Canada Goose Lowers Outlook Despite Q2 Exceeding Expectations
Canada Goose Holdings Inc. reported results for the second quarter ended October 2 that easily topped analyst estimates but the company reduced its outlook for the year due to weakness in China as well as the uncertain global macroeconomic climate.
Big 5’s Q3 Earnings Arrive Near Top Of Guidance
Big 5 Sporting Goods Corp., as expected, reported sales and earnings in the third quarter came in below year-ago levels, but earnings arrived at the higher end of guidance, and sales exceeded pre-pandemic 2019 levels. Fourth-quarter same-store sales are projected to decrease in the high single-digit to low double-digit range.
US Sports Camps Hires SVP Tennis & Pickleball
US Sports Camps (USSC), the official provider of Nike Sports Camps, announced the addition of Mike Nakajima as the new senior VP of tennis/pickleball. He was formerly Nike’s tennis sports marketing director.
VF’s Debt Ratings Downgraded By S&P
S&P Global Ratings lowered its debt ratings on VF Corp. as the company’s credit metrics are expected to remain pressured with leverage above 3x in fiscal 2023 due to elevated debt levels. The downgrade follows a similar move by Moody’s in mid-October.
Academy Sports Opens Store In Houston
Academy Sports + Outdoors opened a store in Meyerland, TX, its 33rd store in the Houston area, and its 107th store in Texas.
REI Names VP, Financial Planning And Analysis
REI Co-op hired Patrick Fell as vice president, financial planning and analysis, effective November 7. Most recently, he was vice president of finance at StockX.
Ugg Opens First ‘Feel House’ Pop-Up In Brooklyn
Ugg opened its first Feel House pop-up “dedicated to self-expression,” in the Williamsburg neighborhood in Brooklyn that draws a fashionable crowd.
LA Gear Partners With Fred Segal To Support Relaunch
LA Gear will relaunch on November 18, 2022, with Creative Director Dave Osokow and retail partner Fred Segal, ahead of its 40th anniversary.
Pou Sheng Issues Profit Warning
Pou Sheng, the retail subsidiary of Yue Yuen, forecasted a decline in year-over-year net profits due to weak consumer sentiment in China associated with COVID-19 lockdowns and lower store traffic in cities where it operates.
Nike Opens Store In Harlem
Nike opened a Nike Unite store in Harlem. Located on 125th Street, this is Nike’s northernmost Manhattan location.
Ross Stores To Open 40 Locations
Ross Stores, Inc. recently opened twenty-eight Ross Dress for Less and twelve dd’s Discount stores across 21 states in September and October. The new stores complete the company’s growth plans for fiscal 2022 with the addition of 99 new stores.
Newell Brands’ Outdoor Segment’s Q3 Sales Slump 26 Percent
Newell Brands reported sales in its Outdoor & Recreation segment fell 26.1 percent in the third quarter ended September 30. The decrease reflects a core sales decline of 18.4 percent, as well as the impact of exits from certain low-margin categories and unfavorable foreign exchange.
Belk Names President And Chief Merchandising Officer
Belk hired MaryAnne Morin as president and chief merchandising officer. Morin will lead the company’s merchandising, planning and private brands teams.
Deckers Brands’ Q2 Again Driven By Hoka’s Outperformance
Deckers Brands reported earnings and sales both exceeded analyst targets in the second quarter ended September 30 and maintained its outlook for sales and EPS for the fiscal year despite margin pressures. Sales of Hoka surged 58.3 percent year over year in the quarter while sales of Ugg gained 6.3 percent.
Columbia Sportswear Q3 EPS Tops Wall Street’s Targets
Columbia Sportswear reported earnings surpassed Wall Street’s consensus target in the third quarter ending September 30 as sales grew 22 percent on a constant-currency basis. The company slightly lowered its operating earnings outlook for the year due to margin pressures but maintained its sales guidance.
