Genesco’s Shares Plunge 23 Percent On Reduced Outlook
Shares of Genesco Inc. tumbled $10.15, or 22.8 percent, to $34.40 on Thursday after the company slashed its guidance for the year due to weak store traffic in its U.S. businesses and expectations that the turnaround at Journeys would take longer than originally estimated.
Emerald Expositions Events Sees 6 Percent Growth In Q1
The increase in revenues for the parent of Outdoor Retailer reflected organic growth of 2.9 percent and growth from acquisitions of 3.3 percent.
Emerald Expositions Acquires Snow Show
Under the new ownership of Emerald Expositions, the January SIA Snow Show will merge with Outdoor Retailer to become the Outdoor Retailer + Snow Show endorsed and sponsored by SnowSports Industries America and Outdoor Industry Association (OIA), and will be the largest outdoor and winter sports industry gathering in North America.
Genesco Inc. Slashes Guidance On Weak Q1
Said Robert Dennis, chairman, president and CEO, “We have adopted a more conservative outlook for store-based sales given the anemic level of mall traffic year-to-date and the more pronounced shift in consumer spending away from stores to online. Therefore, we now expect adjusted diluted earnings per share for the year in the range of $3.90 to $4.05, compared to our previously issued guidance range of $4.40 to $4.55.”
Under Armour Announces 2017 Tom Brady Asia Tour
The tour of Beijing, Shanghai and Tokyo over six days will include a sneak peek into the football legend’s holistic training regimen to showcase the importance of sleep and recovery.
New Era Signs Three NBA Stars
New Era added Golden State Warriors forward Draymond Green, Washington Wizards guard John Wall, and Los Angeles Lakers guard D’Angelo Russell to endorsement deals.
Under Armour Signs Boxer Gervonta Davis
The 22-year-old super-featherweight, who is based in Baltimore, has a professional boxing record of 18-0 with 17 knockouts
Tilly’s Shares Pop On Q1 Beat
Shares of Tilly’s Inc. jumped $1.12, or 13.1 percent, to $9.70 after the action-sports themed retailer narrowed its Q1 loss while exceeding internal guidance for earnings and sales.
MEC Opens Store In Kitchener
MEC (Mountain Equipment Co-op) opened a store in Kitchener in Ontario, Canada.
Fleet Feet To Open Store In Poughkeepsie, NY
Kim Caruso, a lifetime resident of New York and graduate of Marist College, owns the store, which opened May 18 in The Shoppes at South Hills at 1895 South Road.
Kevin Plank Inducted Into NSGA Hall Of Fame
On May 23, Under Armour founder and CEO, Kevin Plank, was inducted into the Sporting Goods Industry Hall of Fame.
Jack Nicklaus Apparel Signs Willy Wilcox
PGA Tour professional Willy Wilcox has been named brand ambassador for Jack Nicklaus Apparel’s Nicklaus Collection.
Nike Signs Mega-Deal With Odell Beckham Jr.
Nike Inc. reportedly agreed to pay the New York Giants wide receiver $29 million over the next five years in what’s believed to be the largest footwear deal with an NFL player. A bidding war with Adidas boosted the deal’s price.
Tilly’s Narrows Q1 Loss
Tilly’s Inc. shrunk its loss in the first quarter while showing a 0.6 percent same-store gain, exceeding guidance.
Target To Pay $18.5 Million To Settle Data Breach Fallout
The payout represented the highest valuation of a multi-state data breach investigation to date.
