Designer Brands Inc., the parent of DSW, returned to profitability for the first time since the onset of COVID-19. Sales improved 45.6 percent against pandemic-depressed year-ago levels and the gross margin rate improved over the rate from the first quarter of 2019. Athleisure comparable sales in the U.S. Retail segment, or DSW, were up 92 percent in the first quarter year-over-year.
Category: Footwear
Father’s Day Spending To Hit $20.1 Billion, According To NRF
U.S. consumers are expected to spend more than $20.1 billion on gifts and other items for Father’s Day this year, a record high, according to the National Retail Federation’s (NRF) annual survey conducted by Prosper Insight & Analytics. Total spending for the holiday will surpass last year’s record figure of $17 billion.
Stifel Launches Sustainable Lifestyle Brand Index
A new Stifel survey shows consumers believe it’s important for companies to act sustainably and most are willing to pay a premium for brands that demonstrate ethical business practices, environmental care, and social responsibility. Based on this insight, Stifel is also introducing its Sustainable Lifestyle Brands Index, which ranks brands based on consumer perception of corporate sustainability practices.
Hibbett Appoints Board Member
Hibbett Sports Inc. announced the appointment of Linda Hubbard to the company’s Board of Directors. She is president and chief operating officer of Carhartt.
Dick’s SG Lifts FY Outlook On Blowout First Quarter
Dick’s Sporting Goods raised its full-year guidance after reporting sales and earnings for the first quarter ended May 1 came in well ahead of Wall Street’s consensus targets. Consolidated same-store sales for 2021 are now projected to expand in the range of 8.0 percent to 11.0 percent.
Academy Sports Announces $99 Million Paydown And Refinancing Of Its Term Loan
Academy Sports + Outdoors, Inc. announced that it had completed a paydown and refinancing of its term loan and that its S&P Global credit rating has been upgraded.
Wolverine Worldwide Announces International And Sperry Leadership Appointments
Wolverine World Wide Inc. announced the promotion of Isabel Soriano as president of International and the appointment of Katherine Cousins as global brand president, Sperry.
Nordstrom’s Q1 Shows Sequential Improvement In Sales Trends
Nordstrom Inc. reported a loss in the first quarter, as expected while showing continued strength in online sales. The retailer said sequential improvement in sales trends of more than 700 basis points relative to fourth quarter, but overall sales were down 13 percent versus the 2019 first quarter.
City Gear Opens In Lake Charles
Hibbett announced the opening of a City Gear store in Lake Charles, LA.
CBP And Nike Inc. Partner To Fight Counterfeits
The U.S. Customs and Border Protection (CBP) announced a new formal partnership arrangement with Nike Inc. as part of the Donations Acceptance Program. Under its partnership with CBP, Nike Inc. is donating proprietary technology to aid in authenticating a variety of Nike Inc. merchandise and prevent counterfeit products from entering the U.S.
REI To Open First Store In Maine
REI Co-op is opening its first location in Maine in the Greater Portland area in Fall 2021.
Golf Rounds Played Surge In April
Golf rounds played in the U.S. jumped 81.4 percent for the month of April, according to Golf Datatech. For the year-to-date period, rounds are ahead
43.8 percent.
Study Finds 28 Percent Of Runners Started During The Pandemic
A study from RunRepeat found that 28.76 percent of runners started with the activity during the pandemic
Genesco Appoints Three New Independent Directors, Rejects Activist’s Slate
Genesco Inc. appointed three retail industry veterans, including Angel Martinez, the former CEO of Deckers Brands, to its Board, but none of the candidates nominated by an activist investor seeking to take control of the board. The other two new board members are Mary Meixelsperger, CFO, Valvoline and former CFO of DSW; and Greg Sandfort, former CEO of Tractor Supply Company.
The Buckle Sees Q1 Sales More Than Double
The Buckle Inc. reported net sales for the 13-week fiscal quarter ended May 1, 2021 increased 159.2 percent to $299.1 million from net sales of $115.4 million for the prior year 13-week fiscal quarter ended May 2, 2020.
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