January 11, 2023
Boosted by a strong performance from its U.S. Finish Line, DTLR Villa and Shoe Palace banners, and more than 20% total Holiday sales growth globally, JD Sports now expects full-year profit before tax and exceptional items to come in at the high end of its £933 to £985 million guidance.
The Chinese sportswear giant blamed weak results in the final quarter on lower foot traffic and negative consumer sentiment due to the pandemic, but is hopeful that the PRC’s easing of Covid-mitigation will boost consumption this year.
Net income at the Japanese retailer contracted by 12% to ¥298 million ($2.3 mm) in the fiscal first quarter ended Nov. 30, from ¥338 million last year on revenues that inched up 2% to ¥13,557 million ($103.2 mm) from ¥13,232 million.
A year after S&P Global put the clogmaker on CreditWatch Negative due to the huge amount of debt taken on to buy Heydude for $2.5 billion, the ratings agency has revised its outlook to stable.
The Big a will wind down its north-of-the-border HQ in Woodbridge, Ontario, and relocate Canadian oversight to its North American headquarters in Portland, OR, Retail Insider first reported.
The streetwear e-tailer and digital media company’s plan to list on Nasdaq by merging with the Iron Spark I special purpose acquisition company has been abandoned, after the deal could not be completed by Dec. 28.
The investment firm has acquired KASH CA, which owns the Freedom Munitions, X-Treme Bullets, Ammo Load Worldwide brands and LAX Ammunition retail locations, from owner Daniel Kash.