Author: SGB Executive

Nike’s shares are trading lower on Tuesday after Citigroup reduced its rating and price target amid growing consumer boycotts in China. (Read More)

Shares of Peloton Interactive were down about 9 percent in mid-day trading Monday after the U.S. Consumer Product Safety Commission (CPSC) in an unusual move warned people to stop using the company’s Tread+ "immediately" if they have children or pets in the home, citing 39 incidents including one death.  Peloton called the warning "inaccurate and misleading" but some analysts felt the heightened safety concerns could slow subscriber growth. (Read More)

At the JP Morgan Retail Round-Up, Academy Sports’ officials said strong sales momentum continues for many pandemic-boosted categories but they also spent time elaborating on the chain’s efforts to strengthen partnerships with Nike, The North Face, Adidas and other key brands. (Read More)

REI Co-op logged a net loss of $34.5 million in 2020 and sales on a Proforma basis were down 8 percent. However, the retailer was able to exceed its pandemic-adjusted targets and finish the year in a strong financial position, said Kelley Hall, REI SVP and CFO, in an interview with SGB Executive. Sales have also seen a resurgence since the initial pandemic-driven store closures and momentum has continued into 2021. (Read More)

JD Sports Fashion, Britain’s biggest sportswear retailer, predicted profits would rebound more strongly than expected in 2021 as stores reopen after lockdown and its aggressive expansion in the U.S. shows early signs of paying off. (Read More)

Studies continue to predict the pandemic will likely change behaviors in the years ahead, including an expected greater focus on physical and mental health. A notable weight gain was seen by most Americans as well as continued stress also points to opportunities for brands supporting active lifestyles. (Read More)

In an extensive interview with SGB Executive, Steve Lawrence, EVP and chief merchandising officer, Academy Sports + Outdoors, discusses how the many drivers of the retailer's 16.1 percent same-store gain in 2020 will support growth in 2021 and beyond. (Read More)

The athletic apparel and athletic footwear categories again grew mindshare among the Gen-Z generation, led by increased interest from girls, according to Piper Sandler’s 41st Biannual Taking Stock With Teens Spring 2021 Report. Nike and Lululemon were again the big winners in the active lifestyle space. Other brands increasing in popularity among teens were Crocs, Shein and PacSun, while Vans and Adidas lost ground. (Read More)

Inventory levels were just as hot a topic as sales and margins on recent quarterly investor calls as delays caused by congestion at the nation's ports risk restraining top-line growth in the months ahead. Here is a roundup of recent discussions on analyst calls regarding inventory flow. (Read More)

Lululemon Athletica reported same-store sales climbed a better-than-expected 21 percent in the fourth quarter as online sales continued to vault. Robust sales guidance is again seen for the current year as Lululemon officials expressed confidence that the pandemic has accelerated growth opportunities. (Read More)

Academy Sports + Outdoors Inc. reported fourth-quarter earnings jumped four-fold to come in well above Wall Street's target as sales momentum continued across numerous categories and apparel rebounded. Academy officials were also optimistic that many trends would continue to boost its 2021 results. (Read More)

Omega Sports Inc., based in Greensboro, NC, filed a bankruptcy petition in Charlotte, NC with a plan to reorganize around its remaining seven stores. Vendors holding sizeable unsecured claims in the bankruptcy include New Balance, owed $261,110.17; Brooks Sports, $248,424; Under Armour, $225,620; and On Running, $159,318.65. (Read More)

At its Investor Day event, Nautilus Inc. laid a long-term strategic plan to nearly double sales by 2026 as it looks to take advantage of the dramatic shift toward at home-fitness. Shares of Nautilus, however, remain under pressure due to a weak outlook for margins. (Read More)

SFIA's 2021 Manufacturers Sales By Category Report shows double-digit solid sales gains across golf, camping, firearms, and fleece, but the fitness equipment category saw the most significant gain boosted by the home-fitness craze. (Read More)

Winnebago Industries reported earnings soared in the second quarter ended February 27, and backlogs are running ahead in triple-digits for both its Towable and Motorhome segments. Winnebago told analysts it does not see a slowdown even as other forms of travel slowly reopen to consumers. (Read More)

Shares of Nike slid $5.68, or about 2 percent, Friday after it reported third-quarter sales missed Wall Street's target due to port congestion in North America and store closures in the EMEA region—both tied to COVID-19. However, analysts generally believe the underlying demand for Nike's products remains strong and see top-line momentum resuming in the quarters ahead. (Read More)

Foot Locker, Bass Pro and REI all landed among the top-ten retailers on CI&T’s Connected Retail Report. Foot Locker stood out for its 'fun and engaging" website while Bass Pro and REI ranked high for their overall shopping experience. (Read More)

Nike’s sales in the third quarter ended February 28 came in below Wall Street’s targets as container shortages and port delays impeded the North America wholesale business. However, Nike said demand for its products remains strong and inventory flows are expected to improve, with much of third quarter’s miss expected to be made up in its fourth quarter. (Read More)

With Americans thirsting to get outdoors during the pandemic, L.L.Bean recorded its best annual sales growth in nearly a decade. Annual net revenue totaling $1.59 billion, a 5 percent increase over 2019, its best showing since 2011. (Read More)

Designer Brands, the parent of DSW, said athleisure and athletic styles again delivered double-digit growth due in part to ramped-up inventory investments over the last year. Weakness in dressier and formal styles due to pandemic led to a 20.1 percent overall comp decline for the company. (Read More)