Nordstrom Inc. reported sales decreased 16 percent to $3 billion in the third quarter. Net earnings were down 57.9 percent in the period, but came in well above Wall Street’s targets. Top-performing merchandise categories included active, home, beauty and designer.
Category: Footwear
Tracker Boats To Double Its Footprint In Bolivar, Adding 300 New Jobs
Bass Pro Shops and White River Marine Group are expanding its Tracker Boats plant in Bolivar, MO, doubling the square footage of its manufacturing capabilities and adding 300 manufacturing jobs.
Urban Outfitters’ Q3 Profits Jump 38 Percent
Urban Outfitters Inc. announced net income rose 37.7 percent in the third quarter to $76.7 million, or 78 cents a share. Comparable Retail segment net sales were flat as a result of negative retail store sales driven by lower store productivity due to reduced store traffic, offset by strong double-digit growth in the digital channel.
Dick’s SG’s Q3 Earnings Surge On 23 Percent Comp Gain
Dick’s Sporting Goods reported earnings in the third quarter ended October 31 jumped more than four-fold as same-store sales climbed 23.2 percent. Brick & mortar same-store sales increased double-digits, the best performance since going public nearly two decades ago, while e-commerce sales expanded 95 percent.
Dick’s SG Announces Planned Leadership Succession
Dick’s Sporting Goods Inc. announced that Ed Stack, chairman and chief executive officer, will assume the role of executive chairman and continue as chief merchant on February 1, 2021. He also will oversee key strategic growth initiatives for the company. Lauren Hobart, the current president of Dick’s, will succeed Stack as president and CEO.
Li Ning Signs Jimmy Butler
Li Ning signed a multi-year shoe deal with Miami Heat superstar Jimmy Butler.
Burlington Stores’ Q3 Profits Tumble
Burlington Stores reported earnings on an adjusted basis fell 80.6 percent in the third quarter ended October 31 due to a decline in sales and higher product sourcing costs tied to the pandemic. Comparable store sales decreased 11 percent, with significant improvement coming out of August .
NRF Forecast: Holiday Sales Will Grow Between 3.6 And 5.2 Percent
With retail sales rebounding strongly due to continued consumer resilience, the National Retail Federation forecast that holiday sales during November and December will increase between 3.6 percent and 5.2 percent over 2019. Online and other non-store sales are projected to jump between 20 percent and 30 percent.
ATRA Survey: Healthy Interest In Trail Running Amid Pandemic
A survey from the American Trail Running Association (ATRA) of more than 2,500 trail runners found only one-quarter of respondents have spent less time running trails since the start of the pandemic. Three-quarters of respondents have sought out new trails for at least some of their runs. Only two percent of respondents have not run on trails in the past nine months.
Ecco Outdoor Adds Rep Coverage
Ecco has added sales rep groups in four key territories to further expand its business in the outdoor and athletic specialty category. The announcement follows the appointment of Erik Walcott as global head of specialty sales.
Nike Announces 12 Percent Increase In Quarterly Dividend
Nike Inc. announced that on November 19, 2020 its Board of Directors approved a quarterly cash dividend of $0.275 per share on the company’s outstanding Class A and Class B common stock.
Foot Locker Expands Community Power Store Concept To Canada
Foot Locker announced the grand opening of its first Canadian Community Power Store in Vancouver, BC. A second community-based power store will open in Toronto, Ontario in early December.
The Buckle’s Q3 Earnings See Sharp Uptick
The Buckle Inc. reported earnings rose 60 percent in the third quarter ended October 31 as same-store sales advanced 12.4 percent.
eBay Opens Its First Drive-Thru ‘Authentication Station’ In LA
eBay has converted a gas station in East Hollywood into a drive-thru ‘Authentication Station’ – offering customers a socially-distanced way to evaluate and sell sneakers, watches and collectibles, without leaving their vehicles.
Hibbett Sports’ Third-Quarter Earnings Surge
Hibbett Sports Inc. reported earnings increased more than four-fold in the third quarter as same-store sales climbed 21.2 percent. The retailer blew past estimates and raised its guidance for the year.
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