Genesco chairman, president and CEO Robert J. Dennis said that the company’s overall fourth-quarter results were lower than expected, thanks to inconsistent sales patterns and severe winter storms that affected its key markets.
Although the Home Depot’s overall sales missed analysts' expectations, the retailer said the calendar shift, which resulted in one fewer week in the fourth quarter compared to the prior-year quarter, affected its results.
Cabela's revenue and earnings per share for 2013 grew at a double-digit rate for the fifth consecutive year, according to CEO Tommy Millner. However, despite an 18% increase in net income year-over-year to $80.1 million from $68 million, results for the fourth quarter did not meet the company’s expectations.
Whole Foods Market said total sales for the first quarter ended Jan. 19 climbed 10% to a record $4.2 billion. But those results reportedly missed analysts’ expectations, and the company has lowered its earnings outlook for 2014 as a result.
Dennis Hernreich, EVP, COO and CFO of Destination XL Group, has resigned and board member John E. Kyees has been named interim CFO. In addition, the company has elected Will Mesdag, 60, to its board of directors.
New York & Company CEO Gregory Scott is pleased with the company’s holiday performance. The operator of 514 stores has navigated through what it called a challenging retail environment to build on the momentum it generated in the first three quarters of the year.
Women’s apparel retailer Cato has made its debut into the world of online shopping with the launch of its first ever e-commerce site. The announcement came as the retailer reported holiday sales for the five-week period ended Jan. 4.
A search is underway for a new CEO at Crocs following an investment by private equity firm Blackstone and ongoing sales and profitability challenges which could see the funky footwear maker open fewer stores.
A Dutch arbitration panel has ordered Tiffany & Co. to pay Swatch damages of about $449.5 million plus interest in a breach of contract case dating back to 2011. The dispute stems from Swatch’s claim that Tiffany failed to honor its obligation to develop and sell Swatch watches under the Tiffany name and split the profits.
Rite Aid modestly increased its full year sales forecast following the release of third quarter results and said it will aggressively expand its “Wellness” format as it looks to drive greater growth in 2014.
Eight months into his role as CEO and with a new merchandising organization in place, David Campisi is following a familiar blueprint to reinvigorate the performance of Big Lots — making hard choices to streamline operations, implementing new merchandising strategies and lowering near-term expectations.
Genesco, the company behind Lids and Journeys, is the latest company to express concern about the holiday season and lower fourth-quarter expectations after producing a solid third-quarter performance.
Famous footwear may have generated record third quarter sales, but parent company Brown Shoe was unwilling to get too ambitious with holiday expectations given uncertainty it sees around promotional activity and consumer sentiment.