SGB Update Footwear
Kohl’s Corporation Shares Fall as Retailer Cuts Guidance on Poor Fiscal Q1 Showing
Shares were down over 20 percent in pre-market trading on Thursday after the mid-tier retailer missed on estimates for the first quarter and then cut guidance for the year.
Duluth Holdings, Inc. Posts Wider Q1 Loss on Revenue Miss for Quarter
The company posted a net loss of $7.9 million in the first quarter, compared to a net loss of $3.9 million in the year-ago Q1 period. Loss per share doubled from a loss of 12 cents a share in the year-ago quarter to 24 cents per share in the 2024 Q1 period.
Foot Locker, Inc. North America Q1 Comps Down 2.5 Percent on DD Declines at Champs
Champs continues to be the big drag for Foot Locker as the company repositions the banner. Champs comped down in the mid-teens in Q1 as total sales fell nearly 19 percents year-over-year. Foot Locker banner comps were up 0.8 percent and Kids Foot Locker comps grew 6.4 percent.
Caleres Sees Famous Footwear Comps Down Again in First Quarter
Famous Footwear segment net sales increased 0.1 percent to $349.6 million. Comparable sales were down 2.3 percent for the quarter, on top of an 8.5 percent decline in Q1 last year. Brand Portfolio segment net sales declined 2.6 percent to $317.2 million.
New Pro Volleyball League Posts Solid Year One Metrics; Sees Top Salaries Rising for 2025
Pro Volleyball Federation, the newest women’s professional indoor volleyball league in the U.S., will continue lead in player compensation, as top salaries for 2025 were set at $175,000, with additional benefits of approximately $10,000 per player.
Sierra Celebrates 100th Store Opening
The 20,000-square-foot storem part of TJX Companies, Inc., will open on May 31 in Deertrace Kohler shopping center in Sheboygan, WI.
Shoes For Crews Receives Court Approval for Sale
Company to be owned by first lien secured lenders. Sale Transaction strengthens financial foundation through elimination of over $300 million in debt and access to new capital financing to invest in growth.
Dick’s Sporting Goods Ups Full Year Outlook on Solid Q1 Results
The retailer saw mid-single-digit comparable stores sales growth in the first quarter ended May 4, but hurt by a much higher effective tax rate for the quarter that cut into any bottom-line benefits.
Birkenstock Holding Inks New Term Loan and Revolving Credit Facilities Agreement
In connection with this refinancing, the company said it is reducing the outstanding amount of term loans by approximately $50 million. This step is said to reflect Birkenstock’s strong liquidity position and its commitment to balance sheet deleveraging.
Ross Stores First Quarter Sales In Line with Guidance Despite Macroeconomic Headwinds
Earnings results for the period were better-than-expected primarily due to lower expenses relative to our plan.”
Deckers Brands Sees Slower Growth Trend in Year Ahead
The parent of the Hoka, Ugg, Teva, Sanuk brands expects fiscal 2025 sales to grow 10 percent, compared to the 21 percent growth achieved in fiscal 2024 and a 19 percent compounded annual growth rate over the past four years.
On Elects New Independent Member to Board
On elected Laura Miele as an additional independent member of its Board of Directors. Miele will also serve as a member of the Audit Committee.
Puma SE Appoints Supervisory Board Members
Harsh Saini and Roland Krüger were appointed independent members of the company’s Supervisory Board for a three-year period.
Shoe Carnival Posts Q1 Comp Sales Decline; Net Sales Up on Acquisitions and E-Commerce
Sales from the February 2024 acquisition of Rogan Shoes, Inc. were in line with expectations and continued growth in Shoe Station and e-commerce, combined with strengthening trends in the Shoe Carnival brand.
VF Corp. Appoints Paul Vogel as Chief Financial Officer
As previously announced, he will succeed Matt Puckett, who will be stepping down, effective July 8, 2024.
