Shares of sports retailers soared on better-than-expected earnings from Foot Locker Inc, Shoe Carnival Inc and Hibbett Sports Inc as the companies sold more premium shoes and cut stocks of low-margin ones.
The German chain has appointed Johannes Jurecka to the newly created role of chief operations officer, poaching the exec from Foot Locker Europe. He will be in charge of e-commerce, marketing and fashion operations.
REI, one of the top sporting goods merchants in the US, has signed a ten year lease on an empty Sports Authority Store in Burbank that’s 43,000 square feet – despite competitors experiencing retail slumps.
Shares of sporting goods retailers were pummelled in early trading on Friday as dismal quarterly results from Hibbett and Foot Locker heightened concerns about a supply glut intensifying price wars in the industry.