Nike, Inc. Posts Double-Digit Growth Across Regions In Fiscal Q2 As EPS Beats Outlook
Nike, Inc. reported fiscal 2023 third quarter reported revenues were $12.4 billion, up 14 percent compared to the prior year and up 19 percent on a currency-neutral basis. Diluted EPS declined 9 percent to 79 cents a share. Inventories for Nike, Inc. were $8.9 billion, up 16 percent.
Amazon To Lay Off Another 9,000 Employees
Amazon’s Andy Jassy, the company’s chief executive, said in a note to employees on Monday that the company is laying off 9,000 corporate and tech employees by the end of April, adding to the 18,000 jobs it cut late in 2022 and again in January 2023.
On’s Revenues Surge 92 Percent In Fourth Quarter
On Holding AG significantly decreased its loss in the fourth quarter ended December 31 as sales vaulted 91.9 percent. For the current year, the Swiss running brand predicts sales will grow 39 percent.
The Buckle Sets New Quarterly Dividend
The Buckle, Inc. board of directors authorized a 35 cents per share quarterly dividend to be paid to shareholders of record at the close of business on April 14, with a payment date of April 28.
Rab, Lowe Alpine Names Industry Vet As U.S. Country Manager
Rab and Lowe Alpine hired industry veteran Adam Chamberlain as U.S. Country Manager responsible for domestic operations in the United States.
K-Swiss Appoints Footwear Industry Vet As International Brand President
K-Swiss hired athletic footwear industry veteran Rob Langstaff as international brand president.
NRF Sees Easter Spending Reaching Record $24 Billion; Clothing Forecast At $4 Billion
According to the annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics, consumers plan to spend $24 billion on Easter this year, up from $20.8 billion in 2022 and the previous record high of $21.7 billion in 2020, with 81 percent of Americans celebrating the holiday and spending on average $192.01, the highest figure to date.
Foot Locker’s Q4 Tops Wall Street Targets, Sets Long-Term Growth Plan
Foot Locker, Inc. reported fourth-quarter earnings below year-ago levels, but sales and earnings were ahead of Wall Street estimates. The sneaker retailing giant forecasted same-store sales would fall 3.5 percent to 5.5 percent; however, today, during its Investor Day conference, Foot Locker said it would outline a new long-term growth strategy that calls for same-store growth between 3 percent to 4 percent from fiscal years 2024 through 2026 and significantly higher EPS growth.
REI Names Chief Merchant, Chief People Officer, Co-Op Brands VP
REI Co-op hired Apple Musni as chief people officer, effective March 20. The company also promoted Chris Speyer to senior vice president and chief merchandising officer and Isabelle Portilla to vice president, Co-op Brands, effective immediately.
Start 2 Finish Acquires Fleet Feet Race Productions
Start 2 Finish Event Management, with offices in Atlanta, GA; Charlotte, NC; and Memphis, TN, reported it had acquired the Race Productions division of Fleet Feet St. Louis to expand its reach in the Midwest and further establish itself in the event management industry.
Wolverine Worldwide Announces New Board Chairman And Directors
Wolverine World Wide, Inc. reported today that its Chairman and retired CEO, Blake Krueger, will retire from the Board on May 4. Tom Long, the Board’s lead independent director, will assume the role of Chairman on May 4. The company also elected three new board members—Stacia Andersen, Jodi Bricker and DeMonty Price.
361 Degrees Posts 17 Percent Revenues Growth In 2022
Hong Kong-based 361 Degrees International Ltd. reported earnings grew 24.2 percent in the year ended December 31 as sales expanded 17.3 percent.
Shoe Carnival Names New CFO
Shoe Carnival, Inc. hired Erik Gast as executive vice president and chief financial officer, effective April 24. He replaces Kerry Jackson who is retiring after a 35-year career with the family footwear chain.
Signa Sports Fiscal Q1 Sales Up 27 Percent But Margins Suffer From Inventory Woes
Signa Sports United N.V. reported that the operating environment in the first quarter of fiscal 2023 was a continuation of the prior quarter, with depressed consumer sentiment and a promotional overstocked market, in particular in the bike category.
Academy Sports Q4 Earnings Fly Past Wall Street Targets
Academy Sports and Outdoors Inc. reported earnings on an adjusted basis increased 12.5 percent in the fourth quarter ended January 28 as lower freight costs and overall operating expenses offset a 5.1 percent decline in same-store sales. EPS easily topped analysts’ consensus estimates while sales were below.
