SGB Executive Footwear
EXEC: The Buckle Sees Denim ASPs Rise But Profits Dip as Footwear Falls 41 Percent
Fourth quarter comparisons also continued to be challenged with declines in the retailer’s HeyDude volume, particularly on the men’s side. Overall footwear sales were down about 41 percent for the quarter.
EXEC: L.L.Bean Approves 9 Percent Bonus for 5,600 Employees Despite a Down Year
The retailer ended the 2023 fiscal year with annual net revenue totaling $1.7 billion, compared to $1.8 billion in the prior year. The Board approved a performance bonus of 9 percent of annual pay for its approximately 5,600 employees, comprised of a 5 percent cash bonus and a 4 percent 401(k) contribution.
EXEC: Zumiez to Stop Store Expansion to Focus on Profitable Growth, Brand Expansion
In 2023, Zumiez closed 20 underperforming North American stores and expect to close an additional 20 to 25 locations in 2024, should results continue to be challenged. The retailer said it will pivot from new stores to profitable growth in Europe.
EXEC: Tilly’s, Inc. Sees Proprietary Brands Outperforming Vendor Brands in Q1
Total comparable quarter-to-date net sales through March 12, 2024, have decreased by 13.4 percent relative to the comparable period last year and the company is forecasting a comp store sales decline in the range of 14 percent to 7 percent for the quarter.
EXEC: Dick’s Sporting Goods on Path for Biggest Expansion Since 2017
After a strong finish to the fiscal year and posting its largest Q4 ever, the company has already put its stake in the ground for the next chapter (or chapters) in the story of the 75-year-old sporting goods retailer.
EXEC: The Footwear Brands Bringing the Brand Heat in 2024
The third annual Brand Heat Index from L.E.K. Consulting reveals the brands that are gaining in popularity, or increasing their brand “heat,” across major product categories and generations in women’s and men’s footwear and apparel.
EXEC: Adidas Cites Argentine Peso Issue, Lack of Yeezy Sales for Q4 Sales Decline
The two percent decline in Q4 included a drag of around five percentage points related to the devaluation of the Argentine Peso. In addition, the lack of any Yeezy business weighed on the year-over-year comparison in an amount of around €100 million.
EXEC: On Holding Shares Take a Hit as Analysts Question 2024 Outlook
On generated revenue of more than 1 billion Swiss francs in the Americas region for the full year and more than 1 billion Swiss francs in consolidated gross profit and consolidated net sales from the Wholesale channel for the year.
EXEC: Early Footwear Manufacturing Reports Reveal Positive YTD Trend
Yue Yuen and Feng Tay reported solid trends for the two-month YTD period, with Yue Yuen down just 0.2 percent and Feng Tay up 4.1 percent as both footwear manufacturers appear to reflect positive moves going into BTS.
EXEC: Skechers USA Agrees to Settle SEC Charges Without Admitting Guilt
The company agreed to settle charges for failing to disclose payments for the benefit of its executives and immediate family members. Skechers agreed to pay a $1.25 million civil penalty to settle the SEC’s charges, without admitting guilt.
EXEC: Inside the Turnaround Plan at Journeys, Pain Continues Into 2024
Journeys’ comps are expected to be down in the mid- to high-single-digits for the fiscal first quarter, and Genesco plans to close an additional 50 Journeys stores this year.
EXEC: Athleta Expects to See Continued Challenges in First Half
Athleta was said to be making good underlying progress, but faced tougher comparisons from the prior-year Q4 period, as the brand is lapping significant promotional volume and it’s weighing on the revenue performance.
EXEC: Foot Locker Shares Plummet as New Team Overshoots on Plan
FL shares closed down 29.4 percent for the day. Some expected give-back would come after a 43 percent run-up since the Q3 report, but others grew more concerned that FL may be too optimistic about 2024.
EXEC: Intersport Spain’s Director General Exits at Board Request
The company said that Ángel Solores, under mutual agreement, is leaving as director general and head of Intersport Spain. However, European media reported that the company had terminated Solores.
EXEC: Amer Sports Sees Q4 Growth Slow as Wholesale Declines; Posts Adjusted Net Loss
The parent of Wilson Sports, Salomon and Arc’teryx said they saw an expected deceleration from third quarter and year-to-date comparative trends due to the supply chain related sales shift that occurred from the third quarter into the fourth quarter in 2022.
