Author: Thomas J. Ryan

EXEC: Athleta’s Sales Slump On Athleisure Softness

EXEC: Athleta’s Sales Slump On Athleisure Softness

Athleta’s same-store sales slumped 8 percent in the second quarter due to a demand shift from athleisure to occasion and work-based categories as well as some fashion miscues on spring/summer product. On an analysts’ call, Bobby Martin, interim CEO of Athleta’s parent, Gap Inc., remained confident Athleta would return to its mid-teens growth target. (Read More)

EXEC: Peloton’s Stock Crashes On Massive Q4 Loss

EXEC: Peloton’s Stock Crashes On Massive Q4 Loss

Shares of Peloton Interactive lost about 18 percent of their value on Thursday after the connect fitness leader posted a staggering loss and a bleak forecast that doused hopes of a quick turnaround. Barry McCarthy, CEO, said the loss “reflects the substantial progress we made this last quarter re-architecting the business to reduce the current and future inventory overhang, converting fixed to variable costs and addressing numerous supply chain issues." (Read More)

EXEC: Famous Footwear Cautious On Back-To-School Selling

EXEC: Famous Footwear Cautious On Back-To-School Selling

Famous Footwear marked its sixth consecutive quarter of double-digit return on sales in the second quarter that ended July 30 as the off-price chain continues to limit promotions. However, Diane Sullivan, chairman and CEO of Famous Footwear's parent, Caleres, Inc., provided a muted outlook for third-quarter sales due to a later-developing back-to-school season and a recent sales slowdown. (Read More)

EXEC: Dick’s SG Momentum Builds In Second Quarter

EXEC: Dick’s SG Momentum Builds In Second Quarter

Dick’s Sporting Goods became one of the few retailers across channels to see second-quarter results surpass Wall Street targets and raise its guidance for the year. Lauren Hobart, president and CEO, told analysts Dick’s customers over the last two years have made “lasting lifestyle changes” that continue to drive robust demand while an increasingly differentiated product assortment elevates margins. (Read More)

EXEC: TJX Lowers Guidance On “Historically High Inflation”

EXEC: TJX Lowers Guidance On “Historically High Inflation”

The TJX Cos., Inc. reported its overall apparel business at Marmaxx was slightly positive every month during the second quarter, but overall, U.S. comps were down 5 percent due to a steep decline in the home category. The parent of T.J. Maxx and Marshalls increased its full-year pretax profit margin outlook but overall lowered its sales and EPS guidance. (Read More)

EXEC: On Delivers Blowout Q2 On North America Strength

EXEC: On Delivers Blowout Q2 On North America Strength

On’s second-quarter results arrived far ahead of Wall Street’s targets as the Swiss running brand was able to overcome supply chain challenges and capitalize on particularly strong demand in North America. On raised its outlook for the year. Caspar Coppetti, executive co-chairman, said, "“All geographies, channels and categories contributed strongly to this outstanding result." (Read More)

EXEC: Hanesbrands Bullish On Champion’s Growth Potential Despite Q2 Shortfall

Hanesbrands, Inc. said global Champion brand sales slumped 20 percent in the second quarter in constant-currencies due in part to a ransomware attack but also softer-than-expected point-of-sale trends. On an analyst call, Steve Bratspies, CEO, HanesBrands, remained confident in Champion's growth potential despite the rare top-line miss. (Read More)

EXEC: Wolverine Cuts Outlook On Promotional Concerns

EXEC: Wolverine Cuts Outlook On Promotional Concerns

Wolverine Worldwide delivered operating margin ahead of expectations and EPS at the high-end of guidance but revenue in the quarter came in softer than expected and guidance for the full year was reduced on expectations that the marketplace will become increasingly promotional in the back half. Positives in the quarter included growth of 14 percent for Merrell and 16 percent for the Wolverine brand as sales for Saucony, Sperry and Sweaty Betty missed plan. (Read More)

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