Nordstrom’s Q4 Earnings Top Estimate, To Exit Canada
Nordstrom reported earnings in the fourth quarter topped Wall Street’s guidance despite aggressive markdowns to clear inventories while providing an upbeat outlook for the current year. The retailer also announced the wind-down of its Canadian business.
Hibbett Rolls Out Returns Service
Hibbett, Inc. added Happy Returns’ Return Bars in its more than 1,100 Hibbett and City Gear specialty stores nationwide. Through the service, customers can make returns from hundreds of online retailers at Hibbett and City Gear stores in 36 states.
Carhartt Launches Resale Program
Carhartt, in partnership with Trove, launched Carhartt Reworked, a resale program intended to extend the life of its workwear.
CGPR Taps Former Employee As Vice President
CGPR tapped former employee Charlotte Daher de Garcia as vice president.
Salt Life Inks Licensing Deal For Home Furnishings
Salt Life is expanding its product line to include the company’s first home furnishings collection—Salt Life Home—via a license agreement with Magnussen Home, offering U.S. customers coastal-inspired products for living, dining, entertainment, office, sleep, and other home spaces.
Burlington Stores Sees Improving Trend Despite Q4 Comp Sales Dip
Burlington Stores, Inc. reported total sales for the fiscal fourth quarter increased 5 percent to $2.74 billion and comparable store sales decreased 2 percent for the period ended January 28, 2023, compared to the fourth quarter of Fiscal 2021.
Vuori To Open Store In Mall Of America
Vuori plans to open a store at the Mall of America in Bloomington, marking its first store in Minnesota.
The Buckle Posts 6.9 Percent Comp Store Sales Decline In February
The Buckle, Inc. saw comparable store net sales decrease 6.9 percent for the 4-week fiscal period ended February 25, compared from comparable store net sales for the 4-week period ended February 26, 2022.
Golftec To Open Location In Tampa
Golftec will open an instruction and club fitting center in Tampa, its 16th location in Florida, at 18047 Highwoods Preserve Pkwy.
Macy’s Sees Q4 Earnings Fly Past Analyst Targets
Macy’s Inc. reported fourth-quarter earnings were down year over year, but easily surpassed Wall Street targets while giving upbeat guidance for 2023. Macy’s attributed the strong performance to inventory disciplines and a focus on gift-giving categories.
Compass Diversified Posts Q4 Loss Despite Mid-Single-Digit Growth
Compass Diversified (CODI), which owns Velocity Outdoor, BOA, Marucci, Primaloft, 5.11 and others in the active lifestyle space, reported net sales in the fourth quarter of 2022 were $594.9 million, up 6 percent (+4 percent on a pro forma basis).
Moncler Sees 27 Percent Revenue Growth In 2022
Moncler Group said revenues rose 27 percent to €2.6 billion ($2.8 bn) in 2022. The Moncler brand reported revenues of €2.2 billion, up 21 percent, and Stone Island revenue reached €401 million, a 29 percent increase.
Titleist, Footjoy Parent Swings To Q4 EBITDA Profit On Double-Digit U.S. Growth
Acushnet Holdings Corp., parent company of the Titleist and Footjoy brands, reported that consolidated net sales for Q4 increased 6.4 percent, or 14.3 percent on a constant-currency basis. Adjusted EBITDA was $25.4 million, compared to a loss of $5.0 million in the prior-year quarter.
Puma Posts Record Results, Provides Subdued Outlook For 2023
Puma reported record sales and earnings before interest and taxes in 2022 but warned that profits would likely fall as high-interest rates and inflation weigh on consumer spending.
Kohl’s Logs Steep Q4 Loss On Heavy Markdowns
Kohl’s, Inc. reported a steep loss in the fourth quarter on heavy markdowns. Wall Street had expected a profit. The mid-tier department store chain also guided EPS for the current year below analyst targets.
