Dick’s Sporting Goods raised its full-year profit outlook after reporting first-quarter earnings that topped analysts’ estimates. Same-store sales were flat in the quarter compared with a drop of 2.5 percent during the same period a year ago. CEO Ed Stack said same-store sales at Dick’s “turned positive in March and remained positive in April, as we started to see the benefits of our key strategies and investments.”
Category: Footwear
Trade War Impact Remains Uncertain
On quarterly conference calls last week, executives at both retailers and vendors said the ultimate impact of the tariff war isn’t clearly known, especially if the fourth tranche on $300 billion of imports that hit apparel and footwear items becomes effective. But most reassured analysts they’re taking or have taken steps to mitigate most of the expected damage. Comments from VF Corp, Deckers Brands, Kohl’s, JC Penney, Target, Hibbett Sports, TJX Cos. and Ross Stores.
Anne Worcester Named President Of Universal Tennis
Universal Tennis, the world’s premier tennis platform, announced that Anne Worcester, former WTA CEO & Connecticut Open Tournament Director, has joined the company as president.
Payless ShoeSource To Close All Stores In June
Payless ShoeSource announced plans to liquidation all its stores through the end of June. The company announced in February that it would shut down all 2,100 Payless locations across the country.
Hype Capital To Launch A $75 Million Sports Tech Fund
Hype Sports Innovation, based in London, announced plans for a $75-million capital fund with Uli Becker, ex-president of Reebok and Bernd Wahler, former president of VfB Stuttgart who also served as Adidas CMO.
Moody’s Affirms Tom’s Rating, Lowers Outlook
Moody’s Investors Service affirmed Toms Shoes, LLC’s Caa3 Corporate Family Rating (“CFR”) and Caa3 senior secured first lien term loan rating. Concurrently, Moody’s downgraded the company’s Probability of Default Rating (“PDR”) to Caa3-PD from Caa2-PD. The outlook was changed to stable from negative.
Nike Signs Likely No. 2 NBA Draft Pick
Nike signed Ja Morant, the former Murray State guard who’s expected to be taken second in the upcoming NBA Draft.
Hibbett Sports Q1 Profits Flies Past Estimates
Hibbett Sports Inc. sharply raised its outlook for the year after reporting first-quarter earnings that blew past Wall Street’s consensus target. Comparable store sales increased 5.1 percent.
Stage Stores Logs Q1 Loss On Charges
Stage Stores Inc. reported a loss after impairment charges in the first quarter while same-store sales dipped 3.1 percent. The department store operator reaffirmed guidance for fiscal year 2019.
Stein Mart To Install Amazon Pick-Up Lockers
Stein Mart plans to house Amazon lockers in 200 of its 283 stores. Amazon Hub Lockers are secure, self-service kiosks that provide customers of the online retailer an alternative delivery option to pick up and return their Amazon packages.
Skechers Not Worried About Tariffs
Speaking at the 20th Annual B. Riley FBR Institutional Investor Conference, officials at Skechers USA Inc. said they expect no impact from the latest round of tariffs on Chinese goods and feel comfortable that it will be able to make adjustments if another round arrives.
Shoe Carnival Q1 Earnings Climb 7 Percent
Shoe Carnival Inc. reported earnings rose 7.1 percent in the first quarter to $13.9 million, or 91 cents a share. Comps in the quarter dipped 0.2 percent due to the later tax refund season as well as inclement weather impacting February, but the combined months of March and April increased 3.6 percent.
Avenatti Indicted In Nike Extortion Case
Controversial lawyer Michael Avenatti was charged with trying to extort Nike out of more than $20 million dollars by threatening to go public with claims the company was facilitating payments to the families of high school basketball stars. Avenatti separately was charged with stealing about $300,000 from his former porn star client Stormy Daniels.
OIA Skip Yowell Future Leadership Academy Announces Capstone Projects
Outdoor Industry Association (OIA) announced capstone projects for Class 4 of the Skip Yowell Future Leadership Academy (FLA), an immersive leadership experience for the next generation of outdoor industry game-changers. This year’s class includes 35 driven emerging leaders from REI, Yakima, Pacific Crest Trail Association, Backcountry.com, The North Face, Outdoor Research, Burley and others.
Foot Locker Surprises High School Seniors With Scholarships
For the eighth consecutive year, the Foot Locker Foundation has awarded $20,000 scholarships to 20 outstanding student-athletes.
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