Shares of Hibbett Sports Inc. jumped $3.66, or 20.3 percent, to $21.70 at market close Friday after the company earlier in the day reported a strong fourth quarter but also announced the closing of 95 stores and the planned retirement of Jeff Rosenthal, president, CEO and self-described “sneaker dude.”
Author: SGB Media
Caleres Counting On Q4 ‘Herculean’ Efforts To Pay Off In 2019
Caleres’ fourth-quarter performance was stymied by costs related to a pair of acquisitions and the transition of two distribution centers, but those “Herculean” efforts have positioned the company well for the second half of 2019, CEO Diane Sullivan said on Thursday’s earnings call with analysts.
Aisle Talk Week Of March 18
Top headlines from the active lifestyle industry you may have missed this week, including a breakdown of which brands have the most March Madness sponsorships.
Champion Opens Store In Philadelphia
Champion Athleticwear opened its first store in Philadelphia and its fifth U.S. specialty retail store with other locations in Los Angeles, New York, Boston and Chicago.
Hibbett Sports’ Q4 Blows Past Estimates
Hibbett Sports, Inc. reported fourth-quarter earnings rose slightly but came in well above Wall Street’s targets. The retailer also announced plans to close 95 stores this year as part of an “accelerated store closure plan” and a transition plan with the pending retirement of CEO Jeff Rosenthal.
Hibbett Announces CEO Transition Plan
Hibbett Sports Inc. announced the planned retirement of Jeff Rosenthal, president and chief executive officer. The Board will commence a search process to identify the company’s next CEO, and Rosenthal will remain at the company in his CEO capacity until a successor is named.
Slinger Bag Looks To Serve Up Tennis Disruption
Israel-based startup Slinger Bag is out to disrupt the relatively small but lucrative tennis ball machine market with its new “launcher” of the same name. Bolstered by a massively successful Kickstarter campaign, the company has hired former Prince CEO Mike Ballardie and is now beginning production. Ballardie and CMO Juda Honickman spoke with SGB Media about the company’s ambitious plans.
Caleres Misses Q4 Estimates As Acquisition Costs Add Up
Caleres on Thursday reported an adjusted net income of $16 million, or 38 cents per share, missing analysts’ estimates by 7 cents. Expenses related to last quarter’s acquisition and integration of Blowfish Malibu and Vionic totaled 15 cents per share.
Nike’s Q3 Earnings Top Estimates On Digital Momentum
Nike Inc. reported quarterly earnings that slightly topped analysts’ expectations and sales that were in-line. The 7-percent revenue growth was driven by broad-based strength across all geographies as well as Nike Direct, led by digital. By region, the gains were led by Greater China, up 23 percent; followed by EMEA, 9 percent; and North America, 7 percent.
G-III Apparel’s Q4 Boosted By Double-Digit Wholesale Growth
G-III Apparel Group Ltd. reported fourth-quarter earnings that came in well ahead of Wall Street’s consensus target due to stringent cost controls and double-digit growth across wholesale operations. G-III officials revealed that its recently-acquired DKNY label had introduced its first women’s apparel collection tied the major sports leagues.
Designer Shoe Warehouse Opens in Manchester, N.H.
Designer Brands Inc. has announced a new DSW in Manchester, NH.
Duluth Holdings Announces Opening Of 49th Store In Wichita, KS
Duluth Holdings Inc. (dba, Duluth Trading Company) on Thursday announced the grand opening of its 49th store in Wichita, KS.
Western Mountain Destinations Occupancy Remains Strong
Inntopia reported that as of Feb. 28, occupancy for western resorts for the month of February was up 5.7 percent compared to the previous February in a year-over-year (YOY) comparison.
Vicis Zero Youth Tops Virginia Tech’s Inaugural Youth Football Helmet Ratings
The Virginia Tech University Helmet Lab released its inaugural Virginia Tech Helmet ratings for youth helmets, awarding Vicis Zero Youth a five-star rating and a score of 0.69. A lower score indicates better protection. Helmets from Xenith, Schutt and Riddell were also reviewed.
Fleet Feet Scans One Millionth Customer Foot
Less than two years after introducing 3D scanning technology into its stores, Fleet Feet has scanned its one-millionth pair of feet as part of its exclusive in-store outfitting experience known as fit id.
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