SGB Update Footwear
NPD Report: Prime Day Promotions Boosted Retail Revenue 14 Percent But Unit Sales Still Fell
The week of Amazon’s Prime Day and other big retailer promotions showed that consumers continue to spend but are purchasing less, according to The NPD Group. U.S. sales revenue from discretionary general merchandise for the week ending July 16, 2022, was 14 percent higher than last year’s non-promotional week, and unit sales were 1 percent lower.
Boot Barn’s Comps Improve 10 Percent In Fiscal First Quarter
Boot Barn Holdings, Inc. reported flat earnings in the first fiscal quarter ended June 25 as sales jumped 19 percent and same-store sales gained 10 percent. EPS exceeded guidance, but the footwear retailer reduced its outlook for the year due to “recent macroeconomic uncertainty.”
Columbia Sportswear Reduces FY Guidance
Columbia Sportswear Company reported second-quarter earnings that topped Wall Street’s estimate but reduced its sale and EPS guidance for the year due to growing economic uncertainty. Chairman, President and Chief Executive Officer Tim Boyle said, “As 2022 has progressed, it is increasingly clear that the operating environment has become more challenging.”
Rack Room Shoes Strengthens Merchandising Team
Rack Room Shoes has strengthened its merchant team, promoting Melanie Ortlieb to senior director of planning and allocation and three senior buyers from the merchandising team.
Puma Lifts Full-Year Revenue Outlook After Solid Q2
Puma reported stronger than expected second-quarter earnings on “very strong growth” across its product range and raised its revenue outlook for the full-year 2022. Earnings guidance was maintained as Puma warned of uncertainties that could dilute profitability.
Skechers’ Q2 Results Top Guidance
Skechers USA reported profits in the second quarter were down due to lower gross margins as sales grew 12 percent. Results came in easily above Skechers’ guidance, led by the Americas. Skechers maintained its guidance for the year.
Shimano’s Sales Expand 15 Percent In First Half
Shimano, Inc. reported its net income increased 22.4 percent in the first half ended June 30 as sales grew 14.7 percent.
The Athlete’s Foot Signs First NBA Ambassador
First-round draft pick AJ Griffin signed a brand ambassador deal with The Athlete’s Foot (TAF) following his selection by The Atlanta Hawks.
Saucony Appoints Chief Marketing Officer
Saucony, a division of Wolverine Worldwide Inc., announced the appointment of Kathryn Pratt to the position of chief marketing officer, effective immediately.
Academy Sports Opens Store In Panama City
Academy Sports + Outdoors announced the opening of its Panama City
Olympia Sports To Close Remaining 35 Stores
Olympia Sports, the Maine-based sporting goods chain that once had more than 200 stores on the East Coast, is shuttering its remaining 35 stores.
Caleres CEO To Retire Next Year
Diane Sullivan, Caleres’ long-time CEO, will retire effective January 15, 2023. The company announced the news on Monday. Jay Schmidt, president of Caleres, will succeed Sullivan as chief executive officer, with Sullivan moving to the role of executive chairman.
Filson Appoints President
Filson, the Seattle-based outdoor and apparel manufacturer, announced the appointment of Neil Morgan as president of the company.
Luxury Retail’s Momentum Continues Into 2022
Despite record inflation and a plunging stock market, the rebound in luxury spending seen in 2021 has continued into 2022, according to recent reports from Bain and Bank of America (BOA).
A.K.A. Brands Sees 6 Percent Growth In Second Quarter
A.K.A. Brands Holding Corp. said it expects to show a loss in the second quarter ended June 30 as sales increased 6 percent. Current brands in the A.K.A. Brands portfolio include Princess Polly, Culture Kings, mnml, Petal & Pup, and Rebdolls.
