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Ahead of this week’s ICR conference, several public footwear companies have provided updates to their financial outlooks.
While some companies saw a boost in sales from the most recent holiday shopping period, some still cite headwinds like weather-related closures and currency exchange for impacting their bottom line.
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Here FN takes a look at how Amer Sports, Boot Barn, Caleres and Genesco are updating their latest financial results.
Amer Sports
Amer Sports, the parent company of brands like Arc’teryx and Salomon, said on Monday that it expects full year 2024 revenue growth to be at the high end of the previous guidance range of 16 percent to 17 percent despite rising headwinds related to unfavorable foreign currency exchange rate fluctuations in the fourth quarter.
The company added that it also expects full year 2024 adjusted operating margin to be at the high end of the previous guidance range of 10.5 percent to 11.0 percent.
“Despite increasing currency headwinds, our portfolio delivered another strong quarter of growth and profitability to close out 2024, with all segments and regions delivering solid top-and bottom-line results,” Andrew Page, chief financial officer or Amer Sports, said in a statement. “Furthermore, our recent capital raise and strong cash conversion in the fourth quarter has allowed us to pay down more than half of our debt prior to year end and significantly deleverage our balance sheet.”
Page added, “Looking forward, led by the continued global expansion of our flagship Arc’teryx brand as well as Salomon footwear, we are well positioned to deliver sustainable long-term growth and margin expansion.”
Amer Sports will report its full fourth quarter and fiscal 2024 results on Feb. 25.
Boot Barn
The Irvine, Calif.-based footwear retail said late Friday that it expects net sales of approximately $608.2 million, representing growth of 16.9 percent over the prior year, for the third quarter of fiscal year 2025.
Boot Barn also noted that its net income per diluted share in Q3 is expected to be approximately $2.43, compared to net income per diluted share of $1.81 in the prior-year period. Included in net income per diluted share is an estimated $0.22 benefit related to the CEO transition.
“I am very pleased with our third quarter results,” John Hazen, interim chief executive officer of Boot Barn, said in a statement. “We once again experienced broad-based growth, driving same store sales up 8.6 percent versus last year and above our expectations. Both channels and all geographies and major merchandise categories were nicely positive, with the latter led by our ladies and men’s western businesses, which were up low-double digits and high-single digits, respectively. We are pleased that our sales outperformance, driven by strong full-price selling, translated into strong earnings per share as we expanded merchandise margin approximately 130 basis points. I am proud of the entire team for delivering a strong holiday quarter, and I look forward to a successful finish to our fiscal year.”