Author: SGB Executive

“Athleta is uniquely positioned to win because we sit at the intersection of a number of exciting consumer trends,” said Mary Beth Laughton, president and CEO, Athleta, during Thursday’s Investor Day presentation of its parent, The Gap Inc. The event outlined the brand’s goal to double Athleta’s sales to $2 billion by 2023 from $1 billion currently. (Read More)

The pending acquisition of Easton Diamond Sports is expected to particularly boost Rawlings’ capabilities in the baseball and softball bat category, but Mike Thompson, Rawlings’ chief marketing officer, told SGB Executive he expects the combination will accelerate innovation across a wide range of categories for both brands and help grow the game of baseball. (Read More)

According to the fifth edition of PwC’s Sports Survey, growth in the broader sports industry, including sports federations, broadcasting and marketing, is expected to decline significantly over the next few years with many industry execs not expecting a full recovery until 2023 or later. PwC wrote in its study, “Like all industries predicated on events and mass gatherings, the unprecedented health crisis brought about by COVID-19 has impacted the sports market at its very core." (Read More)

Winnebago Industries, seeing continuing strong demand for outdoor recreation, reported revenues jumped 39.1 percent in the fourth quarter ended August 29, to $737.8 million. Excluding Newmar, which was acquired in the first quarter of fiscal 2020, organic sales climbed 15.3 percent. (Read More)

An SFIA webinar headlined by executives at LeagueSide and Morning Consult provided optimism from community youth sports organizations on recovery as teams returned to play over the summer and early fall. However, a warning about potential disruptions as winter sports gets underway was also heard. (Read More)

Bank of America Merrill Lynch upgraded Foot Locker to “Buy” as the investment firm believes Foot Locker’s momentum improved significantly over September and October, given a shift in back-to-school sales in part due to Nike product momentum. Long-term, Foot Locker is expected to benefit from Nike’s moves to tighten wholesale distribution. (Read More)

Baird Equity Research and Truist Securities both raised their price target on Peloton Interactive due to the continued adoption of at-home fitness as households quarantine during the pandemic. (Read More)

At a State of the Industry Roundtable at SFIA’s “Back on Track: Insights and Strategies” virtual conference, top executives at Walmart, Molten, HanesBrands, and Technogym indicated the industry continues to adjust on the fly to the continued uncertainties presented by COVID-19 and said enhanced communications across stakeholders has become critical to managing amid the crisis. (Read More)

Hydro Flask returned to growth in Helen of Troy’s second quarter ended August 31 “as more people return to the outdoors” with strong growth online and internationally. Incremental marketing investments are planned for the fiscal second half to support accelerated momentum for the water bottle brand. (Read More)

Nike and Lululemon were again the big winners in the active lifestyle space in Piper Sandler’s 40th Biannual “Taking Stock With Teens” Fall 2020 Report*. Overall, athletic apparel and athletic footwear continue to gain mindshare among younger consumers according to its findings. (Read More)

Bank of America reinstated coverage of Lululemon with a "Buy" rating. Wrote analyst Lorraine Hutchinson in a note, "We view LULU as one of the best growth stories in retail and expect the brand to be a winner in a COVID and post-COVID environment." (Read More)

Cowen upgraded Canada Goose to “Outperform” from “Market Perform” as analyst Oliver Chen believes the outerwear brand is well-positioned as an outdoor resource amid the pandemic, a leading brand in stores and a likely strong beneficiary of China as it recovers faster than other regions. (Read More)

A survey of small- to medium-sized retailers commissioned by PayPal found that 20 percent of respondents felt that their future depended on sales generated from this year’s holiday selling season. Other surveys explored how retailers are preparing for the potential of a second wave of the coronavirus, rent relief, an early holiday selling season, and their frustrations with e-commerce. (Read More)

REI Co-op launched an ambitious new climate platform that will see the Co-op more than halve its carbon footprint over the next decade while also completing a 14-year commitment to be carbon neutral in its operations in 2020. Here, SGB Executive talked with REI’s President and CEO Eric Artz about the retailer's stepped-up climate goals, what it means for the Co-op's strategic partners and community, and how REI's business has adjusted to the economic disruptions from COVID-19. (Read More)

Nike Inc. delivered essentially flat sales in the first quarter ended August 31, recovering from a 38 percent slide in its fiscal fourth quarter, due to the coronavirus pandemic. Online sales continued to accelerate, climbing 82 percent, to offset still eroding store sales. (Read More)

In what sounds like bad news for shoelaces, Compass Diversified (CODI) told analysts its acquisition of BOA Technology is supported by its belief the BOA’s growth is just getting started. BOA's sales from 2017 through 2019 grew at an 18 percent CAGR. (Read More)

Modell’s Sporting Goods Inc., after nearly six months in bankruptcy proceedings, filed its Chapter 11 liquidation plan that calls for unsecured creditors, including trade vendors with claims, to recover less than one percent of their claims. (Read More)

At the International Health, Racquet & Sportsclub Association’s (IHRSA) Innovation Summit held virtually last week, the theme was “Reimagine. Reinvigorate. Rebuild.” The loudest call, however, was the elevated messaging around both the safety and the health benefits of fitness clubs and letting members know that it’s safe to return to their favorite gym. (Read More)

Underscoring its commitment to expanding athleisure assortments, DSW has partnered with Reebok to sell apparel for the first time. A collection was introduced Thursday on its website DSW.com. (Read More)