The Running USA Global Runner Survey was based 7,400 runners and event participants, was conducted over June and July 2024. Brooks and Asics again ranked as the preferred running and training footwear brands by respondents.
Thomas J. Ryan
Senior Business Editor | SGB Media
tryan@sgbonline.com | 917.375.4699
The Running USA Global Runner Survey was based 7,400 runners and event participants, was conducted over June and July 2024. Brooks and Asics again ranked as the preferred running and training footwear brands by respondents.
Parker has been Chairman since April 3, 2023, and first elected to Disney’s Board in early 2016. The Executive Chairman of Morgan Stanley, James P. Gorman, will succeed Parker.
Houlihan Lokey’s “Active Lifestyle Market Update” for the second quarter shows M&A activity in the active lifestyle space has rebounded strongly from a “muted” 2023, “supported by increasing confidence, renewed financing market activity, and a return of mega deals.”
Nike has tasked Angela Dong, Nike’s top executive in Greater China, with overseeing its outdoor sub-brand, All Conditions Gear (ACG), as Nike revisits its opportunity in the outdoor space to revive growth.
At an investor event held in Shanghai, Lululemon Athletica officials did not provide any major updates on progress in reviving North America revenues, but analysts told SGB Media that officials laid out a convincing strategy to reach its goal of having international ultimately represent half of sales, fueled predominately by China Mainland.
Nike scored its first rating upgrade since news arrived of Elliot Hill’s appointment as CEO. Truist Securities’ Joe Civello believes Nike’s increasingly veteran-driven management team can revive the brand’s marketing and innovation, including better promoting Caitlin Clark, while continuing to repair wholesale relationships. Civello also cited selling direct on Amazon as a “game-changer” opportunity.
SFIA’s 2024 U.S. Trends in Team Sports Report included some concerning findings, including continued deterioration in Core participation, but overall had more positive findings than negative.
Piper Sandler’s 48th semi-annual Taking Stock With Teens Survey for Fall 2024 latest teen survey found Nike, Lululemon, Converse and Crocs highly popular but losing mindshare. Adidas, Hoka, On, New Balance and Ugg have gained in popularity.
SGB Media wraps up the fiscal second quarter for footwear sales, as retailers generally delivered a healthy performance across the specialty, family footwear, and sporting goods space—with many helped by strength in athletic brands and a good start to back-to-school selling.
Vista Outdoor Inc. entered into a definitive agreement to sell its Revelyst outdoor segment to funds managed by Strategic Value Partners and amended its merger agreement with Czechoslovak Group (CSG) to acquire The Kinetic Group ammunition-related segment.
Shares of Nike, Inc. fell about 7 percent on October 2. SGB Media spoke with eleven Wall Street analysts to explore Nike’s turnaround prospects. Several remain bullish on Elliot Hill’s return as CEO; however, a return to healthy growth might only happen in calendar year 2026.
On Nike’s first-quarter analyst call, Matt Friend, EVP and CFO, said Nike is finding success with some new products, particularly in running, and the hiring of Nike veteran Elliott Hill as CEO was enthusiastically received by Nike’s employees. However, he warned that business conditions worsened in the quarter with online traffic, retail sales across the marketplace and spring orders all coming in lighter than planned.
Several analysts expect Nike will lower guidance for the second straight quarter when it reports first-quarter results after the market’s close on Tuesday due in part to weakness in China but also to lower the bar for incoming CEO, Elliott Hill.
Shares of Under Armour rose nearly 20 percent Thursday after the company notched a surprise quarterly profit before litigation-related charges as both gross margins and North America’s sales performance exceeded expectations. Under Armour slightly raised its outlook for the year.
Brazil’s Vulcabras reported sales increased 5.1 percent to of R$761 million ($136 mm) in the second quarter with growth across its Olympikus as well as licensed Mizuno and Under Armour brands.