Earnings & Sales Reports – Footwear News

CEO Comments: “Our second quarter results reflected lower demand driven by similar factors impacting all of retail including inflation, the war in Ukraine and rising interest rates, as well as supply chain challenges and downstream impacts from last December’s fire at our Rocky Mount, NC fulfillment center that affected our merchandise availability and operational efficiency,” said David Rawlinson, president and CEO of Qurate Retail.

Aug. 4, 2022: Crocs, Inc. (CROX)

Earnings: Net income was $160 million in Q2. Diluted earnings per share was $2.58. Adjusted diluted earnings per share increased 45.3% to $3.24.

Sales: Consolidated revenues were $964.6 million, up 50.5% over 2021.

CEO comments:”I am very proud of our second quarter results,” said CEO Andrew Rees. “I am particularly excited by record revenues for the Crocs Brand and the strong growth internationally. Hey Dude continues to outperform our expectations and we now expect nearly $1 billion in pro forma revenues this year.”

Outlook: Crocs expects revenue to hit between $3.395 to $3.505 billion, with adjusted diluted earnings per share between $9.50 and $10.30.

Aug. 4, 2022 Adidas (ADDYY)

Earnings: Net income from continuing operations was € 360 million.

Sales:Currency-neutral sales were up 4%.

CEO Comments: “Our Western markets continued to show strong momentum in the second quarter amid heightened macroeconomic uncertainty. With Asia-Pacific returning to growth, markets combined representing more than 85% of our business grew at a double-digit rate,” said Adidas CEO Kasper Rorsted.

Outlook: Adidas lowered its outlook for fiscal year 2022 and expects currency-neutral revenues for the total company to grow at a mid- to high-single-digit rate.

Aug. 3, 2022: Under Armour (UA)

Earnings: Net income was $8 million. Adjusted net income was $15 million. Diluted earnings per share was $0.02. Adjusted diluted earnings per share was $0.03.

Sales: Revenue was flat at $1.3 billion compared to the prior year.

CEO Comments: “We delivered our quarter, are holding our full-year revenue outlook, and remain bullish on our brand strength while we navigate the current environment,” said Under Armour interim president and CEO Colin Browne. “Our relentless approach of delivering groundbreaking innovation will continue to manifest through 2022 and beyond as we work to unleash the full potential of the Under Armour brand.”

Outlook: Under Armour still expects revenue growth of between 5% and 7% in 2023. The company now expects diluted earnings per share between $0.61 and $0.67, down from its previous expectation of between $0.79 and $0.84.

July 28, 2022: Deckers Brands (DECK) reported earnings for Q1 of fiscal year 2023.

Earnings: Diluted earnings per share was $1.66. Net income was $44.8 million.

Sales: Net sales increased 21.8% to $614.5 million.

CEO comments: “Fiscal year 2023 is off to a solid start, with HOKA driving strong growth, propelling the brand to eclipse the billion-dollar milestone over the trailing twelve-month period,” said CEO and president Dave Powers. “The HOKA brand’s speed to achieve this feat is exciting, especially as the brand’s increasing penetration to our portfolio benefits Deckers’ overall quarterly financial and operational performance. In addition, our Board’s recent approval of a significantly increased share repurchase authorization shows a great deal of confidence in our long-term strategic plan and the opportunities that lie ahead.”

Outlook: The company expects net sales between $3.45 billion and $3.50 billion in 2023.

July 28, 2022: VF Corporation (VFC)

Earnings: Net income was a loss of $55.960 million in the first quarter of 2023.

Sales: Net revenue increased 3% to $2.3 billion in Q1.

CEO Comments: “We delivered solid top-line results in Q1, ahead of our initial expectations, led by strong consumer engagement with our outdoor, streetwear and active brands amidst a softer consumer environment and inflationary pressures,” Steve Rendle, chairman, president and CEO of VF, said in a statement. “While uncertainty persists across geographies and marketplaces from ongoing macro-economic headwinds, we are focused on the things that we can control and will continue our strategic investments to ensure long-term, sustainable and profitable growth.”

Outlook: VF is maintaining its currency adjusted fiscal year 2023 outlook while revising its earnings outlook on a reported dollar basis to reflect ongoing negative impacts from foreign currency fluctuations. It now expects adjusted EPS of $3.05 to $3.15, implying 4% to 7% growth versus the prior year on a constant dollar basis.

July 27, 2022: Columbia Sportswear Company (COLM)

Earnings: Net income decreased 82% to $7.2 million, or $0.11 per diluted share.

Sales: Net sales increased 2% to $578.1 million, compared to Q2 of 2021.

CEO Comments: “During the second quarter, which is our lowest volume sales quarter, performance trends varied greatly by region. Many markets continued to experience meaningful sales growth, while others were impacted by external headwinds and shipment delays. As we head into the important Fall sales season, we are eager to get our innovative product into the marketplace,” said chairman, president and CEO Tim Boyle.

Outlook: The company downgraded its outlook and net sales to increase between 10 and 12%.

July 27, 2022: Boot Barn Holdings, Inc. (BOOT)

Earnings: Net income was $39.3 million, or $1.29 per diluted share, in the first quarter of 2023 compared to $40.6 million, or $1.35 per diluted share in the prior-year period.

Sales: Net sales increased 19.4% over the prior-year period to $365.9 million in the first quarter of 2023.

CEO Comments: “Following the tremendous growth and profitability we achieved in fiscal 2022, we are very pleased to report another quarter of double-digit same store sales growth and earnings per share that were ahead of our expectations,” Jim Conroy, president and CEO of Boot Barn, said in a statement. “Our merchandise and marketing strategies combined with our expanding omni-channel capabilities continue to fuel strong full-price selling in stores and online. Our new stores are proving to be highly productive and we feel great about our real estate pipeline. We believe the addition of these new stores will help us to further gain share in the combined $40 billion western, work and country lifestyle markets. Given the current tone of the business, we continue to expect total sales to grow double digits versus last year driven by new store openings with same store sales flat to growing low single digits.”

Outlook: In light of recent macroeconomic uncertainty, the company is providing updated guidance for the fiscal year ending April 1, 2023. The company now expects total sales of $1.68 billion to $1.70 billion, representing growth of 12.9% to 14.2% over the prior year.

July 27, 2022: Steve Madden (SHOO)

Earnings: Net income was $48.5 million, or $0.62 per diluted share.

Sales: Revenue increased 34.5% to $535 million compared to $397.9 million in 2021.

CEO Comments: “We delivered strong results in the second quarter, with revenue and earnings growing robustly compared to the prior year and exceeding our expectations,” said chairman and CEO Edward Rosenfeld. “While macro pressures have increased, making the near-term outlook more uncertain, we are confident that our core strengths – our people, brands and business model – leave us well-positioned to drive growth and create significant value for our stakeholders over the long term.”

Outlook: For fiscal year 2022, Steve Madden expects sales to grow between 13% and 16% over last year. The company expects diluted EPS in the range of $2.87 to $2.97.

July 26, 2022: Skechers U.S.A., Inc. (SKX)

Earnings: Net earnings for the second quarter of 2022 were $90.4 million and diluted earnings per share were $0.58, a decrease of 34.1% over the prior year.

Sales: Quarterly sales increased 12.4% year-over-year to a record $1.87 billion in the second quarter of 2022.

CEO Comments: “2022 is shaping up to be another remarkable year for Skechers with two consecutive record sales quarters, the result of our talented team’s passion, determination and execution to evolve our product offering, inform the world of our exceptional comfort technologies, and effectively navigate the supply chain constraints,” Robert Greenberg, CEO of Skechers said in a statement.

Outlook: For the third quarter of 2022, the company believes it will achieve sales between $1.80 billion and $1.85 billion and diluted earnings per share of between $0.70 and $0.75.

June 27, 2022: Nike, Inc. (NKE)

Earnings: In the fourth quarter, Nike reported its net income was $1.4 billion, down 5%, and diluted earnings per share was $0.90, down 3% compared to prior year. But for the full fiscal year 2022, net income was $6.0 billion, up 6%, and diluted earnings per share was $3.75, up 5% compared to prior year.

Sales: Fourth quarter reported revenues were $12.2 billion, down 1% compared to prior year. For the full fiscal year, revenues increased 5% to $46.7 billion.

CEO Comments: “Nike’s results this fiscal year are a testament to the unmatched strength of our brands and our deep connection with consumers,” John Donahoe, president and CEO of Nike, Inc., said in a statement. “Our competitive advantages, including our pipeline of innovative product and expanding digital leadership, prove that our strategy is working as we create value through our relentless drive to serve the future of sport.”

June 7, 2022: Academy Sports and Outdoors, Inc. (ASO)

Earnings: GAAP net income decreased 15.7% to $149.8 million. Diluted earnings per share were $1.69. Adjusted net income was $153.2 million. Adjusted diluted earnings per share were $1.73.

Sales: Net sales decreased 7.1% to $1.47 billion. Compared to Q1 of 2019, net sales increased 36.3%.

CEO Comments: “We are satisfied with our first quarter results as the Company continued to position itself for long-term growth and expansion as we executed effectively in a highly dynamic environment and against a very strong prior year quarter,” said CEO and chairman Ken Hicks. “In April, we opened our first new store in over two years and are excited and proud of its early performance. We expect to open at least eight new stores in 2022 as part of our plan to open 80 to 100 stores over the next five years. Looking ahead, the team is focused on executing our 2022 priorities which will help drive long-term growth and sustainable profitability.”

Outlook: The company updated its outlook and expects total net sales in fiscal 2022 to be between $6.43 and $6.63 billion.

June 2, 2022: Lululemon Athletica Inc. (LULU)

Earnings: Income from operations increased 34% to $260.3 million. Diluted earnings per share were $1.48. Adjusted diluted earnings per share were $1.16.

Sales: Net revenue increased 32% to $1.6 billion.

CEO Comments: “In the first quarter of 2022, continued momentum in the business enabled us to achieve a strong start to the year. These results provide a solid foundation as we begin our next five-year journey and deliver against our new Power of Three ×2 growth plan, said CEO Calvin McDonald. “I want to thank our teams around the world for remaining agile and continuing to execute at a high level to achieve our goals, while successfully navigating the challenges within the macro environment. We look forward to all that lies ahead for lululemon as we continue to grow the brand.”

Outlook: For 2022, the company expects net revenue to be in the range of $7.610 billion to $7.710 billion.

June 2: Designer Brands Inc. (DBI)

Earnings: Net income was $26.2 million. with diluted earnings per share of $0.34. Adjusted net income was $36.7 million with diluted EPS of $0.48.

Sales: Net sales increased 18.1% to $830.5 million.

CEO Comments: “We saw robust growth in our Owned Brands in the quarter, both through our direct-to-consumer and wholesale channels, and believe we are on a great trajectory to achieve our goal of doubling our Owned Brand sales by 2026,” said Designer Brands CEO Roger Rawlins in a statement.

Outlook: For 2022, the company expects diluted EPS between $1.90 and $2.00.

June 1, 2022: Capri Holdings (CPRI), parent company to the Michael Kors, Versace and Jimmy Choo brands, reported results for the fourth quarter.

Earnings: Net income was $81 million, or $0.54 per diluted share. Adjusted net income was $152 million, or $1.02 per diluted share.

Sales: Revenue increased 24.6% to $1.492 billion.

CEO Comments: “Our ability to deliver record results while navigating the challenges of an unprecedented global pandemic is a testament to the strength of our brands and the success of our strategic growth initiatives. Most importantly, we would not have been able to achieve these results if not for the hard work, dedication and resiliency of our teams across the globe,” said John D. Idol, chairman and CEO.

Outlook: For fiscal year 2023, the company expects total revenue of about $5.95 billion, up about 5% compared to the prior year on a reported basis.

June 1, 2022: Dr. Martens Plc (DOCS) reported preliminary results for fiscal year 2022

Sales: Revenue was up 11% to £908.3 million, or $1.14 billion at current exchange.

CEO Comments: “We have a unique, iconic brand and thousands of passionate people globally, who act as brand custodians every day. I would like to thank each and every one of them for their hard work — these results are a testament to them,” said CEO Kenny Wilson.

Outlook: The company expects high-teens revenue growth for fiscal year 2023.

March 4: Hibbett (HIBB)

Earnings: Net income was $39.3 million, or $2.89 per diluted share.

Sales: Net sales decreased 16.3% to $424.1 million.

CEO Comments: “During the first quarter, our team effectively executed our strategic plan and delivered comparable store sales and financial results in line with our expectations. As we’ve previously discussed, our customers spending habits were affected by lower discretionary income due to the absence of stimulus payments received in the first quarter of last year. We are pleased to report that the supply chain disruption we experienced at the end of last year has improved and our current inventory position is strong and consistent with our forecast,” said CEO and president Mike Longo.

Outlook: Hibbett expects supply chain challenges in the year ahead to impact results. The company expects total net sales to be relatively flat in dollars compared to fiscal 2022 results.

May 26: Macy’s (M)

Earnings: Net income was $286 million. Diluted EPS was $0.98 and adjusted diluted EPS was $1.08.

Sales: Revenue was $5.35 billion.

CEO Comments: “Our company delivered solid results in the first quarter despite a challenging operating environment. We delivered strong earnings, beating our estimates, and sales that were in line with our expectations. While macroeconomic pressures on consumer spending increased during the quarter, our customers continued to shop. We saw a notable shift back to occasion-based apparel and in-store shopping, as well as continued strength in sales of luxury goods,” said CEO and chairman Jeff Gennette.

Outlook: For fiscal year 2022, Macy’s expects sales between $24.46 billion to $24.7 billion.

May 26, 2022: Genesco (GCO), which owns Journeys, Johnston & Murphy, and Schuh.

Earnings: GAAP EPS from continuing operations were $0.37.

Sales: Net sales declined 3% to $521 million (up 5% from 2020).

CEO Comments: “We are very pleased with our start to fiscal 2023, particularly our ability to exceed profitability expectations. While the year ago period posed a difficult comparison due to government stimulus-fueled consumer spending, especially for our Journeys business, our top and bottom line performance on a multi-year basis underscores the success of our footwear focused strategy and our conviction that our company is fundamentally stronger than prior to the pandemic,” said CEO Mimi Vaughn

Outlook: For fiscal year 2023, Genesco expects sales to be up between 1% and 3%, over 2022.

May 25: Dick’s Sporting Goods, Inc. (DKS)

Earnings: Earnings per diluted share were $2.47 and non-GAAP earnings per diluted share were $2.85.

Sales: Net sales of $2.7 billion, up 41% versus the Q1 of 2019

CEO Comments: “We are pleased with our first quarter results as our team continued to move with agility and execute well in a highly dynamic environment. Over the past two years, we have demonstrated our ability to adeptly manage through the pandemic and other challenges – and we are confident in our continued ability to adapt quickly and execute through uncertain macroeconomic conditions. Dick’s has a unique and powerful position in the marketplace, and we remain confident in our strategies and our ability to deliver long-term sales and earnings growth.”

Outlook: The company cut its outlooks and projects earnings per diluted share for fiscal 2022 to be between approximately $7.95 and $10.15.

May 24, 2022: Nordstrom, Inc. (JWN)

Earnings: First quarter net earnings of $20 million and earnings per diluted share of $0.13.

Sales: Total company net sales increased 18.7% to $3.5 billion compared with the same period in fiscal 2021.

CEO Comments: “Our focus on serving the customer through our interconnected model with Nordstrom and Nordstrom Rack, a scaled digital platform and a strong store fleet positioned us to capitalize on demand from customers who shopped for long-awaited occasions and refreshed their closets,” said Erik Nordstrom, CEO of Nordstrom, Inc. “In the first quarter, we drove strong topline growth with broad-based improvement across core categories and geographies. Importantly, we made progress on our strategic initiatives and continue to focus on increasing profitability on the path to achieving our financial targets.”

Outlook: The company is updating its outlook to reflect first quarter performance. Nordstrom now expects revenue growth, including retail sales and credit card revenues, of 6% to 8% versus fiscal 2021.

May 24, 2022: Caleres (CAL)

Earnings: Net earnings were $50.5 million, compared to net earnings of $6.1 million in the first quarter of fiscal 2021.

Sales: Net sales were $735.1 million, up 15.1% from the first quarter of fiscal 2021.

CEO Comments: “Caleres had an outstanding start to the year, executing at a high level and delivering record first quarter sales, gross profit margins and earnings despite significant and ongoing macro-challenges,” said Diane Sullivan, chairman and CEO. “Notably, Famous (Footwear) extended its exceptional performance from 2021, achieving another quarter of strong gross profit margin and generating nearly $50 million in operating earnings, while strategically investing for growth. In addition, our brand portfolio returned to nearly full strength during the first quarter, setting the stage for a significantly improved earnings contribution in 2022. In fact, our strong product design, diverse and targeted assortments, and bold and strategic approach to inventory drove the best-ever quarterly sales and operating earnings performance for the brand portfolio.”

Outlook: Caleres is raising its fiscal-year 2022 financial outlook. Specifically, the company now expects consolidated sales levels to be up between 2% and 5% when compared to fiscal year 2021 and expects earnings per diluted share to be between $4.20 and $4.40.

May 24, 2022: Ralph Lauren Corporation (RL)

Earnings: Net income in the fourth quarter of fiscal 2022 was $24 million, compared to a net loss of $74 million and net income of $28 million for the fourth quarter of fiscal 2021. In the full year of fiscal 2022, net income was $600 million, compared to a net loss of $121 million and net income of $127 million for fiscal 2021.

Sales: In the fourth quarter of fiscal 2022, revenue increased 18% to $1.5 billion and was up 22% in constant currency. For full year fiscal 2022, revenue increased 41% to $6.2 billion and increased 42% in constant currency.

CEO Comments: “Our teams around the world executed exceptionally well to deliver fourth quarter and full year results that exceeded our expectations as we continued to progress on our long-term strategic commitments,” said Patrice Louvet, president and CEO. “We have laid the groundwork for healthy sustainable growth and value creation in Fiscal 2023. As we continue to navigate a highly dynamic global macroeconomic environment, our growth will be supported by the strength of our brand and multiple engines — from recruiting new high-value consumers to developing high-potential product categories and geographic and channel expansion.”

Outlook: For the first quarter, the company expects revenue growth will be in a range centered around 8% in constant currency to last year. For fiscal 2023, the company expects constant currency revenues to increase approximately high single digits to last year on a 52-week comparable basis, with current outlook at around 8%.

May 20, 2022: Foot Locker Inc. (FL)

Earnings: Net income was $133 million, or $1.37 per share.

Sales: Total sales grew 1% to $2.18 billion.

CEO Comments: “We are off to a strong start in 2022, reporting a solid quarter against the tough comparisons of fiscal stimulus and historically-low promotions from last year,” said CEO Richard Johnson. “Our progress in broadening and enriching our assortment continues, as we continue to meet our customers’ demand for choice. These efforts helped drive our strong results in the first quarter, and we believe will allow us to more fully participate in the robust growth of our category going forward.”

Outlook: Foot Locker expects to hit the upper end of sales falling between 4% and 6% in 2022 and the upper end of same-store sales falling by 8% to 10%.

May 19, 2022: Deckers Brands (DECK) reported earnings for Q4 of fiscal year 2022.

Earnings: Diluted earnings per share was $2.51. Net income was $68.8 million.

Sales: Net sales increased 31.2% to $736.0 million.

CEO Comments: “Fiscal year 2022 was another record year for Deckers, as we delivered both revenue and earnings per share growth above twenty percent,” said CEO and president Dave Powers. “Over the last two years, our portfolio of brands has added more than one billion dollars of revenue, while making progress towards key long-term strategies, and maintaining top-tier levels of profitability, despite navigating unprecedented disruption across the global supply chain. I am incredibly proud of our performance over the last couple of years, but with the power of our brands and our people, I am even more excited about the opportunities ahead.”

Outlook: For fiscal year 2023, Net sales are expected to be between $3.45 billion and $3.50 billion.

May 19, 2022: VF Corporation (VFC), which includes the Vans, The North Face, Supreme, and Timberland brands, among others, reported results for Q4.

Earnings: Earnings per share was $0.21, up 32%. Adjusted earnings per share grew 67% to $0.45.

Sales: Revenue grew 9% to $2.8 billion.

CEO Comments: “I am pleased with the progress we have made advancing our strategic priorities while successfully navigating another eventful year. We largely delivered on the commitments we made at the outset of Fiscal 2022 by achieving broad-based growth across our family of brands. A portion of our active segment did not achieve its potential. We understand the issues, we have the right people in place and we know we will do better,” said VF chairman CEO Steve Rendle.

Outlook: VF Corp. expects total revenue to grow 7% in fiscal year 2023.

May 19, 2022: Kohl’s Corporation (KSS)

Earnings: Net income came in flat compared to the same period last year at $14 million in the first quarter of 2022.

Sales: First quarter net sales decreased 5.2% to $3.72 billion compared to $3.9 billion in the same period last year.

CEO Comments: “The year has started out below our expectations. Following a strong start to the quarter with positive low-single digits comps through late March, sales considerably weakened in April as we encountered macro headwinds related to lapping last year’s stimulus and an inflationary consumer environment,” Michelle Gass, Kohl’s CEO, said in a statement. “We remain committed to our long-term strategy and are encouraged that our updated store experience, with Sephora at Kohl’s shops, delivered positive comparable store sales across these 200 locations for the quarter. We continue to expect our business to improve as the year progresses, with growth in the second half as we benefit from the roll out of 400 additional Sephora stores, enhanced loyalty rewards and further investment in our stores.”

Outlook: The company has updated its full year 2022 outlook. It now expects net sales to be in the range of 0% to 1% compared to the prior year.

May 18, 2022: Shoe Carnival, Inc. (SCVL)

Earnings: Net income was $26.9 million, or $0.95 per diluted share.

Sales: Net sales were $318 million up 25.1% over 2019.

CEO Comments: “Our strategies to double our operating profit compared to the levels before the pandemic have worked. Our first quarter results demonstrate the structural profit transformation and increased scale our plans have achieved compared to pre-pandemic results. With gross profit margins in the mid-thirties, double-digit operating profit margin and store productivity above $300 per square foot, we are incredibly optimistic about our future growth and long-term profit potential,” said CEO Mark Worden.

Outlook: Net sales for fiscal 2022 are expected to increase 4 to 7% compared to the prior year, on top of the 36.2% increase achieved during fiscal 2021.

May 18: Target (TGT)

Earnings: Q1 GAAP earnings per share were $2.16, down 48.2% from $4.17 in 2021. Adjusted EPS was $2.19.

Sales: First quarter total revenue was $25.2 billion, up 4% compared with last year.

CEO Comments: “Throughout the quarter, we faced unexpectedly high costs, driven by a number of factors, resulting in profitability that came in well below our expectations, and well below where we expect to operate over time,” said CEO Brian Cornell.

Outlook: Target expects low- to mid- single digit revenue growth in fiscal year 2022.

May 17: On (ONON)

Earnings: Net income was CHF 14.3 million (about $14.41 million).

Sales: Net sales grew by 67.9% in Q1 2022 to CHF 235.7 million (or about $237.51 million).

CEO Comments: “We are extremely proud and grateful to report that we continue to see strong demand for the On brand globally and we had an outstanding start to 2022,” said Martin Hoffmann, Co-CEO and CFO of On. “Our team has once again done phenomenal work to navigate through an uncertain supply chain environment and to mitigate the impacts from last year’s factory closures. While the transitory supply shortage had still limited our ability to fulfil all of the demand, we were able to ship more products to our customers than expected while also maintaining profitability.”

Outlook: For fiscal year 2022, On expects net sales of more than CHF 1.04 billion (about $1.05 billion), which would mark a 44% growth over 2021.

May 17: Walmart (WMT)

Earnings: Adjusted earnings per share were $1.30.

Sales: Total revenue was $141.6 billion, up 2.4%. Walmart US comp-store sales were up 3%.

CEO Comments: “Across our businesses, we had a strong topline quarter. We’re grateful to our associates for their hard work and creativity. Bottomline results were unexpected and reflect the unusual environment. U.S. inflation levels, particularly in food and fuel, created more pressure on margin mix and operating costs than we expected. We’re adjusting and will balance the needs of our customers for value with the need to deliver profit growth for our future,” said Walmart president and CEO Doug McMillon.

Outlook: Walmart raised its sales outlook this year and expects net sales to increase about 4% for the full year in constant currency.

May 12, 2022: Tapestry (TPR), the parent to Coach, Kate Spade New York and Stuart Weitzman, reported Q3 results.

Sales: Net sales were $1.44 billion, up 13% from last year.

Earnings: Net income was $123 million on a reported basis, with earnings per diluted share of $0.46.

CEO Comments: “Our third quarter results significantly exceeded expectations led by continued strong growth in North America. We drove increased customer demand at Coach, Kate Spade and Stuart Weitzman, reflecting the vibrancy of each of our brands, the power of our platform and our team’s successful execution of our strategic initiatives, ”said CEO Joanne Crevoiserat.

Outlook: Tapestry lowered its outlook and expects revenue of about $6.7 billion in fiscal year 2022.

May 11: Wolverine Worldwide Inc. (WWW), which includes the Saucony, Sperry, are Merrell brands, among others.

Earnings: Diluted earnings per share were $0.12, compared to $0.45 in the 2021. Adjusted diluted earnings per share were $0.41.

Sales: Revenue was $614.8 million, up 20.4% over 2021, led by sales from the Merrell brand.

CEO Comments: “We delivered strong financial results in the quarter despite continued supply chain challenges and macro headwinds,” said president and CEO Brendan Hoffman. “Revenue and operating margin exceeded expectations, despite gross margin pressure related to higher supply chain costs and channel mix shift. We are encouraged to see continued strong demand across brands and have upcoming product launches and powerful marketing initiatives planned to drive further excitement among consumers. Looking ahead, we remain committed to advancing our primary growth strategies, with a more focused approach on execution as we capitalize on a favorable industry backdrop in outdoor, performance and work categories.”

Outlook: The company expects fiscal 2022 revenue growth of between 15% and 18%, or between $2.775 billion and $2.850 billion.

May 10: Allbirds (BIRD)

Earnings: Gross profit increased 26% to $32.6 million. GAAP net loss was $21.9 million, or $0.15 per basic and diluted share.

Sales: Net revenue increased 26% to $62.8 million in Q1.

CEO Comments: “We are pleased to deliver strong first quarter performance across our key financial metrics, particularly against the backdrop of a volatile operating environment,” said Joey Zwillinger, co-founder and co-CEO. “Tumult around the world since our last earnings report, including Russia’s invasion of Ukraine and China’s COVID-19 restrictions, impacted the performance of our international business in Q1 and is expected to persist for the remainder of 2022.”

Outlook: Allbirds expects to see strong full year revenue growth of between 21% to 24% in 2022.

May 10: Boot Barn Holdings, Inc. (BOOT)

Earnings: Net income for the fourth quarter was $44.7 million, compared to $24.6 million in the prior-year period. Net income was $192.5 million for the full year, compared to $59.4 million in the prior-year period.

Sales: Net sales in the fourth quarter increased 48.1% over the prior-year period to $383.3 million. For full fiscal 2022, net sales increase of 66.6% to $1.488 billion.

CEO Comments: It was an incredible year by every measure,” said Jim Conroy, president and CEO. “With our top-line increasing 67% over the previous year, we far surpassed the one-billion-dollar mark for the first time, generating $1.5 billion in sales for fiscal 2022. Importantly, our performance was highlighted by very strong full-price selling, which contributed to a 270-basis point increase in merchandise margin and a more than tripling of our earnings per share to a record $6.33. We are excited about the strength in the business through the first six weeks of fiscal 2023, with consolidated same store sales growth of approximately 12% compared to the prior-year period.”

Outlook: Boot Barn now expects total sales for the full fiscal year 2023 to reach $1.740 billion, with a net income of $197 million.

May 10: Mytheresa – MYT Netherlands Parent B.V. (MYTE)

Earnings: Adjusted net income was €5.6 million ($5.89 million, based on current exchange rate) in the third quarter of 2022, as compared to €4.5 million ($4.7 million) in the prior year period.

Sales: Net sales increased €4.7 million ($4.9 million) in the third quarter of 2022, or 2.9% year-over-year to €169.5 million ($178.5 million).

CEO Comments: “Our business has shown excellent strength despite the impact of many external challenges in the third quarter,” said CEO Michael Kliger. “I am pleased, that Mytheresa delivered very solid results and continued adjusted EBITDA profitability. We grew our GMV double- digit, we expanded our customer base healthily, our top customer base has become even stronger and all this against an extraordinary growth of 47% in last year’s quarter. We continued to see strong growth in the United States, where we again had the highest growth for Mytheresa, with outsized growth in warmer weather states like Florida and Texas.”

Outlook: Mytheresa is expecting net sales between €700 million to €720 million ($737 million to $758 million, based on current exchange rate) for full fiscal 2022.

May 9, 2022: ThredUp (TDUP)

Earnings: Gross profit grew 26% year-over-year to $50.2 million. GAAP net loss was $20.7 million.

Sales: Revenue grew 31% to $72.7 million.

CEO Comments: “We kicked off 2022 with another quarter of strong financial performance, demonstrating the ongoing competitive advantages we’ve developed in our supply chain,” said ThredUp CEO and co-founder James Reinhart. “We’re thrilled about the progress we’re making in the European market as well as the growing roster of brands and retailers we’re supporting through our RaaS offering.”

Outlook: For fiscal year of 2022, ThredUp expects revenue between $315 million and $325 million and gross margin between 67% and 69%.

May 6, 2022 Adidas (ADDYY)

Earnings: Net income from continuing operations decreased to € 310 million ($327.8 million).

Sales: Currency neutral revenues fell 3%. Net sales rose 0.6% to 5.3 billion euros ($5.6 billion) in the first quarter.

CEO Comments: “Backed by an exceptionally strong wholesale order book and relentless focus on driving growth in our own DTC channels, we expect this positive development to continue for the rest of the year,” said Adidas CEO Kasper Rorsted.

Outlook: Though the company expects full year results to be impacted by lockdowns in China, it confirmed its top- and bottom-line outlook for 2022 and expects to land in the lower range of estimates for revenues and net income.

May 6, 2022: Under Armour (UA)

Earnings: Net loss was $60 million Adjusted net loss was $3 million. Diluted loss per share was $0.13. Adjusted diluted loss per share was $0.01.

Sales: Revenue was up 3% year over year to $1.3 billion.

CEO Comments: “As global supply challenges and emergent COVID-19 impacts in China eventually normalize, we are confident that the strength of the Under Armour brand coupled with our powerful growth strategy positions us well to deliver sustainable, profitable returns to shareholders over the long-term,” said president and CEO Patrik Frisk.

Outlook: Under Armour expects full year revenue to increase between 5% and 7%.

May 05, 2022: Crocs, Inc. (CROX) reported its first quarter

Earnings: Net income was $72.8 million in Q1. 0% for the full year to $683.1 million from $214.1 million last year. Diluted earnings per share were $1.19 and adjusted diluted earnings per share increased 37.6% to $2.05.

Sales: Revenues were $660.1 million, up 43.5% from 2021.

CEO comments: “Our first quarter revenue growth of 47% on a constant currency basis is a testament to the underlying strength of the Crocs and HEYDUDE brands,” said CEO Andrew Rees.

Outlook: Crocs raised it full year outlook and expects revenue to hit approximately $3.5 billion, with adjusted diluted earnings per share between $10.05 and $10.65.

April 28, 2022: Columbia Sportswear Company (COLM)

Earnings: Net income increased 20% to $66.8 million. Diluted earnings per share increased 23% to $1.03.

Sales: Net sales increased 22% to $761.5 million, compared to Q1 of 2021.

CEO Comments: “We are confident in our ability to realize the tangible growth opportunities that we have ahead, and this confidence is reflected in our repurchase of over $200 million in common stock during the quarter,” said chairman, president and CEO Tim Boyle.

Outlook: The company expects 16 to 18 percent net sales growth in 2022.

April 27, 2022: Steve Madden (SHOO)

Earnings: Net income was $74.5 million, or $0.94 per diluted share.

Sales: Revenue increased 55.0% to $559.7 million compared to $361.0 million in 2021.

CEO Comments: “We got off to an outstanding start to the year, delivering the highest quarterly earnings in our history in the first quarter. The trend-right product assortments created by Steve and our design teams drove robust consumer demand for our brands and strong performance across channels, product categories and geographies,” said chairman and CEO Edward Rosenfeld. “These results reflect our team’s disciplined execution of our strategic initiatives, and we are confident that the strength of our team and strategy will enable us to drive sustainable growth for years to come.”

Outlook: For fiscal year 2022, Steve Madden expects sales to grow between 13% and 16% over last year. The company expects diluted EPS in the range of $2.87 to $2.97.

April 26, 2022: Skechers (SKX)

Earnings: Net earnings for the fourth quarter were $121,223 million. Diluted earnings per share were $0.77, up 22.2% year over year.

Sales: Sales were $1.82 billion, up 26.8% from last year.

CEO Comments: “As we mark our third decade in business, we couldn’t be more excited about our future. In the first quarter, we achieved a new quarterly sales record, delivered the most innovative, stylish and comfortable product yet, and supported it with impactful marketing,” said CEO Robert Greenberg.

Outlook: For Q2 of 2022, Skechers expects sales between $1.75 billion and $1.80 billion.

April 7, 2022: Ermenegildo Zegna N.V. (ZGN)

Sales: The company reported a 27% increase in 2021 preliminary revenues to 1.29 billion euros ($1.45 billion based on current exchange rate) compared with 1 billion euros ($1.09 billion) in 2020.

CEO Comments: “I am particularly excited to see our U.S. and UAE business continue to grow while our business in Europe continues to see a post-lockdown rebound,” said CEO Ermenegildo “Gildo” Zegna. “We remain vigilant, but our 2021 results and our flexibility give me confidence that we are on the right track to reaching the targets set out in our Plan last year and the Group’s longer-term ambitions even sooner than we anticipated.”

Outlook: The company is forecasting revenue growth in the low-teens for fiscal 2022.

April 6, 2022: Levi Strauss & Co. (LEVI) reported earnings for Q1 of 2022

Earnings: Net income was $196 million compared to $143 million in Q1 of last year. Adjusted net income was $189 million. Adjusted diluted earnings per share was $0.46. Diluted earnings per share was $0.48.

Sales: Net revenue was $1.6 billion up 22% year over year.

CEO Comments: “We started the year with strong consumer demand and solid momentum across geographies, channels and categories,” said president and CEO Chip Bergh. “Our teams’ disciplined execution of our strategic priorities enabled us to deliver strong top and bottom-line growth as we capitalize on structural tailwinds and successfully manage a dynamic operating environment. The strength of our brands and strategy position us to deliver sustainable growth well into the future.”

Outlook: The company expects net revenue in 2022 of between $6.4 billion and $6.5 billion and expects adjusted diluted EPS of between $1.50 and $1.56.

March 29, 2022: Lululemon Athletica Inc. (LULU)

Earnings: Gross profit in the fourth quarter of 2021 increased 22% from the same period last year to $1.2 billion. For full fiscal 2021, gross profit increased 46% compared to last year to $3.6 billion.

Sales: Net revenue in the fourth quarter of 2021 increased 23% from the same period last year to $2.1 billion. Net revenue for full fiscal year 2021 increased 42% compared to last year to $6.3 billion.

CEO Comments: “2021 was another successful year for Lululemon, which speaks to the enduring strength of our brand and our ability to deliver sustained growth across the business,” said CEO Calvin McDonald. “We are proud that we passed the $6 billion in annual revenue milestone for the first time, and successfully achieved our Power of Three growth target ahead of schedule. This was especially impressive given the challenging macro backdrop. We are entering the new year from a position of strength, which we’ll build upon to continue delivering for our guests and shareholders in the years to come.”

Outlook: For the first quarter of fiscal 2022, the company expects net revenue to be in the range of $1.525 billion to $1.550 billion, representing growth of 24% to 26%. For fiscal 2022, the company expects net revenue to be in the range of $7.490 billion to $7.615 billion, representing growth of 20% to 22%.

March 29, 2022: Academy Sports and Outdoors, Inc. (ASO)

Earnings: For the fourth quarter, GAAP net income increased 54.9% to $141.8 million compared to $91.5 million. For fiscal 2021, GAAP net income increased 117.4% to $671.4 million compared to $308.8 million.

Sales: For the fourth quarter, net sales increased 13.2% to a quarterly record of $1.8 billion. For fiscal 2021, net sales increased 19.1% to a record $6.77 billion.

CEO Comments: “2021 was an extraordinary year for Academy Sports + Outdoors. The team delivered the highest sales and profits in the company’s history while navigating the many challenges faced by the company and the retail industry,” said Ken Hicks, chairman, president and CEO. “We are proud of what our company has accomplished over the past three years, but even more excited about our future growth prospects. Academy is well positioned for substantial long-term growth in its existing stores with our broad assortment of great products from the best national and quality private brands, excellent customer service, expanding omnichannel capabilities, and multiple new store openings in our current and new markets.”

March 18: On (ONON)

Earnings: Net loss grew to CHF 187 million ( about $199 million) from CHF 2.6 million (about $2.8 million)

Sales: Net sales grew by 53.7% in Q4 2021 to CHF 724.6 million (or about $773.92 million)

CEO Comments: “The circumstances of the fourth quarter made the last miles even more challenging. But thanks to our whole team we were able to exceed our expectations for Q4 and to successfully finish the year with many new record numbers,” said Martin Hoffmann, Co-CEO and CFO of On.

Outlook: For fiscal year 2022, On expects net sales of more than CHF 990 million (about $1057 million), which would mark a 37% growth over 2021.

March 17: Designer Brands Inc. (DBI)

Earnings: Net income was $14.4 million, or diluted earnings per share of $0.19. Adjusted net income was $11.7 million, or diluted EPS of $0.15.

Sales: Net sales increased 35% to $822.6 million.

CEO Comments: “I am incredibly proud of all Designer Brands’ accomplishments this year. Our flexible business model supported by our dedicated and hardworking associates has allowed us to emerge from this unprecedented operating environment in a position of strength both strategically and financially,’ said Designer Brands CEO Roger Rawlins in a statement. “We now have the ability to quickly shift our assortment to match the product our consumer is demanding, and the infrastructure to meet that consumer wherever they are, which is powered by our best-in-class omnichannel capabilities.”

Outlook: For 2022, the company expects comparable sales growth in the high-single digits and diluted EPS between $1.75 and $1.85

Notes: DTC channels for Designer Brands (DSW, Shoe Company and vincecamuto.com) were up 98% in Q4 over 2020.

March 16, 2022: Shoe Carnival, Inc. (SCVL)

Earnings: Fourth quarter net income hit a record high at $20.6 million compared to $7.4 million in the fourth quarter of 2020. Full fiscal year 2021 net income was a record $154.9 million, compared to $16.0 million in fiscal 2020.

Sales: Fourth quarter net sales grew 23.4% to $313.4 million, compared to $253.9 million in the same period last year. Full fiscal year 2021 net sales grew 36.2% to $1.33 billion, compared to $976.8 million in fiscal 2020.

CEO Comments: “Our strategic investments, and recent acquisition of a second retail banner, have us positioned very well for continued sales growth in 2022, and for rapid store expansion in the years ahead,” Mark Worden, president and CEO of Shoe Carnival, said in a statement. “We now expect to sustain operating income and EPS levels that are more than double the pre-pandemic record levels set in fiscal 2019.”

Outlook: Net sales for fiscal 2022 are expected to increase 4 to 7% compared to the prior year, on top of the 36.2% increase achieved during fiscal 2021.

March 15: Caleres (CAL), which owns Famous Footwear, Sam Edelman, Vince, Dr. Scholl’s Shoes, and more brands.

Earnings: Adjusted net income was about $34.9 million, with earnings per diluted share of $0.91.

Sales: Net sales were up 19% to $679.3 million compared to Q4 of fiscal 2020.

CEO Comments: “The Caleres team delivered its best-ever financial performance in 2021, with adjusted earnings per share that was nearly double the company’s previous all-time record,” said chairman and CEO Diane Sullivan. “Caleres capped off that exceptional 2021 performance with record-setting fourth quarter results, providing significant momentum as we head into fiscal 2022. These excellent results demonstrate the strength of our portfolio of brands, the success of our advanced operating capabilities, the tremendous efforts and talents of our global Associates and the significant value-enhancing transformation of the organization.”

Outlook: The company expects record adjusted earnings per diluted share for fiscal year 2022 of between $3.75 and $4.00.

March 10, 2022: Genesco (GCO), which owns Journeys, Johnston & Murphy, and Schuh.

Earnings: GAAP EPS from continuing operations was $4.41 compared to $6.20 last year. Non-GAAP EPS from continuing operations increased to $3.481 from $2.76 last year.

Sales: Net sales grew 14% from last year to $728 million.

CEO Comments: “We concluded an outstanding year with a very strong fourth quarter that far exceeded our expectations,” said said CEO Mimi Vaughn. “Our holiday performance was fueled by unprecedented levels of full-price selling and strong in-store sales while our digital channel held on to most of last year’s record gains. Throughout Fiscal 2022 we accelerated our recovery from the pandemic even as we navigated a number of challenges, driving double digit sales growth and record profitability for our footwear companies led by Journeys.”

Outlook: For fiscal year 2023, Genesco expects sales to be up between 2% and 4% over 2022.

March 8: Stitch Fix, Inc. (SFIX) announced results for the second quarter.

Earnings: Net loss of $30.9 million, with diluted loss per share of $0.28.

Sales: Net revenue increased 3% to $517 million, year over year.

CEO Comments: “While Freestyle revenue grew 29% year on year in the second quarter, we continue to experience challenges with onboarding and conversion of clients, which are not where we want them to be,” said Elizabeth Spaulding, CEO of Stitch Fix. “We remain confident in our long-term strategy, and are resolutely focused on building and enhancing the overall client experience for Fix and Freestyle with an emphasis on growing active clients.”

Outlook: Stitch Fix Expects a net revenue of between $485 to $500 million in Q3, which would mark a decline from last year.

March 8: Dick’s Sporting Goods, Inc. (DKS)

Earnings: Net income for the fourth quarter of 2021 was $346.1 million, an increase of 43% compared to the fourth quarter of 2020 and an increase of 290% compared to the fourth quarter of 2019. And net income was $1.52 billion in fiscal 2021, an increase of 142% compared to fiscal 2020 and an increase of 315% compared to fiscal 2019.

Sales: Net sales for the fourth quarter of 2021 were $3.35 billion, an increase of 7.3% compared to the fourth quarter of 2020 and a 28.5% increase compared to the fourth quarter of 2019. And net sales were $12.29 billion in fiscal 2021, an increase of 28.3% compared to fiscal 2020 and a 40.5% increase compared to fiscal 2019.

CEO Comments: “We are extremely pleased that our team delivered the largest sales quarter in our company’s history,” said Lauren Hobart, president and CEO. “Our diverse category and brand portfolio, world-class omni-channel platform and strong execution continue to help us meet robust consumer demand. We are a growth company with a strong balance sheet and incredible momentum and confidence in our business. Our 2022 sales and earnings outlook establishes a new foundation for us to build on in the future.”

Outlook: The company currently projects earnings per diluted share for fiscal 2022 to be approximately $9.96 to $11.13.

March 7: ThredUp (TDUP)

Earnings: Gross profit grew 62% year-over-year to $48.2 million.

Sales: Revenue grew 68% to $72.9 million.

CEO Comments: “We ended our first year as a public company with another quarter of strong financial performance,” said James Reinhart, CEO and co-founder at ThredUP. “In 2022, we expect our continued investment in our infrastructure both domestically and internationally will enable us to keep building the foundation for the future of resale on the internet.”

Outlook: For fiscal year of 2022, ThredUp expects revenue between $330 million and $340 million and gross margin between 64% and 66%.

March 4: Hibbett (HIBB)

Earnings: Net income was $17.7 million, or $1.25 per diluted share.

Sales: Net sales increased 1.7% to $383.3 million.

CEO Comments: “Although the second half of the fourth quarter was weaker than anticipated due to ongoing supply chain challenges, inflation concerns for the consumer and increased COVID-19 cases, we believe these negative factors that impacted traffic and transaction volume from late December through January will begin to subside in the coming months,” said CEO and president Mike Longo

Outlook: Hibbett expects supply chain challenges in the year ahead to impact results. The company expects total net sales to be relatively flat in dollars compared to fiscal 2022 results.

March 1: Nordstrom (JWN)

Earnings: Net earnings were $200 million, or $1.23 per diluted share (“EPS”).

Sales: Revenues increased 23% to $4.49 billion.

CEO Comments: “We advanced our strategic initiatives this quarter, with sequential sales improvement, strong digital growth and a significant increase in profitability,” said CEO Erik Nordstrom. “Our team continues to work with urgency to accelerate our progress and invest in our capabilities to better serve customers and profitably grow sales. Our primary focus is on three areas: improving Nordstrom Rack performance, increasing profitability and optimizing our supply chain and inventory flow.”

Outlook: Nordstrom expects revenue growth in 2022 of between 5% and 7% versus fiscal 2021.

March 1: Ross Stores, Inc. (ROST)

Earnings: Net income for the fourth quarter of 2021 was $367 million, down from $456 million in the same period last year. Total net income for fiscal 2021 was $1.72 billion, up from net earnings of $1.66 billion in fiscal 2019.

Sales: Revenue for the fourth quarter of 2021 was $5.0 billion, with comparable store sales up 9% versus the same period in 2019. Total sales for fiscal 2021 grew 18% to $18.9 billion, up from $16.0 billion in fiscal 2019, with comparable store sales up 13%.

CEO Comments: “We achieved strong sales results in the fourth quarter despite the negative impact from both the surge in Omicron cases during the peak holiday selling period and continued supply chain congestion,” Barbara Rentler, CEO of Ross Stores, said in a statement. “Fourth quarter operating margin of 9.8% was down from 13.3% in 2019 mainly due to ongoing headwinds from higher freight, wages, and COVID-related costs.”

Outlook: Comparable store sales for fiscal 2022 are forecast to be flat to up 3% versus a 13% gain in fiscal 2021. Earnings per share for fiscal 2022 are projected to be $4.71 to $5.12 compared to $4.87 in the prior year.

March 1: Rocky Brands, Inc. (RCKY)

Earnings: Net income for the fourth quarter of 2021 increased 29.1% to $12.5 million. Total net income for fiscal 2021 was $20.6 million.

Sales: Net sales for the fourth quarter of 2021 increased 93.4% to $169.5 million. Total net sales for fiscal 2021 increased 85.4% to $514.2 million.

CEO Comments: “For the majority of the year, we were able to fully meet demand and expand our share in multiple footwear categories including western, work and outdoor,” said Jason Brooks, chairman, president and CEO of Rocky Brands, in a statement. “While we encountered fulfillment challenges starting in the third quarter that pressured margins and hindered our ability to deliver a portion of orders on time, we have since made good progress regaining efficiencies in our Ohio distribution center and bringing our new Reno, Nevada distribution center online. We move forward in a solid position to take better advantage of our enviable inventory position and leverage our North American-based manufacturing facilities to drive profitable growth and generate greater shareholder value.”

March 1: Target (TGT)

Earnings: Q4 GAAP earnings per share was $3.21. Adjusted EPS was $3.19.

Sales: Fourth quarter total revenue was $31.0 billion grew 9.4% compared with last year.

CEO Comments: “Our strong fourth-quarter performance capped off a year of record growth in 2021, reinforcing the durability of our business model and our confidence in long-term profitable growth,” said Brian Cornell, chairman and CEO of Target. “As we look ahead, we’ll keep investing and delivering on all that has earned the loyalty and trust of our guests; that starts with our outstanding team and includes continued differentiation through affordability, assortment, ease and convenience.”

Outlook: Target expects low- to mid-single digit revenue growth in fiscal year 2022. Target had a year of record growth in 2021.

March 1: Kohl’s (KSS)

Earnings: Q3 diluted earnings per share were $2.20.

Sales: Revenue was $6.22 billion.

CEO Comments: “In 2021, we delivered all-time record earnings per share, significantly ahead of our expectations. Our operating margin of 8.6% exceeded our 2023 goal two years ahead of plan, a direct result of our efforts to restructure the business to be more profitable. We remain extremely confident in the future growth and cash flow generation of our business, and in 2022 will build on our momentum as we further scale key initiatives such as Sephora,” said CEO Michelle Gass.

Outlook: Full year 2022 net sales are expected to increase 2% to 3% compared to 2021.

Feb. 25: Foot Locker Inc. (FL), which includes the Eastbay, Foot Action, Champs, and Sidestep brands.

Earnings: Net income was $103 million, or $1.02 per share.

Sales: Total sales grew 6.9% to $2.3 billion.

CEO Comments: “We closed out a record year by delivering solid fourth quarter results that reflect the ongoing momentum we have built in our business in the midst of an evolving market,” said CEO Richard Johnson. “We made significant progress diversifying our brands, categories and channels in 2021, as well as expanding our customer base across demographics and high-growth geographies with the acquisitions of WSS and atmos. We also invested in our omni-channel platform to accelerate our DTC strategy and enhance the customer experience with new speed and convenience capabilities. And we continue to expand our private label merchandise offerings, including the most recent launch of our new womenswear brand.”

Outlook: Foot Locker expects sales to fall between 4% and 6% in 2022 and same-store sales to fall by 8% to 10%.

Feb. 24: Steve Madden (SHOO)

Earnings: Net income $66 million, or $0.81 per diluted share.

Sales: Revenue increased 63.9% to $578.5 million compared to $353.0 million in 2020.

CEO Comments: “We delivered outstanding results in the fourth quarter, with revenue increasing 38% and diluted EPS more than doubling compared to 2019 – performance that reflects the strength of our brands and the robust consumer demand for the on-trend merchandise assortments created by Steve and our design teams,” said chairman and CEO Edward Rosenfeld. “The exceptional momentum in our direct-to-consumer business continued, with revenue up 63% compared to 2019, and our wholesale business accelerated significantly, with revenue increasing 31% compared to 2019.”

Outlook: For fiscal year 2022, Steve Madden expects revenue growth of 10% to 13% over fiscal 2021 with diluted EPS between $2.66 and $2.76.

Feb. 23: Allbirds (BIRD)

Earnings: Gross profit was $48.8 million. GAAP net loss was $10.4 million, or $0.09 per basic and diluted share.

Sales: Net revenue increased 23% to $97.2 in Q4 compared to Q4 of 2020 and grew 43% compared to Q4 of 2019. Full year net revenue rose 27% to $277.5 million over 2020.

CEO Comments:“We are pleased to report a strong finish to 2021, with Q4 representing our largest revenue quarter on record, headlining financial performance ahead of our guidance targets,” said Joey Zwillinger, cofounder and co-CEO. “Our results reflect strong global demand for the Allbirds brand and best-in-class execution by our teams during a period of ongoing macro challenges.”

Feb. 23: Wolverine Worldwide Inc. (WWW), which includes the Saucony, Sperry, are Merrell brands, among others.

Earnings: Diluted earnings per share were $0.18, compared to $2.10 in the 2020. Adjusted diluted earnings per share were $0.41.

Sales: Revenue was $635.6 million, up 24.7% over 2020.

CEO Comments: “We are pleased that the Company managed through a challenging supply chain to deliver nearly 25% revenue growth in the fourth quarter,” said CEO and president Brendan Hoffman. “I am thrilled to be leading the organization at such a pivotal time. Our strong portfolio of iconic brands combined with the operational foundation built over the last decade positions us to capitalize on very favorable consumer and category trends. Excluding Sweaty Betty, fiscal 2021 revenue exceeded 2019 which speaks to our team’s resolve and tenacity in overcoming the impact of COVID-19.”

Outlook: The company expects fiscal 2022 revenue growth of between 15% and 18% and adjusted EPS growth of between 19% and 27%.

Feb. 23: TJX Companies Inc. (TJX), parent to Marshalls, T.J. Maxx, and Home Goods

Earnings: Net income for Q4 was $940 million. Diluted earnings per share were $.78.

Sales: Net sales were $13.9 billion, marking a year-over-year increase of 27%.

CEO comments: “While freight and wage cost pressures remain elevated, we are pleased that our retail pricing strategy is working very well,” said CEO Ernie Herrman. “This gives us confidence in improving our profitability when the macro environment normalizes, while continuing to offer exceptional values to customers every day. In a year when we grew sales to nearly $50 billion, we are very confident in our goal of TJX becoming an increasingly profitable, $60 billion-plus company.”

Outlook: For the full year Fiscal 2023, TJX expects U.S. comparable store sales to be up 3% to 4% over the 17% U.S. open-only comp store sales increase in Fiscal 2022.

Feb. 22: Macy’s (M)

Earnings: Net income was $742 million. Adjusted diluted earnings per share were $2.45. Diluted earnings per share were $2.44.

Sales: Net sales were $8.67 billion.

CEO Comments: “Our results in the fourth quarter delivered a strong end to a solid year. I am proud that Macy’s, Inc. outperformed expectations on both the top and bottom lines every quarter in 2021, despite COVID-19 related disruptions, supply chain issues, labor shortages and elevated inflation,” said CEO and chairman Jeff Gennette. “Our business has momentum and is serving more customers at more touchpoints in their shopping journey.”

Outlook: Macy’s raised its full-year guidance and expects net sales to be between $24.46 billion and $24.7 billion.

Feb. 16, 2022: Crocs, Inc. (CROX) reported its fourth quarter and full year 2021 financial results.

Earnings: Income from operations increased 147.5% to $160.0 million in Q4. Income from operations increased 219.0% for the full year to $683.1 million from $214.1 million last year.

Sales: Revenues were $586.6 million in Q4, an increase of 42.6% from the same period last year. And revenues of $2.3 billion increased 66.9% for the full year, or 65.2% on a constant currency basis over 2020.

CEO Comments: “A strong 2021 holiday season completed a very successful year for our brand. We achieved incredible results with record revenues of $2.3 billion, 67% revenue growth and industry-leading 30% operating margin,” said Andrew Rees, CEO of Crocs. “Our fourth straight year of revenue growth was fueled by continued strong consumer demand for the Crocs brand globally. We are excited about our sustainable growth trajectory for both the Crocs and HeyDude brands and are confident in our plan to grow to $6 billion in revenues by 2026.”

Outlook: Crocs predicts revenues to be approximately $605 to $630 million, implying approximately 31% to 37% growth compared to first quarter 2021 revenues of $460.1 million.

Feb. 16, 2022: Mytheresa (MYTE) reported second quarter earnings for fiscal 2022.

Earnings: Adjusted net income of €18.9 million, or $21.4 million at current exchange, as compared to €14.8 million in the prior year period, or $16.8 million.

Sales: Net sales increase of 18.3% year-over-year to €187.6 million, or $212 million.

CEO Comments: “Furthermore, we are gaining traction as a top of mind shopping destination for luxury consumers in the United States, where we see strong growth quarter after quarter. There is a void in the US retail landscape for a true luxury retail player and consumers are leaning into Mytheresa to help fill that void. We are excited to reach an increasing number of customers across the US with particular strength in Florida, Texas and California which are emerging as major markets for luxury demand. We see a long runway for Mytheresa growth in the US,” said Michael Kliger, CEO of Mytheresa.

Outlook: The retailer is raising its guidance for fiscal 2022. Net sales are now projected to be €720 million, up from €700 million. And gross profit is now expected at €365 million up from €350 million, representing a 22% to 27% growth.

Feb. 11, 2022: Under Armour (UA)

Earnings: Net income was $110 million, with an adjusted net income of $67 million. Diluted earnings per share were $0.23. Adjusted diluted earnings per share were $0.14.

Sales: Revenue was up 9% year over year to $1.5 billion.

CEO Comments: “The final quarter of 2021 demonstrated the power and consistency of Under Armour’s strategic playbook, which allowed us to capitalize on improving brand strength and consumer demand,” said Under Armour President and CEO Patrik Frisk. “By staying hyper-focused on operational excellence and serving the needs of athletes, we were able to deliver record revenue and earnings results for the full year.”

Outlook: Under Armour expects revenue to increase at a mid-single-digit rate.

Feb. 10, 2022: Tapestry (TPR), the parent to Coach, Kate Spade New York and Stuart Weitzman, reported Q2 results.

Earnings: Net income in Q2 was $318 million on a reported basis. Earnings per diluted share were $1.15.

Sales: Revenue grew 27% year over year.

CEO Comments: “We delivered record sales this holiday quarter, highlighted by an inflection at Kate Spade, ongoing momentum at Coach, and a return to pre-pandemic revenue levels at Stuart Weitzman,” said CEO Joanne Crevoiserat.

Outlook: Tapestry raised its outlook and expects revenue of about $6.75 billion in fiscal year 2022.

Notes: Tapestry achieved record revenue for the holiday season this year.

Feb. 10, 2022: Asics Corp. (ASCCF)

Earnings: Gross profit increased 30.8% to ¥199,878 million.

Sales: Net sales increased 22.9% to ¥404,082. Net sales grew by 32% in North America.

Notes: North American sales increased due to high demand for performance running and core performance sports shoes.

Feb. 3, 2022: Columbia Sportswear Company (COLM)

Earnings: The company reported a 66% increase in diluted earnings per share to $2.39, compared to $1.44 in Q4 of 2020.

Sales: Net sales increased 23% to $1,129.7 million, compared to the same quarter last year.

CEO Comments: “In the quarter, robust consumer demand led to results that far exceeded our financial outlook driven by DTC outperformance and a highly favorable full price selling environment, which benefited gross margin. Throughout the season, our Fall 2021 sell-through rates have been outstanding, including the successful global launch of Omni-Heat Infinity,” said chairman, president and CEO Tim Boyle.

Outlook: The company expects 16 to 18 percent net sales growth in 2022.

Feb. 3, 2022: Deckers Brands (DECK) reported earnings for Q3 of fiscal year 2022.

Earnings: Operating income was $293.4 million compared to $328.7 million for the same period last year.

Sales: Revenue increased 10.2% to $1.188 billion compared to $1.078 billion for the same period last year.

CEO Comments: “Our portfolio of brands delivered Deckers’ largest quarter in history, with balanced growth among our direct-to-consumer and wholesale channels and across multiple geographies,” said Dave Powers, president and CEO. “We believe Hoka and Ugg are two of the strongest brands in the footwear industry, which are complimented by our strong operating model and fortified balance sheet. While we have continued to experience unprecedented demand for our brands, we are still navigating a challenging supply chain and pandemic environment. Even with these headwinds, I have great confidence in our organization and its ability to deliver another impressive year while positioning the company for long-term success.”

Outlook: Net sales are now expected to be in the range of $3.03 billion to $3.06 billion for fiscal 2022.

Feb. 3, 2021: Skechers (SKX)

Earnings: Net earnings for the fourth quarter were $402.4 million. Diluted earnings per share were $$2.56. Adjusted diluted earnings per share were $0.43.

Sales: Sales were $1.65 billion, marking a year-over-year increase of 24.4%.

CEO Comments:“Skechers’ focus on delivering signature comfort technology in our products resulted in record 2021 sales,” said CEO Robert Greenberg. “We’re extremely proud of the entire Skechers team and of our partners who worked through the many obstacles last year; unwavering in their dedication to the Skechers brand.”

Outlook: For Q1 of 2022, Skechers expects sales between $1.675 billion and $1.725 billion.

Feb. 3, 2022: Ralph Lauren (RL) reported earnings for Q3 of fiscal year 2022.

Earnings: The company reported adjusted earnings per share of $2.93, excluding restructuring charges. Net income was $218 million, or $2.93 per diluted share on a reported basis.

Sales: Sales for Q1 grew 182% to $1.4 billion, led by North America and Europe.

CEO Comments: “We were pleased to report strong third quarter performance during the important holiday season,” said Patrice Louvet, president and CEO. “Our better-than-expected results across all three regions are a testament to the outstanding work our teams have done to fundamentally reposition our business, elevate our brand and pivot to offense – including in North America, where our turnaround is well underway.”

Outlook: The company raised its outlook for fiscal year 2022 and expects constant currency revenues to grow 39% to 41% on a 53-week basis.

Feb 2, 2022: Capri Holdings (CPRI), parent company to the Michael Kors, Versace and Jimmy Choo brands, reported results for the third quarter.

Earnings: Net income was $322 million, or $2.11 per diluted share, compared to $179 million, or $1.18 per share, in Q3 of 2020. Adjusted net income was $339 million, or $2.22 per diluted share.

Sales: Revenue increased 24% to $1.6 billion.

CEO Comments: “We are especially proud of our performance given the ongoing headwinds caused by the pandemic, including regional restrictions and supply chain challenges,” said John D. Idol, chairman and CEO.  “Capri Holdings results are a testament to the dedication and agility of our teams across the globe.”

Outlook: The company raised its full year guidance and now expects a total revenue of about $6.1 billion.

January 28, 2022: VF Corp. (VFC), which includes the Vans, The North Face, Supreme, and Timberland brands, among others.

Earnings: Earnings per share from continuing operations was $1.32. Adjusted earnings per share grew 45% to $1.35.

Sales: Revenue grew 22% to $3.6 billion. Excluding acquisitions, revenue increased 15%.

CEO Comments:  “The broad-based momentum across our brands is testament to the resilience of our diversified portfolio model, which has enabled us to deliver a strong quarter and reaffirm our full year earnings outlook in a challenging environment. I am confident that VF remains well-positioned for continued, profitable, long-term growth,” said Steve Rendle, VF’s Chairman, President and CEO.

Outlook: VF Corp. expects revenue to grow at around 28% and hit at least $11.85 billion, including $600 million from the Supreme brand.

January 27, 2022: Dr. Martens Plc (DOCS)

Sales: Revenue was up 11% to £307 million, or $412 million at current exchange.

CEO Comments: “We delivered a good performance during our largest quarter, with direct to consumer revenues growing 33% versus Q3 last year to 64% revenue mix. We remain confident in achieving market expectations for the full year and I would like to thank everyone at Dr. Martens for their exceptional hard work and dedication,” said CEO Kenny Wilson in a statement.

Outlook: The company remains confident in achieving market expectations for its first full year as a listed business, subject to no significant COVID impact in Q4.

January 26, 2022: Levi Strauss & Co. (LEVI)

Earnings: Net income in Q4 was $153 million; adjusted net income was $170 million, up from $81 million in Q4 2020 and $108 million in Q4 2019. Net income for the full year was $554 million; Adjusted net income was $601 million, up from $84 million in 2020 and $456 million in 2019.

Sales: Net revenue in Q4 was $1.7 Billion, up 22% versus Q4 2020; up 7% versus Q4 2019. Net revenue for the full year was $5.8 Billion, up 29% versus 2020; flat versus 2019.

CEO Comments: “We had a strong finish to 2021 and I can confidently say that we are a stronger company than ever before,” said Chip Bergh, president and CEO of Levi Strauss & Co. “Today’s results reflect robust financial performance, marked by sequential improvement through the year, despite navigating ongoing business disruption from the pandemic. Through it all, we have stayed focused on our future and our momentum continues to accelerate into 2022.”

January 20, 2022: Puma SE (PUMSY:OTC US) released preliminary results for Q4

Earnings: Earnings before interest and taxes (EBIT) grew to € 65 million.

Sales: Sales increased by 14% on a currency adjusted basis to € 1.77 billion ($2.01 billion).

Quick notes: Puma’s final full-year results will be published on Feb. 23, 2022.

December 20: Nike (NKE)

Earnings: Net income was $1.3 billion, up 7%. Diluted earnings per share was $0.83, up 6%.

Sales: Revenues were $11.4 billion, up 1% year over year.

CEO Comments: “NIKE’s strong results this quarter provide further proof that our strategy is working, as we execute through a dynamic environment,” said John Donahoe, president and CEO, of Nike Inc. “We are now
in a much stronger competitive position today than we were 18 months ago. And I want to thank our roughly 75,000 global teammates for all their work to provide consumers with the compelling new product, innovation and experiences that only Nike can deliver.”

December 10: Academy Sports + Outdoors (ASO)

Earnings: GAAP net income was $161.3 million. Diluted earnings per share were $1.99, marking a decline from $2.25 per share due to an increase in shares and higher federal income tax.

Sales: Net sales increased 18.1% to a Q3 record of $1.59 billion.

CEO Comments: “The Academy Sports + Outdoors team did a great job again delivering our 9th consecutive quarterly sales and profit increase,” said chairman and CEO Ken Hicks. “We are confident that our strong assortment and value offering, coupled with our great store service, enhanced omnichannel capabilities, and resilient supply chain will enable Academy to continue to achieve excellent results through this holiday season and beyond.”

Outlook: Academy raised its full year outlook and expects a net income of between $638 million and $647 million.

December 9: Lululemon Athletica Inc. (LULU)

Earnings: Gross profit increased 32% to $829.4 million.

Sales: Net revenue increased 30% to $1.5 billion.

CEO Comments: “Our third quarter results demonstrate the ongoing strength of Lululemon and the tremendous growth potential of the business in both the near- and long-term,” said Lululemon CEO Calvin McDonald in a statement. “We are pleased with our early holiday season performance and how the Lululemon brand continues to resonate in markets around the world. We are energized by the exciting opportunities ahead, and I’m proud of our teams across the globe for their passion and agility – I want to thank everyone for delivering a strong quarter.”

Outlook: The company expects net revenue to be in the range of $2.125 billion to $2.165 billion, while diluted earnings per share are expected to be in the range of $3.24 to $3.31.

December 9: Dr. Martens Plc (DOCS)

Earnings: Profit before tax was up 46% to £61.3 million, or $80.89 million at current exchange.

Sales: Revenue was up 16% to £369.9 million, or $487.9 million.

CEO Comments: “Our strong performance in the first half is testament to the strength of our business model, the under penetration of our brand globally, our agility in adapting to changing conditions and the passion and dedication of our people,” said CEO Kenny Wilson in a statement. “We continue to take a long-term custodian approach to growing the brand, prioritising DTC channels and our seven priority markets.”

Outlook: From fiscal year 2023 and over the medium-term, the company continues to anticipate mid-teens revenue growth and are targeting e-commerce to grow to at least 40% mix, with total DTC, including retail, to at least 60% mix, together with a medium-term target of a 30% EBITDA margin.

December 7: Stitch Fix, Inc. (SFIX)

Earnings: Net loss of $1.8 million, with diluted loss per share of $0.02.

Sales: Net revenue increased 19% to $581.2 million, year over year.

CEO Comments: “These quarterly results reflect a strong performance in our business from both Fix and Freestyle,” said Stitch Fix CEO Elizabeth Spaulding in a statement. “With the launch of Stitch Fix Freestyle we are expanding and broadening our offering, and we are excited to continue to enhance the experience for clients through the introduction of new product features and expanded merchandise selections, increasing the number of purchase occasions we serve. Overall, we are pleased with the important progress we are making towards our vision of becoming the global destination for personal shopping.”

Outlook: The personal styling service expects year-over-year net revenue growth at a high single-digit rate and adjusted EBITDA margin to be between 1% and 2%.

December 7: Designer Brands Inc. (DBI)

Earnings: Net income was $80.2 million, or $1.04 diluted earnings per share.

Sales: Net sales increased 30.7% to $853.5 million in the third quarter of fiscal 2021 compared to the same period last year.

CEO Comments: “We continue to see strength in our key assortment distortion areas including athletic and athleisure, kid’s, and men’s, all powered by the Top 50 Brands in footwear, as well as a return to growth in our vertical brands,” said Designer Brands CEO Roger Rawlins in a statement. “This drove record-setting margin expansion in the third quarter and our expectation is that these areas will continue to drive our long-term margin profile with these shifts being a permanent part of our go-forward model.”

Outlook: Consolidated net sales are expected to be flat to up low-single digits compared to the fourth quarter of fiscal 2019.

December 3: Hibbett (HIBB)

Earnings: Net income was $25.2 million, or $1.68 per diluted share.

Sales: Net sales increased 25.4% to $1.31 billion compared with $1.04 billion in 2020.

CEO Comments: “Our focused strategy of providing a compelling assortment of highly coveted merchandise coupled with superior customer service and a best-in-class omni-channel platform led to increased traffic, a higher average ticket, and a greater number of items purchased per transaction,” said CEO and president Mike Longo. “The revenue growth and strong profitability we have generated over the past two years provides us with a solid base to continue expanding our reach and will contribute to achieving our long-term goals.”

December 3: Genesco (GCO), which owns Journeys, Johnston & Murphy, and Schuh.

Earnings: Net income $32.9 million, or $2.25 per share.

Sales: Net revenue increased 25% to $601 million from $479 million in the same quarter last year.

CEO Comments: “We were especially pleased with the performance of our stores, as sales in our current fleet were up for the first time since prior to the pandemic,” stated Genesco President and CEO Mimi E. Vaughn. “The improvement in traffic trends bolsters our view that teens like to shop in person, making our stores strategic assets that work in tandem with our digital capabilities, serving our customers whenever and wherever they choose to engage with our brands. We entered the pandemic in a position of strength, are navigating the pandemic well, and believe we will enter the post pandemic phase even stronger.”

Outlook: Genesco expects sales to be up between 9% to 11%, compared to 2020.

November 30: Allbirds (BIRD)

Earnings: Gross profit increased 36% to $33.9 million compared Q3 of 2020. GAAP net loss was $13.8 million, or $0.25 per basic and diluted share.

Sales: Net revenue rose 33% to $62.7 million compared to Q3 of 2020 and grew 40% compared to Q3 2019.

CEO Comments: “We are pleased to deliver strong third quarter performance, which reflects solid execution by our teams and robust global demand for the Allbirds brand,” said Joey Zwillinger, Allbirds co-founder and Co-CEO. “Revenue was strong across channels and geographies, growing 33% year over year, with notable strength in U.S. physical retail. Importantly, we saw strong consumer response in the quarter to our new product innovation, including our new Perform Apparel line.”

Outlook: Allbirds expects net revenue of between $270 million and $272 million, or growth between 23% and 24% compared to 2020.

November 23: Nordstrom (JWN)

Earnings: Net earnings were $64 million, or $0.39 per diluted share.

Sales: Sales increased 18% year over year to $3.64 billion.

CEO Comments: “In the third quarter, we made continued progress toward our strategic and financial goals, driven by strong digital growth, the integrated capabilities enabled by our Market Strategy and increased net sales in our Nordstrom banner stores, but we are focused on accelerating our transformation and improving results,” said CEO Erik Nordstrom.

Outlook: Nordstrom maintained its full year outlook and expects revenue growth to be more than 35%.

Notes: Sales at Nordstrom Rack decreased 8% versus 2019.

November 23: Dick’s Sporting Goods (DKS)

Earnings: Net income was $316.5 million, or $2.78 per diluted share.

Sales: Net sales for for Q3 increased 13.9% year-over-year to $2.75 billion.

CEO Comments: “We are extremely pleased to announce a record third quarter in which we delivered significant sales and earnings growth over both last year and 2019. Consumer demand remained strong, and our differentiated product assortment continued to drive exceptional sales and merchandise margin momentum. I’d like to thank all of our teammates for their hard work and commitment to DICK’S Sporting Goods, which helped make this performance possible,” said Lauren Hobart, President and Chief Executive Officer. “Our fourth quarter is off to a strong start, and we are pleased to increase our full year outlook for the third time this year. Looking ahead, we remain very confident in the longer-term prospects of our business.”

Outlook: The company raises its full year 2021 outlook and expects sales of between $12.12 billion and $12.19 billion and between $14.60 and $14.80 per share.

November 19: Foot Locker Inc. (FL), which includes the Eastbay, Foot Action, Champs, and Sidestep brands.

Earnings: Net income was $158 million, or $1.52 per share.

Sales: Total sales were $2.19 billion, marking a year-over-year increase of 3.9%. 

CEO Comments: “The third quarter was another period of strong performance for our Company that reflects the powerful connectivity we have built with our customers,” said Richard Johnson, chairman and CEO. “These impressive top and bottom-line results were against a robust back-to-school season from last year and in spite of the ongoing supply chain challenges. On top of that, we successfully completed the acquisition of WSS in the third quarter, and subsequently closed the atmos transaction as well, welcoming both of these great teams to the Foot Locker, Inc. family.”

November 18: Caleres (CAL), which owns Famous Footwear, Sam Edelman, Vince, Dr. Scholl’s Shoes, and more brands.

Earnings: Adjusted net income was about $59.6 million, with earnings per diluted share of $1.54.

Sales: Net sales were $784.2 million, up 21.1% from Q3 of 2020.

CEO Comments: “Caleres achieved another record performance in the quarter just ended, driven principally by continued, exceptional upward momentum in our Famous Footwear business,” said Diane Sullivan, Chairman and Chief Executive Officer. “As robust consumer demand dynamics continue to accelerate, we fully expect the ongoing recovery in the Brand Portfolio to be an increasingly strong complement to the ongoing success at Famous Footwear in the quarters ahead.”

Outlook: The company expects record adjusted earnings per share for fiscal year 2021 of between $3.80 and $3.90.

November 18: Macy’s (M)

Earnings: Net income was $239 million. Adjusted diluted earnings per share were $1.23. Diluted earnings per share were $0.76.

Sales: Net sales were $5.4 billion.

CEO Comments: “Our company delivered another strong quarter and exceeded our expectations on both top and bottom lines. The results were driven by the effective execution of the Polaris strategy and an improved economic environment,” said Jeff Gennette, chairman and CEO of Macy’s, Inc. “Looking ahead to the fourth quarter, we remain a special place for holiday shopping, and our robust omnichannel ecosystem is showing resilience in the face of labor and supply chain challenges and enables us to meet customer shopping needs with speed and convenience.”

Outlook: Macy’s raised its full-year guidance and expects net sales to be between $24.12 billion and $24.28 billion.

November 18: Kohl’s (KSS)

Earnings: Q3 diluted earnings per share were $1.65.

Sales: Revenue was $4.6 billion.

CEO Comments: “Our strategic efforts to transform Kohl’s into the leading destination for the active and casual lifestyle continue to build momentum. We delivered another quarter of record earnings with both sales and margins exceeding expectations. During the quarter, we drove accelerated growth in Active and successfully launched several new brand partnerships, including the initial rollout of 200 Sephora at Kohl’s stores, which are off to a great start,” said Michelle Gass, Kohl’s CEO.

Outlook: Kohl’s raised its full year 2021 outlook and expects net sales to increase in the mid-twenties percentage range.

November 18: Alibaba Group Holding Ltd. (BABA)

Earnings: Diluted earnings per share were RMB0.25 (US$0.04 or HK$0.30) for its fiscal Q2 ended Sept. 30. Non-GAAP diluted EPS were RMB1.40 (US$0.22 or HK$1.68), a decrease of 38% year-over-year.

Sales: Total revenue for the company was RMB200.7 million (US$31.1 million), an increase of 29% year-over-year. Its international retail and wholesale divisions pulled in sales of RMB15.1 million (US$2.3 million), up 34% year-over-year.

CEO Comments: “Our global annual active consumers across the Alibaba ecosystem reached approximately 1.24 billion, with a quarterly net increase of 62 million consumers, and we are on track to achieve our longer-term target of serving 2 billion consumers globally,” said Daniel Zhang, chairman and CEO of Alibaba Group.

Outlook: The company revised its fiscal year 2022 revenue guidance due to the current macroeconomic environment, predicting sales to grow 20% to 23% year-over-year.

November 17: Target (TGT)

Earnings: Q3 GAAP earnings per share was $3.04, up 51.6% from 2020. Q3 adjusted EPS was $3.03, reflecting an 8.7% growth compared to 2020.

Sales: Third quarter total revenue was $25.7 billion, growing 13.3% compared to last year. Total sales grew 13.2%.

CEO Comments: “The consistently strong growth we’re seeing in our business, quarter after quarter, is a testament to the passion and commitment our team brings to serving our guests, and the trust we’ve built with them as a result,” said Brian Cornell, chairman and CEO of Target.

Outlook: Target expects high single digit to low-double digit growth in comparable sales for Q4.

November 17: TJX Companies Inc. (TJX), parent to Marshalls, T.J. Maxx, and Home Goods

Earnings: Diluted earnings per share were $.84, up 24% over earnings per share of $.68 in Q3 2020.

Sales: Net sales were $12.5 billion, marking a year-over-year increase of 24%.

CEO Comments: “We feel great about our ability to deliver customers an exciting mix of gift-giving merchandise and amazing brands and values throughout the holiday selling period. We are in an excellent inventory position, with most of the product needed for the holiday season either on hand or scheduled to arrive at our stores and online in time for the holidays. We are very confident in our ability to continue to gain market share, improve our profitability in the medium to long term, and reach our strategic vision of TJX becoming a $60 billion company,” said Ernie Herrman, CEO and president of TJX.

November 17: Shoe Carnival (SCVL)

Earnings: Quarterly net income was $46.8 million. Diluted net income per share was $1.64.

Sales: Net sales were $356.3 million. Comparable store sales for Q3 increased 30.1%.

CEO Comments: “This was by every measure that matters, our best quarter, of our best year, in our 43-year history,” said President and CEO Mark Worden. “We are thankful to our millions of customers and over 5,000 team members for once again making us a Billion Dollar Brand, as we aim to become a multibillion dollar retailer in the years ahead.”

Outlook: Shoe Carnival expects diluted net income per share between $5.00 abd $5.10 and net sales between $1.285 billion and $1.290 billion for fiscal 2021.

The storefront of Walmart in Los Angeles, California on August 18, 2020.November 16 : Walmart (WMT)

Earnings: Adjusted earnings per share was: $1.45.

Sales: Total revenue was $140.53 billion, up 4.3%. Walmart US comp-store sales were up 9.2%.

CEO Comments: “Our momentum continues with strong sales and profit growth globally. Our omnichannel focus is pushing digital penetration to record levels. We gained market share in grocery in the U.S., and more customers and members are returning to our stores and clubs around the world. Looking ahead, we have the people, the products, and the prices to deliver a great holiday season for our customers and members,” said Walmart president and CEO Doug McMillon.

Outlook: Walmart raised its outlook and expects US comp sales above 6%.

November 16: On (ONON)

Earnings: Net income increased to CHF 13.0 million from CHF 8.1 million.

Sales: Net sales grew by 68% in Q3 2021 to CHF 218.0 million and by 77% in the first nine months of 2021.

CEO Comments: “The third quarter of 2021 has been the strongest in the history of the Company in terms of net sales, gross profit, and adjusted EBITDA. We are thankful for the relentless work of our team during the pandemic to achieve this. Consumer demand for the On brand is accelerating across the globe, evident by the fact that our wholesale and direct-to-consumer sales channels, geographic regions, and product groups have all contributed significantly to our strong growth of 68% for the quarter and 77% for the first nine months,” said Martin Hoffmann, Co-CEO and CFO of On.

Outlook: For fiscal year 2021, On expects net sales of CHF 710.0 million and adjusted EBITDA of CHF 92.0 million.

November 11: Tapestry (TPR), the parent to Coach, Kate Spade New York and Stuart Weitzman, reported Q1 results.

Earnings: Net income in Q1 was $227 million on a reported basis. Earnings per diluted share were $0.80.

Sales: Revenue grew 26% year over year.

CEO Comments: “We delivered another quarter of solid performance, reflecting strong customer engagement and increased demand for our brands,” said CEO Joanne Crevoiserat.

Outlook: Tapestry expects revenue of about $6.6 billion in fiscal year 2022.

November 10: Adidas (ADDYY)

Earnings: Net income reached € 479 million.

Sales: Revenue grew 3% to € 5.752 billion

CEO Comments: “Adidas performed well in an environment characterized by severe challenges on both the supply and demand side,” said CEO Kasper Rorsted. “As a consequence of successful product launches we are experiencing strong top-line momentum in all markets that operate without major disruption. Double-digit growth in our direct-to-consumer businesses in EMEA, North America and Latin America is a testament to the strong consumer demand for our products. At the same time, we are navigating through the current world-wide supply chain constraints. Despite all challenges, we are on track to delivering a successful first year within our new strategic cycle.”

Outlook: Adidas expects sales to grow 20% with net income expected to reach on the lower end between € 1.4 and € 1.5 billion.

November 10: Wolverine Worldwide Inc. (WWW), which includes the Saucony, Sperry, are Merrell brands, among others.

Earnings:Reported diluted earnings per share were $0.00, compared to reported diluted earnings per share of $0.27 in the prior year. Adjusted diluted earnings per share were $0.62.

Sales: Reported revenue was up 29.1% at $636.7 million versus 2020 and up 28.2% on a constant currency basis.

CEO Comments: “The Company delivered strong double-digit revenue growth and exceptional earnings leverage, despite the increased supply chain disruption caused by Vietnam factory closures and global logistics delays” said CEO Blake Krueger. “Merrell was hit hardest by Vietnam factory closures but still delivered mid-single-digit growth. Saucony and Sperry both drove over 40% revenue growth. The unplanned supply chain disruptions resulted in at least a $60 million negative revenue impact in Q3.”

Outlook: The company expects full year 2021 revenue to be about $2.4 billion, representing a growth of 35% compared to 2020.

November 8: ThredUp (TDUP)

Earnings: Gross profit grew 41% year-over-year to $46.1 million.

Sales: Revenues grew 35% year-over-year to $63.3 million.

CEO Comments: “Third-quarter marked another quarter of exceptional financial performance, with our platform demonstrating strong resilience amidst headwinds posed by the pandemic,” said James Reinhart, CEO and cofounder. “Supply continues to appear endless, demand for secondhand is increasing with more first-time buyers trying ThredUp, and we’re doubling down on infrastructure investments so we can continue providing our buyers with a vast and ever-changing selection of great brands at great prices.”

Outlook: For fiscal year of 2021, ThredUp expects revenue between $248 million and $250 million and gross margin of about 71%.

Quick Notes: ThredUp is continuing its international expansion through its recent acquisition of Remix, a top European reseller.

November 8: Brooks Running, the athletic brand that’s a subsidiary of Berkshire Hathaway Inc. (BRK-A)

Sales: In the third quarter, revenue grew 24% year over year. The brand said gains were led by the Adrenaline GTS, Ghost and Glycerin franchises, which were up 50% versus 2020.

CEO Comments: “More than 20 years ago, we made a big bet that if we put the runner at the center of everything we do — delivering the product they need and then celebrating the many reasons they run and the positive energy they get from it — we could become a leading brand in run,” said Jim Weber, CEO at Brooks.

Quick Notes: Brooks acknowledged that supply chain disruptions affected its ability to meet demand in the quarter, and it predicted continued impacts through Q2 2022.

November 3: Revolve Group Inc. (RVLV), which owns Revolve and FWRD

Earnings: Net income was down 14% year over year to $16.7 million but up 74% compared to 2019. Diluted EPS was $0.22, down 19% year over year. Decreases in earnings were a result of increased investment in brand marketing initiatives in Q3, the company said.

Sales: Net sales were $244.1 million, up 62% year over year.

CEO Comments: ”Our third quarter results reinforce our conviction that our competitive strengths will enable us to continue to thrive as we transition to a post-pandemic world,” said co-founder and co-CEO Michael Mente. “Our current momentum and the strength of our brands is broad based across both REVOLVE and FWRD.”

Quick Notes: Kendall Jenner was announced as FWRD’s Creative Director earlier this year, which the company believes will help the brand reach more generations of luxury consumers.

November 3: Steve Madden (SHOO)

Earnings: Net income was $66.6 million, or $0.82 per diluted share.

Sales: Revenue increased 52.4% to $528.7 million compared to $346.9 million in 2020.

CEO Comments: “In the third quarter, we delivered the highest quarterly sales and earnings in our history, as the trend-right merchandise assortments created by Steve and his design teams continue to drive strong consumer demand for our brands and products,” said chairman and CEO Edward Rosenfeld. “Our retail segment was again the standout, with outstanding results in both digital and brick-and-mortar channels, and our wholesale business showed strong sequential improvement and is poised to return to growth in the fourth quarter compared to 2019.”

Outlook: Steve Madden raised its guidance for fiscal year 2021 and expects revenue to increase 50% to 52% over fiscal year 2020, with diluted EPS between $2.21 and $2.26 and adjusted diluted EPS between $2.30 and $2.35.

November 3: Capri Holdings (CPRI), parent company to the Michael Kors, Versace and Jimmy Choo brands, reported results for the second quarter.

Earnings: Net income was $200 million, or $1.30 per diluted share, compared to $122 million, or $0.81 per share, in Q2 of 2020. Adjusted net income was $235 million, or $1.53 per diluted share.

Sales: Revenue increased 17% to $1.3 billion.

CEO Comments: “This performance reflects the power of Versace, Jimmy Choo and Michael Kors as well as the execution of our strategic initiatives,” said John D. Idol, chairman and CEO. “Capri Holdings strong results are a testament to the dedication, resilience and agility of the entire team across the globe.”

Outlook: The company raised its full year guidance and now expects a total revenue of about $5.4 billion.

November 2: Under Armour (UA)

Earnings: Net income was $113 million, with an adjusted net income of $145 million. Diluted earnings per share were $0.24. Adjusted diluted earnings per share were $0.31.

Sales: Revenue was up 8% year over year to $1.5 billion.

CEO Comments: “Our third-quarter results were driven by strong demand for the Under Armour brand and our ability to execute quickly to meet the needs of our consumers and customers,” said Under Armour president and CEO Patrik Frisk. “With industry-leading innovations, increased marketing efforts to deepen our connection with Focused Performers, and consistent operational discipline – we’re building greater brand affinity and are on track to deliver record revenue and earnings results in 2021.”

Outlook: Under Armour raised its outlook and expects revenue to be up about 25% for the full year.

October 28: Deckers (DECK), which includes the Ugg, Hoka One One, Teva, and Sanuk brands, among others. Deckers reported earnings for Q2 of fiscal year 2022.

Earnings: Diluted earnings per share was $3.66 compared to $3.58 last year.

Sales: Revenue increased 15.8% to $721.9 million

CEO Comments: “Deckers robust first half growth when compared to both the prior year and two years ago, reflects the increasing global footprint of HOKA, and the UGG brand’s evolution beyond women’s footwear,” said Dave Powers, President and CEO. “While we experienced global supply chain challenges during the quarter, we have confidence in our year, and we are aggressively pursuing market share with our in-demand brands by leaning on our global omni-channel organization. We believe that our nimble operations will navigate this dynamic environment and allow our brands to execute Deckers successful long-term strategies.”

Outlook: Deckers expects earnings per share in between $14.15 and $15.15.

Quick notes: Hoka brand net sales grew 47.0% to $210.4 million in Q2 compared to $143.1 million for the same period last year.

August 2: Columbia Sportswear Company (COLM)

Earnings: The company reported a 62% increase in diluted earnings per share to $1.52, compared to $0.94 in Q3 of 2020.

Sales: Net sales increased 15% to $804.7 million, compared to the same quarter last year.

CEO Comments: “Our third quarter results reflect high consumer demand for our products and strong operating performance amidst unprecedented supply chain challenges,” said chairman, president and CEO Tim Boyle. “Despite delayed inventory receipts which impacted U.S. wholesale shipments, favorable gross margin performance and expense management fueled above plan earnings.”

Outlook: The company now expects net sales between $3.04 and $3.08 billion and diluted earnings per share between $4.55 and $4.80.

October 28: Skechers (SKX)

Earnings: Net earnings were $103.1 million. Diluted earnings per share were $0.66 each, up 61.0% from last year.

Sales: Sales were $1.55 billion, marking a year-over-year increase of 19.2%.

CEO Comments: “Our accomplishments were many during the quarter—including remaining the third largest athletic footwear company in the world and achieving a new quarterly sales record for the period,” said Robert Greenberg, CEO of Skechers. “That said, we believe the best is yet to come for Skechers.”

Outlook: For fiscal year 2021, Skechers expects sales between $6.15 billion and $6.20 billion and diluted EPS between $2.45 and $2.50.

October 27: eBay (EBAY) 

Earnings: GAAP and Non-GAAP EPS per diluted share were $0.43 and $0.90, respectively. GAAP net income was $283 million, or $0.43 per diluted share.

Sales: Revenue was $2.5 billion, up 11% on an as-reported basis and up 10% on a foreign exchange neutral basis.

CEO Comments: “Our team delivered another strong quarter, once again meeting or surpassing our expectations for all key business metrics, making further progress on our multi-year strategy,” said CEO Jamie Iannone. “Our Q3 results, driven by the near completion of our managed payments migration, expansion of our advertising portfolio, and volume growth in our focus categories, demonstrate that our strategic playbook continues to work. I’m proud that we’ve been able to increase customer satisfaction, build trust, and drive steady innovation, all while continuing to set and make progress toward our ambitious goals tied to climate action.”

October 27: Puma SE (PUMSY:OTC US)

Earnings: Net earnings increased to € 144 million, with earnings per share of € 0.96.

Sales: Sales increased by 20% on a currency adjusted basis to € 1,900 million

CEO Comments: “The third quarter was another very strong quarter for us,” said Puma CEO Bjørn Gulden. “Despite a lot of operational problems, we grew our sales by 20% and were able to increase our EBIT from € 190 million to € 229 million in the quarter.”

Outlook: The company raised its outlook for 2021 and expects 2021 currency-adjusted sales to increase by at least 25%, up from a previous projection of 20%.

Quick notes: Puma’s growth was led by North America and Latin America.

Oct. 22: VF Corp. (VFC), which includes the Vans, The North Face, Supreme, and Timberland brands, among others.

Earnings: Earnings per share from continuing operations was $1.18. Adjusted earnings per share from continuing operations increased 66% to $1.11.

Sales: Revenue grew 23% to $3.2 billion. Excluding acquisitions, revenue increased 19%.

CEO Comments:  “As we move through the halfway point of our fiscal year, I remain encouraged by the underlying momentum across the portfolio, and the broad-based nature of this strength gives me confidence that we are driving the right strategy to accelerate growth in the quarters ahead,” said Steve Rendle, VF’s Chairman, President and CEO.

Outlook: VF Corp. maintained its full year outlook for fiscal year 2022 and expects revenue to grow at least 30% and hit at least $12 billion, including $600 million from the Supreme brand.

Notes: VF Corp. missed revenue expectations from analysts surveyed by Yahoo News. 

October 21: Crocs (Crox)

Earnings: Net income for the quarter was $153.49 million, with an adjusted diluted earnings per share of $2.47 compared to $0.94 for the same period last year.

Sales: Revenue was $625.9 million, marking an increase of 72.2% on a constant currency basis compared to 2020.

CEO Comments: “Globally, our teams are managing through the supply chain disruptions to mitigate the impact on our business,” said Crocs CEO Andrew Rees. “Despite the temporary disruptions, we expect 2022 revenues to grow over 20% from 2021 fueled by the strength of our brand and consumer demand globally.”

Outlook: Crocs raised its full year outlook and expects revenue growth for 2021 to be between 62% and 65%. For 2022, Crocs expects revenue growth to be more than 20% compared to 2021.

September 30: H&M Group (HNNMY)

Sales: Revenues for the company’s fiscal Q3 ended Aug. 31 increased 14% compared with the same period in 2020. Converted to Swedish kronor, net sales increased by 9% to SEK 55.59 billion (or $6.31 billion at current exchange).

CEO Comments: “Today’s numbers show that the H&M Group’s strong recovery continues. The results are explained by much appreciated collections, lower markdowns and good cost control, combined with the initiatives implemented in areas such as … supply chain. As restrictions have been eased in many markets, store sales have started to pick up again and online sales have continued to grow,” said CEO Helena Helmersson.

See below for earnings from the previous earnings season:

September 14: JD Sports Fashion Plc (JD.L), which owns Shoe Palace Corp., Finish Line, DTLR Villa LLC., and more released results for the first half of the year.

Earnings: Pre-tax profit for the first half of the year was £364.6 million, or $505.88 million, compared with £41.5m,or about $57 million from the same time a year ago.

Sales: Revenues grew 52% to £3.89 billion, or $5.4 billion.

Executive Comments: “We remain absolutely confident that our inherent strengths in retail dynamics and operations provide us with a robust platform to make further progress,” said Executive Chairman Peter Cowgill.

September 9: Academy Sports + Outdoors (ASO)

Earnings: Net income was $190.5 million compared to $167.7 million. Diluted earnings per share were $1.99, marking a decline from $2.25 per share due to an increase in shares and higher federal income tax.

Sales: Net sales increased 11.5%, reaching a record quarterly high of $1.79 billion.

CEO Comments: “The Academy Sports + Outdoors team delivered the best quarterly financial results in the Company’s history as we surpassed the very strong store comparables from last year,” said chairman and CEO Ken Hicks. “We plan to build on this continued success by further sharpening our focus on the fundamentals of the business and investing in our strategic initiatives with the goal of adding new customers, gaining market share and driving sales and profit growth.”

Outlook: The company increased its guidance and expects net income between $525 million and $560 million in 2021.

September 8: Lululemon Athletica Inc. (LULU)

Earnings: Net income was $208 million, Diluted earnings per share were $1.59. Adjusted diluted earnings per share were $1.65.

Sales: Net revenue increased 61% to $1.5 billion.

CEO Comments: “Our second quarter results demonstrate the continued momentum across the business, and how we are living into our Power of Three growth plan and Impact Agenda commitments,” CEO Calvin McDonald said. “We launched exciting new products, experienced strength across channels and geographies, and announced new partnerships that will allow us to become a leader in product sustainability.”

Outlook: The company expects net revenue between $1.400 billion and $1.430 billion for Q3 2021, with diluted earnings per share between $1.28 and $1.33 and adjusted diluted earnings per share between $1.33 and $1.38.

September 2: Genesco Inc. (GCO), which owns Journeys, Journeys Kidz, Schuh, Schuh Kids, Little Burgundy, and Johnston & Murphy.

Earnings: Net income was $10.9 million. GAAP EPS increased to $0.74. Non-GAAP EPS increased to $1.051.

Sales: Net sales increased 42% year-over-year to $555 million.

CEO Comments: “We delivered outstanding second quarter results highlighted by record second quarter profitability for our footwear businesses that far exceeded our expectations. Following a very strong start to Fiscal 2022, our top-line accelerated even further ahead of pre-pandemic levels fueled by robust full-priced selling, as our merchandise offerings, exceptional service and differentiated shopping experiences continue to resonate strongly with consumers,” said board chair, president and CEO Mimi Vaughn.

September 2: American Eagle Outfitters (AEO), which also operates Aerie

Earnings: Net income was $121.5 million, with diluted earnings per share of $0.58.

Sales: Revenue increased 35% to $1.19 billion.

CEO Comments: “It’s extremely gratifying to see significant growth across our business, as we delivered another quarter of record revenue and profitability. Results underscore the strength of our brands, outstanding product and a leading customer experience across selling channels. We are running our business with a laser focus on profitability through inventory and real-estate optimization initiatives and investments to enhance our supply chain,” said CEO and chairman Jay Schottenstein.

Outlook: The company expects to see $600 million in operating income this year, ahead of targets.

August 31: Caleres (CAL), which owns Famous Footwear, Sam Edelman, Vince, Dr. Scholl’s Shoes, and more brands.

Earnings: Adjusted net income was about $46 million, with adjusted earnings of $1.19 per diluted share.

Sales: Net sales were $675.5 million, up 34.7% from the Q2 of 2020.

CEO Comments: “The Caleres team continued to execute at a high level during the quarter, achieving another significant sequential increase in sales and delivering earnings well in excess of pre-pandemic levels,” said CEO and chairman Diane Sullivan. “Complementing Famous Footwear’s outstanding performance, our Brand Portfolio surpassed its operating earnings for the same period of 2019, led by strong and improving earnings results from key leadership and emerging brands, including Vionic, Sam Edelman, Allen Edmonds and Blowfish Malibu.”

Outlook: The company expects adjusted earnings per share of between $1.10 and $1.25 for Q3 and adjusted earnings per share between $3.25 and $3.50 for the full year.

Quick Notes: Caleres’ results were led by “record-setting quarterly results at Famous Footwear,” Sullivan said. This quarter’s earnings for Famous Footwear exceeded earnings for the entire year of 2019, with a more than 80% increase in revenue.

August 31: Designer Brands Inc. (DBI), which owns DSW

Earnings: Net income was $42.9 million, or $0.55 per diluted share.

Sales: Net sales increased 66.9% year-over-year to $817.3 million.

CEO Comments: “Our tremendous second quarter results reflect successful execution on our short-term priorities coupled with our strategy to gain market share in athleisure and kids,” CEO Roger Rawlins. “Our sales results were driven by increased store traffic as we substantially grew our loyal customer base and welcomed core DSW customers back into our stores.”

Outlook: DBI expects adjusted operating income in the second half of fiscal 2021 to be equal to or slightly better than 2019 levels.

August 25: Hibbett (HIBB)

Earnings: Net income was $46.7 million, or $2.86 per diluted share.

Sales: Net sales decreased 5.1% to $419.3 million, but grew 66.1% compared to 2019. Comparable sales decreased 6.4%.

CEO Comments: “Our current year second quarter results were strong and compare favorably to the prior year second quarter that experienced a significant boost from market disruption, pent up demand and the first round of stimulus payments,” said CEO and president Mike Longo. “We believe our significant revenue growth and profitability over the previous two years ago demonstrates that our strategy of delivering a compelling assortment of highly coveted merchandise coupled with superior customer service and a best-in-class omni-channel platform will continue to drive strong top and bottom line performance.”

Outlook: Hibbett raised its outlook and now expects comparable sales in fiscal year 2022 to be in the positive mid-teens compared to last year.

August 25: Burlington Stores, Inc. (BURL)

Earnings: Net income increased 21% to $103 million, or $1.50 per share. Adjusted net income was $133 million, or $1.94 per share.

Sales: Total sales increased 34% compared to the Q2 of 2019 to $2,213 million. Comparable store sales increased 19% compared to Q2 of 2019.

CEO Comments:“We are pleased with our second quarter results, which showed continued strong momentum in sales growth and margin expansion,” said CEO Michael O’Sullivan. “Once again, we demonstrated our improved ability to chase the trend through our Burlington 2.0 strategies. We are getting stronger as a business and as a team.”

August 25: Dick’s Sporting Goods (DKS)

Earnings: Net income was $495.5 million, or $4.53 per diluted share (up 45%).

Sales: Net sales for for Q2 increased 20.7% year-over-year.

CEO Comments: “Our record-breaking quarterly sales and earnings significantly exceeded our expectations, reflecting continued strong consumer demand across our diverse category portfolio along with the strength of our omni-channel offering and elevated athlete experience. I’d like to thank all our teammates for how they delivered against our core strategies and for their commitment to DICK’S Sporting Goods, which helped make this performance possible,” said CEO and president Lauren Hobart. “Based on the strength of our business and our expectations for continued strong consumer demand, we are pleased to increase our full year sales and earnings outlook for the second time this year.”

Outlook: The company raises its full year 2021 outlook and expects earnings per diluted share between $11.00 and $11.45 and non-GAAP earnings per diluted share between $12.45 and $12.95.

August 25: Shoe Carnival (SCVL)

Earnings: Quarterly net income was $44.2 million. Diluted net income per share was $1.54.

Sales: Net sales were $332.2 million. Comparable store sales for Q2 increases 11.4%

CEO Comments: “Our best in class merchandising strategy, innovative store operations and powerful data analytics derived from our CRM program continued to drive outstanding financial results and increases in new customer acquisition,” said CEO and vice chairman Cliff Sifford. “Our business fundamentals are the strongest they have ever been, which gives us the confidence to lean forward and aggressively plan for continued growth through the remainder of the year. I am incredibly proud of our amazing personnel and their unwavering commitment, which is on display seven days a week in all our stores.”

Outlook: Shoe Carnival expects diluted net income per share between $4.35 and $4.50 and net sales between $1.21 billion and $1.23 billion for fiscal 2021

August 24: Nordstrom (JWN)

Earnings: Net earnings were $80 million, or $0.49 per diluted share.

Sales: Sales were to $3.6 billion, marking a 101% increase from Q2 in 2020.

CEO Comments: “Our second quarter results demonstrate the strength of our two brands, the power of our ‘closer to you’ strategy and the success of our iconic Anniversary Sale,” said CEO Erik Nordstrom. “We capitalized on improving customer demand with focused execution, healthy inventory sell-through and continued expense management to deliver strong quarterly results.”

Outlook: Nordstrom updated its full year outlook and expects revenue growth to be more than 35 percent.

August 20: Foot Locker (FL), which includes the Eastbay, Foot Action, Champs, and Sidestep brands.

Earnings: Net income was $430 million, or $4.09 per share. Non-GAAP earnings per share were $2.21, marking an increase of over 200% from Q2 of 2020 and 2019.

Sales: Total sales were $2,275 million, marking a year-over-year increase of 9.5%. Comparable store sales Increased 6.9%

CEO Comments: “Our strong performance this quarter reflects the health of our category, the deep engagement we have with our customers, and the strategic nature of our relationships with our vendor partners,” said chairman and CEO Richard Johnson. “This quarter reflects strong results in our women’s and kids’ footwear business along with broad demand for our apparel and accessories offerings, which combined with more limited promotional activity, led to the outstanding top and bottom line results.”

August 19: Ross Stores (ROST)

Earnings: Earnings per share grew 22% to $1.39 compared to $1.14 per share in 2019.

Sales: Sales rose 21% to $4.8 billion. Comparable store sales were up 15%.

CEO Comments: “We are pleased that both second quarter sales and earnings substantially exceeded our expectations,” said CEO Barbara Rentler. “Sales benefited from customers’ positive response to our broad assortment of great bargains. In addition, our results were bolstered by a number of external factors, including ongoing government stimulus, increasing vaccination rates, and diminishing COVID restrictions.”

Outlook: Ross raised its full year outlook and expects earnings per share to be between $4.20 and $4.38.

August 19: Macy’s (M)

Earnings: Adjusted earnings per share were $1.29. Diluted earnings per share were $1.08.

Sales: Net sales were $5.65 billion versus the expected $5.01 billion.

CEO Comments: “Second quarter results were strong across all three nameplates and surpassed our expectations. Our momentum in the first quarter accelerated in the second quarter as we successfully reengaged core customers and attracted new, younger customers with new brands and categories,” said Jeff Gennette, chairman and CEO. “Through the Macy’s, Inc. portfolio and our omnichannel approach, we provide a compelling, seamless integration between physical stores and digital shopping to most effectively meet the needs of our customers.”

Outlook: Macy’s raised its full-year guidance and expects net sales to be between $23.55 billion and $23.95 billion. 

August 19: Tapestry (TPR), the parent to Coach, Kate Spade New York and Stuart Weitzman, reported Q4 and full year results.

Earnings: Q4 GAAP earnings per share were $0.69. Non-GAAP earnings per share were $0.74.

Sales: Revenue was $1.62 billion, marking a 126% growth year-over-year.

CEO Comments: “We delivered standout results in Fiscal 2021 – a transformational year for Tapestry. Through our Acceleration Program, we sharpened our focus on the consumer, leaned into digital and data and became a more agile organization,” said CEO Joanne Crevoiserat. “We reached customers in new ways and adapted to a rapidly changing environment, fueled by the power of our brands and passionate teams. Importantly, the traction of our strategy is clearly evidenced by our financial performance.”

Outlook: Tapestry expects revenue of about $6.4 billion in fiscal year 2022.

Quick notes: Q4 revenue exceeded pre-pandemic levels.

August 19: Kohl’s (KSS)

Earnings: Q2 diluted earnings per share were $2.48 versus the expected $1.21.

Sales: Net sales increased 31.4%. Revenue was $4.45 billion.

CEO Comments: “Our performance in the second quarter marked another important step in further establishing Kohl’s as the leading destination for the active and casual lifestyle,” said CEO Michelle Gass. “We delivered record second quarter earnings with sales and margins materially exceeding expectations. As pleased as we are with our ongoing strategic progress, much of our opportunity is still ahead of us. We are on the eve of launching several transformational partnerships that will drive sustainable growth for years to come.”

Outlook: Kohl’s raised its full year 2021 outlook and expects diluted earnings per share between $5.80 and $6.10.

August 18: Target (TGT)

Earnings: Q2 GAAP earnings per share was $3.65, up 8.9% from $3.35 in 2020. Q2 Adjusted EPS was $3.64, reflecting a 7.9% growth compared with $3.38 in 2020.

Sales: Second quarter total revenue was $25.2 billion, growing 9.5% compared to last year. Total sales grew 9.4%.

CEO Comments: “In the second quarter, our business generated continued growth on top of record increases a year ago, reinforcing Target’s leadership position in retail,” said Brian Cornell, chairman and CEO of Target. “We’ve spent years building and investing in the durable model we have today, which is supported by a differentiated strategy and the best team in retail.”

Outlook: Target expects high single digit growth in comparable sales for the second half of 2021.

August 18: TJX Companies Inc. (TJX), parent to Marshalls, T.J. Maxx, and Home Goods

Earnings: Diluted earnings per share were $.64, compared to earnings per share of $.62 in Q2 of 2020.

Sales: Net sales were $12.1 billion, marking a year-over-year increase of 23%.

CEO Comments: “Our U.S. and international divisions delivered outstanding double-digit open-only comp store sales increases, as our exciting and eclectic mix of merchandise, great brands and values, and treasure-hunt shopping experience continued to draw customers into our stores around the world. I want to recognize the extraordinary work and dedication of our global Associates across the organization, especially our store and distribution center Associates who are physically coming into work to bring great values to our customers,” said Ernie Herrman, CEO and president of TJX.

August 17: Walmart (WMT)

Earnings: Adjusted earnings per share was: $1.78 compared to estimates of $1.57.

Sales: Total revenue was $141.0 billion, up 2.4%. Walmart US comp-store sales were up 5.2%.

CEO Comments: “We had another strong quarter in every part of our business. Our global eCommerce sales are on track to reach $75 billion by the end of the year, further strengthening our position as a leader in omnichannel,” said Wlmart president and CEO Doug McMillon.

Outlook: Walmart raised its outlook and expects US comp sales of 5% to 6% and global e-commerce sales of $75 billion in fiscal year 2022.

August 13: Fila Holdings Corp.

Earnings: Profits grew 198.2% in Q2

Sales: Sales grew 63.1% to to KRW 1,019,354 million ($909.0 mm). Fila USA sales grew 101.1% to KRW 113,525 million ($97 mm).

Outlook: Acushnet Holdings Corp, the parent of Fila Holdings, beat estimates and reported a sales growth of 108.3%. Acushnet raised 2021 earnings and sales guidance.

August 13: Asics Corp. (ASCCF)

Earnings: Gross profit increased 49.4% to ¥105,448 million.

Sales: Net sales increased 42.6% to ¥209,478. Net sales increased by 51% in North America, driven by performance running sales. 

Comments: “We are proud to continue seeing the ASICS brand and products resonating so well with consumers across categories from running to tennis,” said Richard Sullivan, president and COO of ASICS North America. “The growth across our owned and partner channels has been significant and we will continue to strategically navigate our brand going forward.”

August 11: eBay (EBAY) 

Earnings: Earnings for Q2 will be 86 cents to 90 cents a share.

Sales: Revenue was $2.7 billion, up 14% on an as-reported basis and up 11% on a foreign exchange neutral basis.

CEO Comments: “In Q2, on an apples-to-apples basis, all key business metrics met or exceeded expectations and revenue growth was driven by the acceleration in our payments migration and growth in advertising,” said CEO Jamie Iannone. “During the quarter, we hit several important milestones in our ongoing transformation, including the transition of eBay’s Classifieds business — a deal that has already delivered exceptional shareholder value — and the announcement of the sale of our Korean business.”

Outlook: eBay expects revenues for Q3 to be in the range of $2.42 billion to $2.47 billion.

August 10: ThredUp (TDUP)

Earnings: Gross profit grew 34% from 2020 to a record $44 million.

Sales: Revenues grew 27% year-over-year.

CEO Comments: “ThredUP is pleased to share another strong quarter with a further proofpoint of secondhand’s strength as evidenced by our better-than-expected revenue growth. In addition, our industry-leading infrastructure is reflected by our strong gross margin trends,” said CEO and cofounder James Reinhart.

Outlook: For fiscal year of 2021, ThredUp expects revvenue between $236 million and $241 million and gross margin between 71.5% and 72.5%.

Quick Notes: ThredUp is expanding internationally, with its recent acquisition of Remix, a top European reseller.

August 7:  Berkshire Hathaway Inc. (BRK-A), which owns Brooks Sports and H.H. Brown Shoe Group

Earnings: Net earnings for Q2 totaled $28.1 billion.

Sales: Revenues for consumer products, which includes Berkshires leisure vehicles and apparel and footwear operations increased about $1.5 billion, or 68.0%, in Q2. Apparel and footwear revenues increased 46.6% in the first half of 2021 compared to 2020.

Comments: “Many of our businesses generated significantly higher earnings over the first half of 2021 compared to 2020, which included significant adverse effects from the pandemic,” read the company’s regulatory filing on Saturday. “Earnings of our manufacturing, service and retail businesses in 2021 benefitted from higher customer demand in many of our businesses and exceeded earnings in 2019 as well.”

August 6: Qurate Retail, Inc. (QRTEA), an e-commerce retailer with brands such as Zulily, Ballard Designs, Garnet Hill, QVC and HSN.

Earnings: Qurate reported diluted EPS of $0.52 and adjusted diluted EPS of $0.54.

Sales: Revenue increased 2% to $3.5 billion.

CEO Comments: “The quarter played out largely as we expected, with our businesses responding effectively to customers’ evolving needs while managing continued supply chain headwinds and a tight labor market,” said Mike George, CEO of Qurate Retail. “We delivered strong increases in apparel and accessories and growth from our best customers at QxH, sustained momentum across our international businesses, and had record second quarter performance at Cornerstone Brands.”

August 5: Adidas (ADDYY)

Earnings: Net income reached € 387 million.

Sales: Revenues grew 51% in Q2 to € 5.077 billion, compared to the same period last year at € 3.352 billion.

CEO Comments: “With sports taking back center stage this summer, we delivered a very successful quarter. Driven by the strength of our brand and better-than-expected demand for our products, we saw an acceleration in our top- and bottom-line,” said CEO Kasper Rorsted. “Sales in our strategic growth markets EMEA and North America almost doubled. Revenues in our key categories Football and Outdoor even grew at triple-digit rates. The share of full-price sales increased strongly, fueling exceptional profitability improvements.”

Outlook: Adidas increased its full-year outlook and expects sales to grow 20% with net income expected to reach between € 1.4 and € 1.5 billion.

Quick notes: Revenues rose in all regions, except for Greater China.

August 3: Rocky Brands Inc. (RCKY), which designs, manufactures, and markets brands such as Rocky, Georgia Boot, Durango, Lehigh, The Original Muck Boot Company, XTRATUF, Servus, NEOS and Ranger.

Earnings: Diluted earnings per share increased 57.6% to $0.52 and adjusted diluted earnings per share increased 120% to $0.99.

Sales: Revenue increased 134.2% to $131.6 million compared with $56.2 million in Q2 of 2020. 

CEO Comments: “Our business exhibited tremendous strength in the second quarter,” said Jason Brooks, chairman, president and CEO. “Demand for our Rocky, Georgia and Durango brands has been building over the past year and recent trends have been particularly strong. The combination of innovative product introductions, enhanced consumer engagement, and effective inventory management are fueling market share gains in our work, western and outdoor markets.”

August 3: Ralph Lauren (RL) reported earnings for Q1 of fiscal year 2022.

Earnings: The company reported adjusted earnings per share of $2.29, excluding restructuring charges, beating analyst projections. Net income was $165 million, or $2.18 per diluted share on a reported basis. Net income was $172 million, or $2.29 per diluted share, on an adjusted basis.

Sales: Sales for Q1 grew 182% to $1.4 billion, led by North America and Europe.

CEO Comments: “Against the backdrop of stronger than expected re-openings across North America and Europe, our teams delivered exceptional performance this quarter,” said president and CEO Patrice Louvet. “Our timeless brand is resonating strongly with consumers around the world, and the breadth of our lifestyle portfolio is enabling us to deliver products that meet evolving consumer tastes and demand as we progressively emerge from the pandemic.”

Outlook: The company raised its outlook for fiscal year 2022 and expects constant currency revenues to grow 25% to 30% on a 53-week basis with an adjusted operating margin expected between 12% and 12.5%

August 3: Under Armour (UA)

Earnings: The company reversed its year-ago loss, posting a profit of $59.2 million, or 13 cents per share. Excluding one-time charges, Under Armour earned 24 cents per share.

Sales: Revenue was up 91% to $1.4 billion. Footwear revenue increased 85% to $343 million. Revenue in North America, which has been in focus during the company’s turnaround efforts, rose 101% to $905 million.

CEO Comments: “With the critical mass of our transformation behind us and the continued improvements across product, marketing, and our financial results, I believe this year sets a robust foundation that positions us well for our next chapter of profitable growth,” said Under Armour President and CEO Patrik Frisk.

Outlook: Under Armour previously forecast a loss of 2 cents to 4 cents a share for fiscal 2021. The company now projects earnings of 14 cents to 16 cents per share on a sales increase in the low 20% range. (Adjusted earnings are expected to hit 50 to 52 cents.)

Quick notes: “We continue to believe UA is a prime example of a company that used a ‘COVID-Cover’ to refashion its business for multi-year success and return to under-promising and over-delivering, suggesting that today’s guidance hike may well prove conservative,” BMO Capital Markets Analyst Simeon Siegel wrote in a note.

August 2: Columbia Sportswear Company (COLM)

Earnings: The company reported a diluted earnings per share of $0.61, compared to a net loss per share of $(0.77) in Q2 of 2020.

Sales: Net sales increased 79% to $566.4 million.

CEO Comments: “Our record financial performance clearly reflects the powerful fundamental recovery that is underway in our business. Second quarter results exceeded our expectations, driven by better than planned performance in our U.S. wholesale and DTC brick & mortar businesses,” said chairman, president and CEO Tim Boyle. “We eclipsed pre-pandemic first half 2019 financial results, marking an important milestone in our recovery. It is clear that our brand portfolio is resonating with consumers and we are well positioned to benefit from current consumer and outdoor trends.”

Outlook: The company raised its full year outlook and now expects net sales between $3.13 and $3.16 billion and diluted earnings per share between $4.30 and $4.55.

July 30: Capri Holdings (CPRI), parent company to the Michael Kors, Versace and Jimmy Choo brands.

Earnings: The company reported $219 million in profit, or $1.41 per diluted share, compared to a loss of of $180 million, or $(1.21) per share, in 2020.

Sales: Revenue increased 178% to $1.25 billion, up from $451 million a year ago.

CEO Comments: “We were pleased by our first quarter performance which reflected the strength of Capri Holdings’ three global fashion luxury houses, Versace, Jimmy Choo and Michael Kors,” said John D. Idol, chairman and CEO. “All of our luxury houses significantly exceeded our revenue and earnings expectations for the quarter, as they continued to deepen consumer desire and engagement. As a result of this encouraging start to the year, we are raising our Fiscal 2022 revenue and earnings outlook.”

Outlook: The company raised its full year guidance and now expects a total revenue of about $5.3 billion.

Quick notes: The company’s strong results show early signs of a comeback for the luxury fashion firm.

July 30: VF Corp. (VFC), which includes the Vans, The North Face, Supreme, and Timberland brands, among others.

Earnings: Earnings per share from continuing operations was $0.39. Adjusted earnings per share from continuing operations increased 148% to $0.27.

Sales: Revenue grew 104% to $2.2 billion. Excluding acquisitions, revenue increased 90%.

CEO Comments: “Our teams delivered an outstanding first quarter, powering VF back to pre-pandemic revenue levels while driving an earnings recovery ahead of our expectations,” said Steve Rendle, VF’s Chairman, President and CEO. “We continue to see broad-based momentum across the portfolio, supporting an increase to our fiscal 2022 outlook for each of our largest brands.”

Outlook: VF Corp. raised its full year outlook for fiscal year 2022 and now expects revenue to grow at least 30% and hit at least $12 billion, including $600 million from the Supreme brand.

July 29: Deckers (DECK), which includes the Ugg, Hoka One One, Teva, and Sanuk brands, among others. Deckers reported earnings for Q1 of fiscal year 2022.

Earnings: Earnings per share increased to $1.71.

Sales: Revenue increased 78.2% to $504.7 million.

CEO Comments: “Our portfolio of brands delivered a strong start to fiscal 2022, which propelled Deckers to its most profitable first quarter ever,” said Dave Powers, President and CEO. “The growing influence of HOKA, increasing year-round appeal of UGG, and continuing strength of Teva are driving progress across strategic priorities and delivering a more balanced business.”

Outlook: Deckers raised its full year outlook for fiscal year 2022 and expects earnings per share in between $14.45 and $15.10.

Quick notes: Hoka sales grew 95.5% to $213.1 million in Q1, marking the first quarter that the brand surpassed UGG in revenue.

July 29: Puma SE (PUMSY:OTC US)

Earnings: Net earnings increased to € 49 million.

Sales: Revenues were up 95.8% to € 1.59 billion.

CEO Comments: “I am very proud of how our organization has maneuvered through all of these issues and how we managed to achieve these results in the second quarter,” said Puma CEO Bjørn Gulden. “Demand for our products in performance, comfort and lifestyle has been strong. The cooperation with our sourcing and retail partners has become even stronger during the COVID-19 pandemic and this continued to help us in the second quarter.”

Outlook: The company raised its outlook for 2021 and expects 2021 currency-adjusted sales to increase by at least 20%, up from a previous projection in the mid-teens.

Quick notes: Puma’s growth was led by North America, which posted a sales growth of 181.8% to € 675.6.

July 29: Wolverine Worldwide Inc. (WWW), which includes the Saucony, Sperry, are Merrell brands, among others.

Earnings: Net earnings for Q2 totaled $44.7 million, or 53 cents a diluted share, marking an increase from 2020 losses of $1.6 million, or 2 cents.

Sales: Reported revenue was up 81% at $631.9 million versus 2020 and up 77.7% on a constant currency basis.

CEO Comments: “With record revenue in the second quarter and demand for our brands continuing to accelerate, we now expect to deliver meaningful growth this year over both 2020 and 2019,” said Blake W. Krueger, Wolverine Worldwide’s Chairman and CEO. “Merrell and Saucony, our two largest brands, both achieved all-time record quarterly revenue – more than doubling their combined revenue year-over-year and driving combined revenue growth of more than 40% versus 2019.

Outlook: The company raised its outlook for 2021 and now expects revenue between $2,340 million to $2,400 million, and growth of 31% to 34% compared to 2020. This is up $150 million from the company’s original outlook in February.

Quick notes: The company appears to have reversed the tide of its pandemic slowdown, partly thanks to high demand for Merrell and Saucony products. Brendan Hoffman, who is set to take over the role of CEO later this year, will help the company continue to shift its focus to broader and more longterm revenue goals, Williams Trading analyst Sam Poser said in a note.

July 28: Steve Madden (SHOO)

Earnings: Net income was $36.9 million, or $0.45 per diluted share.

Sales: Revenue increased 178.6% to $397.9 million compared to $142.8 million in 2020.

CEO Comments: “We are excited about the strong and accelerated recovery we are seeing in our business. Our second quarter results significantly exceeded our expectations, with earnings slightly ahead of pre-COVID-19 second quarter 2019,” said CEO and Chairman Edward Rosenfeld.

Outlook: Steve Madden expects revenue to increase 43% to 47% over fiscal year 2020, with diluted EPS between $1.90 and $2.00 and adjusted diluted EPS between $2.00 and $2.10.

Quick notes: Sales have still not reached where they were pre-Covid and are are still down about $52 million from the same quarter two years ago.

July 22: Crocs (CROX)

Earnings: Quarterly net earnings rose to $319 million, or $2.23 per share, on an adjusted basis, compared with $56.6 million, or $1.01 a year ago. Revenues were up 93%, or $640.8 million, compared with $331.6 million in a year ago.

Sales: Revenues were up 93%, or $640.8 million, compared with $331.6 million in a year ago.

CEO Comments: “We continue to see strong consumer demand for the Crocs brand globally. On the back of record second quarter results and continued momentum, we are raising our full year 2021 guidance,” said Andrew Rees, CEO, in a statement.

Outlook: Croc expects full-year revenues to increase 60% to 65%, compared with 2020 revenues of $1.39 billion. In the third quarter, the company expects revenues to rise 60% to 70% compared with third quarter 2020 revenues of $361.7 million.

Quick notes: In recent months, Crocs has focused on sharpening its direct-to-consumer business and slimming down on certain wholesale partnerships. Its DTC sales increased 78.6% year over year as a result.

July 22: Skechers (SKX)

Earnings: Skechers earned $137.4 million, or 88 cents a share in Q2, compared to a loss of $68.1 million, or 44 cents, last year.

Sales: Revenues rose 127.3% to $1.66 billion from $729.5 million in Q2 of 2020.

CEO Comments: “We accomplished these financial results even as we continued to face COVID-19 related challenges including delayed shipments and port constraints as well as temporary store closures in some key markets, including India, Canada, and parts of Europe and South America,” said David Weinberg Skechers COO, in a statement.

Outlook: Skechers expects sales between $6.15 billion and $6.25 billion and diluted EPS between $2.55 and $2.65.

Quick notes: Williams Trading analyst Sam Poser said Skechers’ superior supply chain, comfort-focused products, and strong position in the wholesale market have made it a great option for retailers “who are in dire need of goods” during the current shipping crunch.