EXEC: Hibbett Sees Q4 Sales Growth Accelerating
Hibbett, Inc. reported that third-quarter EPS came in below Wall Street estimates partly due to increased apparel promotional activity. However, the retailer reiterated guidance for the full year as it expects growth to accelerate in the fourth quarter on strong demand for athletic footwear.
EXEC: Off-Pricers Sidestep Promotional Pressures To Deliver Healthy Q3 Results
The country’s two biggest off-pricers, TJX Cos. and Ross Stores, both lifted their outlook for the fourth quarter after reporting third-quarter earnings that exceeded guidance as apparel sales outpaced many of their full-priced competitors. Burlington Stores’ reported results that came in at the lower end of guidance and slightly reduced for the year, but is optimistic that a realigned sales mix emphasizing value will drive sales in the quarters ahead.
EXEC: Famous Footwear Unable To Top Year-Ago “Blockbuster” Results In Q3
Famous Footwear’s same-store sales slipped 0.8 percent in the third quarter ended October 29. Results topped expectations with the family footwear chain facing a 26.5 percent same-store gain in the 2019 third quarter. Jay Schmidt, president of Caleres, on a conference call with analysts, said, “By limiting promotional activity, the business generated margins higher than pre-pandemic levels.”
EXEC: Dick’s SG Sees Top-Line Growth Build On Recent Momentum
Dick’s Sporting Goods’ third-quarter earnings declined due to aggressive markdowns on apparel but came in well above Wall Street targets as sales remained strong. The sporting goods giant also noted that results remain significantly above 2019 levels while lifting its guidance for the second straight quarter.
EXEC: Delta Apparel Sees Dip In Annual Profits On Inflationary, Inventory Pressures
Delta Apparel managed to rack up another year of double-digit top-line growth although earnings were slightly down due largely to higher cotton prices. Production curtailments are also expected to continue through the next two quarters to realign inventories due to a pullback in activewear orders in the mass channel.
EXEC: Foot Locker Finds Surprise Boost From Nike In Third Quarter
Foot Locker Inc. reported third-quarter results that surpassed expectations due to improved allocation of Nike products on top of continued success in its diversification efforts to feature other footwear brands. The sneaker giant lifted its guidance for the year. Mary Dillon, Foot Locker’s new CEO, told analysts, “Our relationship with Nike is very important. It’s strong.”
EXEC: Athleta Sees Q3 Sales Stabilize, Looks To Open 30 Stores In 2023
Athleta’s comps were flat year-over in the third quarter as the chain continues to feel the impact of a demand shift from athleisure to occasion and work-based categories. However, success with lifestyle offerings led to significant improvement versus recent quarters.
EXEC: Macy’s Benefits From A Return To Dressing Up
Macy’s, Inc. raised its guidance for the year as third-quarter results topped analysts’ estimates in large part because consumers have returned to purchasing career and other dressier offerings. “Customers continue to return to in-person post-pandemic shopping experiences, and were searching for occasion-based products, including career in tailored sportswear, dresses and luggage rather than popular pandemic […]
OR To Shift 2024 Winter Show To November 2023, Adds January Conference
Outdoor Retailer said that starting November 2023, the Outdoor Retailer Snow Show will shift from early January to November and be rebranded as Outdoor Retailer Winter.
EXEC: Kohl’s Pulls Full-Year Outlook, Citing Retail Volatility
Kohl’s Corp., in its first report since announcing its former CEO Michelle Gass would be joining Levi’s Strauss, reported results that were in line with preliminary guidance provided last week. Kohl’s told analysts that it was withdrawing its guidance for the year but said the CEO change doesn’t mean a change in strategy.
EXEC: On’s Momentum Builds In Q3
On, the Swiss running brand again raised its full-year outlook after reporting earnings in the third quarter ended September 30 surged 20.5 percent on an adjusted basis on a 50 percent sales gain. The gains were helped by strong product responses and expansion at Dick’s, Foot Locker and Nordstrom and came despite logistics disruptions at its Atlanta warehouse.
EXEC: Shoe Carnival Records Second-Best Third Quarter For Sales
Shoe Carnival, Inc. reported sales reached the second highest level for any quarter in the family footwear chain’s 44 years in existence, only behind last year’s levels that benefited from government-stimulus measures. Boosted by non-athletic offerings, the family footwear chain’s sales were well above pre-pandemic third quarter of 2019, indicating strong growth momentum.
EXEC: Ammo Slashes Guidance On Weakening Demand
Ammo, Inc. dropped into the red in the second quarter that ended September 30 as sales fell 21 percent and gross margins eroded on higher commodity costs. The owner of the GunBroker.com marketplace and ammunition manufacturer also lowered its annual guidance due to softening market conditions.
EXEC: Solo Brands’ Q3 Sales Surge 47 Percent
Solo Brands delivered third-quarter results ahead of expectations on strong responses to launches across its brands. Sales guidance for the year was slightly lowered due to heightening macroeconomic pressures but guidance for gross margin and EBITDA margin was maintained.
EXEC: SportChek’s Q3 Sales Restrained By Tough Comparisons
SportChek’s comps were slightly down in the third quarter against a double-digit gain in the year-ago period, officials at parent Canadian Tire said on an analyst call. Growth in cycling and casual clothing partially offset the decline in athletic clothing and footwear against last year. On the call, Gregory Craig, EVP and CFO, said, “At […]
