SGB Executive Footwear
Billabong Explores Quiksilver Merger
Shares of Billabong climbed 23 percent after the company disclosed that Boardriders Inc., formerly known as Quiksilver Inc., had made an offer to acquire the company. Billabong indicated that its board will evaluate the proposal.
Zumiez Delivers 5th Straight Quarter Of Comp Gains
Feeling its locked in on the young omnichannel shopper, Zumiez Inc. reported third-quarter earnings that hit the high-end of its guidance and offered an optimistic outlook for the fourth quarter.
Brooks Unveils Its First Customized Running Shoe
At The Running Event in Austin, Brooks Running Company unveiled a new partnership with HP Inc. and Superfeet that will create the first performance running shoe based to an individual’s unique biomechanics.
Tilly’s Momentum Continues In Q3
Benefitting from its sixth consecutive quarter of positive comp sales, fourth consecutive quarter of store traffic growth and continued strict inventory and expense management, Tilly’s Inc. reported third-quarter earnings that handily topped Wall Street’s targets.
HSBC Downgrades Nike Over Possibly “Painful” U.S. Distribution Shift
HSBC lowered its rating on Nike Inc. to “Hold” in part due to the recent bump-up in its shares but also because of the likely challenges Nike will face in its plan to aggressively shift away from undifferentiated retail environments.
Holiday Selling Starts Off With A Bang
According to reports from the National Retail Federation (NRF), Adobe and ComScore, sales surged ahead from Thanksgiving through Cyber Monday, providing a heap of optimism for the rest of the holiday selling season. Not surprisingly, online purchases again strongly led the gains and smartphones expanded as a key driver of transactions.
Famous Footwear’s Momentum In Lifestyle Athletic Continues
Rick Ausick, president of Famous, said, “There’s been a few things that look promising, but nothing that I would say are taking over from that athleisure sports-style trend that we’ve been seeing for the last 12, 18 months.”
Aisle Talk, Week Of November 20
Top headlines from the active lifestyle industry you may have missed this week.
Maurice Sporting Goods’ Trip To Bankruptcy Court
In court papers, Maurice Sporting Goods blamed challenges consolidating its U.S. distribution centers, debt taken on from recent acquisitions and the spate of bankruptcies in the sporting goods industry as the reasons for its bankruptcy filing.
DSW Absorbs Massive Writedown For Ebuys
DSW Inc. took a significant impairment charge for Ebuys, an off-price online retailer acquired early last year, while also reducing its outlook for the year due to shortfalls at Ebuys and the impact of weather.
Shiekh Shoes Seeks Financing
Shiekh Shoes is seeking financing to avoid a bankruptcy filing, according to a report in Reuters. Owner Shiekh Ellahi blamed the urban chain’s struggles on online competition.
Hibbett Sports Hikes Outlook After Q3 Beat
Hibbett Sports lifted its outlook for the year after reporting that underlying sales trends significantly improved in the third quarter. Comps were down 1.3 percent versus an 11.7 percent tumble in the second quarter with notable improvement in footwear, apparel and team equipment.
Foot Locker’s Shares Skyrocket On Hopeful Forecast
Shares of Foot Locker Inc. vaulted $8.97, or 28.2 percent, to $40.82 on Friday after the sneaker powerhouse reported third-quarter earnings that topped Wall Street’s targets and indicated that results for the full year may exceed guidance. Foot Locker officials also outlined a number of steps it’s taking to revive top-line growth.
Aisle Talk, Week Of November 13
Top headlines from the active lifestyle industry you may have missed this week.
Shoe Carnival Lifts Outlook On Robust Athletic Trends
Said Cliff Sifford, CEO, “We believe the positive athletic and athleisure trend happening in the family footwear channel will continue, and we have reallocated inventory dollars to those specific categories for the fall season to take advantage of this trend.”
