Retail: 75
Retail: 188
Mon, Aug 28, 2017
Vol 1, Issue No. 33

BOSS Coming to Hibbett; Active Performs For Kohl’s

During the first half of 2020, Hibbett Sports’ customers will have a seventh method to purchase products from the retailer—Buy Online, Ship to Store that is known as BOSS. The method could spark further ecommerce sales growth at the largely small town retailer, which saw ecommerce generate 10.5 percent of its Q3 revenues, or an implied $28.9 million. Overall, HIBB reported a 10.7 percent comp sales increase in the period ended Nov. 2 as total net sales rose 27 percent to $275.5 million. During the last 90 days, Hibbett Sports has refreshed its website and apps, combined separate ecommerce platforms, added additional payment flexibility for its customers and launched same-day delivery in several markets.

As for Q3 specifics at HIBB—footwear sales rose for a ninth consecutive quarter, up mid-teens, on the strength of Nike Air Force I’s, numerous Air Max iterations, strength from Adidas Yeezy, Ultra Boost and NMD, gains from Vans, Brooks, Champion and an improvement from Under Armour footwear at Back-to-School. Apparel sales rose low single digits, fueled by double-digit improvement from men’s activewear.

Hibbett Sports intends to integrate City Gear’s corporate headquarters into its own in Birmingham, AL at the end of the current FY that should result in some cost savings, company executives said last week. (Hibbett acquired the urban streetwear retail chain City Gear in late 2018.)

In other retail news,

At Kohl’s, despite flat Q3 revenues, a lower gross margin and drop in net income, activewear sales comps rose 7 percent and were a bright spot in the period. Active apparel sales rose high-single digits, driven by Nike, Under Armour and Adidas. Footwear returned to year-over-year sales growth at the banner “with solid results” from Adidas, Under Armour and ASICS. During Q3, Kohl’s increased the number of doors with larger active merchandise areas to 160 from 30 and added 100 Adidas shop-in-shops to certain locations. Additionally, the retailer is expanding its women’s plus active assortment by adding plus offerings from Adidas and Under Armour to Nike Plus merchandise.

At Shoe Carnival, Q3 comparable store sales were up 3.5 percent despite flat athletic sales for the period ended Nov. 2. Within athletic, CEO Cliff Sifford says the retailer continues to see a shift from performance categories to casual. “Our merchant team has done a great job of recognizing this in preferences resulting in slightly positive comparable store sales,” he said. Merchandise margin rose 50 basis points in Q3, an improvement attributed to higher sales of non-athletic products, particularly women’s, that typically carry higher margins than athletic offerings.