Author: Thomas J. Ryan

Foot Locker’s Shares Take Hit On Weak 2023 Outlook

Foot Locker’s Shares Take Hit On Weak 2023 Outlook

At its Investor Day on Monday, Mary Dillon, Foot Locker’s new CEO and president, outlined an ambitious “Lace Up” growth plan and said progress is being made in repairing the company’s relationship with Nike. However, shares of Foot Locker fell $2.43, or 5.8 percent, to $39.83 as earnings for the current year were guided sharply below analyst targets as the business undergoes a “reset.” (Read More)

EXEC: Fitness Chains See Brawny Recovery Continue Into 2023

EXEC: Fitness Chains See Brawny Recovery Continue Into 2023

As consumers return to fitness clubs, publicly-traded club operators Planet Fitness, Life Time Fitness and Xponential Fitness reported fourth-quarter results topping expectations and delivered upbeat forecasts for continued growth in 2023. The results were in sharp contrast to the in-home fitness equipment brands that saw revenues take a dive following pandemic-driven growth. (Read More)

EXEC: Academy Sees Value Focus Driving Share Gains In 2023

EXEC: Academy Sees Value Focus Driving Share Gains In 2023

Academy Sports + Outdoors saw fourth-quarter sales come in below plan due in part to weakness in the hunt category,  but strength in apparel and footwear as well as lower freight costs helped earnings easily top analyst targets. Officials also gave an upbeat outlook for 2023 due to improved inventory content, healthy demand across most categories and the benefit of its value positioning in a more-challenged economic climate. (Read More)

EXEC: Dick’s SG Bullish On Post-Pandemic Growth

EXEC: Dick’s SG Bullish On Post-Pandemic Growth

Speaking at the BofA Securities 2023 Consumer & Retail Conference, Lauren Hobart, president and CEO at Dick’s Sporting Goods, and Ed Stack, executive chairman, discussed the chain’s transformation and other factors expected to drive continued robust top-line growth for Dick’s in the years ahead as well as why the chain is faring better than other retailers in the current inflationary climate. (Read More)

EXEC: Famous Footwear’s Q4 Boosted By Athletic

EXEC: Famous Footwear’s Q4 Boosted By Athletic

Famous Footwear's comparable store sales increased 0.7 percent in the fourth quarter, better than initial expectations, due to a strong second half in driven by athletic footwear. On a call with analysts, Jay Schmidt, CEO of Caleres, said, "This late quarter performance was driven by robust demand for key athletic brands, which the Famous team was able to capitalize on due to a stronger in-stock position compared to last year.” (Read More)

EXEC: Black Diamond Sees Open-To-Buy Orders Dry Up

EXEC: Black Diamond Sees Open-To-Buy Orders Dry Up

On an analyst call, John Walbrecht, president at Clarus Corp., said inventory destocking at Black Diamond’s larger retail accounts in North America continued in the fourth quarter, wiping out open-to-buy opportunities and driving a sharp revenue decline. The pain is expected to continue in the first quarter but Walbrecht said demand for Black Diamond remains healthy. (Read More)

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