Unifi’s Fiscal Q4 Revenues Drop 31 Percent
Unifi, Inc. reported a loss in the fiscal year ended July 2 as sales declined 30.7 percent. The maker of polyester and nylon textured yarns said results continue to be impacted by low levels of brand demand due to inventory destocking efforts.
EXEC: On the Call with Foot Locker Execs Talking Q2 Business Trends, Weaker Future Outlook
Foot Locker’s sales trends continue to be a real problem child as total sales and comps both registered high-single-digit declines for the quarter ended July 29. Much of the sales decline came from Champs which comped down in strong double-digits in the quarter on repositioning pain.
Nike CFO of Consumer, Marketplace & Brand Departing for Lysol’s Parent Company
Reckitt Benckiser Group named Shannon Eisenhardt, currently CFO of Nike consumer, brand & marketplace, as CFO of Lysol’s parent company, replacing current CFO Jeff Carr, who is retiring in March 2024. She joins RBG on October 17, 2023.
EXEC: Kohl’s Finds Active Category Continues “Soft” in Second Quarter
On Kohl’s second-quarter analyst call, Tom Kingsbury, CEO, said the overall active category remained “soft” for the retailer in the second quarter, but outdoor and golf trends were encouraging and Nike, Under Armour and Eddie Bauer showed strength.
Puma Makes Leadership Appointments in Europe
Puma has appointed Javier Ortega as general manager Europe, effective September 1. Esteve Planas will succeed Ortega as area general manager for Southern Europe.
Christy Sports Rebrands Sturtevant’s SkiBonkers to Powder Daze; Unifies Offerings
The decision to rebrand the Sturtevant’s sales event to Powder Daze is an effort by the retailer to amplify its legacy so customers across the country can participate in the sale.
Wolverine World Wide’s Debt Ratings Lowered by S&P
S&P Global Ratings reduced the debt ratings of Wolverine World Wide, Inc. as the footwear manufacturer continues to underperform its expectations with “tough industry headwinds to continue to pressure the company’s operating performance at least over the next several quarters.”
Urban Outfitters Profit Jumps 75 Percent in Second Quarter
Profits at Urban Outfitters, Inc. surged 75.0 percent in the second quarter ended July 31 as sales grew 7.5 percent and margins benefited from higher initial markups and lower markdowns.
EXEC: Anta Sports Gets Fila Lift in H1 as Sales Growth, Op Profit Margins Jump
The company, which runs retail stores in China for the Anta brand, Fila, Descente, Kolon Sport, and Amer Sports, reported that Fila brand retail sales posted 13.5 percent year-over-year growth in the first half.
EXEC: Under Armour to Return to Macy’s Locations
Macy’s reported that select Under Armour men’s product will be available in 150 stores and online, beginning in February 2024, building on the return of Nike apparel to the department store operator.
EXEC: Xtep Intl Posts Double-Digit H1 Increase Despite Slowing China Growth
The company, which operates retail stores in China for K-Swiss, Palladium, Merrell, and Saucony, in addition to Xtep brand stores, reported that retail sell-through growth in the first half increased nearly 15 percent.
Foot Locker, Inc. Posts Q2 Loss, Cuts Outlook as Sales Fall and Margins Contract
The retailer is pausing its cash dividend payments in the fall after reporting sharp Q2 declines in total sales and comp sales, a loss in GAAP net income, slimmer margins, and a business that reportedly softened further in July.
Kohl’s Q2 Earnings Fall on 5 Percent Comp Decline
Kohl’s reported profits in the second quarter dropped 54.1 year-over-year as same-store sales declined 5.0 percent. Earnings were ahead of analysts’ estimates with the benefit of tight expense and inventory controls and continued growth at its in-store Sephora shops. Guidance was reiterated for the year.
EXEC: Dick’s CEO Talks Q2 EPS Miss, Inventory Woes, Retail Theft and Staff Cuts
Shares of Dick’s shaved about a quarter of their value on Tuesday after America’s largest sporting goods chain reported a second-quarter profit shortfall and slashed its earning guidance for the year due to promotions required to clear inventories, particularly in the outdoor category, and higher-than-expected shrink.
Dick’s SG Lays Off Corporate Staff to Streamline Cost Structure
A source told Bloomberg News that Dick’s had laid off 250 corporate employees as part of the plan. Retail staff were not impacted.
