Author: SGB Executive

Shares of VF Corp. fell $5.98, or 7 percent, to $85.13 on Wednesday after the company reported third-quarter results, apparently due to growth concerns at Vans. Analysts, however, were generally upbeat on the report given that VF was able to raise guidance for the full fiscal year despite the impact of the return of store closures that particularly impacted Vans.

VF Corp. reported sales dropped 5.8 percent in its fiscal third quarter ended December 26 and lowered its full-year revenue outlook on Vans. However, the company raised its outlook for The North Face, lifted its overall earnings and sales guidance for the year and predicted a return to positive growth in the current fourth quarter.

During a keynote session at the virtual NRF Big Show, Doug Mack, CEO and Director, Fanatics discussed how the agility provided by Fanatics’ vertical-commerce (v-commerce) model helped the company make fast adjustments during the pandemic to deliver record sales and profits in 2020.

Despite explosive online growth in recent years and its acquisition of the Mirror at-home fitness platform, Celeste Burgoyne, Lululemon’s president, Americas, and global guest innovation, at the virtual NRF Big Show stressed how critical physical stores are to driving the customer experience.

Deutsche Bank upgraded its rating on Under Armour to “Buy” from “Hold” on the potential for margins to benefit from numerous cost-containment efforts, “green shoots” found across the brand’s product line and tailwinds for the active apparel category overall coming out of the pandemic.

During a session at the virtual NRF Big Show, Bill Quinn, SVP digital commerce at Hibbett Sporting Goods, discussed how the small-town sporting goods chain navigated the increase in online orders during the pandemic and in turn elevated its omnichannel offerings. He said, “The biggest thing that the pandemic did for us is to stress test everything that we had.”

According to The NPD Group, sales across the snow industry are down 7 percent in the first four months of the snow season through the end of November due to continued weakness in apparel. However, a wide range of equipment and accessory categories continue to produce strong gains as select outdoor activities find favor during the pandemic.

At CES 2021, executives from the NFL, NHL, WNBA, and WWE discussed how technology has helped their organizations reach sports fans during the pandemic and save their playing seasons. Advancements involve online or mobile engagement with fans that are expected to continue post-COVID-19.

SGB Executive talked with Erik Burbank, KEEN’s VP KEEN Effect, about how the pandemic has impacted its business, sustainability commitments, outdoor’s surging appeal, the brand’s KEEN.Bellows Flex technology, expanded lifestyle, and kid’s offerings.

At the 23rd Annual ICR Conference, Steven Miller, Big 5’s chairman, president and CEO, provided a rare deep dive into the sporting goods chain on the same day it reported a record year as a wide range of outdoor sports and fitness activities have been embraced during the pandemic. Miller said, “Items were selling out as fast as we could unload the truck.”

At the 2021 ICR Conference, officials at Zumiez Inc. expounded on the rollout of its innovative Zumiez Delivery program, which enables store associates to deliver directly to a customers door in select markets around the U.S. Rick Brooks, Zumiez’s CEO, said “What we’re trying to do is always localize our brand experience.”

At a session held during CES’s first virtual trade show, Lauren Hobart, the president of Dick’s Sporting Goods, (to become President and CEO effective February 1, 2021), discussed her team’s herculean efforts to establish curbside pickup early in the pandemic and how the role of the store has changed. She said, “We went back in March thinking that survival was at risk.”

Genesco Inc. reported same-store sales were down 3 percent in the quarter-to-date period ended December 26, but came in better than expectations due to Journeys’ outperformance. At the 2021 ICR Conference, Mimi Vaughn, Genesco president and CEO, said teen spending continues to hold up well in the face of the pandemic.

Crocs Inc. significantly lifted its 2020 revenue guidance after a robust holiday selling season and predicted growth would sharply accelerate in 2021. At a presentation Monday morning at the 2021 ICR Conference, Andrew Rees, CEO, highlighted sandals, personalization, digital, and China as key growth drivers.

Helen of Troy said sales of Hydro Flask were “challenged” by a soft back-to-school selling season in the third quarter ended November 30 as most U.S. students were learning remotely outside the classroom. Julien Mininberg, Helen of Troy’s CEO, however, on an investor call highlighted a number of growth drivers for Hydro Flask in the years ahead.