Author: SGB Executive

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.

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.”

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.

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.

Hibbett Sports reported blockbuster second-quarter results and announced goals to take significant market share in the months ahead, particularly from challenged department store competitors. Inventory levels at the quarter’s end were down 33 percent, but inventory flow is expected to improve to drive second-half gains. 

Athleta’s same-store sales climbed 19 percent in the second quarter as the chain tapped into the overall momentum in active apparel in the quarter, according to the quarterly results of its parent, Gap Inc. Online sales at Athleta grew 74 percent to offset a 45 percent drop in in-store sales.

SGB Executive talked to Terry Schalow, executive director, Running Industry Association (RIA) as his organization wrapped up KICK On-Demand, its first virtual trade show, as a result of COVID-19. RIA also just released its third COVID-19 Retail Survey of run specialty stores that revealed some positives and negatives for the run specialty channel.

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.

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.”

Nordstrom Inc., as expected, took it on the chin with fiscal second-quarter top-line results, but company management saw a silver lining to the dark clouds of the COVID-19 experience.

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.”

The third COVID-19 Retail Survey of run specialty stores from The Running Industry Association (RIA) found sales for the wide majority of respondents recovered in June. However, sales slowed somewhat in July and many run specialty stores remain somewhat pessimistic about sales returning to pre-COVID-19 levels in the foreseeable future.

Recent retail surveys and studies have found that increasing expectations of online classes have altered back-to-school spending plans, as well as insights into holiday spending, entrepreneurism, brand trial, and digital wallets.

Foot Locker Inc.’s Q2 comps surged 18.6 percent with the help of explosive digital growth and momentum in basketball, providing management with enough confidence in the business to reinstate its dividend. However, Foot Locker warned that the second half packs a high degree of uncertainty.

Hyperice, Bombas, Ororo Wear, Blenders Eyewear, OrderMyGear, Sellmark Corp, Sparx Hockey and Blink Fitness were among a number of companies in the active lifestyle space landing on the 2020 Inc. 5000, the magazine’s annual ranking of the fastest-growing private companies in America.