Author: SGB Executive

New York Sports Clubs Owner Succumbs To Bankruptcy Protection

New York Sports Clubs Owner Succumbs To Bankruptcy Protection

Town Sports International LLC, the parent of New York Sports Clubs, Boston Sports Clubs, and numerous other gyms, on Monday, became the latest fitness chain to land in bankruptcy court due to the pandemic.Wrote Phillip Juhan, CFO of Town Sports, in an affidavit filed in Delaware’s bankruptcy court, "COVID-19 has hit the health club industry particularly hard." (Read More)

Peloton Crushes Q4 Results, Sees Continued Hyper-Growth

Peloton Crushes Q4 Results, Sees Continued Hyper-Growth

Peloton Interactive marked its first quarterly profit as sales vaulted 172 percent in the fiscal fourth quarter ended June 30. The company also forecasted first-quarter and fiscal 2021 sales that far exceeded analysts’ expectations. John Foley, Pelton’s CEO, said on a conference call, “American consumers have said that they want fitness at home. It just hasn't worked until now.” (Read More)

Retail Reports Roundup

Retail Reports Roundup

Analysis by eMarketer found online sales grew 44 percent year-over-year in the second quarter and the research firm predicted online sales would reach 18 percent of U.S. retail sales in 2021. Recent retail surveys and studies also explored growing comfort by consumers in returning to stores, the U.S. economy’s recovery, 3D-shopping and road trips. (Read More)

DSW To Be Converted Into “Go-To Sneaker Headquarters”

DSW To Be Converted Into “Go-To Sneaker Headquarters”

Designer Brands Inc. vowed do double-down on its efforts to expand athletic assortments as its DSW off-price chain as its core dressier styles are seeing meager traction in the stay-at-home economy. Said Roger Rawlins, CEO at Designer Brands and interim president, DSW, "Designer Brands has the flexibility and the necessary vendor relationships to become a go-to sneaker headquarters during this time.” (Read More)

Tilly’s Warns On BTS Softness

Tilly’s Warns On BTS Softness

Tilly's reported sales declined 16 percent in the second quarter ended August 1 and warned that third-quarter sales would decline sharply due to soft traffic as stores have reopened as well as delayed back-to-school (BTS) selling. Tilly's officials also noted that BDG by Urban Outfitters, Nike Women and Fjällräven have been added to the action-sports chain's mix. (Read More)

Sportsman’s Warehouse Blowout Q2 Boosted By Firearms Surge

Sportsman’s Warehouse Blowout Q2 Boosted By Firearms Surge

Sportsman's Warehouse’s earnings vaulted in the second quarter as sales jumped 79 percent on significant increases in firearms, ammunition, fishing, and camping. The performance benefited from market share gains, a surge in outdoor participation and civil disorder. Said Jon Barker, CEO, on a conference call with analysts, “Quite simply, demand outstripped supply for many of our products.” (Read More)

Inside The Call: Macy’s Planning Cautiously For Second Half

Inside The Call: Macy’s Planning Cautiously For Second Half

Macy’s on its second-quarter conference call indicated that it is planning conservatively for the second half and continues to expect same-store sales to be down in the low-to-mid 20 percent range during the fall season. However, officials called out active, as well as home, among categories seeing strong demand and believe luxury overall is benefiting due to a shift away from experiential purchases. (Read More)

Inside The Call: Athletic Styles Drive Record Q2 Revenues For Shoe Carnival

Inside The Call: Athletic Styles Drive Record Q2 Revenues For Shoe Carnival

Shoe Carnival Inc. said sales of adult athletic styles jumped 30 percent in the second quarter to fuel record sales in the period. Officials also don’t see a slowdown this year in the casual and athletic footwear trends that has emerged with the pandemic. Said Cliff Sifford, vice chairman and CEO, “The trend of casual lifestyle will continue.” (Read More)

Inside The Call: Famous Footwear Sees Hit From Back-To-School Weakness

Inside The Call: Famous Footwear Sees Hit From Back-To-School Weakness

Caleres Inc. said sales at Famous Footwear rebounded strongly with a record month in June as stores reopened, but disruption to school openings is expected to lead to a 15-to-20 percent decline in the third quarter. The off-price shoe chain expects to benefit from its heavy concentration of sports performance and leisure-oriented styles aligned with stay-at-home and work-from-home trends. (Read More)

Retail Reports Roundup

Retail Reports Roundup

A study from MBLM found Amazon to be the most intimate retailer in the U.S. followed by Walmart and Costco. Recent retail surveys and studies also explored consumer' heightened COVID-19 concerns, the pace of the recovery, the benefits of inventory visibility, consumers turning more frugal, and stress over back-to-school spending. (Read More)

Wall Street Reacts: Dick’s SG Q2

Wall Street Reacts: Dick’s SG Q2

Shares of Dick’s Sporting Goods jumped 16 percent on Wednesday after the retailer reported record earnings and sales for the second quarter as many sporting goods and outdoor products are finding new appeal amid the stay-at-home economy. A number of Wall Street analysts see Dick’s building on its renewed momentum in the quarters ahead, but a few were skeptical about how COVID-19 trends would shake out in 2021. (Read More)

Inside The Call: Dick’s SG Details Pandemic Bump Amid WFH And Lifestyle Changes

Inside The Call: Dick’s SG Details Pandemic Bump Amid WFH And Lifestyle Changes

Dick’s Sporting Goods Inc. reported its highest-ever quarterly sales and earnings as Americans have embraced home fitness and socially-distanced outdoor activities to ride out the pandemic. Said Ed Stack, CEO, on a conference call with analysts, "Our product assortment is well-tailored to the recent consumer trends, supported by strong relationships with our key brands." (Read More)

Nike Says ‘Just Don’t Do It’ To Some Major Accounts

Nike Says ‘Just Don’t Do It’ To Some Major Accounts

Nike said its move to stop selling to a number of major accounts marks an acceleration of its effort to clean up its distribution following the recent launch of its Consumer Direct Acceleration strategy. Nike said in a media statement, "We are doubling down on our approach with Nike digital and our owned stores, as well as a smaller number of strategic partners who share our vision to create a consistent, connected and modern shopping experience.” (Read More)

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