SGB Executive Footwear
EXEC: Sportsman’s Warehouse Sets Aggressive Markdowns as Business Weakens Further
Shares of Sportsman’s Warehouse are running down about 17 percent in pre-market trading Thursday as the hunt & fish chain’s second-quarter earnings came in well below guidance and another double-digit comp decline was forecast for the third quarter.
EXEC: Amer Sports Files Confidentially to Go Public
Amer Sports, the parent of Salomon, Wilson, Arc’teryx and other sports brands, filed confidentially for a U.S. initial public offering that could value the group as high as $10 billion. The offering would come as Amer Sports’ business has seen accelerated growth, driven by Arc’teryx and Salomon and growth in China.
Study: American Malls Making a Comeback Post-Pandemic
A study conducted by Coresight Research found that traffic at U.S. shopping malls has recovered and surpassed pre-COVID levels, supported by the “halo effect” created by a brand’s online and offline presence in a mall, brand synergy in malls and omnichannel retail investments.
EXEC: Tilly’s Execs Remain Cautious Despite Improving Q3 Trends
Comparable net sales, including both physical stores and e-commerce, decreased by 8.5 percent on top of the 16.5 percent decrease posted in the prior-year Q2 period. The retailer saw early Q3 comps down in the low- to mid-single digits.
EXEC: Lululemon Claims North America Market Share Gain Despite Slower Q2 Growth
While its outsized growth in China continues to get much of the media attention, Lululemon Athletica, Inc. churned out sales gains of 11 percent in the second quarter in North America, slowing from the 17 percent growth in the first quarter.
EXEC: Caleres Sees Famous Footwear Gaining Share
Famous Footwear’s same-store sales declined 4.3 percent in the second quarter but showed sequential improvement from the first quarter and is estimated to be taking market share. Jay Schmidt, president and CEO of Caleres, the parent of Famous, told analysts on a call, “During the second quarter, Famous continued to navigate difficult spending trends among its target consumer and the challenging economic backdrop overall.”
EXEC: Academy Sports’ Shares Jump On Upbeat Outlook
Shares of Academy Sports and Outdoors, Inc. closed up $4.63, or 9.3 percent, to $54.57 Thursday as second-quarter earnings topped analysts’ estimates and the retailer reiterated its guidance for the year. Academy officials said sales steadily improved throughout the second quarter as customers responded to its message around value and newness.
EXEC: Genesco Shares Surge as CEO Highlights an Improving Picture at Journeys
Board Chair, President and CEO Mimi Vaughn said that thus far in the third quarter, sales trends for the back-to-school season improved a little further with consumers shopping when there is a reason and much closer to need.
EXEC: Symphony Holdings Posts Solid H1 as Brand Division Jumps 24 Percent
The Branding segment, which is comprised of the Skins and Pony businesses, sourcing, manufacturing and trading of healthcare products in Hong Kong and distribution of Sunseeker swimwear, posted a 24.2 percent YoY increase for the first half period. Still, the majority of revenues come from its malls leasing segment.
EXEC: Shoe Carnival Sees Athletic Sales Trends Improve in Q2
Shoe Carnival, Inc. reported that same-store sales in the adult athletic category were down low single digits in the second quarter but improved sequentially from down low-teens in the first quarter. Company officials told analysts the category continues to benefit from “materially” improved inventory levels versus last year and a new campaign designed to “reactivate” former athletic footwear purchasers.
EXEC: Active Lifestyle Well Represented on 2023 Inc. 5000 List
Golftec, Xero Shoes, SylvanSport, Stinger Sports, Bases Loaded and GiantMouse are brands in the wide range of companies in the active lifestyle space to land in Inc’s 5000 for 2023 annual ranking of the fastest-growing private companies in America—a snapshot of companies’ performance from 2019 to 2022.
EXEC: Symphony Holdings Warns of Increased Loss for H1 Period
The company is the owner of the trademark and patent of compression wear brand Skins. The Group also operates the Pony footwear brand in APAC countries, excluding China and Taiwan regions, with Iconix International Inc.
BTS Study: Nike Losing Ground With Retailers as Others Gain Favor
Nike continues to be the most popular brand at retail for back-to-school (BTS) footwear by a wide margin, according to Stifel’s 16th Annual Back-to-School Athletic Footwear Survey of major athletic footwear sellers.
EXEC: Department Stores Stung by Apparel Category Woes
Macy’s, Nordstrom, Kohl’s, and Dillard’s saw sales decline in the second quarter as the retailer’s core apparel category faced promotional pressures and weak demand. The active category was a bright spot for Nordstrom, but continued to struggle at Macy’s and Kohl’s.
EXEC: Hibbett Shares Jump on Q2 Beat, Reiterated Guidance
Shares of Hibbett, Inc. surged 22.2 percent, to $45.03 on Friday after Q2 sales arrived in line with guidance due to a strong start to back-to-school selling and as strength in some better footwear brands offset weakness in secondary brands and franchises.
