparel Inks Converse License
The Donna Karan and Karl Lagerfeld parent has signed a license with the Eager Beavertons to make and sell Converse apparel, aiming for $200 million of annual sales in the long run.
SKX filed suit in S. NY district court against Rockport, parent Authentic Brands Group, and its licensee for Rockport in the U.S., Marc Fisher Holdings, for infringing on a patent related to the successful Hands Free Slip-ins franchise.
Delta Cycle is recalling about 28,530 ceiling hoists with straps used to store bicycles, kayaks or canoes, because the plastic buckles on the straps can break. Etcetera: Adidas, Elan, IFit, Fossil, Macron, Lotto
09/04/2024 Dick’s Q2 Profits Surge Higher, Raises Earnings Guidance
Building on first quarter momentum, net income jumped 48% to $362,230,000 from $244,331,000 on 8% higher revenues of $3,473,635,000 up from $3,223,643,000, including 4.5% comp store sales growth that reflected a 3.5% higher average ticket and 1.0% more transactions. Foot Locker Customer Prioritizes Discretionary Spending on Footwear
Despite a projected similar consumer environment in H2 where its typically younger and lower-income customer remains under pressure due to a handful of economic variables, Big Foot will maintain the gameplan it has formulated over the last two years under CEO Mary Dillon.
MODG announced that its board of directors will pursue a separation plan to spin off its Topgolf venue business from the legacy Callaway golf equipment and smaller branded apparel businesses. Skechers Sees Comfort Technology Powering Growth
This year’s marketing ramp up amid macro consumer pressures converged for the recent recovery in domestic wholesale performance, based on CFO John Vandemore’s comments at the Goldman Sachs Global Retailing Conference. SFIA Appoints New President and CEO
The Sports & Fitness Industry Association appointed Todd Smith as president and CEO, effective Oct. 1, succeeding Tom Cove, who announced his retirement in May, after leading the organization since 2005. Eagle Nice Names New CEO, Executive Director
The sports apparel maker’s board elevated Chi Kit Chung to CEO, succeeding his father Yuk Sing Chung, who will remain chairman. Kästle USA Taps Poulin as New Chief
The Austrian ski brand appointed Steven Poulin as president and CEO, as Kästle aims to accelerate growth and introduce new categories. Etcetera: Gymshark, Bass Pro, Ariat, Adidas, Reebok, Newton Golf
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