FN keeps track of all of our earnings coverage for retailers and footwear companies here.
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 Seigel 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.
