SGB Update Footwear
Skechers Q1 Tops Guidance On DTC Momentum
Skechers U.S.A., Inc. reported earnings rose 32.3 percent in the first quarter ended March 31 on a 10.0 percent sales gain. Strong double-digit DTC growth globally due to improved inventory availability offset wholesale declines in the Americas region. Guidance was raised as quarterly earnings and sales easily surpassed expectations.
Columbia Sportswear Narrows 2023 Profit Outlook As Q1 Profits Contract Over 30 Percent
Columbia Sportswear Company reported that net sales increased 8 percent (10 percent constant-currency) to $820.6 million in the 2023 first quarter as net income decreased 31 percent. Inventories increased 34 percent at quarter-end on elevated carryover inventory, earlier receipt of current season inventory.
The Rossignol Group Posts 28 Percent Growth For 2022/23 Financial Year
The Rossignol Group, parent of the Rossignol, Dynastar, Lange, Look, and Kerma brands, reported that revenue increased 28 percent to €401 million for the 12-month financial year period ended March 31, 2023, compared to €313 million in revenue for the prior year.
REI To Open Store On Tribal Land In Arizona
REI Co-op will open a store in Prescott, AZ in Fall 2023, leased from the Yavapai-Prescott Indian Tribe and located on tribal land at Frontier Village Center.
Skechers Acquires Its Scandinavian Distributor
Skechers has signed an agreement to acquire its existing Scandinavian distributor, Sports Connection Holding ApS.
Authentic Inks UK And Europe Deals To Manage Ted Baker Brand Business
Authentic Brands Group (Authentic) reportedly signed a long-term strategic partnership with two new operating partners for Ted Baker in the UK and Europe—PDS Group (PDS) and AARC.
Academy Names New CEO And New President As Hicks Moves To Executive Chairman Role
Academy Sports and Outdoors, Inc. announced that, as a result of a planned succession process, the following changes to its executive leadership team will be effective on June 1, 2023.
Velous Footwear Inks Sales Rep Deals Across Four Regions
Velous Footwear reportedly signed with four sales organizations in the U.S., Australia, New Zealand, Europe, and Southeast Asia to expand its sales channels and increase worldwide product availability.
Tractor Supply Sees Q1 Profit Decline As Comps Fall Short Of Plan On Weather Issues
Tractor Supply Company reported that net sales for the first quarter increased 9.1 percent to $3.30 billion from $3.02 billion in the first quarter of 2022. Comparable store sales increased 2.1 percent, as compared to an increase of 5.2 percent in Q1 last year first.
Crocs Raises Outlook On Strong First Quarter Results
Crocs Inc. reported earnings doubled in the first quarter ended March 31 on a 34 percent revenue gain. Sales gains were boosted by last year’s acquisition of Heydude and a 19.0 gain for the Crocs brand. Full-year guidance was raised due to accelerated momentum with the Crocs brand.
U.S. Consumer Confidence Dips To Lowest Level Since July
According to the Conference Board, U.S. consumer confidence dropped in April to the lowest since July on more pessimistic views about the economic outlook, even as current conditions improved.
Dick’s SG Closing Store In Knightdale, NC
Dick’s Sporting Goods is closing its store in Knightdale, NC, by May 20. The retailer opened the store in 2008.
Scarpa Hires Sales Agency For Mid-Atlantic Region
Scarpa hired the Alpin Sports Group to direct sales for the brand in the Mid-Atlantic.
Gazelle Sports Opens Seventh Store
Gazelle Sports, based in Grand Rapids, MI, opened its seventh store in Grandville, MI. The 2,300-square-foot store is located at 4499 Ivanrest Avenue, SW.
Puma’s Q1 Sales Dip In Americas Region On Inventory Overhang
Puma SE reported Q1 sales in the Americas region declined 0.8 percent on a currency-neutral basis as wholesale revenues declined, particularly in off-price channels, due to elevated inventories in the marketplace. Overall earnings were down slightly as margin and cost pressures offset a 14 percent gain in sales.
