SGB Update Footwear
Genesco Lowers Guidance on Eroding Sales
Genesco lowered both its third and fourth quarter guidance on eroding sales in November. Same-store sales in the current month through Nov. 16 were down 9%, marked by 9% declines at Journeys Group, a 6% decline at Hat World, a decrease of 15% at Undergrou
Dick’s Sporting Goods Comps Down in Third Quarter on Tough Golf, Fitness Biz
Dick’s Sporting Goods made the best of a tough quarter as a focus on leaner inventories helped to expand merchandise margins. However, a de-leveraging of occupancy costs following comp store sales declines led to depressed gross margins and a decrease in
NexCen Expects Improved Q3
NexCen Brands, the parent of The Athlete's Foot, expects to report revenues from continuing operations of its franchise business of approximately $12 million in the third quarter of 2008 compared with $6.5 million in the third quarter of 2007, an inc
Foot Locker Inc. Sees Stronger Europe, but Weaker U.S. in Third Quarter
While Foot Locker Inc.’s Europe business showed signs of strengthening in the third quarter, it wasn't nearly enough to offset a “precipitous” slow down in the U.S. during September and October. As a result, Foot Locker slightly missed its guidance t
Pacific Sunwear Third Quarter Sales on Tougher West Coast Sales
Pacific Sunwear of California, Inc. had total sales for the third quarter ended Nov. 1, 2008, of $323.6 million, a 5% decrease from total sales of $341.9 million for the third quarter ended Nov. 3, 2007. Total company same-store sales decreased 7% during
2009 Tour de Georgia Canceled
Organizers canceled the Tour de Georgia cycling race for 2009 after failing to secure sponsorship dollars in the face of a looming state budget deficit and belt tightening by many corpoprate sponsors. The board of directors for the race, which has become
Intrawest Confirms Lay Offs
Ski resort operator Intrawest is laying off an undisclosed number of employees at its resorts amid reports of a big drop in advance bookings at destination ski resorts across North America. The news follows Intrawest's eleventh-hour refinancing of a
Nike Increases Quarterly Dividend by 9%
Nike's board of directors has declared a regular quarterly cash dividend of 25 cents per share on the company’s outstanding Class A and Class B common Stock. On an annual basis, this is an indicated rate of $1.00. The 25 cents per share quarterly div
Modell’s Hires Sporting Goods VP and GMM
Modell’s Sporting Goods hired Roger Kitch as the new VP and GMM for its Sporting Goods Division. Kitch joins the company bringing over 15 years of retail experience with him, most recently having been Senior Merchant for…
Big City Mountaineers Wins $90,000 Grant
The Stewardship Council, a land conservation and youth investment program, awarded Big City Mountaineers in Alameda County, CA. $90,000 to introduce underserved families to nearby parks and outdoor recreation…
Skins Closes Private Placement
Skins Inc., the developer of interchangeable footwear, has accepted subscription agreements for private placement units totaling $811,968 of which $475,000 cash proceeds have been received, $83,218 is derived from offsets against Board fees and consulting
Holiday Gift Card Sales Expected to Decline
Shoppers’ price-conscious mentality is taking a toll on the season’s most-requested present: gift cards. The National Retail Federation's sixth annual Gift Card Survey found that gift card sales will fall nearly 6% this holiday season to $24.9 billio
Hibbett Raise Earnings Outlook on 8.1% Sales Increase
Hibbett Sports Inc. raised its earnings outlook for the fiscal year ended Jan. 31, 2009 saying its IT investments were helping it better manage inventory and boost comp store sales despite economic headwinds. The company said net sales rose 8.1% on a 0.4%
Zumiez Q3 Comps Drop 5.8%, Net Sales Rise 7.9%
Zumiez Inc. saw total net sales for the third quarter ended Nov. 1, 2008 increased by 7.9% to $112.2 million from $104.0 million reported in the third quarter ended Nov. 3, 2007. Comparable store sales decreased 5.8% for the third quarter of fiscal 2008 c
Foot Locker Reports Q3 Sales Slip 3.5%, Cuts FY EPS Outlook
Foot Locker, Inc. reported net income of $24 million, or 16 cents per share, for the third quarter ended Nov. 1, 2008, compared with net loss of $33 million, or 22 cents per share, last year. But the retailer lowered its guidance for fiscal 2008 below ana
