Author: Thomas J. Ryan

EXEC: Genesco Reduces FY Guidance On Inflationary, Promotional Pressures

EXEC: Genesco Reduces FY Guidance On Inflationary, Promotional Pressures

Genesco, Inc.’s sales and margins topped expectations in the third quarter, but its full-year outlook was lowered as heightened promotional activity is now planned for the fourth quarter, particularly at the flagship Journeys chain. Mimi Vaughn, Genesco’s president and CEO, told analysts, "The consumer pressured by inflation is having to make harder choices on where they spend their money." (Read More)

EXEC: Off-Pricers Sidestep Promotional Pressures To Deliver Healthy Q3 Results

EXEC: Off-Pricers Sidestep Promotional Pressures To Deliver Healthy Q3 Results

The country’s two biggest off-pricers, TJX Cos. and Ross Stores, both lifted their outlook for the fourth quarter after reporting third-quarter earnings that exceeded guidance as apparel sales outpaced many of their full-priced competitors. Burlington Stores’ reported results that came in at the lower end of guidance and slightly reduced for the year, but is optimistic that a realigned sales mix emphasizing value will drive sales in the quarters ahead. (Read More)

EXEC: Famous Footwear Unable To Top Year-Ago “Blockbuster” Results In Q3

EXEC: Famous Footwear Unable To Top Year-Ago “Blockbuster” Results In Q3

Famous Footwear’s same-store sales slipped 0.8 percent in the third quarter ended October 29. Results topped expectations with the family footwear chain facing a 26.5 percent same-store gain in the 2019 third quarter. Jay Schmidt, president of Caleres, on a conference call with analysts, said, "By limiting promotional activity, the business generated margins higher than pre-pandemic levels." (Read More)

EXEC: Foot Locker Finds Surprise Boost From Nike In Third Quarter

EXEC: Foot Locker Finds Surprise Boost From Nike In Third Quarter

Foot Locker Inc. reported third-quarter results that surpassed expectations due to improved allocation of Nike products on top of continued success in its diversification efforts to feature other footwear brands. The sneaker giant lifted its guidance for the year. Mary Dillon, Foot Locker's new CEO, told analysts, "Our relationship with Nike is very important. It’s strong.” (Read More)

EXEC: On’s Momentum Builds In Q3

EXEC: On’s Momentum Builds In Q3

On, the Swiss running brand again raised its full-year outlook after reporting earnings in the third quarter ended September 30 surged 20.5 percent on an adjusted basis on a 50 percent sales gain. The gains were helped by strong product responses and expansion at Dick’s, Foot Locker and Nordstrom and came despite logistics disruptions at its Atlanta warehouse. (Read More)

EXEC: Shoe Carnival Records Second-Best Third Quarter For Sales

EXEC: Shoe Carnival Records Second-Best Third Quarter For Sales

Shoe Carnival, Inc. reported sales reached the second highest level for any quarter in the family footwear chain’s 44 years in existence, only behind last year’s levels that benefited from government-stimulus measures. Boosted by non-athletic offerings, the family footwear chain's sales were well above pre-pandemic third quarter of 2019, indicating strong growth momentum. (Read More)

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