Net revenue decreased 7.8 percent for the first quarter to $285.5 million. Global eCommerce Net revenue was $195.5 million, a decrease of 3.7 percent year-over-year. Gross Merchandise Value (GMV) increased by low single digits compared to the first quarter of 2023.
Category: Footwear
EXEC: Lululemon Had Busy Q1, Beating Estimates, Buying Mexico Ops, Fixing Product Misses
It wasn’t long ago that the market was ready to write off Lululemon as new challenges befell Nike and LULU had its own issues to address, including the recent departure of Chief Product Officer Sun Choe for a new opportunity to run the Vans brand for VF Corp.
The Buckle Posts 7.6 Percent Comp Sales Decline for May
Net sales for the 4-week fiscal month ended June 1, 2024 decreased 8.2 percent to $82.0 million from net sales of $89.3 million for the prior-year fiscal month in 2023.
Lululemon Beats Q1 Sales and Earning Estimates; Shares Jump Double Digits
The company delivered first quarter EPS of $2.54 per share, beating Street estimates by 12 cents a share. Revenue amounted to $2.21B, outpaced the estimates. Revenue grew 11 percent year-over-year in constant-dollar terms. .
EXEC: Authentic Sells Boardriders Retail Ops in W. Europe; Inks Brand Licenses for Key Cats
Beaumanoir reportedly acquired the retail operations for the Boardriders brands across Western Europe and licensed the rights to manufacture, design and distribute branded products.
Hibbett Posts Q1 Sales Comps and Earnings Decline on Path to JD Sports Acquisition
Comparable sales decreased 5.8 percent versus the prior-year Q1 period. Brick & mortar comparable sales declined 5.8 percent while e-commerce sales also decreased 5.8 percent on a year-over-year basis.
EXEC: Sportsman’s Warehouse to Focus More on “Warehouse” and Value Moving Forward
The hunting, fishing, camping and shooting specialty retailer is embracing part of its name in a more profound way as 2024 progresses, promising to focus more on the “Warehouse” part of the name to provide more value for cash-strapped outdoor sports enthusiasts
Nike Inc. Takes Cost-Cutting Efforts to EU with Start of HQ Job Cuts
Nike is cutting jobs at its EU headquarters in Hilversum, Netherlands, outside of Amsterdam, as part of a multi-year cost-cutting plan, according to early reporting from Reuters, citing internal sources at the EU headquarters.
Sportsman’s Warehouse Suffers Another Quarter with DD Comp Sales Declines
Same-store sales decreased 13.5 percent during the first quarter, on top of a 17.8 percent comp sale decline in the year-ago first quarter period.
EXEC: DBI Gets Q1 Lift from Topo and Keds While Dress and Seasonal Drag on Retail
DBI also acquired Rubino, a profitable Canadian footwear retailer operating nearly 30 stores, specifically serving the Province of Quebec. Quebec represents nearly one-quarter of Canada’s population, but DBI had no existing presence. Rubino did CN$47 million in 2023.
NSGA Appoints New Member to Board; Gordon Geiger Takes Over as Chairman
Justin Miller started his three-year term on the Board and Gordon Geiger began his three-year term as Board Chairman on June 1. Miller is the president of Scholastic Sports Sales,
EXEC: Salomon Opens Two New Stores in Paris Ahead of the Olympics
The first Salomon Sportstyle brand store opened in Paris’ Le Marais neighborhood, joining its recently reported, newly opened Champs-Élysées flagship location.
NRF: Consumers Remain ‘Willing to Spend’ Despite Considerable Economic Headwinds
While the growth rate of consumer spending has begun to ease, owing to slower job and wage gains, higher interest and tighter credit, “consumers clearly remain willing to spend.”
Citi Trends Narrows Q1 Net Loss, Tempers Comps Outlook for Year as New CEO Takes Reins
Net loss per share was 42 cents, or a loss of 32 cents per share as adjusted, compared to a loss of 81 cents, or 66 cents as adjusted in Q1 2023.
Skechers Rings In 25th Anniversary with the NYSE and an All-Time High
Skechers, founded in 1992, celebrated its 25th year as a public company by ringing the New York Stock Exchange opening bell on June 3.
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