Urban Outfitters Inc. reported earnings in the first quarter declined 21,0 percent to $32.6 million, or 31 cents a share as gross margins were hurt by underperforming women’s apparel at the Anthropologie and Urban Outfitters brands. Earnings surpassed Wall Street’s target of 26 cents.
Category: Footwear
Modell’s To Test Smaller Stores
Modell’s Sporting Goods plan is to open 10 locations spanning 5,000 and 8,000 square feet across New York City, according to The Real Deal.
VF Corp. Disappoints On Outlook
VF Corp. reported earnings and sales in the fourth quarter came in ahead of Wall Street’s consensus estimates but provided 2020 guidance that was lower than targets. By segment, revenue for Outdoor is expected to increase approximately 4 percent to 5 percent, or 5 percent to 6 percent on a constant dollar basis, and revenue for Active is expected to increase approximately 6 percent to 7 percent, or 9 percent to 10 percent on a constant dollar basis.
Kappa Signs Aston Villa
Kappa, the Italian sportswear brand, in a partnership with Fanatics signed a three-year deal to become the kit supplier to English second-tier soccer club Aston Villa.
Nordstrom Trims Full-Year Forecast On Weak First-Quarter Start
Nordstrom Inc. reported first-quarter earnings fell well short of Wall Street’s targets as execution issues associated with the launch of its enhanced loyalty program was partly to blame for a sales shortfall. It now expects 2019 net sales between a 2 decline to flat growth, compared with its previous projection of 1 percent to 2 percent rise.
Rocky Brands Declares Increase In Quarterly Dividend
Rocky Brands Inc. announced that its board of directors has approved a two cents increase, or a 16.7 percent increase, of its quarterly dividend to 14 cents per share of outstanding common stock,
PVH Corp. Names Stefan Larsson To Newly Created Role Of President
PVH Corp. announced leadership updates, including Chairman and CEO Manny Chirico signing a new five-year employment agreement and hiring Stefan Larsson as PVH President, a newly created role.
Snipes Takes On U.S. Market
Earlier this year, German-based streetwear retailer Snipes acquired KicksUSA to mark its entry into U.S. retailing. Sven Voth, founder and managing director of Snipes, talks to SGB Executive about the reason for the acquisition and Snipes’ plans for the U.S. market.
TJX’s Q1 Exceeds Plan, Outlook Lifted
The TJX Companies Inc. reported first-quarter earnings that beat expectations and raised its outlook.
Adidas Partners With Seattle University
Seattle University and Adidas have entered a seven-year partnership in which the Portland, OR-based company will become the official athletic footwear, apparel and accessory brand of the Redhawks, effective July 1.
Kohl’s Cuts Outlook After Quarterly Miss
Kohl’s reduced its annual outlook after reporting first-quarter results came in below analysts’ estimates. Michelle Gass, Kohl’s chief executive officer, said in a statement, “The year has started off slower than we’d like, with our first quarter sales coming in below our expectation.”
JCPenney Appoints Chief Customer Officer
J. C. Penney Company Inc. announced that Shawn Gensch has been named executive vice president, chief customer officer, Gensch joins JCPenney from Sprouts Farmers Market.
JC Penney’s Q1 Loss Steepens
JCPenney Company Inc. widened its loss in the first quarter to $154 million, or 48 cents per share, from a loss of $78 million, or 25 cents, last year. Comparable sales decreased 5.5 percent for the first quarter.
How Asics Plans To Regain Its Stride In Run
Following 13 consecutive quarters of declines, Asics returned to growth in North America in the first quarter, led by the Performance Running category’s return to positive growth. In an interview with SGB Executtive, Richard Sullivan, EVP of sales, categories and marketing, Asics North America, discusses the reason Asics returned as title sponsor of the Los Angeles Marathon and its strategies for regaining its leadership positioning in the run category.
Spain To Exit Adidas Contract
The Spanish soccer federation said it is breaking its contract with Adidas and has opened negotiations with other apparel companies. Adidas has sponsored Spain since 1991.
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