Net income for the third quarter of fiscal 2023 was $51.8 million, or $1.04 per share on a diluted basis, compared with net income of $61.4 million, or $1.24 per share on a diluted basis, for the third quarter of fiscal 2022.
Author: SGB Media
Foot Locker Named NBA Marketing Partner in the U.S.
Foot Locker and the NBA have signed a multiyear partnership that makes the sneaker retailer an official league marketing partner in the U.S. Foot Locker will receive media exposure across league platforms, including on-court virtual signage during national broadcasts and on league social media channels.
Fleet Feet Expands Kentucky Footprint with Louisville Store
Fleet Feet reported it plans to open a second store in Louisville, KY, in November in Fern Creek’s Cedar Creek Crossing Shopping Center.
HanesBrands Appoints Three New Independent Directors
HanesBrands announced that it has appointed Colin Browne, Natasha Chand and John Mehas as independent directors to the Board, effective immediately. It also reached a cooperation agreement with Barrington Capital Group, an activist investor group.
Dillard’s Announces Special Dividend On Shares
The Board of Directors of Dillard’s, Inc. declared a special dividend of $20.00 per share on the retailer’s class A and B common stock, payable on January 8, 2024, to shareholders of record as of December 15, 2023.
Athleta’s Q3 Sales Tumble 18 Percent
Gap, Inc. reported sales at its Athleta banner were down 18 percent in the third quarter to $279 million with same-store sales sliding 19 percent.
Ross Stores Lift Outlook as Q3 Beats Plan
Ross Stores raised its earnings guidance for the year after third-quarter results arrived ahead of targets. Profits grew 30.7 percent in the period on a 5 percent same-store gain and the benefit of lower freight costs.
Columbia Sportswear Hires President, Sorel Brand
Columbia Sportswear Company hired Cory Long as president of the Sorel brand. Most recently, Long was the global general manager and chief global merchant of DC Shoes. He also has leadership experience at Mitchell & Ness, Asics, Supra, and Converse.
REI to Open Albany Store in 2024
REI announced it is opening a store in Albany, NY, in the fall of 2024, the retailer’s sixth store in New York, following the opening of its Ithica store in summer 2024.
Dick’s SG’s Chief Comms and Sustainability Officer Announces Retirement
Dick’s Sporting Goods Chief Communications and Sustainability Officer Peter Land announced his retirement after three years working for the retailer. Dick’s declined to comment on his departure.
VF’s Debt Ratings Downgraded by Moody’s
Moody’s Investors Service downgraded VF Corp.’s long-term debt ratings due to continued weakness at Vans, VF’s second largest brand, as the company embarks on a significant transformation initiative, project Reinvent, to revitalize VF’s business, most notably in North America.
Life Time Opens Club and Co-working Facility in Houston
Life Time opened Life Time Shenandoah and Life Time Work Shenandoah, the company’s 31st athletic country club in Texas and third coworking space in Houston.
Skechers Responds to Nike Patent Lawsuit
Skechers U.S.A., Inc. said it will vigorously defend a patent lawsuit filed by Nike., Inc. in California Federal Court on November 6, in which claims Skechers’ Ultra Flex and Glide Step, among other shoe models, infringed on patents for its Flyknit upper technology for running, soccer and basketball shoes.
Rip Curl, Oboz Parent KMD Brands Sets Plan for CFO Transition
While KMD continues to recruit for a permanent Group CFO, Ben Washington, Deputy CFO, will provide interim cover for financial and investor aspects of the role, and Lachlan Farran, chief commercial officer, will absorb the remaining operational responsibilities on an interim basis.
Walmart Raises Outlook as Q3 Surpasses Analyst Targets
Walmart raised its annual sales and profit forecast for the second straight quarter after third-quarter exceeded analyst estimates. Sales in the quarter grew 5.2 percent with strength across segments and comps rising 4.9 percent for Walmart U.S.