At Levi Strauss & Co.'s Investor Day, Michelle Wahler, CEO and co-founder of Beyond Yoga, said the athleisure brand will surpass $100 million in sales in 2022. Growth should accelerate through category and channel expansion, including opening its first brick-and-mortar doors. (Read More)
Lululemon Athletica was able to overcome supply chain disruption and inflationary pressures to deliver first-quarter sales and earnings well past company targets, driven by outperformance in North America. As it’s done regularly over the course of the pandemic, the yoga-themed retailer raised its outlook for the year. (Read More)
Tilly’s, Inc. reported first-quarter results that were, as expected, well below year-ago levels due to difficult comparisons. Officials expect inflationary pressures and elevated inventory levels to remain headwinds in the quarters ahead. (Read More)
Zumiez reported first-quarter sales declined sharply due to tough year-ago comparisons but were at the high end of guidance. Earnings, however, fell short of guidance. Rick Brooks, CEO, told analysts, “The operating environment has become increasingly more challenging due to the supply chain bottlenecks, higher logistics costs, a tight labor market, and high levels of inflation.” (Read More)
Designer Brands Inc. said sales at its flagship DSW chain continue to benefit from a “narrower and deeper” buying approach that focuses on the chain's top 50 brands. Roger Rawlins, CEO, also told analysts that other brands are stepping up to make up for the loss of Nike in athletic categories. (Read More)
Duluth Holdings, the parent of Duluth Trading, reported both sales and earnings topped Wall Street estimates in the fiscal first quarter ended May 1, benefiting from greater full-price selling and improving inventory levels. (Read More)
Sportsman's Warehouse reported first-quarter results that topped expectations but warned that the high inflation rate influenced consumer shopping habits, including higher-ticket items. CEO Jon Barker told analysts, "Although there is inflationary pressure impacting the consumer, we believe that our positioning as a value-priced leader will allow us to capture additional market share of those people seeking to enjoy the benefits of the outdoors.” (Read More)
SFIA’s 2022 State of the Industry Report showed the sporting goods industry recorded a banner year in 2021 and the majority of survey participants are bullish on the industry’s future. (Read More)
At the J.P. Morgan Global Technology, Media and Communications Conference, Barry McCarthy, Peloton Interactive’s new president and CEO, discussed the many challenges facing Peloton, including costs and supply chain, but also about the “customer love” that encouraged him to take the job and tackle the turnaround opportunity. (Read More)
Hibbett, Inc. reported that first-quarter earnings were in line with expectations but down against a year-ago period that was boosted by federal stimulus spending. However, improving inventory levels encouraged Hibbett officials to reiterate its outlook for the year calling for a return to growth in the second half. Inflationary pressures also aren’t considered much of a concern. (Read More)
Gap, Inc. said Athleta expects to deliver a mid-double-digit revenue CAGR (compound annual growth rate) over the next several years, but growth could slow over the next few quarters due to weakening in the active category. (Read More)
Genesco Inc.'s first-quarter earnings came in well above Wall Street estimates as a rebound in its Schuh and branded businesses helped offset inventory shortages faced by its flagship Journeys chain. Mimi Vaughn, Genesco president and CEO, told analysts, “I’ve been describing the current fashion cycle as shifting away from fashion athletics more into casual, which plays into Journeys’ strength." (Read More)
Genesco, Inc., the parent of Journeys, reaffirmed its guidance for the year after reporting that first-quarter earnings surpassed Wall Street estimates. (Read More)
Shares of Dick's Sporting Goods closed up nearly 10 percent on Wednesday despite the retailer slashing its guidance for the year due to broader macroeconomic pressures. Lauren Hobart, CEO, told analysts the revision was pre-cautionary while expressing confidence that Dick’s would continue to benefit from the sports and outdoor hobbies began during the pandemic. (Read More)
Shares of Caleres, Inc. rose nearly 30 percent Wednesday after the off-price footwear chain reported first-quarter results that came in well above Wall Street estimates and raised its guidance for the year. Famous Footwear marked its fifth straight quarter of year-over-year margin improvement while the Branded Portfolio segment continued its strong recovery. (Read More)
Shares of exercise-equipment maker Nautilus, Inc. touched a 52-week low on the New York Stock Exchange Tuesday after the company reported a loss in the fourth quarter and forecasted an operating loss in the current fiscal year as it navigates a moderating demand for at-home fitness equipment and bloated retail inventories. (Read More)
Last week’s news that Under Armour CEO Patrik Frisk is stepping down next month after a... (Read More)
At its Investor Day held on May 23 at the New York Stock Exchange, Vista Outdoor officials conducted a deep dive into the growth potential of its Outdoor Products and Sporting Products segments and its plan to separate the businesses into two independent, publicly-traded companies. (Read More)
Foot Locker, Inc. reported a better-than-expected second quarter as steps to diversify its merchandise and vendor mix are off to a strong start. While overall comps were down 1.9 percent in the period due to tough year-ago comparisons, comps of non-Nike products increased in the high teens, led by Adidas, Puma, New Balance, Crocs, and Converse. (Read More)
Deckers Brands reported fourth-quarter results that came in far ahead of Wall Street targets as both Ugg and Hoka benefited from being able to get back in stock on key assortments. (Read More)