×
73 584
Fashion Jobs
JCPENNEY
Asset Protection Associate - Plaza Bonita
Permanent · National City
JCPENNEY
Sales Floor Supervisor - South Park Mall
Permanent · San Antonio
JCPENNEY
Asset Protection Associate - Alderwood Mall
Permanent · Lynnwood
JCPENNEY
Sales Floor Supervisor - Washington sq
Permanent · Portland
JCPENNEY
Sales Floor Supervisor - Great Lakes Mall
Permanent · Mentor
ON RUNNING
sr Financial Analyst - Commercial Finance
Permanent · PORTLAND
ON RUNNING
Finance Systems Specialist
Permanent · PORTLAND
REISS
Area Visual Manager- South East
Permanent · MIAMI
URBN
Anthropologie Visual Merchandising Manager
Permanent · NEW YORK
URBN
Free People Assistant Visual Manager
Permanent · MIAMI
URBN
Free People Merchandise Planner
Permanent · PHILADELPHIA
SACK OFF 5TH
Asset Protection Investigator
Permanent · RIVERHEAD
BANANA REPUBLIC
Manager, Marketing Operations
Permanent · SAN FRANCISCO
OLD NAVY
Asset Protection Service Representative - Shops at Bruckner bl
Permanent ·
GAP INC.
sr Analyst, Finance - Forecast & Budget (Remote)
Permanent · ALBUQUERQUE
OLD NAVY
General Manager-Arsenal Yards
Permanent · WATERTOWN
CROCS
Crocs: Retail Area Manager Boston, ma
Permanent · BOSTON
NORDSTROM
Asset Protection - Agent - Midtown Mall Rack
Permanent · Anchorage
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Glendale
Permanent · GLENDALE
MICHAEL KORS
Part-Time Sales Supervisor, Fresno, ca
Permanent · Fresno
TJ MAXX
lp Detective-Southland
Permanent · Miami
HOMEGOODS
70118-lp Detective
Permanent · Birmingham
By
Reuters
Published
Nov 20, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Sports retail stocks jump after upbeat earnings

By
Reuters
Published
Nov 20, 2017

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.


Nike




Shares of the retailers jumped 19-22 percent in premarket trading. Foot Locker was the most actively traded among stocks listed on the New York Stock Exchange.

Brokerages Jefferies raised price target on Shoe Carnival’s shares by $2 to $22 and Wedbush to $27 on expectations of better performance in 2018.

“It is clear to us the Shoe Carnival team is managing its business exceptionally well,” Susquehanna analyst Sam Poser said.

“SCVL’s willingness to plan purchases appropriately (boots are planned down 10 percent for the season) resulted in inventory levels down 4.3 percent on a per-store basis at 3Q17-end.”

The strong results come at a time when many of its peers such as Sports Authority and Sports Chalet have gone bankrupt trying to beat competition from ecommerce sites that are forcing retailers to cut prices and clear excess stocks.

Nike’s decision to sell directly through ecommerce giant Amazon too has put pressure on brick-and-mortar retailers to slash prices and remain competitive.

Wedbush analysts said companies such as Shoe Carnival would benefit from better brand mix, conservative inventory planning, store closings and improved digital efforts.

Shoe Carnival and Hibbett have raised their same-store sales forecasts, while Foot Locker said it expects to achieve or modestly exceed top- and bottom-line guidance for the fourth quarter provided earlier in August.

“We look for an improvement in traffic and more top-line consistency to become more positive,” Jefferies analyst Randal Konik said, referring to Shoe Carnival.

© Thomson Reuters 2023 All rights reserved.