Author: SGB Executive

Famous Footwear achieved record quarterly earnings and sales in the first quarter, boosted by improving in-store traffic trends with strong demand across athletic, seasonal and kids categories.

Athleta sales growth accelerated in the first quarter with the benefit of a 113 percent hike in online sales and strong full-price selling, said Sonia Syngal, Gap Inc.’s CEO, on a conference call with analysts. “Athleta drove outsized digital growth while achieving record full-price sales through gains in performance lifestyle products, particularly warm weather short, dresses, swim, and tanks, and it really differentiates us from the competition.”

Boosted by strong demand for its casual offerings, Journeys saw a strong recovery in the first quarter and help its parent, Genesco Inc., deliver earnings and sales well above Wall Street’s targets in the first quarter. Mimi Vaughn, Genesco’s president and CEO, told analysts, “When fashion swings toward non-athletic or casual footwear, Journeys is especially well-positioned among its competition to deliver this assortment.”

Dick’s Sporting Goods significantly hiked its guidance for 2021 as stellar first-quarter results provided more confidence that the surge seen across many categories during the pandemic would continue to pay dividends in the future. On a conference call with analysts, Lauren Hobart, president and CEO, said team sports “came back with a vengeance” in the first quarter and pandemic-helped categories such as golf, home fitness and outdoor are “still really, really strong.”

A survey of U.S. consumers from Morgan Stanley found that while Nike remains the most dominant athletic shoe and apparel brand among U.S. consumers, Adidas and Puma may be gaining ground at Nike’s expense. The survey showed Adidas is now the favorite athletic shoe and apparel brand in the U.S.

Foot Locker Inc. surprised investors by reporting first-quarter results that came in well above Wall Street’s estimates and then in a bigger way by announcing its decision to close the Footaction chain. Dick Johnson, Foot Locker’s CEO, said, “Given the timing of the lease expiries, given the timing of the digital effort that we’ve seen, this is the time to make this decision.”

With a blow-out final quarter, Deckers Brands said revenue in its fiscal year ended March 31 exceeded pre-pandemic expectations. Deckers now plans to accelerate investments to scale the company’s supply chain and logistics infrastructure as well as beef up talent as growth opportunities for Hoka One One and Ugg are emerging faster than expected out of the pandemic.

Kohl’s Inc. hiked its earnings outlook for the year after first-quarter earnings came in well ahead of Wall Street’s targets. Koh’s said its shift last year to amplify its focus on athletic and casual lifestyles continues to gain traction. Nike, Under Armour, Adidas and Champion continued to drive active gains in the quarter with a major Eddie Bauer launch planned for the second half.

Led by athletics and seasonal categories, Shoe Carnival reported first-quarter results that far exceeded Wall Street’s guidance and predicted record earnings for the second quarter. Carl Scibetta, senior EVP, chief merchandising officer, told analysts, “Both men’s and women’s athletic had strong performances with sales driven by the basketball, skate and running categories.”

Addaday is on a roll. The maker of massage and other recovery tools recently announced a number of major hires to capitalize on emerging growth opportunities as it continues to tap accelerated demand for percussion tools, including its BioZoom Edge cordless massager. Here, Hugh Williams, president, discusses the Addaday story, new hires and growth opportunities ahead.

A global study from Signa Sports United, Europe’s sports commerce platform, and Boston Consulting Group (BCG) predicts tailwinds from COVID-19 will accelerate sports participation rates in the years ahead and drive sports retail revenues at twice the pace of global GDP. The study predicted strong growth prospects for “online category champions” and e-commerce overall.

As COVID-19 cases decline and vaccination rates climb, Fleet Feet is positioned to benefit from the return of races to build on the momentum the sport of running gained over the last year. Joey Pointer, CEO and president, talks about Fleet Feet’s battle plan to manage the pandemic and the outlook for the sport of running and Fleet Feet.

Wedbush on Monday raised its price target on Dick’s Sporting Goods from $85 to $97 on the investment firm’s belief that sales trends have accelerated since the company’s 4Q20 earnings report.

Canadian Tire Corp. Ltd. reported first-quarter sales grew 7.2 percent at its SportChek segment with gains held back by pandemic-related store closures. Same-store sales were up 18.7 percent. Gregory Craig, EVP and CFO, said, “With the early arrival of spring, we saw record sales in cycling, as well as strong demand in fitness-related categories, such as athletic footwear and kid’s apparel.”

Boosted by triple-digit e-commerce growth, Canada Goose Inc.’s revenues rose 33.7 percent in the fourth quarter ended on March 28. Officials predicted sales would climb 11 percent for the current fiscal year.