SGB Executive

Tributes poured across social media from former co-workers, footwear partners, tech investors and political pundits following the shocking death of Tony Hsieh, Zappos’ visionary, at the age of 42.

Athleta delivered 35 percent sales growth in the third quarter, with September reaching the highest sales comp in the history of the brand. Said Sonia Syngal, CEO, Gap Inc., “Athleta is our fastest growing and most profitable brand.”

Shares of Dick’s Sporting Goods barely budged on Tuesday despite the retailer reporting third-quarter results that nearly doubled Wall Street’s targets on accelerating same-store growth and also announcing that Lauren Hobart would be succeeding long-time CEO Ed Stack. Wall Street was nonetheless impressed by the performance with some gaining more confidence in Dick’s growth prospects for 2021.

Dick’s Sporting Goods reported the best quarterly store comp in its history as a public company as home fitness and outdoor activities continue to be embraced during the pandemic. However, the performance was overshadowed by the announcement that Ed Stack, CEO since 1984, will soon be succeeded by Lauren Hobart, the retailer’s president.

With resort restrictions leading more consumers to venture into the backcountry this winter, never has avalanche education, awareness and preparedness been more important. As for gear, this could mean burgeoning sales for the avalanche category including beacons, probes and shovels. SGB Executive interviewed several vendors who occupy the avalanche beacon space and who have introduced new products to bolster retail sales and customer safety.

With growth returning in every business unit in the September quarter, Delta Apparel reported year-over-year sales growth of 8.1 percent and a 70 percent improvement in operating profit in the fiscal fourth quarter ended October 3. Highlights include nearly 30 percent growth in its digital print business, DTG2Go, and a 12 percent climb at Salt Life.

Hibbett Sports Inc. reported third-quarter earnings skyrocketed more than four-fold on a 21.2 percent same-store gain. Highlights of the quarter included overall apparel comps climbing in the mid-thirties, overall footwear comp gains in the low-twenties, and a women’s comps across footwear and apparel leaping in the low-fifties.

Caleres, Inc. saw Famous Footwear and the Caleres Brand Portfolio both outpace expectations in the fiscal third quarter ended October 31 even as revenues declined for each segment.

Foot Locker said continued strength in its basketball footwear business and a pickup in apparel due to stay-at-home trends helped drive same-store sales ahead 7.7 percent in the third quarter and lifted earnings well ahead of Wall Street’s targets. Men’s, basketball, boots and seasonal footwear as well as women’s footwear overall delivered double-digit comp gains in the quarter.

Elan USA President and CEO Jeff Mechura is no stranger to Zoom meetings. Like most companies affected by the pandemic, the ski company, which makes its products in Slovenia, adopted it early on to communicate with its retailers, reps, suppliers, designers, and manufacturers. SGB Executive caught up with Mechura for his view on the pandemic, spicing up virtual meetings and helping retailers sell-through for the upcoming season.

The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of November 16, 2020, covered in the SGB Updates and delivered to your inbox every business day. — November 20, 2020 — ›The Buckle’s Q3 Earnings See Sharp Uptick The Buckle Inc. reported earnings rose 60 percent in the […]

The TJX Cos.’s third-quarter results exceeded Wall Street targets with strength in activewear, home and beauty categories. However, TJX officials warned that holiday selling would likely be hampered by a surge in COVID-19 cases here in the U.S.

Shoe Carnival delivered its most profitable quarter in the company’s history helped by reduced promotional activity and strength in performance sandals and athletic footwear. The off-price retailer also posted a comp gain in the period despite delayed back-to-school selling.

Wells Fargo upgraded Under Armour’s stock due in part to expectations that the stock could be the “Next Big Athletic Turnaround.” Wrote analyst Tom Nimic in a note, “A major reason why athletic turnaround stories work so well is that the fundamental improvement in the companies tends to be extremely robust.”

Under the new leadership of John Scipio and Jason Lutz, Schuylkill Valley Sports (SV Sports), the sporting goods chain based in Pottstown, PA, is looking to reinvent itself with a goal of bringing greater personalization, experiential activations and technological innovations to the staid team sports retailing space.