SGB Executive Footwear
EXEC: Tom Cove to Retire from SFIA Leadership Post in October
Always the gentleman, always understated and always a class act, Tom Cove let slip this week that he will retire from his leadership role at the SFIA, the Sports & Fitness Industry Association, formerly SGMA, in the fall.
EXEC: Is Adidas Killing the Golden Goose?
This week, the headlines in the sneaker world were filled with a billboard proclaiming, “Adidas Plans Cheaper Versions of Popular Shoes Like the Samba” and outrage from sneaker aficionados that the brand would dare step on the toes of its iconic shoe.
EXEC: CEO Kevin Plank Outlines Dramatic Turnaround Plan for Under Armour
With some apparent aggravation on what the brand has become, Plank noted that Under Armour has become a brand that competes primarily on price versus what should be its core competency—performance and technical innovation.
EXEC: Industry Organizations Push Back on Biden Administration’s Tariff Decisions
The decision to maintain Section 301 China tariffs and implement new tariffs has U.S. retail and brand companies up in arms over the decision released this week by the Biden administration.
EXEC: Fila Holdings Gets Q1 Lift from Fila USA, Acushnet to Offset Fila Korea Slump
Fila USA revenues saw a bit of a turnaround in the quarter, which covers the U.S., Canada and Mexico, with sales jumping 7.4 percent in US dollar terms to $64.7 million, after falling 46.4 percent in the year-ago Q1 period.
EXEC: On Holding Shares Hit 52-Week Highs as Q1 Results, DTC Gains Please the Street
In comparison to the prior-year period that was elevated as a result of the initial selling into some of our key accounts, net sales in the Americas region grew 22 percent year-over-year with constant-currency growth of 30.4 percent for the quarter.
EXEC: Mizuno Posts Strong Profit Growth for Fiscal Year on Sales Growth in All Regions
The company reported net sales were ¥229.7 billion in the fiscal year ended March 31. 2924, up 8.3 percent year-over-year. Profit attributable to owners of parent was ¥14.3 billion, up 44.4 percent versus the prior fiscal year.
EXEC: Key Footwear Factory Report Sees Flat Q1 and Unsettled Market for 2024
The Group believes the global footwear industry will remain unsettled in the near term amidst the uncertain macroeconomic environment driven by persistent inflation, high interest rates, regional conflicts, and its impact on shipping lanes.
EXEC: Asics Corp Boasts Record Profit Margins in Q1 as All Regions Post Growth
Reported net sales growth of 21.9 percent, or 14.3 percent in constant-currency (CC) terms, to ¥174.1 billion in the quarter, led by double-digit CC sales growth in Japan, South & Southeast Asia, Greater China and the North America.
EXEC: Havaianas owner Alpargatas Shows Modest Growth In Q1
Alpargatas, the Brazilian parent of the Havaianas, Rothy’s and Ioasys brands, reported net revenue reached Brazil Real (R$)931.8 million in the first quarter, climbing 3.2 percent compared to the same period in 2022. For the flagship Havaianas brand, strength in Brazil offset declines in the U.S. and Europe.
EXEC: Xtep Intl Divests K-Swiss Brand to Focus on Merrell and Saucony in China
The move is designed to carve out the consistently underperforming segment from Xtep’s portfolio, allowing the company to concentrate its resources on developing its highly profitable brands – core Xtep brand, Saucony, and Merrell.
EXEC: Vista Outdoor Sees Another Tough Year Ahead
Vista Outdoor, Inc.’s fourth-quarter results met expectations with sales at its Kinetic Group ammunition segment reaching the lower end of guidance while the Revelyst outdoor segment grew organically for the first time in nine quarters. However, conservative guidance was provided for the new fiscal year as market conditions in both the hunt and outdoor channel remain challenging.
EXEC: Topgolf Callaway CEO Eyes Sales Pickup for Golf Businesses in Back Half
Topgolf Callaway Brands reduced its sales outlook for the year due to weakness at Jack Wolfskin and currency headwinds seen in the first quarter, but officials on an analyst call said that overall profitability came in significantly better than expected and its Topgolf and Golf Equipment segments are both positioned to accelerate growth in the second half.
EXEC: Sportchek, Mark’s and Helly Hansen all Post Q1 Declines for Parent CTC
Helly Hansen sales, which covers the international wholesale and retail businesses that operate under the Helly Hansen and Musto names and trademarks, were down 7.8 percent year-over-year in Q1 to C$192.2 million.
EXEC: Puma CEO Sees U.S. Returning to Growth in Second Half
Puma’s sales in the Americas region returned to growth in the first quarter due to gains in Latin America and overall strength in performance and retro footwear styles. North America delivered sequential improvement and remains on track to resume growth in the second half, Puma officials said on a media call.
