SGB Executive

Genesco Inc.’s first-quarter earnings came in well above Wall Street estimates as a rebound in its Schuh and branded businesses helped offset inventory shortages faced by its flagship Journeys chain. Mimi Vaughn, Genesco president and CEO, told analysts, “I’ve been describing the current fashion cycle as shifting away from fashion athletics more into casual, which plays into Journeys’ strength.”

Shares of Dick’s Sporting Goods closed up nearly 10 percent on Wednesday despite the retailer slashing its guidance for the year due to broader macroeconomic pressures. Lauren Hobart, CEO, told analysts the revision was pre-cautionary while expressing confidence that Dick’s would continue to benefit from the sports and outdoor hobbies began during the pandemic.

Shares of Caleres, Inc. rose nearly 30 percent Wednesday after the off-price footwear chain reported first-quarter results that came in well above Wall Street estimates and raised its guidance for the year. Famous Footwear marked its fifth straight quarter of year-over-year margin improvement while the Branded Portfolio segment continued its strong recovery.

Shares of exercise-equipment maker Nautilus, Inc. touched a 52-week low on the New York Stock Exchange Tuesday after the company reported a loss in the fourth quarter and forecasted an operating loss in the current fiscal year as it navigates a moderating demand for at-home fitness equipment and bloated retail inventories.

Last week’s news that Under Armour CEO Patrik Frisk is stepping down next month after a little more than two years in the position was met with expectations that the company would prioritize growth, but two analysts on Wall Street downgraded the company’s stock as Frisk’s departure creates uncertainty about the company’s direction. Effective June […]

At its Investor Day held on May 23 at the New York Stock Exchange, Vista Outdoor officials conducted a deep dive into the growth potential of its Outdoor Products and Sporting Products segments and its plan to separate the businesses into two independent, publicly-traded companies.

Foot Locker, Inc. reported a better-than-expected second quarter as steps to diversify its merchandise and vendor mix are off to a strong start. While overall comps were down 1.9 percent in the period due to tough year-ago comparisons, comps of non-Nike products increased in the high teens, led by Adidas, Puma, New Balance, Crocs, and Converse.

VF Corp. shares were up over two percent in trading overnight after the parent company for The North Face, Vans, Timberland, Altra, Dickies, and several other key outdoor and action sports brands missed fiscal 2022 Q4 estimates on both the top and bottom line. The Wall Street bump occurred as VFC came out with positive forecasts for its 2023 fiscal year.

Deckers Brands reported fourth-quarter results that came in far ahead of Wall Street targets as both Ugg and Hoka benefited from being able to get back in stock on key assortments.

Canada Goose Holdings, Inc. delivered a bullish outlook for the current fiscal year after reporting a better-than-expected fiscal fourth quarter ended April 3. The gains in the quarter were led by North American retail.

Kohl’s Corp. reduced its annual earnings and sales forecast, as the department store chain joins a string of retailers stung with soaring inflation. Michelle Gass, Kohl’s chief executive officer, told analysts, “While the quarter started off strong with positive low single-digit comp growth through late March, in April, demand considerably weakened as we lapped last year’s stimulus and as consumers started to experience inflationary pressures.”

TJX Cos. reported first-quarter earnings that exceeded expectations despite slightly softer-than-expected revenues as pricing actions helped offset inflationary pressures.

Shoe Carnival Inc. reported adult athletic footwear same-store sales in the first quarter declined 20 percent versus the stimulus-boosted 2021 period and were off “very slightly” versus the pre-pandemic first quarter of 2019. Officials said dress, casual, and sandals categories have returned to traditional pre-pandemic demand.

On was able to circumvent supply chain snarls to report first-quarter results well ahead of Wall Street targets. The Swiss running brand hiked its sales guidance for the year, forecasting at least 44 percent growth.

Solo Brands, Inc. reported that first-quarter sales climbed 19 percent despite macroeconomic headwinds with gross margins in line with expectations. John Merris, CEO, told analysts strong innovation will be critical to riding out the current inflationary and overall unstable environment.