SGB Footwear

U.S. Footwear Industry Unites in Opposition to China Tariffs

May 30, 2019 SGB Update

Five industry trade groups – American Apparel & Footwear Association (AAFA), Footwear Distributors and Retailers of America (FDRA), Outdoor Industry Association (OIA), Rubber and Plastic Footwear Manufacturers Association (RPFMA), and Sports and Fitness Industry Association (SFIA) – sent a letter to President Donald J. Trump on May 30 opposing the proposed use of punitive tariffs on footwear equipment, footwear inputs, and finished footwear imported to the U.S. from China

Tilly’s Warns On Sluggish Spring Sales

May 30, 2019 SGB Executive

Tilly’s Inc. reported first-quarter earnings and sales both reached the high-end of guidance. But the action sports chain warned of a down second quarter as spring/summer selling has seen a slow start due to cool and wet weather patterns across much of the country, particularly in California.

Skechers To Sponsor European Solheim Cup Team

May 30, 2019 SGB Update

Skechers has been named the official footwear sponsor of the European Solheim Cup Team for the 2019 tournament in Gleneagles, Scotland. The Skechers GO GOLF Pro 2 Solheim Cup colorway will be exclusively worn by a selection of Team Europe women.

Designer Brands’ Q1 Profits Climb Double-Digits

May 30, 2019 SGB Update

Designer Brands Inc, formerly DSW Inc., raised its full-year guidance after reporting adjusted earnings in the first quarter rose 10.3 percent increase on a 23.4 percent revenue gain. Comparable sales increased 3.0 percent following a 2.2 percent increase in the first quarter of fiscal 2018.

Sportsman’s Warehouse’s Q1 Falls Short Of Guidance

May 30, 2019 SGB Update

Sportsman’s Warehouse Holdings Inc. slightly reduced its outlook for the year after results in the first quarter ended May 4 missed plan. Jon Barker, CEO, stated, “Our first quarter results were within our expectations on the top line and slightly below on the bottom line as we were up against difficult comparisons in the prior year period for our firearm and ammunition categories.”

Dick’s Lifts Outlook After Q1 Beat

May 29, 2019 SGB Update

Dick’s Sporting Goods raised its full-year profit outlook after reporting first-quarter earnings that topped analysts’ estimates. Same-store sales were flat in the quarter  compared with a drop of 2.5 percent during the same period a year ago. CEO Ed Stack said same-store sales at Dick’s “turned positive in March and remained positive in April, as we started to see the benefits of our key strategies and investments.”

Trade War Impact Remains Uncertain

May 28, 2019 SGB Executive

On quarterly conference calls last week, executives at both retailers and vendors said the ultimate impact of the tariff war isn’t clearly known, especially if the fourth tranche on $300 billion of imports that hit apparel and footwear items becomes effective. But most reassured analysts they’re taking or have taken steps to mitigate most of the expected damage. Comments from VF Corp, Deckers Brands, Kohl’s, JC Penney, Target, Hibbett Sports, TJX Cos. and Ross Stores.

Moody’s Affirms Tom’s Rating, Lowers Outlook

May 24, 2019 SGB Update

Moody’s Investors Service affirmed Toms Shoes, LLC’s Caa3 Corporate Family Rating (“CFR”) and Caa3 senior secured first lien term loan rating. Concurrently, Moody’s downgraded the company’s Probability of Default Rating (“PDR”) to Caa3-PD from Caa2-PD. The outlook was changed to stable from negative.

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