VF Corp. underperformed in the fiscal second quarter, missing EPS and revenue estimates due to headwinds ranging from unfavorable currency exchange to geopolitical unrest in Hong Kong to the ongoing trade war between the U.S. and China. But one of the bright spots for Denver, CO-based VF amid the mixed quarter was The North Face, specifically the brand’s new, potentially game-changing innovation.
Author: SGB Media
Rocky Brands Outlines Tariff Mitigation Tactics
More than half of the footwear that Rocky Brands Inc. imports is made in Chinese factories, so the fourth tranche of tariffs that went into effect in September should place significant pressure on the company’s bottom line beginning in Q4. But, like many others entangled in the trade war, the Nelsonville, OH-based company is working to mitigate the effect of tariff increases on its balance sheet. Here’s what Rocky Brands is planning.
Aisle Talk Week Of October 21
Top headlines from across the active lifestyle industry featured in SGB during the week of October 21, 2019.
VF Misses Wall Street’s Targets In Q2
VF Corp. reported earnings per share on an adjusted basis in its fiscal second quarter rose 6 percent but came in below Wall Street expectations. The company reiterated its guidance for the year. Among major brands on a currency-neutral basis, Vans again led the way, up 16 percent; followed by The North Face, up 10 percent; and Timberland, 1 percent. Dickies was was down 3 percent.
LEM Helmets Adds East Coast Warehouse
Lem Helmets, the manufacturer of cycling helmets, is expanding its operations in the U.S. with the recent addition of an east coast warehouse and distribution facility.
ABG To Acquire Barneys New York
Authentic Brands Group (ABG) on Thursday afternoon announced that it has emerged as the successful bidder to acquire Barneys New York. Financial terms of the deal weren’t disclosed, but Barneys, the luxury chain that filed for bankruptcy in August, last week reached an agreement to sell its assets to ABG and investment bank B. Riley Financial for $271.4 million.
VP Mike Pence Criticizes NBA, Nike For Kowtowing To China
U.S. Vice President Mike Pence on Thursday took a jab at the National Basketball Association and Nike Inc. for kowtowing to China’s communist regime following the recent dust-up between the league and the nation.
Winnebago CEO: Demise Of RV Lifestyle ‘Exaggerated’
Recent news from the recreational vehicle industry might lead some to believe that it’s doomed, but Winnebago Industries Inc. CEO Michael Happe has a much more upbeat market outlook. Though RV shipments are down and Winnebago just saw its fiscal fourth-quarter revenue dip, a combination of other key factors has Happe and his team optimistic about the company’s prospects.
Skechers Distributes New Shoes To Storm Victims In The Bahamas And Houston
Beginning this month, the company plans to distribute thousands of pairs of new shoes to Hurricane Dorian victims in the Bahamas and Storm Imelda-affected families in Houston.
Deckers Brands Raises Full-Year Outlook On Accelerated Momentum At Hoka
Deckers Brands raised its full-year guidance after reporting both earnings and sales for the second quarter topped company guidance due to strength at Hoka One One. Hoka delivered a 49.9 percent year-over-year gain in the quarter. Ugg’s sales grew 2.2 percent while Teva’s moved up 6.7 percent.
Holiday Shoppers Plan To Spend 4 Percent More This Year
Consumers say they will spend an average of $1,047.83 this holiday season, up 4 percent from the $1,007.24 they said they would spend last year, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.
Five New States Commit to Outdoor Recreation Principles
Outdoor recreation leaders from Maine, Michigan, Nevada, New Mexico and Virginia committed to advance the principles contained in the Outdoor Recreation Industry Confluence Accords, on behalf of their governors, at a signing ceremony Thursday. That brings the total number of states to 13.
Nike and Ocean Conservancy Announce New Arctic Shipping Pledge
Nike Inc. on Thursday announced it has teamed up with the Ocean Conservancy to launch the Arctic Shipping Corporate Pledge, inviting businesses and industry to join in a commitment against shipping through the Arctic Ocean.
Adidas Opens New Oxford Street Flagship Store In London
Adidas on Thursday opened the doors of its new Oxford Street flagship store in London. The retail shop combines digital innovation, unique shopper experiences and a focus on in-store experts to create a new benchmark in retail.
Vista Outdoor Names Pearl Izumi’s Chris Sword President Of Bell/Giro
Vista Outdoor Inc. on Thursday named Chris Sword, formerly president of Pearl Izumi, as president of Bell/Giro, effective October 30.
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