SGB Executive Sports & Fitness

EXEC: Academy Sports Sees Weather/Consumer Woes Derailing Sales Recovery

Academy Sports and Outdoors, Inc. said a slow start to fall selling due to warmer temperatures as well as continued weak consumer demand caused third-quarter results to miss plan, resulting in a downward revision to full-year guidance. CEO Steve Lawrence said on an analysts call, “We feel like we don’t have a challenged strategy. We’ve got a challenged customer.”

EXEC: Foot Locker Finds Progress with Lace-Up Strategy

Shares of Foot Locker, Inc. rose about 16 percent Wednesday after the sneaker juggernaut reported better-than-expected third-quarter results, encouraging sales trends so far in the fourth quarter and what Mary Dillon, president and CEO, hailed as several “early wins” in the company’s Lace Up transformation program.

EXEC: Wall Street Reacts to Strong Q3 for Dick’s and Hibbett

The third-quarter earnings beats and raised guidance for both Dick’s Sporting Goods and Hibbett increased investor confidence that the athletic retail space is positioned to at least outperform the broader retail sector in a challenging marketplace, although some analysts were concerned about margin pressures at Dick’s.

EXEC: Dick’s SG Beats Q3 Expectations, Bullish on Holiday Selling

Boosted by a “very strong” back-to-school selling season, Dick’s Sporting Goods posted above-plan third-quarter results, lifting its guidance for the year. Lauren Hobart, president and CEO, told analysts, “We are pleased with how our consumer is holding up within the sporting goods industry and then particularly that they’re choosing Dick’s increasingly to meet their needs.”

EXEC: Foot Locker Shares Downgraded by BTIG Analysts

BTIG is taking the opportunity to step to the sidelines despite continuing to believe in the “significant low-hanging fruit at FL and the company’s potential as CEO Mary Dillon implements her playbook.”

EXEC: Gap Sees Athleta’s Recovery Taking Longer Than Planned

Athleta’s sales declined 18 percent in the third quarter against “heavy discounting” a year ago and are expected to decline double-digits in the fourth quarter as the retailer’s recovery from recent fashion miscues has taken longer than expected.

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