Bob McGee

Bob McGee

Bob McGee is our expert for financial analysis and reports. If you want to know something about turnovers, growth rates or sales per employee Bob is your go-to guy.

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    Foot Locker plans to wind down Sidestep retail brand


    Nine-and-a-half years after acquiring the sports fashion footwear chain as part of its deal for the Recklinghausen, Germany-based Runners Point Group, Foot Locker has decided to shutter Sidestep’s operation that currently consists of several dozen stores across Germany, Austria, the Netherlands, and Switzerland. In February 2019, Foot Locker operated 80 ...

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    News briefs

    Lululemon shares take hit on analyst downgrade


    Lululemon shares fell $4.87, or 1.54 percent after a Wall Street analyst downgraded the stock to “underperform” on Jan. 24 and slashed its target price to $290, below the company’s closing price at $311.21. Bernstein analyst Aneesha Sherman suggested the company’s shares have a “reset coming” due to numerous factors ...

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    Longtime industry consultant starts own firm


    U.S.-based sporting goods and retail industry consultant Matt Powell, who has been serving as a senior industry advisor at The NPD Group, is launching his own consulting and advisory service firm focused on merchandising, marketing and retail called Spurwink River. In October 2021, private equity firm Hellman & Friedman acquired ...

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    Data leak at Puma’s Chilean e-com site


    Puma representatives told Cybernews that they are investigating a data leak at its Chilean e-commerce site to establish what data has been taken and how the incident occurred. According to the website, private data that belongs to more than 230,000 Puma customers in the South American country has been found ...

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    Todd Klein named president of Fila USA


    Former Adidas and Reebok executive Todd Klein is the new president of Fila USA, replacing Jennifer Estabrook, who took the job in 2019 following the sudden death of Jon Epstein.

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    News briefs

    Xtep International provides update on Q4, FY22 results


    Xtep International is forecasting a high single-digit sales decline, including retail and online channels, for the fourth quarter ended Dec. 31, 2022, when the discount level was approximately 30 percent versus 20 to 25 percent in the year-ago period. Anticipated full-year results call for mid-teens year-over-over revenue growth and a ...

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    News briefs

    361 Degrees Intl. details preliminary Q4 results


    E-commerce sales for the Chinese company rose an estimated 25 percent in the fourth quarter, 361° Degrees reported on Jan. 16, but overall core branded sales were essentially flat during the period. Meanwhile, 361° Kids branded sales increased low-single digits year-over-year.


    Wolverine Worldwide’s profitability will be impacted by inventory reductions


    Wolverine Worldwide reduced its Q4 inventory total from the prior quarter by 8.5 percent to $805 million, but the effort is forecast to weigh negatively on the company’s FY22 and Q4 adjusted diluted earnings. Wolverine says final earning results, when reported next month, will be at the low end of ...

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    On has various growth levers to pull


    On Holding, the Swiss-based “disruptor”, which generated $1 billion in trailing 12-month sales through Q3, continues to focus on innovation and sustainability issues while establishing growth levers to reach younger, Chinese, and apparel consumers as a head-to-toe brand rooted in performance with lifestyle adaptability. On continues to eye a 60 ...

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    International will be vital to Crocs’ $4 billion FY23 revenue objective


    Crocs, which has delivered 54 percent annualized shareholder return since 2017 by its own calculation, is forecasting revenue growth of 10 to 13 percent this fiscal year to a range of $3.9 to $4.0 billion with sales in markets outside the Americas increasing at the highest rate.

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    News briefs

    Lululemon shares take hit after lowered margin outlook


    Lululemon, in updating its fourth-quarter guidance ahead of the ICR Conference, lowered its gross margin outlook for a second consecutive quarter. The group forecasted a gross margin decline of 90 to 110 basis points in the period versus a prior outlook of a 10 to 20 basis point increase, and ...

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    News briefs

    Zumiez Q4 results should meet or exceed forecast


    Zumiez, the retail operator of 766 stores worldwide, including 78 Blue Tomato banners across Europe, expects its fourth-quarter sales will be slightly higher than its forecasted range of $258 to $268 million, with corresponding EPS to be at the “mid to high end” of its $0.36 to $0.51 forecasted per ...

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    Analysis: Sporting Goods Industry stocks suffer double-digit market cap decline


    This exclusive analysis shows the development in the market capitalization of the top 87 stock-listed sporting goods companies.

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    News briefs

    Peloton Interactive agrees to pay $19 million fine


    Peloton Interactive has agreed to pay a $19 million civil penalty levied by the U.S. Consumer Product Safety Commission (CPSC) for failing to report a defect with its Tread+ treadmill promptly. Besides the fine, the company’s settlement with the government agency requires it to file annual reports on the compliance ...

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    Nike’s inventory position improves as China recovery commences


    In reporting more than a 30 percent quarterly sales increase across three global geographies, growing momentum in its digital business worldwide, better results in Greater China and an improving inventory position, Nike executives told analysts yesterday afternoon that the company “is in a position to control its own destiny.”

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    Analysis: Sporting Goods Scorecard Q3 2022 – The top performers by sales and profit


    Our Q3 Scorecard includes the revenue and profit development of 42 major sporting goods companies.

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    News briefs

    JD Sports divesting 15 non-core fashion brands


    JD Sports is selling 15 non-core, U.K.-based fashion businesses to Frasers Group for cash consideration of up to £47.5 million (€54.9m). The divestiture will result in JD taking a non-cash exceptional charge of up to £100 million and shifting more focus to the international and digital businesses of its core ...

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    The world’s biggest sports retailers


    This exclusive, yearly statistic shows the revenue development of the 50 largest sports retailers worldwide.


    Wolverine Worldwide announces divestitures, staff cuts


    Driven by a focus on increasing long-term shareholder value, Wolverine Worldwide is divesting or licensing its Keds brand and Wolverine leather business segments and is initiating an unspecified headcount reduction. The staff cuts are projected to result in approximately $30 million in savings for the company in 2023, and the ...

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    International remains vital in Lululemon’s growth strategy


    Lululemon continued its string of strong earnings results in the third quarter with 28 percent revenue improvement and 37 percent growth in operating income, but market concerns over the group’s 85 percent inventory expansion and a gross margin decline sent its shares down more than 6.2 percent in after-market trading ...

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