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March 09, 2023 Genesco Eyes Cost-Cutting, Store Closures after Tough Q4
Citing a rapidly changing consumer environment, Genesco is making numerous changes to its business as it braces for a challenging H1 ahead of an anticipated better H2. Zumiez Posts Sharply Lower Q4 Results
Net income was slashed 71% to $11,432,000 in the fourth quarter from $38,204,000 on sales that were down 19% to $280,110,000 from $346,677,000. Tilly’s Barely Breaks Even in Q4, Sees Bad Weather Sinking Q1
Net income plunged 97% to just $309,000 in the final quarter from $12,058,000 last year, on a 12% revenue decline to $180,350,000 from $204,489,000, just beating guidance issued in early Jan. Solo Brands Guides for Flattening 2023 Sales
Net income was up 57% in Q4 to $19,508,000 from $12,413,000 on a net sales gain of 12% to $197,243,000 over $176,468,000, boosted by a 196% jump in wholesale to $36.5 million, nearly repeating 197% growth in the prior year as the retail partner network expands. Allbirds’ Loss Widens; Company Sets Transformation Plan
BIRD completed its first full year as a public company by reporting a net loss of $24,866,000 in Q4 up from a net loss of $10,444,000 prior, on revenues that declined by 13% to $84,178,000 from $97,218,000 with U.S. sales down 15% to $65.6 million and international off by 8% to $18,592,000. American Outdoor Brands’ Red Ink Continues in Dec Quarter
Reduced demand for shooting sports accessories drove another down quarter from AOUT, resulting in a net loss of $2,863,000 in fiscal Q3 ended Jan. 31 against a profit of $3,766,000 last year, on 27% lower revenues at $50,894,000 down from $70,105,000. Smith & Wesson Sales, Profits Fall Double Digits
Net income came in at $11,079,000 in the fiscal third quarter ended Jan. 31, down from $30,542,000 last year, as revenues declined 27% to $129,036,000 from $177,738,000, but increased sequentially from FQ2 and remain above pre-pandemic levels. Athleta Q4 Sales Slow as Chief Exits
Sales at Gap, Inc.’s women’s sportswear banner sales inched down 1% in Q4 ended Jan. 28 to $436 million from $439 million in ’21, and same store sales were down 5% compared to last year. Retail Imports Forecast to Climb Through Mid-Summer
Retail import volumes at U.S. container ports are expected to slowly climb sequentially, but will fall below 2022 levels through mid-summer as retailers remain cautious and continue to manage inventories lower, according to the NRF and Hackett Associates. Peloton and iFit Dealt Setback by ITC Ruling
The U.S. International Trade Commission has issued a limited exclusion order prohibiting PTON from importing its bikes and treadmills, and iFit from importing certain bikes and ellipticals. Hanesbrands Completes Refinancing
Hanesbrands has closed on its previously announced new, $900 million senior secured term B facility. CPSC Recalls: Outdoor Cookers, Bicycle Helmets
Monoprice is recalling about 3,780 Pure Outdoor isobutane-propane cooking systems because the insulation coating on the stove can ignite during use.
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