SGB Executive

A host of analysts lifted their price targets on Dick’s Sporting Goods after the retailer’s first-quarter report showed online sales accelerating during the pandemic and many stores comping positively as they’ve reopened. Insights from Goldman Sachs, Stifel, Susquehanna, Morgan Stanley and Cowen.

Tilly’s Inc. played every card in their hand to reduce cash burn in the fiscal first quarter ended May 2, including closing stores and its distribution center, holding back store rent payments, canceling orders, cutting executive pay, furloughing employees and tapping into its revolver, but the closure of all stores in their 239-door portfolio since March 18 was too much to overcome in the period.

Canada Goose Holdings Inc told analysts during its fourth-quarter conference call that the brand plans to limit shipments to wholesale accounts and focus on its own stores and online to bolster profit margins as it looks to cushion the blow from the COVID-19 pandemic.

The June survey of run specialty independents from the Running Industry Association (RIA) found the wide majority of locations have opened, sales for about one-third are starting to match or exceed year-ago levels, and owners overall are much more confident about their business versus a similar March survey conducted by the RIA.

Retail surveys and studies that arrived last week explored renewed optimism by Americans in support of small business, and in shopping overall, as COVID-19 lockdown measures are being lifted nationwide. Also explored in the studies were how retailers adjusted to lockdown measures, how people expect their lives to change post-COVID-19 and teen interest in entrepreneurship.

Findings from a special COVID-19 edition of the North American Camping Report compiled by Kampgrounds of America (KOA) in late April indicate that travel limitations and overall caution due to COVID-19 are drawing more campers and first-time campers to the outdoors.

Nordstrom’s sales tumbled 40 percent during its first quarter, but officials said aggressive steps to reduce inventory and preserve cash will help the retailer in the near term while an accelerated expansion of its online and off-price business will better position the company for the long term. CEO Erik Nordstrom, told analysts Nordstrom Rack is “just a huge part of our future.”

Over 60 male and female mannequins are dressed in local fashion in Lithuania’s capital, Vilnius, to coax customers back to dine in restaurants. The mannequins will have round-the-clock reserved seating in the capital’s restaurants and cafes. Plus more top National stories and the Latest Headlines from SGB Updates across the Active Lifestyle Market follows.

A number of Wall Street firms have raised their price targets on Peloton Interactive Inc. in recent weeks amid signs that fitness enthusiasts are discovering, and embracing, its interactive exercise equipment and programs as a replacement for shuttered gyms.

Big 5 Sporting Goods sales were crushed by the pandemic in March and April but May’s comps have turned positive as stores have gradually reopened. On its first-quarter conference call, Big 5 officials also said quick moves to manage inventories and expenses have put the retailer in solid shape to absorb any fallout from the pandemic.

Hibbett Sports, like many retailers, saw sales fall off the table after the coronavirus spread across the U.S. in mid-March, but online sales thereafter accelerated and in-store sales accelerated toward the end of April and have continued into May as many of its stores reopened. Hibbett officials, however, said the sales outlook remains uncertain.

Over 70 percent of sports and fitness manufacturers and businesses reported a sales drop of over 25 percent for the month of April as most of the country’s stores were closed to prevent the spread of the coronavirus, according to a survey of industry participants by the SFIA. But the survey indicated aggressive steps are being taken to minimize the damage with some improvement expected in the back half.

After closing most of its stores on March 17, Foot Locker is regaining traction at a slow pace as stores re-open in part because many of Foot Locker’s stores are in urban tourist areas that are seeing weaker traffic. However, even online sales were held back in the quarter as footwear sales are in lower demand with consumers focused on groceries and other essentials.

Deckers Brands’ fourth-quarter results missed targets due to the arrival of COVID-19 but continued momentum from Hoka One One as well as triple-digit online growth is helping limit the damage. Hoka’s revenues are up in the low 30 percent range quarter-to-date period after expanding 51.8 percent in the fourth quarter.