EXEC: Dick’s SG Sees Benefits From Increasingly Differentiated Product Mix
Speaking this week at Goldman Sachs’ Annual Global Retailing Conference, Lauren Hobart, president and CEO, Dick’s Sporting Goods, said that beyond the pandemic, Dick’s had benefited from the structural changes it put in place in 2017, which helped elevate its assortment, including carrying more “high-heat” apparel and footwear products.
EXEC: Academy Sports Remains Upbeat On Second Half
Shares of Academy Sports and Outdoors, Inc. rallied 14 percent on Tuesday after the sporting goods chain reported second-quarter earnings that topped Wall Street’s consensus estimates on strength in sports & recreation and improved merchandise margins. Academy officials reiterated its guidance for the year as the retailer’s momentum continues.
EXEC: Active Lifestyle Brands All Over 2022 Inc. 5000 List
HydroJug, Brevite Backpacks, PXG, Crossrope, Hyperice, and G Fuel were a wide range of companies in the active lifestyle space to appear in the 2022 Inc. 5000 annual ranking of the fastest-growing private companies in America.
EXEC: Lululemon Not Seeing Trading Down Amid Inflationary Pressures
Lululemon Athletica, Inc.’s shares rallied on Friday after the retailer reported that traffic drove a 23 percent hike in same-store sales in the second quarter. Results easily topped analyst estimates, and guidance was lifted for the full year. Calvin McDonald, CEO, told analysts, “Importantly, we are not creating this traffic through markdowns or price promotions. Lululemon remains predominantly a full-price business.”
EXEC: Sportsman’s Warehouse Sees Pandemic-Driven Outdoor Boost Continuing
Sportsman’s Warehouse Holdings, Inc. reported that while earnings and sales in the second quarter weren’t able to reach record year-ago levels, results topped the high end of guidance and management remains confident the hunt & fish chain is well positioned to take advantage of greater interest in the outdoors post-pandemic.
EXEC: Tilly’s Sees Sharp Drop In Q3 As BTS Selling Trends Negative
Tilly’s, Inc. predicted a significant decline in third-quarter results as sales in the second quarter dropped off in the latter part of the period, attributed to inflationary pressures. Ed Thomas, president and CEO, told analysts, “Our customers continue to face the highest inflationary environment of the past 40 years.”
EXEC: Shares of Genesco Tumble On Lowered Outlook
Shares of Genesco, Inc. lost about 17 percent of their value on Thursday after the parent of Journeys slashed its outlook for the second half due to a sales slowdown in the latter part of the quarter at the Journeys chain amid inflationary pressures. Mimi Vaughn, Genesco’s CEO, told analysts, “We are seeing customers come out and shop when there is a reason to buy and retreat to conserve cash during the in-between period.”
EXEC: Duluth Trading Lowers Outlook As Sales Weaken
Duluth Trading said it sees a strong response to its new brand positioning, with the introduction of The Duluth by Duluth Trading and AKHG sub-brands. However, overall earnings in the second quarter fell below analyst targets due to macroeconomic pressures, and Duluth Trading lowered its guidance for the year.
EXEC: DSW’s Back-To-School Sales Boosted By Athletic Assortments
Designer Brands, Inc. lifted its EPS outlook for the year as DSW continues to benefit from shifting its mix “narrower and deeper” with its largest brands and emphasizing in-house brands. DSW has also had a strong start to the back-to-school season thanks to an increased assortment of athletic and kid’s products.
EXEC: Fitness Chains See Robust Recovery In Q2
Planet Fitness, Xponential Fitness and Life Time Group Holdings reported a significant uptick in revenues and membership growth in the second quarter, although not back to pre-pandemic levels. However, executives at the fitness chains told analysts they were confident they could overcome macroeconomic pressures.
EXEC: Stifel’s BTS Survey Finds Nike Dominance Continues
Stifel’s 15th annual back-to-school 2022 athletic footwear survey found that Nike’s popularity continues to be “enduring,” led by retro styles. Vans, Puma, Converse, and Hey Dude also scored high in the survey.
EXEC: Lululemon Downgraded To “Sell” By Jefferies On Long-Term Growth Concerns
Lululemon Athletica, Inc.’s shares were downgraded to “Sell” by analysts at Jefferies on expectations that the yoga-themed retailer would pull back on aggressive long-term guidance in the coming quarters.
EXEC: Athleta’s Sales Slump On Athleisure Softness
Athleta’s same-store sales slumped 8 percent in the second quarter due to a demand shift from athleisure to occasion and work-based categories as well as some fashion miscues on spring/summer product. On an analysts’ call, Bobby Martin, interim CEO of Athleta’s parent, Gap Inc., remained confident Athleta would return to its mid-teens growth target.
EXEC: Hibbett Eyes Robust Return To Growth In Second Half
Hibbett Inc. reported second-quarter earnings that fell short of analyst targets. However, the sporting goods chain raised its second-half comparable sales guidance due to improved inventories and favorable sales trends for the back-to-school shopping season to maintain its earnings guidance for the year.
EXEC: Shoe Carnival Shares Surge As Market Embraces Expanding Margins, Shrugs Off Q2 Miss
The parent company of the Shoe Carnival and Shoe Station retail banners sees profitability continuing to increase as the company’s strategic plans to double operating profit margins versus historical levels “continues to work,” according to management.
