SGB Update Apparel
U.S. Footwear Industry Unites in Opposition to China Tariffs
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
Moody’s Completes Periodic Review of Bass Pro’s Debt Ratings
Moody’s Investors Service said it completed a periodic review of the ratings of Bass Pro Group, L.L.C and essentially affirmed the company’s Ba3 corporate debt rating.
Sportsman’s Warehouse’s Q1 Falls Short Of Guidance
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.”
Tapestry Appoints Former VF Corp Exec As COO
Tapestry Inc., the parent of Coach, Kate Spade and Stuart Weitzman, appointed Thomas A. Glaser, as chief operations officer. He most recently held the position of vice president, VF Corporation and president, supply chain.
Canada Goose’s Q4 Revenues Climb 25 Percent
Canada Goose reported flat earnings on an adjusted basis in the fourth quarter ended March 31 while revenues rose 25.1 percent.
VF Corp Appoints EVP, Global Supply Chain
VF Corporation announced the appointment of Cameron Bailey to the position of executive vice president, global supply chain.
Dick’s Lifts Outlook After Q1 Beat
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.”
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.
