EXEC: Designer Brands CEO Digs Deeper into DSW Results as August Comps Turn Positive
The parent of the DSW, The Shoe Co., and Rubino retail brands, and Topo Athletic, Keds, Le Tigre, Hush Puppies, and other footwear brands, also had to come to terms with the impact of the economy on their customers and cut guidance for the full year.
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: August Footwear Factory Shipments Show Mixed Trend Lines
Yuen Yuen, one of the largest active lifestyle footwear manufacturers, saw growth trends improve in August, increasing over 21 percent y/y, while Feng Tay, one of the longest-tenured makers of Nike footwear, saw shipments decline for the month.
EXEC: Giant Group Ekes Out Another Sales Increase in August Against Easy Comps
The increase was more moderate than the 16.6 percent increase in July. Still, it was good news as the company faces easier comparisons against an ugly fall shipping period last year.
EXEC: Vista Outdoor Confirms New $3.3B Bid; Adjourns Stockholder Meeting (Update)
The new offer represents a 41.4 percent premium to the VSTO share price the day before MNC’s first offer in February and a 12.3 percent premium over the company’s $38.29 closing price on Friday, September 6. But all is not well in this relationship.
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: American Outdoor Brands Stymied by Q1 Shooting Sports Weakness
New products reportedly “performed well” across several brands in both the Shooting Sports and Outdoor Lifestyle categories, helping to offset declines and deliver net sales in the quarter.
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.
