Nordstrom, Inc. Gets Lift from Rack Stores and 53rd Week to Post Q4 Sales Increase
In the fourth quarter, the active category was called out for one of the strongest growth drivers by category for both the fourth quarter and full year. Women’s apparel was also called out as a key driver for the fourth quarter.
Foot Locker, Inc. Exceeds Internal Q4 Estimates but Delays Long-Term Targets
The retailer posted accelerated sales trends relative to the third quarter, EPS that exceeded the guidance range and success across multiple KPIs, but is also delaying by two years its previous guidance for its EBIT margin target while also axing its dividend.
Ross Stores Comps Up 7 Percent in Q4 and EPS Sees Solid Increase
The discount retailer reported sales for the fiscal fourth quarter ended February 3 grew to $6.0 billion. Ross posted EPS of $1.82 per share for the 14-week fourth quarter ended February 3, up from $1.31 per share for the 13-week Q4 period ended January 28, 2023. The extra week was responsible for 20 cents a share.
Bogs Brand Again Posts Sharp Q4 Sales Decline at Weyco Group
The Bogs brand posted the largest decline for the period, with sales down 32 percent for the quarter, reportedly due to retailers reducing orders amid the current saturation of product in the outdoor footwear market.
Ghost Golf Appoints VP of Sales
Jim Jamison will spearhead Ghost Golf’s efforts to establish a presence in the Green Grass and Big Box Retail markets, which are focal points for its growth strategy in 2024.
NRF Economist Says Inflation and Interest Rates Remain Key to Economy
The NRF’s monthly review indicated that January’s 3.1 percent year-over-year (YoY) inflation, as measured by the Consumer Price Index, improved from December’s 3.4 percent but “still a considerable distance” from the Fed’s target of 2 percent.
Target Corp. Beats on Q4 Earnings Estimates but Sales Fall Short
Sales fell short of expectations in Q4 on a tough holiday selling period, but earnings beat estimates as the retailer posted GAAP and Adjusted EPS of $2.98, compared with $1.89 in Q4 2022. Analysts were reportedly looking for $2.42 a share.
EXEC: Amer Sports Sees Q4 Growth Slow as Wholesale Declines; Posts Adjusted Net Loss
The parent of Wilson Sports, Salomon and Arc’teryx said they saw an expected deceleration from third quarter and year-to-date comparative trends due to the supply chain related sales shift that occurred from the third quarter into the fourth quarter in 2022.
SMC and SSL Merge to Form Winter Sports Retailers, Inc.
Snowsports Merchandising Corporation (SMC) and Sports Specialists Ltd (SSL) merged to form Winter Sports Retailer, Inc. (WSR), creating the largest network of U.S. specialty retailers.
EXEC: Deckers Brands Moving to S&P 500 Index
The parent of the Hoka, Teva and Ugg brands is moving to the S&P 500 Stock Index, effective prior to the open of trading on March 18. DECK shares were previously included in the S&P Midcap 400.
Foot Locker Footwear Creation Stu/deo Opens in Detroit
PLC Detroit announced the opening of the Foot Locker Footwear Creation Stu/deo in a Bedrock owned building at 200 Walker Street in Detroit, MI. It is the only design-focused Historically Black College or University (HBCU).
EXEC: Macy’s Suitor Raises Acquisition Price to $6.6 Billion
The rejected suitors for Macy’s are not going away anytime soon after moving this weekend to raise their offer for the struggling department store chain.
EXEC: BOA Posts 25 Percent Sales Decline in 2023 as Retail Inventory Takes Toll
Fourth quarter sales at BOA were down slightly year-over-year while Adjusted EBITDA for the BOA business increased to $14.0 million in Q4, compared to $13.8 million in the 2022 fourth quarter.
EXEC: Birkenstock Execs Lay Out Growth Details from Fiscal Q1
Only a single-digit percentage of revenue in the Americas is attributed to new points of distribution, with a heightened focus on specialty retailers, including sports-specific, running retailers where the benefits of the Birkenstock footbed is seen as a recovery product.
EXEC: 5.11 Tactical was the Lone 2023 Active Lifestyle Gainer at CODI
The 5.11 Tactical brand was the only active lifestyle brand in the segment to post an increase in sales for the year, due in large part to its direct-to-consumer component of the business as all other brands continued to deal with the ongoing retail de-stocking process prevalent across the U.S. retail landscape.
