SGB Footwear

EXEC: Hibbett Gets Q3 BTS Footwear LIft as Nike Loyalty Partnership Starts to Bear Fruit

November 21, 2023 SGB Executive

Men’s and kids were reportedly both down in low-single-digits, driven by a low-teens decrease in Apparel. Footwear results in both men’s and kids were said to be up in low-single-digits. The Women’s business was up in mid-single-digits, driven by a mid-teens increase in Footwear offset by weak Apparel results.

EXEC: Foot Locker Shares Downgraded by BTIG Analysts

November 21, 2023 SGB Executive

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.”

Burlington Stores Sees Q3 Comps Expand 6 Percent

November 21, 2023 SGB Update

Burlington Stores Inc. reported an earnings uptick in the third quarter October 28 as same-store sales grew 6 percent. Sales were in line with guidance while EPS was at the upper end of guidance.

Deloitte Sees 13 Percent Hike In Spending Over Thanksgiving Weekend

November 21, 2023 SGB Update

Spending during the Thanksgiving week period is expected to be up 13 percent from last year, with shoppers expected to spend an average of $567 during the Black Friday-Cyber Monday (BFCM) shopping events, according to Deloitte’s 2023 Black Friday Cyber Monday Survey.

Caleres Lowers Outlook on Softening Sales at Famous Footwear

November 21, 2023 SGB Update

Caleres reduced its sales outlook and narrowed its annual EPS guidance to the lower end of its previous range due to weaker-than-expected sales at its Famous Footwear chain. Caleres reported earnings in the third quarter came in slightly ahead of guidance while sales underperformed.

Kohl’s Sees Q3 Comps Down 5.5 Percent; Narrows Full-Year Guidance

November 21, 2023 SGB Update

Kohl’s reported fiscal third quarter net sales decreased 5.2 percent year-over-year, to $3.8 billion, with comparable sales down 5.5 percent. In other news, Dave Alves, who joined the retailer as president and COO in late February, has left the company.

Dick’s SG Lifts Guidance as Q3 Results Fly Past Expectations

November 21, 2023 SGB Update

Dick’s Sporting Goods raised its outlook for the year after reporting sales and earnings easily topped analyst targets with the help of healthy back-to-school selling. Same-store sales in the quarter improved 1.7 percent with gains in transaction and average ticket prices.

Hibbett Sports Shares Jump in Early Trading as Retailer Raises Guidance

November 21, 2023 SGB Update

Fiscal third quarter net sales decreased 0.3 percent to $431.9 million, compared with $433.2 million for the corresponding period in 2022. Comparable sales decreased 2.7 percent year-over-year. HIBB shares were up nearly 17 percent in pre-market trading

Kohl’s Recently Hired President & COO Exits Company

November 20, 2023 SGB Update

Kohl’s, Inc. reported in a regulatory filing that Dave Alves, who joined the retailer as president and COO in late February, has left the company.

New Balance Breaks Ground on Londonderry Factory

November 20, 2023 SGB Update

New Balance broke ground on its sixth U.S. athletic footwear manufacturing plant in Londonderry, NH.

EXEC: VF Scores Upgrade from JP Morgan

November 20, 2023 SGB Executive

JP Morgan raised its rating and price targets on VF Corp. on increasing confidence that recently-hired CEO Bracken Darrell will use a similar strategy he used at his former company, Logitech International, to achieve a turnaround at the parent of Vans and The North Face.

Report: Consumers Expected to Spend $130 Billion During Holiday Weekend

November 20, 2023 SGB Update

According to the latest International Council of Shopping Centers (ICSC) Thanksgiving Weekend Intentions survey, consumers will spend $130 billion during the upcoming holiday shopping weekend, a 4 percent increase from last year’s spending expectations.