SGB Update Apparel
Anne Worcester Named President Of Universal Tennis
Universal Tennis, the world’s premier tennis platform, announced that Anne Worcester, former WTA CEO & Connecticut Open Tournament Director, has joined the company as president.
Ross Stores’ Q1 Comps Gain 2 Percent
Ross Stores, Inc. reported earnings per share for the 13 weeks ended May 4, 2019 of $1.15, up from $1.11 for the same period last year.
Foot Locker’s Q1 Falls Short Of Targets
Foot Locker Inc. reported earnings on an adjusted basis eased slightly in the first quarter as increased operating costs to fund strategic initiatives offset improving gross margins and a 4.6 percent comp gain. Earnings came in below Wall Street’s consensus target.
Nike Signs Likely No. 2 NBA Draft Pick
Nike signed Ja Morant, the former Murray State guard who’s expected to be taken second in the upcoming NBA Draft.
Hibbett Sports Q1 Profits Flies Past Estimates
Hibbett Sports Inc. sharply raised its outlook for the year after reporting first-quarter earnings that blew past Wall Street’s consensus target. Comparable store sales increased 5.1 percent.
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.
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.
