Retail drove DTC performance with 23 percent growth, supported by 24 net new store openings and high single-digit comp sales growth and double-digit comp growth in Q4. Wholesale channel sales declined 4 percent year-over-year.
Author: SGB Executive
EXEC: Zumiez CEO Details Strong Q4 Progress Across Softgoods Categories
The Men’s category maintained its positive momentum through year-end, delivering growth for the fifth consecutive quarter. The women’s category, became the largest growth category for the quarter. Skate Hardgoods were a drag.
EXEC: Are Canadians Boycotting Western U.S. Ski Destinations?
The impact of tariffs and a trade war with Canada may be having an effect on the season as data suggests Canadians may have changed their travel plans in a protest response to the implementation of Trump’s tariffs and threats of annexation.
EXEC: Tilly’s, Inc. Expects Little Tariff Impact; Merchandising is Bigger Issue
Total foruth quarter comparable net sales, including both physical stores and e-commerce, decreased by 11.2 percent relative to the comparable 13-week period ended February 3, 2024, but have turned positive as weather improves.
EXEC: New Kohl’s CEO Kicks Off Turnaround Effort; Sees Private Label as Key
Asked about the balance between private label and national brands by an analyst, new CEO Ashley Buchanan emphasized that the customer will ultimately determine the mix, with a focus on delivering quality and value.
EXEC: Solo Brands Ends 2024 with $12M in Cash; Sees Credit Compliance Doubtful
Subsequent to the end of the year, Solo Brands drew down $277.3 million on its revolver, which matures next year on May 12, 2026. CFO Laura Coffey said the company expects to experience difficulty remaining in compliance with the financial covenants in its credit agreement.
EXEC: Allbirds Beats Estimates on Top-Line Decline, Shrinks Net Loss
Net revenue for the fourth quarter decreased 22.4 percent to $55.9 million, at the mid-point of the company’s prior guidance. The full-year impact of these actions was just over $22 million.
EXEC: Puma SE Expands Q4 Profits; Full Year Weakness Leads to Job Cuts Talk
Full year net income decreased 7.6 percent year-over-year to €281.6 million in 2024 and sales increased by 2.5 percent to €8.82 billion for the year.
EXEC: Vail Resorts CEO Lauds Season Pass for Business Stability in Q2
The strong Q2 execution was able to deliver a beat on the bottom line as EPS of $6.56 per share surpassed the Street’s consensus estimate by 25 cents per share even as the revenue line ($1.14 billion) missed by $2.36 million.
EXEC: Puma SE Forecast Q1 Sales to Decline on Weak U.S. and China
For the first quarter, Puma said it anticipates currency-adjusted sales growth to be down in low-single-digits versus the 2024 Q1 level, primarily due to a soft performance in the U.S. and China.
EXEC: Dick’s SG Shares Decline as Street Worries About Weaker 2025 Outlook
Dick’s posted a 5.2 percent comp store sales increase for the 2024 fiscal year, cycling against a 2.6 percent comp sales gain in the 2023 fiscal year. The retailer expects full-year comp sales growth from 1.0 percent to 3.0 percent for fiscal 2025.
EXEC: February FW Factory Shipments Soar as Key Factories Post DD Growth
Yue Yuen’s manufacturing business, which boasts Adidas, Merrell, Asics and many others as key customers, posted a 14.9 percent increase in February, and Feng Tay, a major Nike supplier, returned to positive territory delivering 11.4 percent growth year-over-year after a decline in January.
EXEC: Sebago Parent BasicNet Gets DTC Lift for Positive 2024
The Turin, Italy-based parent of the Kappa, Robe di Kappa, K-Way, Superga, Briko Jesus Jeans, Sabelt, and Sebago brands said Direct sales grew 4.2 percent to €346.8 million in 2024, while Royalties fell 2.2 percent year-over-year.
EXEC: Liberated Brands Auction Process Approved
All bids are due Monday, March 10, at 5 p.m. ET. If there are two or more bids, an auction will be held on March 17, with a hearing to approve the buyer proposed for March 24.
Adidas Inks Liverpool Football Kit Deal Rumored at £300 Million
British media reports suggest the deal is a five-year agreement worth over £60 million ($77.4 million) per year. Adidas last provided the kit deal with the LFC from 2006 through 2012. Nike has held the deal since 2020.
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