Cabela’s Q1 Benefits From Expense Cuts, Credit Strength
Cabela’s not surprisingly saw earnings and sales decline in the first quarter as a result of an industry-wide downturn in firearms sales following the election of Donald Trump. But expense-containment efforts and healthy results from Cabela’s CLUB Visa program helped the retailer exceed Wall Street estimates.
Sequential Brands Sees Q1 Sales Climb 16 Percent
Sequential Brands Group Inc. reported total revenue for the first quarter ended March 31, 2017 increased 16 percent to $39.4 million, compared to $34.0 million in the prior year quarter.
Cabela’s Q1 Same-Store Sales Fall 8.9 Percent
Cabela’s reported first-quarter earnings decreased 16.7 percent as consolidated comparable store sales decreased 8.9 percent.
Adidas Q1 Boosted By North America, China, E-Commerce
Adidas AG reported earnings jumped 30 percent in the first quarter. Results were paced by an 18 percent increase at brand Adidas on a currency-neutral basis as well as a 13 percent increase at the Reebok brand. Combined sales of the Adidas and Reebok brands grew in all market segments except Russia/CIS. Growth was particularly strong in North America (+31 percent), Greater China (+30 percent), Japan (+21 percent) and MEAA (+15 percent).
Gildan Reports 12.2 Percent Growth For Q1
The company saw a strong net sales growth of 12.2 percent in the quarter due to organic growth and the acquisition of companies including Alstyle, American Apparel, and Peds. Gildan expects sales to continue to increase throughout the remaining of 2017 due to organic growth and acquisitions.
Zumiez Sees Q1 Earnings At Low End Of Guidance
The company’s comparable sales increased 7.8 percent for the four-week period compared to a comparable sales decrease of 6.0 percent in the year ago period.
Hanesbrands Laying Off 220 Amid New Growth Initiative
Champion sales in the U.S. were up double-digits “as we continued to benefit from our refreshed product offering and increased space within the mass channel,” said Rick Moss, CFO.
Big 5 Crushes Q1 Guidance
Said Steven Miller, chairman, CEO and president, on a conference call with analysts. “Our strong results reflect our team’s continued effort to expand our market share gain following the competitive store closures that occurred in our sector last year and capitalized on the favorable weather conditions in our market during the first quarter.”
Brooks To Enter China And Brazil
Brooks Running Company is expanding its global footprint in July 2017 with entry into China and Brazil, two of the largest running markets in the world.
L.L.Bean To Open Third Retail Store In Connecticut
L.L.Bean plans to open a store in New Haven, CT in the summer of 2018.
Dick’s Stores VP Joins Five Below
George Hill, most recently SVP retail operations at Dicks Sporting Goods, has joined Five Below Inc. as EVP of retail operations.
Raleigh Owner Accell Breaks Off Takeover Talks With Bidder Pon Holdings
Accell Group announced it will currently not continue the exploratory discussions with Pon Holdings offer to acquire the company.
Icebreaker Appoints CEO
Smith is currently general manager responsible for New Zealand and Australia for Icebreaker and will succeed Rob Fyfe as chief executive officer on June 1.
Big 5’s Q1 Profits Easily Top Guidance
Same store sales increased 7.9 percent for the first quarter of fiscal 2017, reflecting continued market share gains resulting from the closure of certain major competitors last year along with more favorable weather conditions than the prior year period.
HanesBrands Sees Q1 Earnings Improve, Launches Project Booster Initiative
HanesBrands reported earnings per share in the first quarter rose 12 percent in the first quarter excluding acquisition-related and integration charges while announcing that it launched a multiyear initiative to increase investment for growth, reduce costs, and drive cash flow.
