Stage Stores Logs Q1 Loss On Charges
Stage Stores Inc. reported a loss after impairment charges in the first quarter while same-store sales dipped 3.1 percent. The department store operator reaffirmed guidance for fiscal year 2019.
Stein Mart To Install Amazon Pick-Up Lockers
Stein Mart plans to house Amazon lockers in 200 of its 283 stores. Amazon Hub Lockers are secure, self-service kiosks that provide customers of the online retailer an alternative delivery option to pick up and return their Amazon packages.
Skechers Not Worried About Tariffs
Speaking at the 20th Annual B. Riley FBR Institutional Investor Conference, officials at Skechers USA Inc. said they expect no impact from the latest round of tariffs on Chinese goods and feel comfortable that it will be able to make adjustments if another round arrives.
Shoe Carnival Q1 Earnings Climb 7 Percent
Shoe Carnival Inc. reported earnings rose 7.1 percent in the first quarter to $13.9 million, or 91 cents a share. Comps in the quarter dipped 0.2 percent due to the later tax refund season as well as inclement weather impacting February, but the combined months of March and April increased 3.6 percent.
Avenatti Indicted In Nike Extortion Case
Controversial lawyer Michael Avenatti was charged with trying to extort Nike out of more than $20 million dollars by threatening to go public with claims the company was facilitating payments to the families of high school basketball stars. Avenatti separately was charged with stealing about $300,000 from his former porn star client Stormy Daniels.
OIA Skip Yowell Future Leadership Academy Announces Capstone Projects
Outdoor Industry Association (OIA) announced capstone projects for Class 4 of the Skip Yowell Future Leadership Academy (FLA), an immersive leadership experience for the next generation of outdoor industry game-changers. This year’s class includes 35 driven emerging leaders from REI, Yakima, Pacific Crest Trail Association, Backcountry.com, The North Face, Outdoor Research, Burley and others.
Foot Locker Surprises High School Seniors With Scholarships
For the eighth consecutive year, the Foot Locker Foundation has awarded $20,000 scholarships to 20 outstanding student-athletes.
Urban Outfitters’ Q1 Pulled Down By Margin Pressures
Urban Outfitters Inc. reported earnings in the first quarter declined 21,0 percent to $32.6 million, or 31 cents a share as gross margins were hurt by underperforming women’s apparel at the Anthropologie and Urban Outfitters brands. Earnings surpassed Wall Street’s target of 26 cents.
Modell’s To Test Smaller Stores
Modell’s Sporting Goods plan is to open 10 locations spanning 5,000 and 8,000 square feet across New York City, according to The Real Deal.
VF Corp. Disappoints On Outlook
VF Corp. reported earnings and sales in the fourth quarter came in ahead of Wall Street’s consensus estimates but provided 2020 guidance that was lower than targets. By segment, revenue for Outdoor is expected to increase approximately 4 percent to 5 percent, or 5 percent to 6 percent on a constant dollar basis, and revenue for Active is expected to increase approximately 6 percent to 7 percent, or 9 percent to 10 percent on a constant dollar basis.
Kappa Signs Aston Villa
Kappa, the Italian sportswear brand, in a partnership with Fanatics signed a three-year deal to become the kit supplier to English second-tier soccer club Aston Villa.
Nordstrom Trims Full-Year Forecast On Weak First-Quarter Start
Nordstrom Inc. reported first-quarter earnings fell well short of Wall Street’s targets as execution issues associated with the launch of its enhanced loyalty program was partly to blame for a sales shortfall. It now expects 2019 net sales between a 2 decline to flat growth, compared with its previous projection of 1 percent to 2 percent rise.
Rocky Brands Declares Increase In Quarterly Dividend
Rocky Brands Inc. announced that its board of directors has approved a two cents increase, or a 16.7 percent increase, of its quarterly dividend to 14 cents per share of outstanding common stock,
PVH Corp. Names Stefan Larsson To Newly Created Role Of President
PVH Corp. announced leadership updates, including Chairman and CEO Manny Chirico signing a new five-year employment agreement and hiring Stefan Larsson as PVH President, a newly created role.
Snipes Takes On U.S. Market
Earlier this year, German-based streetwear retailer Snipes acquired KicksUSA to mark its entry into U.S. retailing. Sven Voth, founder and managing director of Snipes, talks to SGB Executive about the reason for the acquisition and Snipes’ plans for the U.S. market.
