×
1 277
Fashion Jobs
ESTÉE LAUDER
Tom Ford - Business Manager - Selfridges, Birmingham - 37.5 Hours - Full Time, Permanent
Permanent · Birmingham
ESTÉE LAUDER
Marketing Executive, Tom Ford Beauty, Kilian, Darphin And le Labo - Travel Retail Emea (Based London)
Permanent · London
ESTÉE LAUDER
Corporate Account Executive, Lagardere, Dfs, Inflight And Aquatic - Travel Retail Emea (Based London)
Permanent · London
ALEXANDER MCQUEEN
Collection Coordinator Assistant
Permanent · LONDON
ESTÉE LAUDER
Clinique - Consultant - Boots, Oxford - 24 Hours - Part Time, Permanent
Permanent · Oxford
ESTÉE LAUDER
Clinique - Consultant - Boots, Sedley Place London - 37.5 Hours - Full Time, Permanent
Permanent · London
PAUL SMITH
Office Administrator
Permanent · NOTTINGHAM
FRASERS GROUP
Trainee Commercial Manager
Permanent · SHIREBROOK
FOREO
Key Account Manager
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Edinburgh - 26 Hours - Part Time, Permanent
Permanent · Edinburgh
BEARA BEARA
Marketing Executive (Taiwanese)
Permanent · LONDON
BRANDLAB 360 - HULA
Hula by Barbara Hulanicki – Wholesale Sales Manager
Permanent · LONDON
HOMEGOODS
Loss Prevention Detective
Permanent · Countryside
TK MAXX
10933-Loss Prevention Officer Sth Ruislip
Permanent · Ruislip
TK MAXX
10933-Loss Prevention Officer Haringey
Permanent · London
ESTÉE LAUDER
Aveda Haircare Category & Marketing Planning Manager
Permanent · London
ESTÉE LAUDER
Mac - Area Sales And Education Manager - London - Maternity Cover
Permanent · London
RALPH LAUREN
Operations Manager - Gretna
Permanent · Gretna
LUXURY RECRUIT
Head of Digital - Luxury
Permanent · LONDON
LUXURY RECRUIT
Brand Director - Luxury
Permanent · LONDON
LEVI'S
Mobile App Trading & Operations Manager
Permanent · London
BLACK PR
Sales Account Manager
Permanent · LONDON BOROUGH OF HACKNEY
By
Reuters
Published
Nov 20, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Sports retail stocks jump after upbeat earnings

By
Reuters
Published
Nov 20, 2017

Shares of sports retailers soared on better-than-expected earnings from Foot Locker Inc, Shoe Carnival Inc and Hibbett Sports Inc as the companies sold more premium shoes and cut stocks of low-margin ones.


Nike




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

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

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

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

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

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

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

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

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

© Thomson Reuters 2022 All rights reserved.