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FINANCE

  • Consumer confidence takes a hit in October
    Consumer confidence experienced an October surprise of sorts after reaching a nine-year high in September.   The index now stands at 98.6, down from 103.5 last month.  

  • Under Armour net revenue, online sales jump in Q3
    Amid “sluggish retail conditions,” VF Corp.’s Under Armour division posted gains for the third quarter.   Under Armour’s net revenues increased 22% in third quarter 2016 ended Sept. 30, 2016, to $1.47 billion compared $1.20 billion for the same period last year. Net income increased 28% to $128 million, compared with $100 million for third quarter last year.  

  • Cabela’s earnings slip in Q3
    Despite sales gains, Cabela’s experienced profit losses for the third quarter.   For the quarter ended Oct. 1, 2016, the outdoor retailer’s total revenue increased 7.6% to $996.5 million; revenue from retail store sales increased 8.1% to $688.6 million; Internet and catalog sales increased 3.6% to $167.4 million; and financial services revenue increased 8.8% to $134.5 million.   

  • HRC report finds retail economic metrics are not sustainable
    Amid continued market share growth by Amazon and a rapidly changing digital environment, traditional retail profitability metrics are under siege and not sustainable.   

  • GNC announces quarterly dividend
    GNC Holdings reported a quarterly dividend of 20 cents per share.   The dividend will be paid on Dec. 30.   The specialty wellness retailer operates more than 9,000 locations in approximately 50 countries.  

  • Staples moves beyond office supplies with new licensing efforts
    Staples is getting into the licensing game as a means of expanding its brand. It’s first target — document storage.  

  • Report: Authentic Brands Group, Iconix Brand Group eyeing American Apparel
    Several companies have reportedly expressed interest in acquiring the debt-laden American Apparel.   Brand licensors Authentic Brands Group and Iconix Brand Group are among the companies eying the chain, Reuters reported.   

  • Skechers Q3 misses
    Skechers’ third quarter results came in below estimates as the company said it would continue to focus internationally for growth.   The Manhattan Beach, Calif.-based brand’s net income fell 2.2% to $65.1 million, or 42 cents per diluted share, which was below forecasts for diluted EPS of 47 cents. Skechers said its diluted EPS were negatively impacted by foreign currency translation and exchange losses.  
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