Wolverine World Wide Inc. reported sales were down 16.1 percent in the fourth quarter and earnings also were below year-ago levels but results were ahead of Wall Street’s targets and the company predicted an “accelerated recovery” in 2021. Owned eCommerce revenue grew 50 percent in 2020.
Category: Footwear
Acushnet’s Q4 Revenues Jump 14 Percent
Profits at Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, rose 20.7 percent in the fourth quarter ended December 31 on a 14.2 percent revenue gain.
Rocky Brands’ Q4 Sales Climb 16 Percent
Rocky Brands Inc. reported earnings climbed 91.1 percent in the fourth quarter on a 16.2 percent revenue gain.
Belk Files For Bankruptcy
Belk Inc., as expected, filed for bankruptcy protection in Houston, TX commencing “Pre-Packaged, One Day” reorganization. The plan calls for the reduction of $450 million in debt from the department store’s balance sheet and a $225 million capital infusion, supplied by Belk lenders and its private-equity owner Sycamore.
REI Expands Mobile Work Practices
REI announced that it has both identified the first of its future satellite offices in Issaquah, WA and will test a model that allows employees to work up to five days a week from home. The moves follow REI’s sale last September of its newly completed corporate campus in Bellevue, WA, with plans to shift to a more distributed work model.
NRF Forecasts Retail Sales Between 6.5 Percent And 8.2 Percent In 2021
The National Retail Federation issued its annual forecast, anticipating that retail sales will grow between 6.5 percent and 8.2 percent to more than $4.33 trillion in 2021 as more individuals get vaccinated and the economy reopens.
Fleet Feet Adds Five Stores In 2020, Makes Key Hires
Fleet Feet announced significant growth in 2020 as it added five stores to close with 182 and saw triple-digit growth of its e-commerce site. The franchisor also hired a head of human resources and marketing and made several promotions to support future growth.
Play It Again Sports Parent Sees Modest Earnings Decline In 2020
Winmark Corporation, the parent of Play It Again Sports, reported net income for the year ended December 26, 2020 of $29.8 million, or $7.72 per share, down 7.2 percent compared to net income of $32.1 million, or $7.84, in 2019.
Puma’s Q4 Sales Climb 9 Percent, Sees Difficult First Half Of 2021
Puma reported sales grew 9.1 percent on a currency-neutral basis in the fourth quarter. With lockdowns currently closing about half of the retail stores selling Puma’s products in Europe, a challenging first quarter is expected. Recovery, however, is forecast near the end of the second quarter and strong improvements throughout the third and fourth quarter.
TJX’s Comps Dip 3 Percent In Fourth Quarter
The TJX Companies, Inc. reported same-store sales were down 3 percent in the fourth quarter ended January 30 and turned positive in January.
Outdoor Retailer Shifts Summer 2021 Trade Show To August 10-12
Outdoor Retailer announced this summer’s trade show will move from June to August 10-12, 2021 and remain at the Colorado Convention Center in Denver, CO. The date change was made to facilitate a safe and successful in-person event.
Page’s Clarksville Sporting Goods To Close
Page’s Clarksville Sporting Goods in Clarksville, TN will close its doors on March 15 after 44 years in business.
Orvis Welcomes Former Backcountry And Athleta Execs To Board
Orvis welcomed former Backcountry and Athleta executives, Jill Layfield and Sheila Shekar Pollak to its board of directors, effective immediately.
Dick’s SG Exits Charlotte’s Northlake Mall
Dick’s Sporting Goods has quietly closed its two-level store at the Northlake Mall in Charlotte, NC, according to a report from the Charlotte Business Journal.
VF Corp. Named One Of The World’s Most Ethical Companies For Fifth Consecutive Year
VF Corporation was recognized by Ethisphere as one of the 2021 World’s Most Ethical Companies.
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