Latest news with #LaurenHobart
Yahoo
30-05-2025
- Business
- Yahoo
Foot Locker Opened 9 New Stores and Closed 56 Doors In Q1
With Foot Locker Inc. announcing preliminary first-quarter results on May 15, the official tally on earnings Thursday was no surprise. The sneaker retailer said at the time that it inked a deal to be acquired by Dick's Sporting Goods for $2.4 billion, or $24 a share. The deal is expected to close later this year, and some on Wall Street concluded the combined entity will be good for its vendor base. Dick's reported first quarter results on Wednesday, and its CEO Lauren Hobart said Nike is among the vendors that that 'continues to perform really, really well for us.' More from WWD Ulta Beauty Nudges Up Full-year Guidance After Stronger Than Expected Q1 Performance Tariff Impact Evident in Caleres' Q1 as Sales, Profits Slide Dick's Sporting Goods Delivers Record Q1 Sales, Maintains Full-year Guidance 'We are continuing to execute our Lace Up Plan strategies as we look forward to the successful completion of our transaction with DICK'S Sporting Goods,' Foot Locker's CEO Mary Dillon said in a statement. She noted that softer traffic trends globally impacted the quarterly results. 'As we have executed these and other initiatives to further advance our strategy, our teams have also remained nimble to navigate the uncertain macroeconomic environment, including managing our promotional levels, inventories, and expenses and remaining disciplined with our cash flows,' she said. What's new in the earnings report is that the company opened 9 new stores and closed 56 locations, including stores in South Korea, Denmark, Norway, Sweden, Greece and Romania. It also remodeled or relocated 11 doors and refreshed 69 locates to it updated store design. At the end of the quarter, Foot Locker operated 2,363 stores across 20 countries in North America, Europe, Asia, Australia and New Zealand. It also has 236 licensed stores operating in the Middle East, Europe and Asia. The retailer said that the licensed operations include the Greece and Romania business that was sold to its license partner in April 2025. For the first quarter ended May 3, the net loss was $363 million, or $3.81 cents a diluted share, versus net income of $8 million, or 9 cents, in the year-ago period. On an adjusted basis, the loss was 7 cents a share. Total revenue fell 4.5 percent to $1.79 billion from $1.88 billion. Total revenue included a 4.6 percent decline in sales to $1.79 billion from $1.87 billion. The company said that comparable sales fell by 2.6 percent. By business segment, comparable sales in the North American region slipped by 0.5 percent, and was down 8.5 percent at its international businesses, led by softness in Foot Locker Europe. Also impacting results was a decline in gross margin by 40 basis points versus year-ago levels, with merchandise margins down by 10 basis points. Because of the pending acquisition, the retailer's management did not hold a conference call to discuss earnings results. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Sign in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Dick's Sporting Goods Delivers Record Q1 Sales, Maintains Full-year Guidance
Fresh off the news that it is set to acquire Foot Locker in a $2.4 billion deal, Dick's Sporting Goods said that it delivered record first-quarter sales. The Pittsburgh-based athletic retailer saw net sales increase 5.2 percent to $3.18 billion, up from $3.02 billion the same time last year. Net income in the quarter was $264 million, or $3.24 per diluted share, compared with $275 million, or $3.30 per diluted share, a year earlier. Excluding one-time items related to its acquisition of Foot Locker, Dick's posted earnings per share of $3.37. More from WWD 'Ensuring a Safe and Secure Shopping Environment Is Key for Retailers,' NRF Says Dick's CEO Lauren Hobart Says Nike Is a 'Very Important' Strategic Partner Following Q1 Results Shares of Hoka, Ugg Parent Company Deckers Brands Sink on Trump Tariff Uncertainty Dick's Sporting Goods president and chief executive officer Lauren Hobart said in a statement that the company's first-quarter performance 'demonstrates the momentum and strength' of its long-term strategies and the consistency of its execution. 'Our Q1 comps increased 4.5 percent, driven by growth in both average ticket and in transactions and this was our fifth straight quarter with comps over 4.0 percent,' Hobart said. 'Our first-quarter gross margin expanded, and we delivered non-GAAP EPS ahead of the prior year.' The CEO added that the company is reaffirming its 2025 outlook, which reflects its 'strong start to the year and confidence' in its strategies and operational strength while still acknowledging the dynamic macroeconomic environment. Looking ahead, the company expects net sales for the full fiscal year 2025 to be between $13.6 billion and $13.9 billion, with earnings per diluted share in the range of $13.80 to $14.40. For now, Dick's outlook doesn't include acquisition-related costs or results from the Foot Locker merger. This comes after the May 15 announcement that Dick's said it would acquire Foot Locker Inc. for about $2.4 billion. The completion of the acquisition is subject to Foot Locker shareholder approval and other customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2025. Dick's Sporting Goods said it intends to finance the acquisition through a combination of cash-on-hand, revolving borrowings and other new debt, to the degree Foot Locker shareholders do not elect to receive their consideration entirely in shares of the company's common stock. The deal is set to dramatically alter the retail landscape — giving Dick's major international presence and huge leverage with big brands like Nike and Adidas. Executive chairman Ed Stack added in a statement on Wednesday that the company is in a 'strong position' as it looks ahead. 'Earlier this month, we announced our plans to acquire Foot Locker, a move that represents a truly exciting and transformational moment for Dick's,' Stack said. 'For many years we've admired Foot Locker's brand and the powerful community they've built in sneaker culture. By bringing our two great brands together, we see the opportunity to create a global leader in the sports retail industry by serving a broader set of athletes.' Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Sign in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Retail Roundup: Several Preliminary Earnings Announcements Alongside Macro Uncertainty
Retailers, like much of the broader market, have reported better-than-expected Q1 earnings. Yes, there have been troublemakers like Target (TGT) and America Eagle (NYSE:AEO), but Walmart (WMT), TJX Companies (TJX), and Home Depot (HD) didn't point to an immediate severe consumer-spending slowdown. What's more, the April Retail Sales report, while slightly below estimates, showed there remains a gap between what folks say and what they do.[1] There's even M&A activity within the retail space that offers hope for a strong second half of trade policy trends improve. Warning! GuruFocus has detected 4 Warning Signs with BBWI. As it stands, now is a critical time for consumer companies as they load up ahead of the back-to-school season and put in orders for the winter holidays. Q2 could also be retail's first negative year-on-year earnings change since the throes of the pandemic, due in part to potential tariff impairments. To be clear, there is not much clarity. The balance of the year is clouded with uncertainty on the trade front, with tax policy, and whether the labor market will hold up as US real GDP growth likely eases. Our team caught those vibes when scanning earnings datanot the top- and bottom-line numbers themselves, but via a slew of preliminary earnings announcements among well-known retail firms. For background, earnings pre-announcements may offer clues on future company trends. A news release ahead of a scheduled quarterly announcement might feature updated guidance, while a soft forecast and a lowered expected sales or profit range could be seen as a red flag. Preliminary earnings make the full report, often issued weeks later, all the more pivotal. This week, along with NVIDIA's (NASDAQ:NVDA) Q1 release Wednesday night, investors will hear from a handful of small companies within the Consumer Discretionary sector that have preannounced, mainly calling out softer trends or more subdued forecasts in light of myriad macro and firm-specific factors. It's not all dour news, though. Source: Wall Street Horizon Dick's Sporting Goods (NYSE:DKS) checked into the Q1 reporting game with solid numbers to begin 2025. On May 15, the $14 billion market cap omnichannel sporting goods retailer issued preliminary Q1 results that featured impressive comp-store sales growth of 4.5% on earnings per diluted share of $3.24. Lauren Hobart, President and Chief Executive Officer, said, "We are very pleased with our strong start to the year and our demonstrated sustained growth.[2] Shares backpedaled, however, as investors punted on the news that DKS would acquire Foot Locker (FL) for $2.4 billion. FL soared more than 80% in response, but DKS dropped 15%. Dick's full Q1 report hits the tape Wednesday morning with a conference call immediately after. All eyes are on NVIDIA Wednesday night, but Thursday's earnings docket includes retail companies that previously signaled numbers to the street. Let's profile three of them. Bath & Body Works () On May 19, the Ohio-based retailer put out a press release confirming Daniel Heaf will take over as CEO as Gina Bowell steps down.[3] Sometimes, when a new CEO assumes the helm, a so-called kitchen-sink quarterly report might come out with struggling companies. Of course, we don't know if such a tape bomb is imminent. BBWI is already down 36% over the last year, but Piper Sandler, Morgan Stanley, and Citigroup have all published upbeat research on the company. Investors haven't sniffed out a BBWI turnaround yet. We'll see what this week's full Q1 report includes, but the pre-announcement noted Q1 sales at the high end of the guidance range, while assuming a 10% tariff on goods imported from China. Kohl's () On May 1, Kohl's announced it was terminating its CEO Ashley Buchanan with cause. The embattled Broadline Retail company, now valued at less than $1 billion in equity market cap, named Michael Bender as interim CEO. An outside investigation had revealed that the disgraced CEO violated company policies by directing the Company to engage in vendor transactions that involved undisclosed conflicts of interest.[4] Shares actually rose the day the news broke, but KSS has been a kiss of death for the bulls, with the stock down from above $80 in 2018 to below $8 today. Recall in March that Kohl's planned 27 additional store closures as part of a turnaround planwe may hear updates about that on Thursday. Within the preliminary, the management team cited a 4% to 4.3% expected comp-store sales drop year-on-year, with diluted EPS in the range of ($0.24) to ($0.20). American Eagle Outfitters () You won't find exceptionalism at American Eagle today. The stock is off by more than 50% over the past 12 months, and while names like The Gap (GAP) and Urban Outfitters (URBN) have soared, AEO has been a stylish the short sellers. On May 13, the Pittsburgh-based Apparel Retail industry company issued preliminary earnings that included a large inventory write-down to better align with demand trends. Q1 revenue is expected to be approximately $1.1 billion, which would be about -5% from a year ago. Management expects a GAAP operating loss near -$85 million.[5] Shares dropped 6% in the session that followed, but AEO ended off the lows. Now under $11, it's near a multi-year low ahead of the full Q1 report Thursday night. American Eagle (along with Ross Stores (ROST) and Deckers Outdoor (DECK)) also withdrew its FY 2025 guidance due to macro uncertainty. Beyond earnings news, we'll get key inflation data this Friday. According to Wall Street Horizon data, the April Personal Consumption Expenditure (PCE) Price Index crosses the wires before the bell on the 30th, along with last month's Personal Income and Outlays data. Next week's macro calendar is active, with key Purchasing Manufacturing Index (PMI) figures from the Institute for Supply Management (ISM), and the May nonfarm payrolls survey Friday morning. Also keep your eye out for volatility in the crypto marketVice President Vance is set to speak at Bitcoin 2025 in Las Vegas on Wednesday just as the token notches new all-time highs. Tariffs, uncertainty, and unknowns about the consumer best describe Q1 retail reports and preliminary announcements this month. Still, the hard numbers have generally exceeded analysts' expectations, and major indexes have recovered sharply from the April lows. This week's slate of Q1 reports should offer further insights into the health of the consumer, and important macro updates will help paint the true picture as we head into the first half's close. 1 Advance Monthly Sales for Retail and Food Services, United States Census, May 15, 2025, DICK'S Sporting Goods Reports Preliminary Results for First Quarter of 2025; Reports Comparable Sales Growth of 4.5%, Dicks, May 15, 2025, Bath & Body Works Appoints Daniel Heaf as Chief Executive Officer, Bath & Body Works, Inc., May 19 2025, Kohl's Announces CEO Transition Process, Kohls, May 1, 2025, AEO Inc. Reports Preliminary First Quarter Results, American Eagle Outfitters, Inc., May 13, 2025, Copyright 2025 Wall Street Horizon, Inc. All rights reserved. Do not copy, distribute, sell or modify this document without Wall Street Horizon's prior written consent. This information is provided for information purposes only. Neither TMX Group Limited nor any of its affiliated companies guarantees the completeness of the information contained in this publication, and we are not responsible for any errors or omissions in or your use of, or reliance on, the information. This publication is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The information provided is not an invitation to purchase securities, including any listed on Toronto Stock Exchange and/or TSX Venture Exchange. TMX Group and its affiliated companies do not endorse or recommend any securities referenced in this publication. This publication shall not constitute an offer to sell or the solicitation of an offer to buy, nor may there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. TMX, the TMX design, TMX Group, Toronto Stock Exchange, TSX, and TSX Venture Exchange are the trademarks of TSX Inc. and are used under license. Wall Street Horizon is the trademark of Wall Street Horizon, Inc. All other trademarks used in this publication are the property of their respective owners. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
‘Ensuring a Safe and Secure Shopping Environment Is Key for Retailers,' NRF Says
A shooting at the Brass Mill Center in Waterbury, Conn. that injured five individuals is the latest incident at a shopping mall involving teenagers. A 19-year-old Waterbury, Conn. resident, Tajuan Washington, turned himself into the Waterbury Police headquarters late Tuesday evening. Police officials said the preliminary investigation indicates this was not a random act of violence. They said evidence suggests that the shooting stemmed from a dispute between individuals known to each other 'which escalated into gunfire.' More from WWD Dick's CEO Lauren Hobart Says Nike Is A 'Very Important' Strategic Partner Following Q1 Results Dick's Sporting Goods Delivers Record Q1 Sales, Maintains Full-year Guidance Sarah Staudinger's Fashion, Beauty and Lifestyle Essentials for Summer Four females and one male between the ages of 20 and 26, whose names were not released, were injured in the gunfire. Three of the victims were treated and released from the hospital. Two others are still receiving medical care and are in stable condition. Mall safety has been in the news for other reasons. On Saturday, the Woodbridge Center Mall in Woodbridge, N.J., closed early on Saturday, after hundreds of teenagers turned up there after a TikTok meet-up at a nearby carnival reached capacity. Media requests to Woodbridge Center and Spinoso Real Estate Group, which leases and manages the 1.7 million-square-foot complex, were not returned Wednesday. In another incident this month, six minors, who were among the 300 teenagers who turned up on May 19 at the Menlo Park Mall in Edison, N.J., were arrested for disorderly conduct, and another individual was charged with aggravated assault on an officer. Asked about whether such incidents are increasingly becoming a concern, the National Retail Federation's vice president of asset protection and retail operations David Johnston said Wednesday, 'Acts of violence or disorderly behaviors have no place in a retail environment. Retailers continuously train their employees regarding how to respond to various safety-related situations and work with law enforcement and private security partners to ensure a quick and appropriate response. The number-one priority for retailers is ensuring a safe and secure shopping environment for both customers and workers.' Washington has been charged with risk of injury to a child, criminal use of a weapon, five counts of assault in the first degree, illegal discharge of a firearm, reckless endangerment in the first degree, carrying a pistol without a permit and illegal possessions of weapons in a motor vehicle. Founded in 1997, Brass Mill Center, which has approximately 95 businesses listed on its site, was closed to the public Wednesday. Aéropostale, Dick's Sporting Goods, Snipes, Finish Line, Burlington and JCPenney are among the retailers. The shopping center was searched and cleared by the Waterbury Police Department in conjunction with the Connecticut State Police. It poses no threat to the public, according to officials. A representative at Brass Mill Center declined to comment, when asked if security was being increased due to Tuesday's incident. A media request to Summit Properties USA was not immediately returned on Wednesday. In late March, a few hundred people descended on the Mall at Bay Plaza in the Bronx with young-looking shoppers carousing and running through the complex, based on a TikTok video. Representatives at the Mall at Bay Plaza and its owner and developer, Prestige Properties and Development Co., did not acknowledge media requests Wednesday. Best of WWD Janet Jackson's Best Fashion Through the Years [PHOTOS] Aishwarya Rai's Cannes Film Festival Fashion Moments Through the Years: Every Look [PHOTOS] Queen Camilla's Royal Style Throughout King Charles III's Reign [PHOTOS]
Yahoo
28-05-2025
- Business
- Yahoo
Retail Roundup: Several Preliminary Earnings Announcements Alongside Macro Uncertainty
Retailers, like much of the broader market, have reported better-than-expected Q1 earnings. Yes, there have been troublemakers like Target (TGT) and America Eagle (NYSE:AEO), but Walmart (WMT), TJX Companies (TJX), and Home Depot (HD) didn't point to an immediate severe consumer-spending slowdown. What's more, the April Retail Sales report, while slightly below estimates, showed there remains a gap between what folks say and what they do.[1] There's even M&A activity within the retail space that offers hope for a strong second half of trade policy trends improve. Warning! GuruFocus has detected 4 Warning Signs with BBWI. As it stands, now is a critical time for consumer companies as they load up ahead of the back-to-school season and put in orders for the winter holidays. Q2 could also be retail's first negative year-on-year earnings change since the throes of the pandemic, due in part to potential tariff impairments. To be clear, there is not much clarity. The balance of the year is clouded with uncertainty on the trade front, with tax policy, and whether the labor market will hold up as US real GDP growth likely eases. Our team caught those vibes when scanning earnings datanot the top- and bottom-line numbers themselves, but via a slew of preliminary earnings announcements among well-known retail firms. For background, earnings pre-announcements may offer clues on future company trends. A news release ahead of a scheduled quarterly announcement might feature updated guidance, while a soft forecast and a lowered expected sales or profit range could be seen as a red flag. Preliminary earnings make the full report, often issued weeks later, all the more pivotal. This week, along with NVIDIA's (NASDAQ:NVDA) Q1 release Wednesday night, investors will hear from a handful of small companies within the Consumer Discretionary sector that have preannounced, mainly calling out softer trends or more subdued forecasts in light of myriad macro and firm-specific factors. It's not all dour news, though. Source: Wall Street Horizon Dick's Sporting Goods (NYSE:DKS) checked into the Q1 reporting game with solid numbers to begin 2025. On May 15, the $14 billion market cap omnichannel sporting goods retailer issued preliminary Q1 results that featured impressive comp-store sales growth of 4.5% on earnings per diluted share of $3.24. Lauren Hobart, President and Chief Executive Officer, said, "We are very pleased with our strong start to the year and our demonstrated sustained growth.[2] Shares backpedaled, however, as investors punted on the news that DKS would acquire Foot Locker (FL) for $2.4 billion. FL soared more than 80% in response, but DKS dropped 15%. Dick's full Q1 report hits the tape Wednesday morning with a conference call immediately after. All eyes are on NVIDIA Wednesday night, but Thursday's earnings docket includes retail companies that previously signaled numbers to the street. Let's profile three of them. Bath & Body Works () On May 19, the Ohio-based retailer put out a press release confirming Daniel Heaf will take over as CEO as Gina Bowell steps down.[3] Sometimes, when a new CEO assumes the helm, a so-called kitchen-sink quarterly report might come out with struggling companies. Of course, we don't know if such a tape bomb is imminent. BBWI is already down 36% over the last year, but Piper Sandler, Morgan Stanley, and Citigroup have all published upbeat research on the company. Investors haven't sniffed out a BBWI turnaround yet. We'll see what this week's full Q1 report includes, but the pre-announcement noted Q1 sales at the high end of the guidance range, while assuming a 10% tariff on goods imported from China. Kohl's () On May 1, Kohl's announced it was terminating its CEO Ashley Buchanan with cause. The embattled Broadline Retail company, now valued at less than $1 billion in equity market cap, named Michael Bender as interim CEO. An outside investigation had revealed that the disgraced CEO violated company policies by directing the Company to engage in vendor transactions that involved undisclosed conflicts of interest.[4] Shares actually rose the day the news broke, but KSS has been a kiss of death for the bulls, with the stock down from above $80 in 2018 to below $8 today. Recall in March that Kohl's planned 27 additional store closures as part of a turnaround planwe may hear updates about that on Thursday. Within the preliminary, the management team cited a 4% to 4.3% expected comp-store sales drop year-on-year, with diluted EPS in the range of ($0.24) to ($0.20). American Eagle Outfitters () You won't find exceptionalism at American Eagle today. The stock is off by more than 50% over the past 12 months, and while names like The Gap (GAP) and Urban Outfitters (URBN) have soared, AEO has been a stylish the short sellers. On May 13, the Pittsburgh-based Apparel Retail industry company issued preliminary earnings that included a large inventory write-down to better align with demand trends. Q1 revenue is expected to be approximately $1.1 billion, which would be about -5% from a year ago. Management expects a GAAP operating loss near -$85 million.[5] Shares dropped 6% in the session that followed, but AEO ended off the lows. Now under $11, it's near a multi-year low ahead of the full Q1 report Thursday night. American Eagle (along with Ross Stores (ROST) and Deckers Outdoor (DECK)) also withdrew its FY 2025 guidance due to macro uncertainty. Beyond earnings news, we'll get key inflation data this Friday. According to Wall Street Horizon data, the April Personal Consumption Expenditure (PCE) Price Index crosses the wires before the bell on the 30th, along with last month's Personal Income and Outlays data. Next week's macro calendar is active, with key Purchasing Manufacturing Index (PMI) figures from the Institute for Supply Management (ISM), and the May nonfarm payrolls survey Friday morning. Also keep your eye out for volatility in the crypto marketVice President Vance is set to speak at Bitcoin 2025 in Las Vegas on Wednesday just as the token notches new all-time highs. Tariffs, uncertainty, and unknowns about the consumer best describe Q1 retail reports and preliminary announcements this month. Still, the hard numbers have generally exceeded analysts' expectations, and major indexes have recovered sharply from the April lows. This week's slate of Q1 reports should offer further insights into the health of the consumer, and important macro updates will help paint the true picture as we head into the first half's close. 1 Advance Monthly Sales for Retail and Food Services, United States Census, May 15, 2025, DICK'S Sporting Goods Reports Preliminary Results for First Quarter of 2025; Reports Comparable Sales Growth of 4.5%, Dicks, May 15, 2025, Bath & Body Works Appoints Daniel Heaf as Chief Executive Officer, Bath & Body Works, Inc., May 19 2025, Kohl's Announces CEO Transition Process, Kohls, May 1, 2025, AEO Inc. Reports Preliminary First Quarter Results, American Eagle Outfitters, Inc., May 13, 2025, Copyright 2025 Wall Street Horizon, Inc. All rights reserved. Do not copy, distribute, sell or modify this document without Wall Street Horizon's prior written consent. This information is provided for information purposes only. Neither TMX Group Limited nor any of its affiliated companies guarantees the completeness of the information contained in this publication, and we are not responsible for any errors or omissions in or your use of, or reliance on, the information. This publication is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The information provided is not an invitation to purchase securities, including any listed on Toronto Stock Exchange and/or TSX Venture Exchange. TMX Group and its affiliated companies do not endorse or recommend any securities referenced in this publication. This publication shall not constitute an offer to sell or the solicitation of an offer to buy, nor may there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. TMX, the TMX design, TMX Group, Toronto Stock Exchange, TSX, and TSX Venture Exchange are the trademarks of TSX Inc. and are used under license. Wall Street Horizon is the trademark of Wall Street Horizon, Inc. All other trademarks used in this publication are the property of their respective owners. This article first appeared on GuruFocus.
