SGB Update Footwear
Genesco Inc. Q4 Comps Slip 4 Percent as Journeys Continues to Shrink
The overall 2 percent sales increase for Q4 was reportedly driven by a 6 percent increase at Schuh, a 9 percent gain at Johnston & Murphy and a 24 percent increase at Genesco Brands, partially offset by a decrease of 2 percent at Journeys.
Primus-Silva Appoints New CEO
Primus-Silva appointed Jonas Sjögren as its new CEO, effective April 8. He takes the helm from Richard Jägrud, who leaves the company on April 30 to pursue new career challenges.
Overstock Parent Acquires Zulily Assets; Plans Site Re-launch Before Summer
Zulily’s new website will be fully functional by the end of the second quarter and contribute to Beyond’s 24-month revenue goal without adding incremental fixed expenses. Overstock is scheduled to relaunch later this month.
Ariat International Opens New Las Vegas Flagship Brand Shop
The retail space spans nearly 10,000 square feet, offering Ariat’s full assortment of boots, clothing, jeans, shoes, and accessories on two floors.
The Buckle, Inc. Reports February 2024 Net Sales
Comparable store net sales for stores open at least one year for the 4-week period ended March 2, 2024, decreased 11.5 percent from comparable store net sales for the 4-week period ended March 4, 2023.
Duluth Holdings Gets Q4 Lift from DD Growth in Women’s and Mobile Sales
Mobile net sales grew 20.0 percent in Q4 and now represents the largest sales channel. Women’s apparel net sales increased 12.4 percent YoY, with double-digit growth across both Duluth and AKHG brands. Men’s apparel net sales were flat.
Locally Closes Series A Round of Financing to Fuel Growth
Locally said it will use the funding from Corbel Capital Partners and Valency Capital to grow its team, expand into adjacent industries and raise its visibility with consumers, brands and retailers.
Primark Continues U.S. Expansion with New DC and Four Store Leases
The international clothing retailer continues its global expansion by opening a new distribution center in Jacksonville, FL, and will open new stores in Virginia, Maryland, Texas, and its first store in Tennessee.
Burlington Stores Posts Solid Q4 Results With Some Extra Week Help
Looking ahead, total sales are expected to increase in the range of 9 percent to 11 percent; this assumes comparable store sales will increase in the range of 0 percent to 2 percent, on top of the 4 percent increase for the fiscal 2024 year.
Hari Mari Footwear Raises $10M in Equity Investment Round
The brand is taking the next step in its expansion strategy, recently closing on a $10 million equity raise to support growth plans in the casual footwear and lifestyle space.
Allbirds Inks Distributor Deals for Japan and Australasia
Effective June 1, 2024, Goldwin, Inc. will be the exclusive Allbirds distributor in Japan, and on July 1, 2024, Compendium Group will be the company’s first appointed Australasian distributor.
Nordstrom, Inc. Gets Lift from Rack Stores and 53rd Week to Post Q4 Sales Increase
In the fourth quarter, the active category was called out for one of the strongest growth drivers by category for both the fourth quarter and full year. Women’s apparel was also called out as a key driver for the fourth quarter.
Foot Locker, Inc. Exceeds Internal Q4 Estimates but Delays Long-Term Targets
The retailer posted accelerated sales trends relative to the third quarter, EPS that exceeded the guidance range and success across multiple KPIs, but is also delaying by two years its previous guidance for its EBIT margin target while also axing its dividend.
Ross Stores Comps Up 7 Percent in Q4 and EPS Sees Solid Increase
The discount retailer reported sales for the fiscal fourth quarter ended February 3 grew to $6.0 billion. Ross posted EPS of $1.82 per share for the 14-week fourth quarter ended February 3, up from $1.31 per share for the 13-week Q4 period ended January 28, 2023. The extra week was responsible for 20 cents a share.
Bogs Brand Again Posts Sharp Q4 Sales Decline at Weyco Group
The Bogs brand posted the largest decline for the period, with sales down 32 percent for the quarter, reportedly due to retailers reducing orders amid the current saturation of product in the outdoor footwear market.
