EXEC: Wolverine Worldwide CEO Talks Merrell Brand Modernizing the Trail, Q2 Wins
EXEC: Crocs Inc. CEO Sees Consumer Shift to Athletic a Major Headwind; Cuts Loom
EXEC: July Manufacturing Index Indicates Contraction in U.S. for Fifth Straight Month
ThredUp Shares Jump as Resale Business Grows Amidst Tariff Hurdles for Retailers
EXEC: Columbia Sportswear Delivers Dismal Outlook on Columbia Brand Struggles in U.S.
SGB Update
Allbirds Cuts Revenue Outlook for the Year Despite Q2 Exceeding Plan
Allbirds reported a loss in the second quarter on a 23 percent sales drop tied to planned store closures and international distributor transitions. Results were above guidance but the footwear maker still reduced its revenue guidance for the year while maintaining its earnings guidance.
Nordstrom NYC Hosts Nike Running @ The Corner
The shop is part of an ongoing series of pop-ups and brand takeovers at the Nordstrom NYC Flagship in a dedicated space on the corner of 57th and Broadway.
The Buckle Continues Comeback as Fiscal July Comps Surge Double Digits
Net sales for the month increased 12.3 percent to $110.8 million from net sales of $98.7 million for the prior-year fiscal month ended August 3, 2024. Comparable store net sales for the 4-week period ended August 2 increased 11.0 percent year-over-year.
NSGA Appoints John Davenport of Play It Again Sports Parent to Association Board
John Davenport is the manager of buying operations for Winmark and is a 36-year veteran of the resale and sporting goods industries. He joined Winmark in 1989 and has held various buying and operational roles that have contributed to the growth and evolution of Winmark’s resale brands, including Play It Again Sports.
Report: Dick’s SG-Foot Locker Deal May Be Under Additional Anti-Trust Scrutiny
Senator Elizabeth Warren (D-MA) is asking the Federal Trade Commission and the Department of Justice to “closely scrutinize” Dick’s Sporting Goods’ proposed acquisition of Foot Locker, Inc. and “block the deal” if the merger is found to violate antitrust laws.
SGB Executive
EXEC: Saucony Gets Very Strong DD Growth from Each Core 4 Franchise in Q2
The Ride, Guide, Triumph, and Hurricane franchises each grew at a very strong double-digit pace at U.S. retail in the quarter, while the brand continued to grow through its Lifestyle offerings as well.
EXEC: Under Armour CEO Kevin Plank Outlines Path to North America Recovery
During Under Armour’s fiscal first-quarter call with analysts, company founder Kevin Plank stated that while the North America region will face challenges this year from higher costs due to tariffs and softening demand, “we see this as an inflection point, not a ceiling.”
EXEC: Under Armour Issues Weak Forecast, Tariff Warning
UA reported that sales slumped 4 percent in the fiscal first quarter ended June 30, and profitability was in line with plans. However, the company provided a weak second-quarter forecast, with sales declines worsening and margins impacted by tariffs. Sales are expected to decline 6 percent to 7 percent in the current quarter, pulled down by a low-double-digit percent decrease in North America.
EXEC: Wolverine Worldwide CEO Talks Merrell Brand Modernizing the Trail, Q2 Wins
In trail running, CEO Chris Hufnagel said the Agility Peak 5 franchise was up double digits at U.S. retail, and the brand launched the new ProMorph, an all-terrain hybrid runner. He said Merrell’s continued progress in modernizing the trail helped strengthen its ability to advance in lifestyle as well.
EXEC: Havaianas Parent Sees Profits Soar on 8 Percent Sales Growth in Q2
Brazil-based Alpargatas reported sales grew 8.3 percent in the second quarter to Brazil Real $1.1 billion ($203 mm), boosted by strong double-digit gains in Europe and the U.S. and an improved channel and product mix in Brazil. Earnings improved significantly, with the year-ago quarter impacted by inventory write-offs.
