EXEC: Sports Direct Parent Frasers Makes Play for Nordic Region Sports Retailer
Journeys Parent Genesco, Inc. Ups Guidance on Strong Q4, Nice Start to Q4
Lululemon Raises Full Year Guidance After Strong Q3 and Expectations for Solid Q4
EXEC: Sports Direct Parent Fraser Group Cuts FY Guidance on Consumer Headwinds
EXEC: Foot Locker Sees Nike Softness in Q3 While Adidas, NB, Asics, On, and Hoka Shine
SGB Update
NRF Chief Economist Sees Strong Q3 Results Boding Well for Holiday Retail Season
Many consumers started shopping earlier because a late Thanksgiving left five fewer shopping days before Christmas than in 2023. Based on data that the National Retail Federation has seen so far, conditions are shaping up for a successful holiday retail season.
NRF Report: 2024 Retail Returns to Total $890 Billion
Improving the returns experience and reducing the return rate are two essential elements for businesses in achieving their 2025 goals.
Zumiez Swings to Q3 Profit on 7.5 Percent Comps Gain; Offers Strong Q4 Guide
Net sales for the fiscal third quarter increased 2.9 percent to $222.5 million but the company noted that the shift in the retail calendar had a negative impact on Q3 results, decreasing net sales growth by approximately 510 basis points.
Journeys Parent Genesco, Inc. Ups Guidance on Strong Q4, Nice Start to Q4
For the full year, the parent of Journeys, Schuh and Johnston & Murphy now expects total sales to be down 1 percent to flat compared to Fiscal 2024 versus prior expectations for a total sales decrease of 1 percent to 2 percent.
Gymshark CFO Departs Amid Profit Decline
Gymshark did not provide a reason for Mat Dunn’s departure. He was hired in December 2022. The announcement follows the company reporting a £13m pre-tax profit for the year ending July 31, 2023, a decrease from £27.8m in the previous 12 months.
SGB Executive
EXEC: Sports Direct Parent Frasers Makes Play for Nordic Region Sports Retailer
Michael Murray, CEO of Frasers Group, offered, “Our strategic vision and industry experience position us uniquely to help XXL navigate its current challenges. We are committed to ensuring that XXL reaches its full potential.”
EXEC: Sports Direct Parent Fraser Group Cuts FY Guidance on Consumer Headwinds
The UK-based parent of the Sports Direct, Flannels, Jack Wills, House of Fraser, and Gieves and Hawkes retail brands saw shares fall over 10 percent on the LSE after the global sports and lifestyle retail giant issued a profit warning for the full-year.
EXEC: Foot Locker Sees Nike Softness in Q3 While Adidas, NB, Asics, On, and Hoka Shine
Management pointed out that Foot Locker returns to growth with Nike on an allocation basis during the holiday season and also have a favorable launch calendar.
EXEC: Nike to Wind Down Digital Sneaker Design and NFT Company RTFKT in January
RTFKT has also announced its plan to wind down operations by January 2025 on X (fka Twitter), noting it would release one final collection, Blade Drop.
EXEC: JD Sports Completes Acquisition of Largest Sneaker Retailer in France
The company has completed its acquisition of Groupe Courir S.A.S. following receipt of conditional clearance from the European Commission on October 22, 2024 and the satisfaction of all other outstanding conditions.
