Shoe Carnival Blames Tax Refund Delays For Q1 Shortfall
Shoe Carnival Inc. said delays in the mailing out of tax refund checks was largely responsible for a 3.9 percent drop in same-store sales in its first quarter. Consequently, the shoe chain reduced its full-year guidance for sales and earnings.
Hanesbrands Laying Off 220 Amid New Growth Initiative
Champion sales in the U.S. were up double-digits “as we continued to benefit from our refreshed product offering and increased space within the mass channel,” said Rick Moss, CFO.
Big 5 Crushes Q1 Guidance
Said Steven Miller, chairman, CEO and president, on a conference call with analysts. “Our strong results reflect our team’s continued effort to expand our market share gain following the competitive store closures that occurred in our sector last year and capitalized on the favorable weather conditions in our market during the first quarter.”
Skechers Signs David Ortiz
Skechers expanded its roster of sports stars representing the brand by announcing that ten-time All-Star Dominican-American baseball slugger David Ortiz — known by fans as “Big Papi” — will be lacing up in Skechers Men’s footwear for a multi-platform global marketing campaign set to launch this Fall.
Brooks To Enter China And Brazil
Brooks Running Company is expanding its global footprint in July 2017 with entry into China and Brazil, two of the largest running markets in the world.
L.L.Bean To Open Third Retail Store In Connecticut
L.L.Bean plans to open a store in New Haven, CT in the summer of 2018.
Dick’s Stores VP Joins Five Below
George Hill, most recently SVP retail operations at Dicks Sporting Goods, has joined Five Below Inc. as EVP of retail operations.
Raleigh Owner Accell Breaks Off Takeover Talks With Bidder Pon Holdings
Accell Group announced it will currently not continue the exploratory discussions with Pon Holdings offer to acquire the company.
Coach’s Sales Drop 4 Percent In Q1
Victor Luis, chief executive officer of Coach Inc., said, “Our solid performance this quarter was very much in line with our expectations and our strategic initiatives.”
Shoe Carnival Lowers Outlook On Weak Q1
Cliff Sifford, Shoe Carnival’s president and chief executive officer, commented, “Our sales results improved as we progressed through the first quarter, but it was not enough to offset the soft start we experienced at the beginning of the year with comparable store sales down mid-teens in February.”
Bogs Sales Drop Double-Digits In Q1
Bogs’ first-quarter net sales were down 21 percent, reflecting the continued softness in the outdoor and better footwear channels.
Big 5’s Q1 Profits Easily Top Guidance
Same store sales increased 7.9 percent for the first quarter of fiscal 2017, reflecting continued market share gains resulting from the closure of certain major competitors last year along with more favorable weather conditions than the prior year period.
HanesBrands Sees Q1 Earnings Improve, Launches Project Booster Initiative
HanesBrands reported earnings per share in the first quarter rose 12 percent in the first quarter excluding acquisition-related and integration charges while announcing that it launched a multiyear initiative to increase investment for growth, reduce costs, and drive cash flow.
Dick’s To Open Three New Stores In May
With the grand opening of these new stores in San Diego, CA, Lake City, FL and Bellingham, WA, Dick’s will have 694 locations in the country.
Teva Partners Again With Jhené Aiko
Teva announced its second collaboration with Grammy nominated artist Jhené Aiko.
