The retailer posted accelerated sales trends relative to the third quarter, EPS that exceeded the guidance range and success across multiple KPIs, but is also delaying by two years its previous guidance for its EBIT margin target while also axing its dividend.
Author: SGB Media
Johnson Health Tech Names New VP Commercial Business, International
John Young was promoted to VP of Commercial Business, International. He joined JHT in 2017 and was previously responsible for commercial sales and business development across the Pan-Asia region.
Ross Stores Comps Up 7 Percent in Q4 and EPS Sees Solid Increase
The discount retailer reported sales for the fiscal fourth quarter ended February 3 grew to $6.0 billion. Ross posted EPS of $1.82 per share for the 14-week fourth quarter ended February 3, up from $1.31 per share for the 13-week Q4 period ended January 28, 2023. The extra week was responsible for 20 cents a share.
Beachbody Raises Cash in California Facility Sale/Lease-Back Deal
The company sold its Van Nuys, CA production facility, which had a net carrying value of $4.8 million at year-end, for $6.2 million and simultaneously entered into a five-year lease of the facility.
Bogs Brand Again Posts Sharp Q4 Sales Decline at Weyco Group
The Bogs brand posted the largest decline for the period, with sales down 32 percent for the quarter, reportedly due to retailers reducing orders amid the current saturation of product in the outdoor footwear market.
Ghost Golf Appoints VP of Sales
Jim Jamison will spearhead Ghost Golf’s efforts to establish a presence in the Green Grass and Big Box Retail markets, which are focal points for its growth strategy in 2024.
NRF Economist Says Inflation and Interest Rates Remain Key to Economy
The NRF’s monthly review indicated that January’s 3.1 percent year-over-year (YoY) inflation, as measured by the Consumer Price Index, improved from December’s 3.4 percent but “still a considerable distance” from the Fed’s target of 2 percent.
Pard Optics Taps Zanders Sporting Goods as Distributor
Pard USA, headquartered in Reno, NV, entered the U.S. shooting sports marketplace after five consecutive years of double-digit growth in Europe.
NSSF: February Adjusted NICS Background Check Data Flat Year-Over-Year
For comparison, the unadjusted February 2024 FBI NICS figure of 2,336,390 reflects a 6.6 percent decrease from the unadjusted FBI NICS figure of 2,502,385 in February 2023.
Target Corp. Beats on Q4 Earnings Estimates but Sales Fall Short
Sales fell short of expectations in Q4 on a tough holiday selling period, but earnings beat estimates as the retailer posted GAAP and Adjusted EPS of $2.98, compared with $1.89 in Q4 2022. Analysts were reportedly looking for $2.42 a share.
Jelenew Redefines Athletic Couture
Chanel’s haute-couture Director, Christelle Kocher, joins Jelenew to launch its first curated performance apparel collection.
EXEC: Amer Sports Sees Q4 Growth Slow as Wholesale Declines; Posts Adjusted Net Loss
The parent of Wilson Sports, Salomon and Arc’teryx said they saw an expected deceleration from third quarter and year-to-date comparative trends due to the supply chain related sales shift that occurred from the third quarter into the fourth quarter in 2022.
Polaris 2025 Snowmobile Lineup Features New Technology, Model Upgrades
Highlights include Polaris’ patented Dynamix suspension technology, RMKs up to seven pounds lighter, Patriot 9R engine expanded into trail and crossover models, widetrack 650 Titan Adventure, and SnowCheck customization program.
BowFlex Inc. Files for Chap 11 Bankruptcy; Appoints Stalking Horse Bidder
The fitness company, formerly Nautilus, Inc., entered into a purchase agreement with Johnson Health Tech Retail, Inc. to serve as the Stalking Horse Bidder in acquiring substantially all of the company’s assets for $37.5 million in cash.
EXEC: Fenix Outdoor Acquires 30 Percent of Fjällräven Retail Partner
Arctic Fox s.r.o. Artic Fox runs six Fjällräven Stores and online businesses in the Czech Republic and Slovakia. Fenix Outdoor has an option to increase its ownership over time.
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