SGB Executive Apparel
EXEC: Academy Shares Get Lift as Positive Comps Returned in August
With some major negative events behind it, Academy looks to new store growth as the primary sales driver. The stores opened in 2022 are all comping postive despite the challenging economic backdrop and remain pleased with the 2023 and 2024 new stores.
EXEC: Backcountry Sold as TSG Closes Deal with CSC Generation Enterprise
CSC acquired the company from TSG Consumer Partners, which acquired the business in July 2015. CSC also owns the Sur La Table, One Kings Lane, Touch of Modern, DirectBuy retail brands, in addition to others.
EXEC: Footwear ASPs Continue to Decline Coming Out of Yue Yuen Factories in H1
Yue Yuen reportedly saw the volume of shoes it shipped to brands in the U.S. and Europe increase nearly 10 percent in the first half period ended June 30 (H1), but revenues for those pairs only increased 1.3 percent as average selling prices (ASP) declined 7.8 percent for the period.
EXEC: Genesco CEO and CFO Share Journeys, Schuh and J&M Details from Q2
Although Q2 results were better than expected, the company continues to retain a cautious view and, as such, reiterated its most recent full-year EPS outlook of 60 cents to $1.00 per share. The soft guidance sent shares lower for the day.
EXEC: VF Details Supreme Contribution to Corporate Picture
For the fiscal 2024 year-end, the Supreme discontinued operations accounted for $538.9 million of revenue, $324.9 million in gross profit, $109.9 million in operating income, and 13 cents per diluted share during VF’s 2024 fiscal year.
EXEC: Callaway and Topgolf Management Outline Separation Plan
The company said it expects to effect the separation by spinning off the Topgolf business to Topgolf Callaway Brands’ shareholders in a transaction that is intended to be tax-free for both the company and its shareholders for U.S. federal income tax purposes.
EXEC: Dick’s SG Tempers Outlook for H2 on Concerns Over Consumer
The largest sporting goods retailer in the country, which just posted 4.9 percent comp growth in the first half of the year, also has concerns about the consumer. As many others have noted in their earnings calls, DKS is clearly seeing something at the store level.
EXEC: Nordstrom Family Offers Path to Take Namesakes Retailer Private
A real deal to go private is finally on the table at Nordstrom Inc., with family members Erik Nordstrom and Pete Nordstrom at the center of a proposed $3.76 billion deal.
EXEC: Sportsman’s Warehouse Lowers Outlook as Q2 Hurt by Tight Inventories
Company CEO Paul Stone said they ran inventory too low in the first half of the year and did not invest in the right amount of inventory, particularly in core products and did not invest in the right amount of inventory, particularly in core products.
EXEC: Mountain Warehouse Approved as Winning Bidder in EMS Asset Sale
The terms of the pre-arranged stalking-horse bidder deal, which was originally said to be around $5 million, actually came in at double that amount. Mountain Warehouse plans to continue operating seven stores under the Eastern Mountain Sports name.
EXEC: Top Bidders Named in Asset Auction for Salt Life, Soffe and DTG2Go Brands
Salt Life, the marine apparel brand acquired by Delta Apparel in August 2013, was expected to have the biggest ticket after Delta indicated that it planned to sell certain Salt Life brand assets, but the final bid came in over one-third higher than expected.
EXEC: Lululemon to Fast-Track New Product but Cuts 2024 Guidance
Lululemon reported second quarter net revenue increased 7 percent to $2.37 billion, or increased 8 percent on a constant-currency (cc) basis. Analysts were looking for $2.41 billion. Earnings came in at $3.15 per share, above consensus estimates for $2.93 per share.
EXEC: Athleta’s Q2 Comps Decline as Expected; Expects Return to Growth in H2
In the second quarter, Athleta was expected to lap the balance of last year’s heavy discounting, and, as a result, the company planned for second quarter net sales to be down in mid-single-digits year-over-year.
EXEC: Foot Locker Gives Q2 Nod to Nike in Basketball, Adidas and New Balance in Lifestyle
North America overall comps were up 1.7 percent for the quarter, led by Foot Locker North America, which delivered a comp increase of 5.9 percent.
EXEC: Wall Street Reacts as Foot Locker CEO Talks Turnaround Plan and Positive Q2 Comps
FL shares have been on a bit a roll, with the stock up 24 percent in the last month and 42 percent over a three-month period, but the Q2 results weren’t positive enough to build on that momentum as FL shares fell in double digits on Wednesday.
