After a disappointing fourth-quarter 2015, analysts have slashed estimates on apprehension of a difficult first-quarter 2016. Earnings growth is expected to be negative for the 4th quarter in a row. As per the Zacks Earnings Trend, the first-quarter earnings scenario has been gloomy so far, with a year-over-year decline of 6.8% for the companies who have reported so far. The sharp deceleration in equity prices, the widening credit of banking stocks and the slump in oil prices have impacted investors’ sentiments. Zacks Earnings Trend also predicts a 10.3% decline in Q1 earnings, which are likely to be hit by a 0.6% drop in revenues.In the previous quarter, the textile apparel and shoe sector reported comps decline for the first three months of 2016 and are expected to report a further dip in earnings in the to-be reported quarter.The industry is constantly grappling with issues like competition and declining footfall. Here, change is the only constant and the players are under perennial pressure to hit the right chord with the fashion conscious.Meanwhile, an increasing number of customers are resorting to online buying and this has dealt a major blow to apparel retailers who are dependant on mall traffic. Moreover, consumer preferences have shifted from clothes toward technology and home improvement. Further, unusually warm weather and an accelerating U.S. dollar have added to the woes.In spite of the somber outlook, let’s take a look at what’s in store for these three major textile, apparel and shoe stocks, each of which is scheduled to release its first-quarter numbers on Apr 21.Leading apparel retailer Hanesbrands Inc. HBI has an Earnings ESP of 0.00% and a Zacks Rank #3 (Hold). Meanwhile, the Zacks Consensus Estimate for first-quarter earnings is pegged at 22 cents.Last quarter, the company posted a negative earnings surprise of 4.35%. In the trailing four quarters, the company posted an average earnings beat of 1.69%.Meanwhile, the company’s Innovate-to-Elevate strategy along with its focus on high-margin products should favor first-quarter margins. Strong sales growth in most of its segments, especially Activewear and International, should give a boost to the company’s top line. Further, the acquisition of Knights Apparel and DBApparel are expected to generate higher sales for the sports apparel company. (Read more:Hanesbrands to Report Q1 Earnings: Will it Surprise?)Under Armour, Inc. UA, a developer, marketer and distributor of branded performance apparel, footwear, and accessories, has an Earnings ESP of 0.00% and a Zacks Rank # 3. The Zacks Consensus Estimate for the quarter’s earnings is pegged at 2 cents.Last quarter, the company posted a positive earnings surprise of 4.17%. In the trailing four quarters, the company outperformed the Zacks Consensus Estimate by an average of 9.38%.The company’s sustained focus on brand development, DTC business expansion, product innovation and foray into the technology-based fitness business bode well. Management had earlier projected first-quarter 2016 net revenue growth in the high 20% range. However, it has hinted at the possibility of a 150 basis points of contraction in the gross margin during the quarter on account of higher inventory liquidation and currency headwinds. (Read more:What Awaits Under Armour this Earnings Season?)Skechers USA Inc. SKX, a designer, developer and marketer of footwear, has an Earnings ESP of 1.89% and a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for earnings is pegged at 53 cents.Last quarter the company posted in line results. In the trailing four quarters,the company outperformed the Zacks Consensus Estimate by an average of 18.45%.We believe that with added emphasis on the new line of products, store openings, cost containment efforts, inventory management, global distribution platform and strong backlogs, Skechers remains well positioned to sustain its growth momentum. The company’s multi-brand strategy enables it to roll out new products without cannibalizing its existing brands and helps expand demographic profile of customers. However, the competitive retail landscape and foreign currency headwinds may weigh on Skechers’ performance in the quarter to be reported. (Read more:Skechers Q1 Earnings: What's in the Cards for SKX Stock?)Stay tuned! Check later on our full write-up on earnings releases of these stocks.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SKECHERS USA-A (SKX): Free Stock Analysis Report UNDER ARMOUR-A (UA): Free Stock Analysis Report HANESBRANDS INC (HBI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research