Foot Locker Inc. reported same-store sales jumped approximately 18 percent for the second quarter. Adjusted earnings are expected to be up about 24 percent but reported earnings are expected to be down due to charges to cover the wind-down of Runners Point, an Eastbay restructuring, and costs related to the national protests over race.
Category: Footwear
OBIT: Woolworth’s Harold Sells
Harold Sells, a former Woolworth CEO who is credited with helping launch the Foot Locker chain in 1974, has passed away at the age of 92.
Ultra Running To Close South End location In Charlotte
Ultra Running Company announced the closing of its location in 110 West Blvd in the South End neighborhood of Charlotte, NC. Ultra Running’s original location at Providence and Providence in Myers Park will remain open.
Retail Ecommerce Ventures Acquires Modell’s Trademarks For $3.7 Million
Retail Ecommerce Ventures, led by digital entrepreneurs Dr. Alex Mehr and Tai Lopez, has acquired the intellectual property and other assets related to its e-commerce business, for $3.7 million.
Mizuno’s Q1 Revenues Slide 32 Percent
Mizuno Corp. reported a loss in the first quarter ended June 30 as sales declined 32.0 percent.
WFSGI July Survey Finds Some Optimism Amid Pandemic
The July Edition of the COVID-19 Impact Survey from the World Federation of the Sporting Goods Industry (WFSGI) finds that COVID-19 is forecast to impact 86 percent of survey respondent’s business, slightly more compared to last month. But the survey indicated some optimism going forward.
Adidas Obtains Investment-Grade Rating By S&P And Moody’s
Following a thorough assessment by rating agencies S&P and Moody’s over the past months, Adidas has received strong first-time investment-grade ratings by both rating agencies. The ratings make Adidas one of the highest-rated companies both in Germany and in the global sporting goods industry.
Designer Brands Bolsters Financial Flexibility
Designer Brands Inc., the parent of DSW and Camuto Group, announced steps taken to enhance the company’s financial flexibility, including replacing its $400 million revolving credit facility with an equally-sized, asset-based revolving credit facility and completing a $250 million privately placed senior secured term loan. The company also provided further details on recent employee base restructuring actions and an update on store operations.
Callaway Hit By Q2 COVID-19 Restrictions; Takes Wolfskin Charge, Cancels Dividend
Callaway Golf company’s net sales decreased 34 percent to $297 million in the second quarter ended June 30, compared to $447 million for the comparable period in 2019.
Christy Sports Hires VP Of Digital
Christy Sports LLC has hired Harvey Bierman as their new VP of digital. In this newly created role, Bierman will lead the development and acceleration of e-commerce and digital marketing to enable the company’s growth strategy.
Dick’s SG Announces Grand Opening Of 11 Stores In Nine States
Dick’s Sporting Goods will expand its national footprint with the opening of four Dick’s Sporting Goods stores, one combination Dick’s and Golf Galaxy location, five Dick’s Sporting Goods Warehouse sale stores and one Overtime by Dick’s Sporting Goods location in August.
Unifi Posts Loss In Q4
Unifi Inc. reported sales fell 52.1 percent in its fiscal fourth quarter ended June 28 although monthly sales have improved sequentially throughout the period. The fiber manufacturer lost $20.2 million in the period.
Canadian Tire Posts Solid Retail Sales Growth In Second Quarter
Canadian Tire Corporation, parent company of SportChek, Helly Hansen and Sports Experts, among others, posted retail sales growth of 9.3 percent (excluding Petroleum) in the second quarter ended June 27.
Retail Council Of Canada And Association of Footwear + Apparel Canada Form New Partnership
Retail Council of Canada (RCC) and Association of Footwear + Apparel Canada (AFA) announced a partnership with a strong mandate to build a united platform for the retail and supplier community.
The Buckle Sees Fiscal Q2 Sales Up 6 Percent As Online Sales Double
The Buckle, Inc. reported total net sales for the 4-week fiscal month ended August 1 increased 3.8 percent to $70.0 million from net sales of $67.5 million for the year-ago comp period.
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