Finish Line Shares Crash On Q4 Miss
Said CEO Sam Sato, “Elements of our offering didn’t resonate with our customers. This was true in both, running and basketball, our two largest categories where full price selling fell short of forecast.”
Sportsman’s Warehouse Already Sees Comps Dropping In 2017
Sportsman’s Warehouse reported fourth-quarter earnings that were slightly below guidance due to the slowdown in firearms sales following the presidential election. Due to tough year-ago comparisons amid the slowdown, the hunt & fish specialist also predicted a double-digit comp decline in the first quarter and a mid-single-digit comp decline for the year.
Shoe Carnival Planning Bigger Athletic Business
Said CEO Cliff Sifford on a conference call with analysts, “Athletic is and has been for the last three maybe four years the hottest category we have and we do look for athletic to grow at a higher rate than non-athletics.”
Eastern Outfitters Faces Objections Over Sports Direct Bid
In defending the stalking horse bid, Eastern Outfitter’s lawyers noted that the alternative to accepting Sports Direct’s proposal was a liquidation. Indeed, the retailer said it was “fully prepared” to liquidate ten days before the bankruptcy petition date.
Luke’s Locker Wins Court Approval To Hire Restructuring Officer
Joseph Sullivan Associates (JSA) will help determine the optimal turnaround strategy, including a potential restructuring, refinancing and/or sale of assets.
Perry Ellis Sees Momentum In Golf And Nike Swim
George Feldenkreis, chairman, said the rash of department store closures “is a positive development in the long run, especially in light of the way in which retailers moving these days and the demographic implication of Generation Z, Generation Y versus Generation X.”
Acushnet Q4 Boosted By Robust Golf Club Sales
While the bankruptcy and liquidation of Golfsmith impacted U.S. sales, Acushnet Holdings Corp. still managed to show a modest gain in sales in the fourth quarter while improving profitability.
Nike Grapples With Promotional North American Climate
Said Andy Campion, EVP and CFO, on the company’s third-quarter conference call with analysts, “Digital disruption and other dynamics are resulting in more aggressive promotional activity than we expected 90-days ago. So we are going to remain tight, with respect to the supply that we are putting into the North America market in the short-term.”
Nike Accelerates Efforts To Reach Digital Consumers
Said Mark Parker, president and CEO, “The consumer has decided digital isn’t a just part of the shopping experience. Digital is the foundation of it. This and other factors have shifted consumer patterns, especially in North America, impacting traffic, the economics of brick-and-mortar retail and is driving a more promotional environment in the near term.”
Nike Q3 Boosted By International Gains
Beyond double-digit gains in double-digit growth in Western Europe, Greater China, the Emerging Markets as well as DTC overall, Nike’s better-than-expected earnings were helped by expense leverage, higher other income and a lower effective tax rate.
SIMA Study Reveals Online’s Disruption Of Surf Retail
In its first consumer study, SIMA (Surf Industry Manufacturers Association) found that nearly one-third of Americans are inspired by surfing. But it also showed how Amazon and online shopping have completely disrupted the marketplace for surf-inspired consumer access to surf industry brands.
L.L.Bean Weathers Boycott Threats
Apparently skirting any major impact from calls for a boycott over political contributions, L.L.Bean was able to deliver sales in 2016 that were flat against the prior year.
Jeff Phillips Out At Fleet Feet Sports
Jeff Phillips has stepped down as president and CEO of Fleet Feet Sports. In a statement, Joey Pointer, CFO of Fleet Feet Sports, said he will be partnering with the Fleet Feet Sports board of directors “to lead the company through this change.”
MC Sports To Wind Down Headquarter Operations Starting March 31
While still seeking a buyer for the business as a going concern as part of its bankruptcy recovery efforts, MC Sports plans to wind down operations at its headquarters and distribution center starting March 31.
Aisle Talk, Week Of March 13
Top headlines from the active lifestyle industry you may have missed this week.
