The retailer saw net sales decrease 4.2 percent year-over-year, with comparable sales down 5.1 percent year-over-year, but it also posted a 13 percent increase in earnings driven by GM expansion and strong inventory and expense management.
Author: SGB Media
EXEC: Foot Locker Exiting New York for Sunnier Environs; Shakes Up Europe and Asia Model
Foot Locker Inc. is pulling up stakes in New York City and moving to St. Petersburg, FL in 2025. The company plans to maintain only a limited presence in New York City going forward.
Foot Locker Inc. Sees Core Foot Locker Banner Comps Grow 5.2 Percent in Q2
Comparable sales increased by 2.6 percent for the quarter, led by 5.2 percent growth in global Foot Locker and Kids Foot Locker comparable sales. The second-quarter net loss was $12 million, compared to a $5 million net loss in Q2 last year.
EXEC: Sports Direct Parent Invests in Australian Sportstyle Retailer
Frasers Group plc, the parent of the UK-based retailer Sports Direct, has acquired a 14.65 percent strategic investment in Accent Group Ltd., a retailer in the performance and lifestyle market in Australia and New Zealand.
Puma Promotes Indy Sen to SVP Puma Group Sourcing
Sen assumes the operational responsibilities of the chief sourcing officer, replacing Anne-Laure Descours, who is not extending her board contract and will instead support Puma as an external sustainability advisor.
PVH Corp. Raises Full Year EPS Guidance after Q2 Earnings Beat
The parent of the Tommy Hilfiger and Calvin Klein brands reported it drove substantial gross margin and operating margin expansion in Q2 and reaffirmed revenue and non-GAAP operating margin guidance, reflecting disciplined execution of the PVH+ Plan.
EXEC: Slinger Bag Headed Toward Another Ownership Transition
Company CEO Mike Ballardie has signed a separation agreement to acquire all assets and liabilities related to the Slinger Bag legacy business.
Nordstrom, Inc. Gets Lift from A-Sale Timing and Active in Second Quarter
Nordstrom said active, women’s apparel, beauty and kids had the strongest growth versus 2023. During the Anniversary Sale, the top growing categories were beauty, active and home.
Report: Road Trips and RV Camping Take the Lead in Fall Travel Plans
In a significant shift, RV camping has overtaken rental properties as the preferred accommodation for Labor Day vacationers, according to the latest Fall Travel Intentions survey conducted by Cairn Consulting for the RV Industry Association.
Have We Seen the Last of the In-Store Snow Sports Pre-Season Sale?
The days of the old SNIAGRAB and Powder Daze seem to be over as the one-time annual sales events that snow sports retailers used to sell off past season apparel and gear are left behind in favor of a wider selling window and web sales.
DPS and Phantom Glide Tap Chico Bukovansky as Global Sales Director
Industry veteran Chico Bukovansky will lead global sales for both brands. Previously, he worked for Slingshot Sports as chief revenue officer, and before that, he led global sales for Dakine. He also served on the Board of Directors at SIA from 2016 to 2018.
EXEC: Saucony and Merrell Post H1 Surge in China as Xtep Takes Full Control
Saucony and Merrell are now operating under a licensing model in China, and housed within Xtep International’s new Professional Sports segment of business, representing 8.2 percent of total revenues for the company.
EXEC: Mainland Headwear H1 Hurt by Economy, Slow Mexico Factory Output
With production at its new Mexico factory yet to run smoothly as the newly recruited local staff are grappling with workflow., the company has run into high operating costs, resulting in an operating loss for the H1 period.
Citi Trends Posts Wider Q2 Loss as Retailer Moves to Clear Inventories
The retailer said it is swiftly capitalizing on two distinct opportunities: enhancing the ‘treasure hunt’ experience by securing branded goods at incredible values while also increasing the penetration of opening price point goods.
Swiftwick Adds Industry Vets to Management Team, Executes Brand Overhaul
Swiftwick has hired Katie Nguyen from Chaco as head of integrated marketing and James Osborne, who spent nearly two decades at Nike, to build the run specialty sales and community functions at the company.
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