SGB Footwear

Adidas Gets Debt Upgrade by S&P on Improving Performance

S&P Global Ratings raised its debt ratings on Adidas due to the brand’s stronger-than-expected deleveraging trend, mainly driven by the group’s sustained momentum in its underlying operating performance and cash flow generation improvements versus  previous forecasts.

Tilly’s Q1 Same-Store Sales Retreat 7 Percent

The surf & skate chain logged a slightly wider loss in the first quarter ended May 3 as same-store sales dropped 7.0 percent. The sales decline was smaller than in the fourth quarter, with further improvement seen so far in the second quarter.

The North Face Hit with Cyber Attack

The company discovered a “small-scale” cyberattack in April of this year, and an unauthorized party may have stolen some personal information from its customers but not their financial information, which TNF processes through a third party.
 

Genesco’s Fiscal Q1 Boosted by 8 Percent Comp Gain from Journeys Group

First-quarter earnings topped expectations as sales exceeded plan, led by an 8 percent increase from Journeys Group, while expenses benefited from cost-containment efforts. The performance marked the company’s third consecutive quarter of positive comparable sales gains and guidance was reiterated for the year.