EXEC: Sebago Parent BasicNet Sees Net Profit Drop in H1; Royalties Decline
Royalties from commercial and productive licensees declined 6.4 percent to €32.7 million. Direct sales grew versus the same period in 2022 partly due to the contribution of K-Way France S.a.s, acquired in April 2022, but corresponding royalties from the French subsidiary decreased.
EXEC: Pou Sheng H1 Profits Surge as China Retail Recovers Post-Lockdown
While its parent company was busy warning investors about a sharp decline in profits for the first half tied to a contracting manufacturing business, Yue Yuen’s retail subsidiary was providing good news for the half in a pre-announcement of its own.
Report: Off-Price and Children’s Well-Positioned for BTS Foot Traffic Surge
Following a lull in April and May, the 2023 back-to-school season is giving retail, and especially the wider apparel segment, a major boost, according to new data from Placer.ai.
Newell Brands Outdoor & Recreation Core Sales Fall 21 Percent In Q2
Newell Brands, the parent company of Marmot, Ex Officio, Stearns, Bubba, Coleman, and Contigo, among others, generated net sales of $333 million, down 22.0 percent compared with $427 million in the prior year period. The decline reflects a core sales decline of 20.9 percent, as well as the impact of unfavorable foreign exchange.
Report: Tennis Apparel and Footwear Sales Growing at Double-Digit Pace
In the U.S., sales revenue for tennis apparel increased by 15 percent in the 12 months ended June 2023 and is up 38 percent versus three years ago, according to Circana. Tennis shoe sales grew by 21 percent versus the prior year and increased 37 percent compared to three years ago.
Outdoor Recreation Roundtable Appoints Senior Program Director
Outdoor Recreation Roundtable, the coalition of outdoor recreation trade associations that collectively represents the $862 billion outdoor recreation economy, hired Ambreen Tariq as senior program director.
L.L. Bean to Open Two Stores in Quebec
L.L. Bean reported it will open its first two Quebec stores in Saint-Bruno-de-Montarville and Boisbriand. The outdoor retailer will also launch a French version of its website in Canada.
Moncler S.p.A.’s Revenues Climb 21 Percent In First Half
Moncler S.p.A. reported operating earnings gained 20.9 percent in the first half as sales grew 24 percent. Sales for the Moncler brand jumped 29 percent while sales at Stone Island gained 5 percent.
Vista Outdoor’s Earnings Decline on 14 Percent Revenue Slide
Vista Outdoor, Inc. reported earnings declined 54 percent in the fiscal first quarter ended June 25. Sales dropped 14 percent with sales down 26 percent in the Sporting Products segment while gaining 8 percent in the Outdoor Products segment. The company said results were in line with expectations and reiterated its guidance for the year.
EXEC: Puma CEO Talks Cautious Approach on U.S. Turnaround
Puma SE delivered second-quarter results that topped analyst targets and said it might be able to raise its outlook for the year should the recent momentum in China, Europe and Latin America continue in the third quarter. However, Arne Freundt, Puma’s CEO, was hesitant to forecast a return to growth in the U.S. market due to weak consumer spending.
Gap, Inc. Appoints Board Member as President and CEO
Gap, Inc., the parent company of active lifestyle retailer Athleta, appointed Richard Dickson as company president and CEO, effective August 22, 2023. In November 2022, Gap, Inc. appointed Dickson to its Board of Directors.
WH inc. Hires New Creative Director, Two Other Key Creative Hires
WH, Inc. hired Hart Rusen as new creative director with over 20 years of industry experience, Senior Designer Ari Pal, who joins from Vail Resorts, and Production Designer Chase Kunz, who joins from Microsoft.
Foot Locker to Open First Store in Thailand
Foot Locker reported it is ready to open its first retail store in Thailand after transferring its operations in Singapore and Malaysia to MAP Active earlier this year.
Puma’s Q2 Earnings Down, Sales Up Despite North America Decline
Second quarter earnings declined on higher costs and currency effects despite an 11 percent currency-neutral sales gain for the period. However, earnings topped analyst expectations on strength in China, Europe and Latin America.
U.S. Consumer Confidence Jumps to Highest Level in Two Years
The Conference Board’s monthly Consumer Confidence Index hit 117 in July, rising from 110.1 the month before. The index increased for the third consecutive month, bounding even higher after a sharp upswing in June.
