Genesco Lowers FY Outlook On November Softening
Genesco, Inc.’s third-quarter results were slightly above Wall Street’s consensus estimates but the parent of Journeys reduced its guidance for the year due to a “sluggish start” in November and the impact of the inflationary environment.
Outdoor Research Hires Vice President, E-commerce
Outdoor Research hired Sarah Seifert as VP of E-commerce, effective immediately. Seifert brings more than a decade of leadership in e-commerce and digital marketing with an extensive background in outdoor recreation markets.
Ibex Extends Sales Representation Across Pacific Northwest And Central U.S.
Ibex reported that it hired PlayNorthwest to represent the brand in the Pacific Northwest, while Split Rock Sales will cover the Central U.S.
NRF Reports GDP Growth Has Slowed But Consumer Spending Remains Strong
The National Retail Federation’s (NRF) Chief Economist, Jack Kleinhenz, reported that the GDP is not likely to grow as much in the final months of 2022 as it did in the third quarter, but consumer spending should remain strong even though the rapid pace continues to slow.
Tilly’s Q3 Results Top Expectations
Tilly’s Inc. reported sales declined 13.7 percent in the third quarter ended October 29 with earnings falling further, but overall results exceeded company guidance.
Zumiez Tops Guidance In Third Quarter
Zumiez Inc. reported earnings and sales were down year-over-year in the third quarter ended October 29, but came in better than company guidance
American Outdoor Brands’ Sales Drop In Second Quarter
American Outdoor Brands, Inc. reported earnings on an adjusted basis fell 51.8 percent in its fiscal second quarter ended October 31 as sales decreased 23.1 percent.
The Buckle Delivers Flat Comps In November
The Buckle, Inc. announced that comparable store net sales, for stores open at least one year, for the 4-week period ended November 26, 2022, decreased 0.3 percent from comparable store net sales for the 4-week period ended November 27, 2021.
Sturm Ruger Declares Special Dividend
Sturm Ruger & Company, Inc. announced that its Board of Directors declared a special dividend of $5.00 per share for stockholders of record as of December 15, 2022, payable on January 5, 2023.
DSW Parent Sees Profits Plummet In Third Quarter
Designer Brands Inc., the parent of DSW, reported earnings on an adjusted basis were down 31 percent in the third quarter ended October 29 as lower gross margins offset a 1.4 percent gain in sales. Results were slightly below Wall Street estimates. The company maintained its sales outlook but lowered its earnings guidance for the year.
Duluth Reduces FY Guidance On Inflationary Pressures
Duluth Holdings, Inc, the parent of Duluth Trading, reported a steeper loss than expected in the third quarter ended October 30 and reduced its guidance for the year as markdowns were used to clear slow-selling merchandise in the latest quarter. Sales in the period were up 1.3 percent.
G-III Apparel Lowers Outlook On Q3 Shortfall
G-III Apparel Group Ltd. reported sales grew 6.2 percent but earnings missed expectations due to logistical challenges.
Nautilus Completes Refinancing Of Existing Term Loan
Nautilus Inc. announced the amendment of its existing credit facility by refinancing the previous term loan with a new $30 million term loan, thereby increasing the company’s total credit facility to $130 million.
Fanatics-Owned NFT Venture Undergoes Layoffs
Candy Digital, the sports and entertainment NFT startup backed by Fanatics, reported it laid off more than one-third of its workforce of approximately 100 employees, according to Sportico.
Tern Makes Executive Hires
Taiwanese electric bike company Tern hired Matthew Davis as chief operating officer, Joe Hei as head of strategy and product management, and Venus Ang as director of finance.
