Famous Footwear’s same-store sales slipped 0.8 percent in the third quarter ended October 29. Results topped expectations with the family footwear chain facing a 26.5 percent same-store gain in the 2019 third quarter. Jay Schmidt, president of Caleres, on a conference call with analysts, said, "By limiting promotional activity, the business generated margins higher than pre-pandemic levels." (Read More)
Dick’s Sporting Goods’ third-quarter earnings declined due to aggressive markdowns on apparel but came in well above Wall Street targets as sales remained strong. The sporting goods giant also noted that results remain significantly above 2019 levels while lifting its guidance for the second straight quarter. (Read More)
Delta Apparel managed to rack up another year of double-digit top-line growth although earnings were slightly down due largely to higher cotton prices. Production curtailments are also expected to continue through the next two quarters to realign inventories due to a pullback in activewear orders in the mass channel. (Read More)
Foot Locker Inc. reported third-quarter results that surpassed expectations due to improved allocation of Nike products on top of continued success in its diversification efforts to feature other footwear brands. The sneaker giant lifted its guidance for the year. Mary Dillon, Foot Locker's new CEO, told analysts, "Our relationship with Nike is very important. It’s strong.” (Read More)
Athleta’s comps were flat year-over in the third quarter as the chain continues to feel the impact of a demand shift from athleisure to occasion and work-based categories. However, success with lifestyle offerings led to significant improvement versus recent quarters. (Read More)
