Sheikh Shoes Betting On Nike For Turnaround
Sheikh Shoes ultimately blamed its trip to bankruptcy court on its inability to secure shipments from Nike, by far its largest supplier that holds an unsecured creditor’s claim of $16 million in the case. But it’s also counting on Nike to revive its fortunes.
Genesco Sees NFL’s Challenges Challenging Lids
Bob Dennis, Genesco’s CEO, said “the well-publicized challenges facing the NFL have meaningfully dampened demand for NFL licensed merchandise during the heart of football season” to impact Lids’ sales during the third quarter. Also impacting lids has been a less-favorable MLB playoff lineup, a disappointing performance this year by some key college teams, and a lack of a strong headwear trend.
Aisle Talk, Week Of November 27
Top headlines from the active lifestyle industry you may have missed this week.
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.
Perry Ellis Sees Nike Swim And Golf Climb Double Digits
Perry Ellis International Inc. reported sales in its Golf segment grew low double-digits in the third quarter while Nike Swim leapt 40 percent.
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.
Delta Apparel Sees Further Stabilization In Q4
Delta Apparel reported earnings in its fiscal fourth quarter declined slightly due to the sale of its Junkfood business, but continued to see underlying improvement in most of its core businesses.
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.
