SGB Update Footwear
Caleres Lowers Outlook on Softening Sales at Famous Footwear
Caleres reduced its sales outlook and narrowed its annual EPS guidance to the lower end of its previous range due to weaker-than-expected sales at its Famous Footwear chain. Caleres reported earnings in the third quarter came in slightly ahead of guidance while sales underperformed.
Kohl’s Sees Q3 Comps Down 5.5 Percent; Narrows Full-Year Guidance
Kohl’s reported fiscal third quarter net sales decreased 5.2 percent year-over-year, to $3.8 billion, with comparable sales down 5.5 percent. In other news, Dave Alves, who joined the retailer as president and COO in late February, has left the company.
Dick’s SG Lifts Guidance as Q3 Results Fly Past Expectations
Dick’s Sporting Goods raised its outlook for the year after reporting sales and earnings easily topped analyst targets with the help of healthy back-to-school selling. Same-store sales in the quarter improved 1.7 percent with gains in transaction and average ticket prices.
Hibbett Sports Shares Jump in Early Trading as Retailer Raises Guidance
Fiscal third quarter net sales decreased 0.3 percent to $431.9 million, compared with $433.2 million for the corresponding period in 2022. Comparable sales decreased 2.7 percent year-over-year. HIBB shares were up nearly 17 percent in pre-market trading
Kohl’s Recently Hired President & COO Exits Company
Kohl’s, Inc. reported in a regulatory filing that Dave Alves, who joined the retailer as president and COO in late February, has left the company.
New Balance Breaks Ground on Londonderry Factory
New Balance broke ground on its sixth U.S. athletic footwear manufacturing plant in Londonderry, NH.
Report: Consumers Expected to Spend $130 Billion During Holiday Weekend
According to the latest International Council of Shopping Centers (ICSC) Thanksgiving Weekend Intentions survey, consumers will spend $130 billion during the upcoming holiday shopping weekend, a 4 percent increase from last year’s spending expectations.
Evo Acquires Bergland Hotel in Japan
Evo will open its second branded hotel—Evo Hotel Hakuba. It follows the opening of Evo Hotel Salt Lake in 2022 in Salt Lake City, UT.
Outdoor Leaders Comment on Latest Outdoor Rec Economy Figures
The U.S. Bureau of Economic Analysis (BEA) reported the latest statistics, which show that outdoor recreation generates $1.1 trillion in economic output (2.2 percent of GDP), nearly 5 million jobs, and comprises 3.2 percent of U.S. employees, according to an early analysis by the Outdoor Recreation Roundtable.
REI Responds to Accusations of Labor Law Violations
REI workers affiliated with the unions reportedly filed 80 unfair labor practice charges against the outdoor specialty retailer last week. REI vowed to fight the allegations.
Record Traffic Forecasted for Thanksgiving Holiday Weekend
An estimated 182 million U.S. consumers plan to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to the annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics. This figure is 15.7 million more consumers than last year and is the highest estimate since the NRF started tracking the data in 2017.
Dr. Martens Appoints Apple Retail Director as Chief Brand Officer
Non-executive director Ije Nwokorie will join Dr. Martens as chief brand officer, effective February 1, 2024. In conjunction with assuming the CBO role, Nwokorie will cease to be a member of the Board and will step down as a member of the Audit and Risk, Nomination and Disclosure committees.
TYR Sport Opens Second Store in Costa Mesa
TYR Sport announced the opening of the swim brand’s second store in South Coast Plaza in Costa Mesa, CA. TYR Sport’S first-ever brick-and-mortar store opened last month at Roosevelt Field Mall in Garden City, NY.
The Buckle Sees Fiscal Q3 Profits Decline as Comps Decline 9.2 Percent
Net income for the third quarter of fiscal 2023 was $51.8 million, or $1.04 per share on a diluted basis, compared with net income of $61.4 million, or $1.24 per share on a diluted basis, for the third quarter of fiscal 2022.
Fleet Feet Expands Kentucky Footprint with Louisville Store
Fleet Feet reported it plans to open a second store in Louisville, KY, in November in Fern Creek’s Cedar Creek Crossing Shopping Center.
