Academy Sports Q4 Earnings Fly Past Wall Street Targets
Academy Sports and Outdoors Inc. reported earnings on an adjusted basis increased 12.5 percent in the fourth quarter ended January 28 as lower freight costs and overall operating expenses offset a 5.1 percent decline in same-store sales. EPS easily topped analysts’ consensus estimates while sales were below.
G-III Apparel Reports Q4 Loss On Goodwill Impairment Charges; Sales Grow Mid-Teens
G-III Apparel Group, Ltd. reported that net sales for the fourth quarter ended January 31 increased 14.2 percent to $854.4 million from $748.2 million in the prior-year quarter. The company reported a net loss of $261.1 million, or $5.54 per share, for the fourth quarter, compared to net income of $48.4 million, or 98 cents per diluted share, in the prior-year quarter.
February Retail Sales Rise 5.4 Percent Year-Over-Year
Overall retail sales dipped slightly in February, but core spending rose, according to data reviewed by the National Retail Federation.
Sweet Protection Names NA Sales Manager
Sweet Protection, the maker of performance helmets, goggles and technical clothing, reported that industry veteran Ryan Davis was hired as North American sales manager, responsible for accelerating the company’s development in the snow and bike categories.
Pou Sheng International Appoints CEO
The Pou Sheng International (Holdings) Limited board of directors re-designated Wang Jun, the acting CEO, as CEO effective March 15.
Marriott Appoints Dick’s CEO To Board Seat
Marriott International, Inc. elected Lauren Hobart, president and chief executive officer of Dick’s Sporting Goods and Grant F. Reid, former president and chief executive officer of Mars, as independent directors.
Hypetex Appoints Michael Dowse To Board
Hypetex, a UK company that makes colored carbon fiber using sustainable colorization materials, appointed Michael Dowse, former long-time president of Wilson Sporting Goods, as a non-executive director and board member.
Sporting Goods Retail Industry Icon Jim Chick Passes Away
The National Sporting Goods Association shared that former NSGA board member and board chair, Jim Chick, passed away. Chick was president & CEO of Chick’s Sporting Goods, headquartered in Covina, CA, for nearly 40 years. He was a member of the NSGA board of directors from 1985 to 1994 and was the board chairman in 1992.
Nordstrom Adding Two Rack Stores In Fall 2023
Nordstrom, Inc. reported plans to open two stores in fall 2023—a Nordstrom Rack in Natomas, CA, and a Rack store in San Antonio, TX.
Rally House To Open Three Stores In Arkansas
While Rally House has a strong presence in the Midwest, the company reported this week it enter a new market in Arkansas.
Beachbody Narrows Q4 Loss By Two-Thirds Despite Strong Double-Digit Sales Decline
The Beachbody Company, Inc., which re-branded as Bodi in March, reported total fourth-quarter revenue decreased 31 percent to $148.2 million for the period ended December 31, compared to the prior year period.
Reebok Partners With Macy’s
Macy’s reported it expanded its partnership with Reebok to include a broader selection of activewear and lifestyle products, including exclusive merchandise, extended sizes and collections available only at Macy’s.
Stio To Open Mountain Studio In Bozeman
Stio reported it will open a tenth Mountain Studio in Bozeman, MT this fall. This follows the company opening an East Coast Studio in Boston and its first in South Lake Tahoe, scheduled to open on March 24.
Report: New Brand Resale Index Recognizes REI, Arc’Teryx And On As Top Brands
Trove released its Brand Resale Index: Defining the Resale Experience. The Index evaluates leading practice adoptions across 40 brands in the Outdoor, Footwear, Fashion/Apparel, and Luxury categories.
OR, Surf Expo Parent Swings To 2022 Profit On Triple-Digit Revenue Growth
Emerald Holding Inc. reported significantly improved earnings and sales in the fourth quarter and year ended December 31 as trade shows continued to return to in-person events.
