August 31, 2023
Net income improved by 18% to $341,603,000 in the second quarter from $289,521,000 prior, on a similar increase in the top line to $2,209,165,000 from $1,868,328,000, including a +11% blended comp for both online and offline channels.
Net income declined 17% in the second quarter to $157,075,000 from $188,801,000 a year ago, as revenues slipped 6% to $1,583,077,000 from $1,686,915,000, and comps fell 7.5%, but improved sequentially though the period.
Journeys’ parent Genesco is maintaining its view on its FY24 outlook despite some Q2 improvement within the teen footwear business that reported results ahead of expectations for the period.
Net income at Caleres dropped 34% to $33,943,000 from $51,178,000 in Q2 on sales that were down 6% to $695,533,000 over $738,330,000.
Net results swung to a loss of $1,125,000 from income of $3,819,000 in the prior year on a 5% decline in sales to $159,951,000 from $168,308,000, that included 5% lower brick-and-mortar sales and a 3% drop in e-commerce to $30.2 million.
The second circuit appeals court denied disbarred lawyer Michael Avenatti’s claim that there was insufficient evidence to support his 2020 conviction for trying to extort $25 million from the Eager Beavertons, affirming the $259,800 restitution award to Nike.
The Canadian company is recalling about 3,900 Phantom electric scooters because a bolt can come loose causing the suspension and wheel assembly to separate.