The retailer arrowed its fiscal 2024 guidance to net sales of $5.895 billion to $5.940 billion from previous guidance of $6.075 billion on the high side and missing Wall Street’s third quarter sales estimates.
Category: Footwear
CNBC/NRF: Retail Monitor Reinforces Online Shopping Strength in November
In today’s CNBC/NRF Retail Monitor report, the retail sales bounce back in October continued a moderate trend into November even as two of the holiday season’s busiest shopping days rolled over into December.
DSW Parent Slashes Full Year Guide After Q3 Miss; Total Comps Fall 3.1 Percent
DBI reported fiscal third quarter net sales decreased 1.2 percent year-over-year to $777.2 million in the 13-week period ended November 7, short of the $802.14 million expected on Wall Street.
NRF: Retailers and Vendors Continue to Surge Goods Ahead of Strike and Tariffs
Hackett Associates Founder Ben Hackett said retailers are under pressure as they front-load cargo to avoid both the disruption of the strike and higher costs from the tariffs.
L.L.Bean Making Additional Staff Cuts in Maine HQ
The retailer will lay off 50 to 75 employees at its corporate headquarters in Maine. These latest cuts equal approximately 2 percent to 3 percent of its Freeport-based staff and are the retailer’s second round this year.
Activist Investors Push Macy’s to Consider Changes to Capital Allocation Strategy
Barington Capital Group and Thor Equities LLC asked Macy’s to bring fresh perspectives to the company, especially in the areas of capital allocation, merchandising and retail and real estate
EXEC: Sports Direct Parent Frasers Makes Play for Nordic Region Sports Retailer
Michael Murray, CEO of Frasers Group, offered, “Our strategic vision and industry experience position us uniquely to help XXL navigate its current challenges. We are committed to ensuring that XXL reaches its full potential.”
NRF Chief Economist Sees Strong Q3 Results Boding Well for Holiday Retail Season
Many consumers started shopping earlier because a late Thanksgiving left five fewer shopping days before Christmas than in 2023. Based on data that the National Retail Federation has seen so far, conditions are shaping up for a successful holiday retail season.
NRF Report: 2024 Retail Returns to Total $890 Billion
Improving the returns experience and reducing the return rate are two essential elements for businesses in achieving their 2025 goals.
Zumiez Swings to Q3 Profit on 7.5 Percent Comps Gain; Offers Strong Q4 Guide
Net sales for the fiscal third quarter increased 2.9 percent to $222.5 million but the company noted that the shift in the retail calendar had a negative impact on Q3 results, decreasing net sales growth by approximately 510 basis points.
Journeys Parent Genesco, Inc. Ups Guidance on Strong Q4, Nice Start to Q4
For the full year, the parent of Journeys, Schuh and Johnston & Murphy now expects total sales to be down 1 percent to flat compared to Fiscal 2024 versus prior expectations for a total sales decrease of 1 percent to 2 percent.
Gymshark CFO Departs Amid Profit Decline
Gymshark did not provide a reason for CFO Mat Dunn’s departure, who filled the role in December 2022. The announcement follows the company reporting a £13m pre-tax profit for the year ending July 31, 2023, a decrease from £27.8m in the previous 12 months.
Tilly’s, Inc. Beats on Q3 Sales Estimate But Lowers Guidance on Tough Q4 Start
On a shifted basis, lining up the timing of this year’s Thanksgiving holiday with last year’s, total comparable net sales through December 3, decreased by 9.6 percent relative to the comparable period of last year ended November 28, 2023.
Lululemon Raises Full Year Guidance After Strong Q3 and Expectations for Solid Q4
For 2024, the company now expects net revenue to be in the range of $10.45 billion and $10.49 billion, representing growth of 9 percent, or 7 percent, excluding the 53rd week of 2024.
EXEC: Sports Direct Parent Fraser Group Cuts FY Guidance on Consumer Headwinds
The UK-based parent of the Sports Direct, Flannels, Jack Wills, House of Fraser, and Gieves and Hawkes retail brands saw shares fall over 10 percent on the LSE after the global sports and lifestyle retail giant issued a profit warning for the full-year.
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