Here, your earnings recap for the week.
Beating Wall Street expectations, DSW saw gains in earnings for fiscal year 2017. Earnings per share were $1.52 on an adjusted basis, marking DSW’s first increase since 2013, and revenues for the year increased 3.3 percent to a new high of $2.8 billion.
For the most recent quarter ended Feb. 8, DSW reported earnings of 15 cents per diluted share. On an adjusted basis, EPS were 38 cents, outpacing analyst estimates for 27 cents a share.
On Tuesday, the Columbus, Ohio-based retailer also announced a plan to liquidate all inventory and assets of its Ebuys division, which it expects to complete in early 2018. DSW acquired the e-commerce off-price footwear and accessories company in February 2016 for $62.5 million upfront, plus additional payments.
Hot on the heels of DSW’s positive 2017, Caleres said on Tuesday that it earned a profit for the fourth quarter and had improved its full-year performance.
The St. Louis-based company — owner of Famous Footwear and brands such as Sam Edelman and Allen Edmonds — reported net earnings of $20.3 million, or 47 cents a share, while adjusted earnings came in at $20.6 million, or 48 cents a share. (In the same quarter a year earlier, Caleres posted earnings of $14.27 million, or 33 cents a share.)
Meanwhile, revenue for the quarter rose 9.8 percent to $702.5 million, up from $639.5 million. For the year, revenues rose to $2.8 billion from $2.6 billion — with Famous Footwear itself registering sales of $393.1 million, up 7 percent, for the period.
Fueled by Greater China and North America, the Germany-based firm revealed an accelerated revenue growth in the fourth quarter as well as an upgraded profitability target for 2020, thanks to a strong performance in 2017.
Adidas reported on Wednesday that sales rose 19 percent on a currency-neutral basis to 5.05 billion euros ($6.24 billion), following a 12 percent increase in the third quarter. Operating profit jumped to 132 million euros during the period, from 41 million euros during the prior-year period.
Looking ahead, it expects revenues to rise 10 percent in 2018, when adjusted for currency swings. Net income is forecast to grow by an average of 22 percent to 24 percent per year between 2015 and 2020, versus a previous target of 20 percent to 22 percent, having increased by 25.2 percent in 2017 as a whole. After maintaining its target for currency-neutral revenues, Adidas also expects to reach an operating margin of up to 11.5 percent by 2020, versus 11 percent previously.
On Tuesday, the company announced that it plans to buy back up to 3 billion euros of its shares by 2021.
Iconix Brand Group Inc.
The company reported on Wednesday its financial results for the fourth quarter, seeing revenues drop to $52.3 million, an 11 percent decline compared to $58.8 million in the prior year quarter.
Reported net income totaled $24.7 million, or 40 cents per diluted share, compared to a loss of $293.9 million, or $5.23 per diluted share. Adjusted net income was $3.6 million, or 6 cents per diluted share, an 84 percent decrease as compared to the same period last year.
Despite fourth-quarter results that topped analysts’ expectations, Hibbett Sports’ forecast for the year missed the mark, sending shares tumbling Friday.
The company reported an 8 percent increase to $266.7 million in its net sales for the period ended Feb. 3, beating forecasts of $262.5 million. Comparable store sales increased 1.6 percent, with e-commerce sales representing 7.6 percent of total sales during the quarter — in line with Wall Street’s bets.
Reported profits fell to $9.7 million, or 51 cents per diluted share, from $12.1 million, or 54 cents per diluted share, in the same period last year. Adjusted profits were a penny higher than predicted at 44 cents per share.