Foot Locker Banks On Second-Half Sales Pick-Up
Shares of Foot Locker Inc. fell nearly 19 percent Friday after the leading sneaker seller reported second-quarter comps arrived at the low end of expectations, leading earnings to fall just short of Wall Street’s targets. The retailer maintained its full-year earnings guidance and expressed confidence that comp growth would accelerate in the back half of the year.
‘Growth Mode’ At Exxel Outdoors Drives HQ Relocation
Exxel Outdoors—whose portfolio includes Sierra Designs, Kelty, Ultimate Direction, Slumberjack, Wenzel, X2O and others—is moving its headquarters to Broomfield, CO, from nearby Gunbarrel in the first quarter of 2020. CEO Harry Kazazian spoke with SGB about how “growth mode” across all Exxel brands drove the decision to relocate.
Aisle Talk Week Of August 19
Top headlines from the active lifestyle industry you may have missed this week, including Hestra, the 83-year-old Swedish glove maker, relocating its U.S. headquarters to a newly constructed 32,000-square-foot space in Arvada, CO, and adding three key hires as it continues to scale its U.S. business.
Athleta’s Growth Accelerates In Q2
Athleta saw an “acceleration” in growth in the second quarter and remains committed to opening 25 stores this year, Art Peck, president and CEO of Gap Inc., said on his company’s conference call with analysts.
Dick’s Q2 Boosted By Inventory Investments
Dick’s Sporting Goods Inc. raised its full-year outlook while reporting its strongest quarterly comp gain since 2016. The performance was in large part tied to a 19.0 percent hike in inventory levels. Dick’s officials indicated other newer strategies – including increasing space to faster-growing categories, forming closer partnerships with key vendors and differentiated marketing – are also starting to pay off.
Department Stores Turn To Used Clothing For Lifeline
A new business model that has at least two major department stores turning to old product for a much-needed revenue boost dominated second-quarter headlines among the retail giants. SGB’s Q2 department store roundup includes a look at the trend of online reselling, which gives price-conscious shoppers access to designer brands—and gives stores a boost to their top lines.
Outdoor Retailer, OIA Share Reasons For Show Consolidation
Marisa Nicholson, Outdoor Retailer show director, and Amy Roberts, OIA executive director, spoke with SGB Wednesday afternoon about their joint decision to cancel the upcoming Winter Market in November and instead wrap it into January’s Snow Show, reducing the outdoor industry’s premier event to twice a year. Here’s what they said about the move.
Active-Lifestyle Well Represented On 2019 Inc. 5000 List
Hyperice, Bombas, Klymit, PXG Golf, OrderMyGear, Blink Fitness and Sportique were among a number of companies in the active-lifestyle space landing on the 2019 Inc. 5000, the magazine’s annual ranking of the fastest-growing private companies in America.
Looming Tariffs Force Kohl’s To Reduce Full-Year Margin Outlook
Kohl’s Corp. rode a strong back-to-school performance and an advantageous partnership with Amazon to a second-quarter earnings and revenue beat. But costly promotions tempered the quarter while looming tariff increases sparked Kohl’s to lower profit margin expectations for the year.
TJX Sees Opportunistic Buys’ Boost From Tariffs
The TJX Companies Inc.’s second-quarter earnings were in line with Street expectations as same-store sales limped ahead 2 percent. But the off-pricer said its core apparel category remains strong and a “loaded” marketplace of opportunistic buys, driven in part by the tariff situation, is expected to support second-half growth.
Doug Sanders Talks Up MSR’s 50th Anniversary
Twenty-nineteen marks the 50th anniversary of Seattle-based Mountain Safety Research (MSR), which got its start not with a break-through product but a newsletter that raised awareness about climbing equipment safety. Doug Sanders talks to SGB Executive about the unorthodox start as well as MSR’s ongoing commitment to defying the status quo in equipment design.
Survey: Health Clubs Prospering As Revenue, Memberships Grow
The health club industry is continuing to prosper. Club visitation is growing at a steady clip as 2018 notched a record number of consumers visiting a club, and health club revenues jumped nearly 8 percent over the previous year, according to a recent study by IHRSA, The International Health Racquet & Sportsclub Association.
Aisle Talk Week Of August 12
Top headlines from the active lifestyle industry you may have missed this week, including Gearhead Outfitters, an Arkansas-based outdoor specialty retailer, acquiring Rock/Creek Outfitters in Tennessee and Uncle Dan’s Outdoor Store in Illinois from Camping World Holdings Inc.
Avenatti Motion Punches Back At Nike, But Will It Land?
Legitimate claim that Nike Inc. made illegal payments to high school hoops stars, or malicious attempt by desperate lawyer to clear his name of wrongdoing? That’s the question at the heart of the motion that attorneys for Michael Avenatti filed in federal court Wednesday to dismiss his recent indictment. SGB breaks down the latest in this ongoing saga, which includes accusations of payments to such stars as Zion Williamson.
Canada Goose Widens Loss But Also Expands Product Focus
Shares of Canada Goose Holdings Inc. didn’t take quite the nosedive Wednesday they suffered in May after the previous quarter’s softer profit outlook, but the company’s Q1 2020 performance—most notably margin decline and a widened loss—once again took a toll on its stock. CEO Dani Reiss shed some light on the reasons why in addition to what’s on the horizon for the brand.
