Author: SGB Executive

On an analyst call, Dick Johnson, chairman and CEO of Foot Locker, said the acquisitions of WSS and Atmos “fill in some of the white space” available to Foot Locker beyond its core sneaker and sport culture segments. WSS provides a deeper reach into the classics footwear category and the Hispanic demographic. Tokyo-based Atmos provides a strong foothold in boutique streetwear that could kick-start expansion in Asia.

VF Corp. raised its outlook for its fiscal year after reporting results in the first quarter ended June 30 came in well ahead of expectations, helped by signs of recovery at Vans and continued strength in digital. The outlook reflects stronger-than-expected order books for its four primary brands, which also include The North Face, Timberland and Dickies, and strength at two emerging brands, Altra and Smartwool.

Sales grew 80 percent at BOA Technology and more than four-fold at Marucci Sports to lead the branded consumer portfolio gains at Compass Group Diversified Holdings in the second quarter. CODI officials also announced it is exploring an IPO for 5.11.

Led by Merrell and Saucony, Wolverine Worldwide’s second-quarter results came in well above Wall Street estimates. Wolverine officials now expect the current year to show “meaningful” over 2020 and 2019 as many of its categories are trending.

Led by healthy double-digit growth across all segments, Garmin Ltd.’s earnings shot up in the second quarter as sales catapulted 53 percent. Garmin officials significantly increased guidance across segments with growth now pegged at 17 percent for both the Fitness and Outdoor segments.

Winchester’s sales slightly more than doubled in the second quarter. Scott Sutton, chairman, president and CEO of Olin Corp, Winchester’s parent, told analysts on a conference call that the ammunition brand is looking to capitalize on the 57 million new recreational shooting participants that have arrived since the pandemic emerged.

In his quarterly note to shareholders, Martin Nordin, CEO of Fjällräven’s parent Fenix Outdoor International said the company saw continuing improvement in the second quarter in North America, especially with its direct-to-consumer segment sales nearly back to 2019 levels. However, weakness in Kanken backpacks continues to hold back a more meaningful recovery. 

Omega Sports has filed a reorganization plan that calls for the North Carolina-based retailer to reemerge from bankruptcy proceedings around its seven remaining stores and pay off creditors over the next three years.

Crocs Inc. significantly hiked its guidance for the year as robust demand across its clogs, sandals and Jibbitz segments easily offset logistics challenges in part tied to temporary factory closures due to spikes in COVID-19 cases.

At the recently-held NRF Retail Converge, Ken Voeller, director, circular commerce, REI and Karen Campbell, strategic planning and new business development director, Arc’teryx, discussed the ways their expanding resale programs are helping to reach their sustainability goals and customers.

In its mid-year report, StockX revealed another period of explosive growth with the help of expansion into categories beyond sneakers. The report also details the fastest-growing brands across core categories including sneakers, electronics, collectibles, apparel, and accessories. Said StockX CEO Scott Cutler, “There are strong synergies between our core sneaker enthusiasts and those customers who are passionate about apparel, accessories, collectibles, and gaming.”

A new study from the Recreational Boating & Fishing Foundation (RBFF) found that first-time fishing participants climbed to 4.4 million in 2020, a surge of 42 percent year-over-year. Like patterns seen in other outdoor activities, fishing reached new and diverse audiences as individuals picked up the sport as a remedy for COVID-19-related stress and anxiety.

The IHRSA (International Health, Racquet & Sportsclub Association) estimated that the U.S. fitness industry lost $20.4 billion in revenue in 2020, just one year after generating an all-time high of $35 billion, according to the organization’s recently released 2021 IHRSA Global Report. However, the report outlined reasons to be optimistic for the industry’s prospects partly as health became a higher priority during the pandemic.

Deloitte’s 2021 Back-to-School Survey*, found that back-to-school spending at Kindergarten through 12th grade (K-12) will grow 16 percent this year, reaching its highest level in recent years as clarity surrounding the upcoming school year and consumer sentiment rise. Deloitte joins a chorus of others forecasting a strong rebound in back-to-school selling. In a separate survey, Deloitte found a more modest recovery for back-to-college spending, up 5 percent.

Goldman Sachs on Wednesday initiated coverage of the Apparel and Brands sector, rating Lululemon its “top idea” and initiating a “buy” rating on Yeti. In the active lifestyle space, the investment firm has a “neutral” rating on Canada Goose and Gap and a “sell” on VF Corp.