Athleta’s same-store sales were down in the second quarter for the third quarter in a row but showed improvement sequentially with sales of performance bottoms accelerating. On its analyst call, Gap Inc. officials expressed confidence in the ability of Athleta’s new leadership team, led by former Alo Yoga’s president Chris Blakeslee, to guide the continued recovery.
Category: Footwear
Hibbett’s Q2 Profits Tumble Year-Over-Year, Top Wall Street’s Targets
Hibbett, Inc.’s second-quarter profits fell 55.9 percent but still topped analyst targets with some strength in footwear offsetting apparel weakness. The sporting goods chain reiterated its full-year outlook, bucking a trend that saw competitors, Dick’s Sporting Goods and Foot Locker, lower guidance this week.
Pinnacle Outdoor Group Names Sarah Maher General Manager
The agency said Maher had been operating in this role since 2022, overseeing strategic development and sales operations in addition to her role as the agency’s Vermont sales rep.
Athleta Q2 Comps Slide 7 Percent; Parent Gap Inc. Swings to Profit
Athleta net sales totaled $341 million for Q2, down 1 percent compared to last year. While sales continue to be impacted by product acceptance challenges, the brand has taken near-term actions to improve product presentation and creative.
Nordstrom’s Q2 Profits Fly Past Analyst Targets
Nordstrom, Inc., reported earnings in the second quarter improved 8.7 percent year-over-year and nearly doubled Wall Street’s consensus target. The upscale department store chain said it benefited from continued progress on key priorities of Nordstrom Rack improvement, inventory productivity and supply chain optimization. Guidance was maintained for the year.
Grassroots Outdoor Alliance Promotes Dana Howe to Vice President
Grassroots Outdoor Alliance (GOA) promoted Dana Howe, director of membership and education, to vice president.
Shein Partners with Sparc to Drive Forever 21’s Growth
Sparc Group Holdings, the joint venture between Authentic and mall operator Simon Property Group, partnered with Shein, the Chinese e-commerce platform, to support the company’s Forever 21 business.
EXEC: Globe Sees Hardgoods Woes Cut into Sales, Profits for Fiscal Year
The company posted a double-digit decline in revenues and a sharp downturn in profit in the fiscal year ended June 30 as it struggled with declines in its hardgoods business and the clearance of related inventories, particularly in the U.S.
EXEC: Foot Locker, Inc. Makes Flurry of New Appointments to Address a Changing Marketplace
Foot Locker, Inc. made additional news Wednesday on its conference call with analysts, announcing a flurry of new hires and appointments to solidify the management teams that will focus efforts on the customer experience.
Reebok Opens Full-Price Store in Mexico
Reebok opened its first freestanding full-line store at Mexico City’s Fórum Buenavista shopping center as it ramps up its international expansion.
Inov-8 Opens First U.S. Store
Inov-8 opened its first U.S. store in Meridian, ID. The U.K.-based footwear manufacturer’s stores now number three, with the other two in England.
Burlington Stores Sees Weakness in Low-End Consumer but Exceeds Q2 Guidance
Burlington Stores, Inc. reported second-quarter earnings that came in well above guidance but still reduced its earnings outlook and narrowed its sales guidance for the year due to pressures facing its lower-income shoppers.
EXEC: On the Call with Foot Locker Execs Talking Q2 Business Trends, Weaker Future Outlook
Foot Locker’s sales trends continue to be a real problem child as total sales and comps both registered high-single-digit declines for the quarter ended July 29. Much of the sales decline came from Champs which comped down in strong double-digits in the quarter on repositioning pain.
Nike CFO of Consumer, Marketplace & Brand Departing for Lysol’s Parent Company
Reckitt Benckiser Group named Shannon Eisenhardt, currently CFO of Nike consumer, brand & marketplace, as CFO of Lysol’s parent company, replacing current CFO Jeff Carr, who is retiring in March 2024. She joins RBG on October 17, 2023.
EXEC: Kohl’s Finds Active Category Continues “Soft” in Second Quarter
On Kohl’s second-quarter analyst call, Tom Kingsbury, CEO, said the overall active category remained “soft” for the retailer in the second quarter, but outdoor and golf trends were encouraging and Nike, Under Armour and Eddie Bauer showed strength.
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