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.
Fanatics Hires Global HR Executive And Organizational Leader
Fanatics hired Orlando Ashford for the newly created chief people officer (CPO) role at Fanatics Holdings working closely with the company’s three businesses—commerce, collectibles and betting and gaming while managing global human resources.
Kanye West Is Escorted From Skechers Offices
Skechers USA said late Wednesday that Kanye West, also known as Ye, had come to its corporate offices in Los Angeles “unannounced and uninvited” and was subsequently escorted from the building where he had been trying to film.
Boot Barn’s Q2 Sales Advance 12 Percent
Boot Barn Holdings, Inc. reported earnings showed a modest decline in the second fiscal quarter ended September 24 despite a 12.4 percent revenue gain.
VF Corp. Trims EPS Outlook On FX And Promotional Headwinds
VF Corp. reported results in its fiscal second quarter ending October 1 that came in line with Wall Street targets but lowered its EPS guidance for the full year due to foreign currency fluctuations as well as heightened inventory levels and promotional activity in the marketplace.
Foot Locker And Gap Pull Yeezy Product From Stores
Foot Locker and Gap announced they were pulling Yeezy products from their stores following Adidas’ move on Tuesday to end its partnership with Ye, the artist formerly known as Kanye West, following a series of antisemitic remarks he made recently across multiple forums.
Garmin Raises 2022 EPS Guidance On Improved Margin Outlook
Garmin Ltd. reported sales declined 4 percent in the third quarter ending September 24, dragged down by an 18 percent slide in the fitness segment. Second-quarter earnings topped Wall Street estimates and Garmin lifted its full-year EPS outlook on an improving margin outlook.
Puma Sees 17 Percent Currency-Neutral Growth In Q3
Puma reiterated its outlook for the year despite market volatility while reporting another quarterly record of sales and EBIT performance in the third quarter ending September 30. Sales in the third quarter grew 16.9 percent on a currency-adjusted basis, led by growth of 18.8 percent in the Americas region and 18.5 percent in EMEA.
Rossignol Group Hires Director Of Softgood Sales, U.S.
The Rossignol Group hired Meredith Riley as director of sales for its softgoods business unit in the U.S. market.
Skechers’s Q3 Falls Short Of EPS Guidance
Skechers USA, Inc. reported sales in the third quarter ended September 30 ran up 20.5 percent but earnings missed guidance amid margin pressures and foreign exchange currency headwinds. Guidance for the fourth quarter was also provided that was below Wall Street targets.
Adidas Ends Partnership With Kanye West
Adidas said on Tuesday that it is ending its partnership with Ye, formerly known as Kanye West, after the rapper made antisemitic remarks. Adidas said the move would have a short-term negative impact of up to ($246 million (€250 million) on net income in 2022 due to high seasonality in the fourth quarter.
Burlington Stores’ Debt Ratings Affirmed
S&P Global Ratings affirmed its debt ratings on Burlington Stores, Inc. despite the off-price retailer facing declining consumer discretionary spending among its core customer base while its value proposition, relative to traditional retailers, has narrowed amid industry-wide clearance activities.
NPD Group Report: U.S. Footwear Q3 Sales Flat
According to the NPD Group, in third quarter 2022, U.S. footwear sales revenue was flat at $10.8 billion versus Q3 2021. It further noted that gains in fashion footwear offset declines in performance footwear.
