May 31, 2018
The lulunatics saw net income leap 140% to $75,153,000 from $31,246,000 for the quarter ended Apr. 29 as revenues jumped 25% to $649,706,000 from $520,307,000 with a comp store gain overall of 20% that included an 8% boost in brick-and-mortar sales and an impressive 62% improvement in e-commerce sales from the re-launched site.
For the second time in three years, Big 5 is in the cross hairs of an activist investor group which claims the CA-based retailer is significantly undervalued, and has not implemented a number of changes that would improve results.
Caleres’ bottom line increased 16% to $17,212,000 from $14,902,000 on slightly higher sales of $632,142,000 against $631,509,000 in a first quarter that started slow but improved once warmer Spring weather arrived.
The two shoe giants settled both their contentious two-and-a-half-year battle over Skechers’ alleged knockoffs and IP infringement, and last month’s suit brought by SKX that accuses the Big a of false advertising and unfair competition by paying off basketball players in the Hoopgate scandal.
Net income declined 20% to $10,247,000 from $12,771,000 in the first quarter ended May 5 on 5% higher revenues of $255,234,000 vs. $242,090,000, boosted by golf and Nike swim as well as an 8% increase in direct-to-consumer.
The luxury outerwear maker is taking a two-pronged approach to establishing a footprint in China, partnering with ImagineX Group to open brick-and-mortar stores and with Tmall for e-commerce sales.