November 21, 2023 Dick’s Makes Good Progress in Third Quarter
After DKS’ disappointing second quarter that included a significant headwind from retail shrink, margins rebounded in Q3, but rising SG&A weighed on the bottom line, which declined 12% to $201,106,000 from $228,456,000. Hibbett Raises Profit Guidance after Flat Q3
The small market retailer’s top and bottom lines inched lower in the third quarter, with profits of $25,497,000 vs. $25,573,000, and revenues of $431,923,000 compared to $433,164,000, including a -2.7% blended comp. Famous Footwear Down on Weak Boot Sales
Net income was up 20% to $46,914,000 over $39,246,000 on a 5% revenue decline to $761,904,000 from $798,258,000, pulled down by a 7% drop at Famous Footwear to $449,773,000 from $481,951,000. Kohl’s Plans Pivot towards Dress Styles
Nike, Under Armour and Eddie Bauer got call outs for positive results but third quarter apparel revenues were hit by unfavorable weather in key regions that impacted sales of fall assortments. Lycra Appoints Polartec and Timby Vet as CEO
The fiber and textile technology company tapped Gary Smith as CEO, effective Nov. 27, succeeding Dean Williams, who has served as acting chief since August. Deckers Files Several Suits over Trade Dress
DECK filed three separate lawsuits in central CA federal court accusing Aleader, Zoetop and Costco of infringing on its trade dress with various boots and sandals. Etcetera: ABG, Reef, Beachbody, Wolverine, Inglasco, Norrona, Free Fly
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