August 29, 2023
Net income dropped 33% to $19,441,000 from $28,909,000 in the second quarter on net sales that were down 6% to $294,615,000 from $312,268,000, including a mid-single-digit improvement at the Shoe Carnival banner, while Shoe Station stores saw a low-singles gain.
Net income attributable to shareholders fell 23% in the first half to HK$ 65,075,000 ($8.3 mm) from HK$ 84,486,000 on 17% lower revenues of HK$ 780,258,000 ($100.0 mm) down from HK$ 941,912,000.
The Fanatics-owned brand appointed Eli Kumekpor as CEO, succeeding Kevin Wulff, who is retiring after leading the company for seven years.
Mort Finkelstein, who grew his family’s clothing store into regional sporting goods powerhouse, MC Sports, with over 70 stores in seven states at its peak, passed away Aug. 17 at age 93.