Lululemon Raises Full Year Guidance After Strong Q3 and Expectations for Solid Q4
For 2024, the company now expects net revenue to be in the range of $10.45 billion and $10.49 billion, representing growth of 9 percent, or 7 percent, excluding the 53rd week of 2024.
EXEC: Sports Direct Parent Fraser Group Cuts FY Guidance on Consumer Headwinds
The UK-based parent of the Sports Direct, Flannels, Jack Wills, House of Fraser, and Gieves and Hawkes retail brands saw shares fall over 10 percent on the LSE after the global sports and lifestyle retail giant issued a profit warning for the full-year.
Merrell Appoints Chief Product Officer
Most recently, Noreen Naroo-Pucci was the CPO at Mizzen+Main, a young menswear brand. Her career includes working as the SVP of design, menswear, North America for Calvin Klein, and eleven years at Under Armour as senior creative director and VP of Global Design Engine.
Lands’ End, Inc. Posts Q3 Adjusted Net Profit Despite Sales Declines Across Segments
Third quarter net revenue decreased to $318.6 million for the period ended November 1. Excluding the impact of transitioning kids and footwear products to licensing arrangements, net revenue increased in the low-single digits year-over-year.
Academy Sports and Outdoors Board Approves New Share Repurchase Program
This new share repurchase program totaling $700 million replaces the preceding share repurchase program, of which $423 million remained as of the end of the third quarter, and is effective as of December 4, 2024, for a period of three years.
Amer Sports Prices Upsized Public Share Offering at $23.00 Per Share
The parent of the Arc’teryx, Salomon and Wilson Sports, brands, among others, has priced its upsized public offering of 40.8 million ordinary shares at a price of $23.00 per share. The closing of the offering is expected to occur on December 6, 2024.
The Buckle Sees 2.5 Percent Comp Store Sales Growth in November
Net sales for the 4-week fiscal month increased 10.8 percent to $117.5 million from net sales of $106.0 million for the prior-year 4-week fiscal month ended November 25, 2023.
Duluth Trading Cites Weaker Web Conversion Rates, Slower Store Traffic, in Q3 Miss
The company said it saw growth in its average order value and a double-digit increase in digital traffic, but it was not enough to offset the year-over-year contraction in transactions. Top line trends improved leading into Black Friday week and continued through cyber Monday.
Famous Footwear Parent Cuts Full Year Guidance as Weak YTD Trends Flow into Q4
The parent company of Famous Footwear and the Naturalizer, Vionic, Allen Edmonds, Blowfish Malibu, and Sam Edelman brands is the latest retailer to reduce its full-year guidance as sales and earnings came in under expectations.
Skechers Celebrates Giving Tuesday Reaching $12 Million in Donations for Shelter Animals
Skechers’ contributions have helped save and support over 2.2 million shelter animals across the United States, Canada, the U.K., and Japan through sales of the Bobs brand.
EXEC: Foot Locker Sees Nike Softness in Q3 While Adidas, NB, Asics, On, and Hoka Shine
Management pointed out that Foot Locker returns to growth with Nike on an allocation basis during the holiday season and also have a favorable launch calendar.
Salesforce: Global Online Sales Reach All-Time High of $315B During Cyber Week
The company said data analyzed for the Cyber Week period revealed a record $314.9 billion in global online sales, with U.S. consumers contributing $76 billion of the total number.
ThredUp Completes Divestiture of European Business
The online reseller of apparel, shoes and accessories, announced today that it entered into a binding agreement to divest its European business, Remix, in a management buyout led by Florin Filote, the general manager of Remix.
Foot Locker Lowers FY Outlook on Q3 Miss, Promo Pressures, and Weak Consumer
Excluding the effect of foreign exchange rate fluctuations, total sales for Q3 decreased 2.2 percent year-over-year. Comparable sales increased 2.4 percent year-over-year, including North America Foot Locker and Kids Foot Locker comparable sales growth of 6.4 percent.
StockX Breaks Pre-Cyber Weekend Trades Record; Sees Continued Momentum Into Holidays
Asics is one of the fastest-growing sneaker brands on StockX and will set a new sales record in 2024. Top picks throughout the weekend included the Asics Gel-1130 Black Pure Silver and the Asics Gel-Kayano 14 Cream Black Metallic Plum.
