The company's CEO outlined a number of shortcomings that have created some recent challenges and laid out a future view that includes a more focused approach to performance running and delivering more compelling assortments, particularly when it comes to serving their women consumers, among other key areas. (Read More)
Analysts generally view Peloton and Lululemon's new partnership positively but question how much growth it will drive for the companies. (Read More)
In a recent survey conducted by Beano Brain, Nike ranked #4 in the Top 100 “Coolest Brands” among Gen Alpha in the U.K. and #17 in the U.S. Other vendors making the list in the active lifestyle space included Adidas, Puma, Crocs, Jordan, Under Armour, Champion, and The North Face. (Read More)
In June, Trip Randall, a former long-time Nike executive, became the third CEO in Superfeet‘s 46-year history. He talked with SGB Executive about the outsized growth potential still ahead for Superfeet as well as for the overall insoles category. (Read More)
Analysts at Jefferies downgraded Nike, Foot Locker and Urban Outfitters as survey data shows the resumption of payments on student loans may force families to limit their spending on apparel and sneakers. Nike’s sales are also expected to be pressured by lean inventory disciplines across wholesale channels and macro headwinds facing China. (Read More)
UBS, the global financial services firm, reported it expects the consumer spending environment for softgoods in the U.S. to partly deteriorate over the coming months due to the resumption of student loan repayments in October. Inflation concerns and higher interest rates are among other factors expected to impact consumer spending. (Read More)
Moosejaw, the outdoor specialty retailer acquired by Dick's Sporting Goods in March, is closing 11 of 14 stores in a realignment of Dick's outdoor specialty business, including the company's Public Lands' store concept. Moosejaw’s headquartered in Madison Heights, MI, is also closing. (Read More)
Speaking at Wells Fargo's Sixth Annual Consumer Conference, Academy Sports and Outdoors officials discussed the retail chain's competitive advantages and how it reworked its expansion strategy while rolling out an aggressive strategy. (Read More)
Nike ranked as the world's most valuable apparel brand for the ninth consecutive year, according to Brand Finance's 2023 Annual Apparel 50 Report. Other brands in the active lifestyle space that made the Top 50 included Adidas, at #5; Lululemon, #16; Puma, #19; Anta, #26; Under Armour, #27; The North Face, #28; Moncler, #29; Skechers, #32; Fila, #34; Li Ning, #42; and New Balance, #50. (Read More)
In a bullish report, HSBC said that despite tough conditions expected to continue in the U.S., sales growth and margins should improve for the global sporting goods sector following its “post-pandemic hangover.” Beneficiaries include Adidas, Lululemon and Puma, all rated “Buys” by HSBC while Nike remains at “Hold” due to its U.S. exposure. (Read More)
Shares of Planet Fitness were down again on Monday after crashing on Friday following the exit of its long-time CEO, Chris Rondeau. The surprise departure led to a number of analyst downgrades and downward price adjustments. (Read More)
Clarus Corp.’s executive chairman, the largest shareholder, Warren Kanders, submitted a non-binding bid to acquire the company’s Precision Sports segment, which includes Sierra Bullets and Barnes Bullets brands, for $160 million. (Read More)
At its annual meeting, Nike officials expressed confidence that profitability would bounce back in the coming fiscal year ended May 2024 after markdowns to clear excessive inventories led to a profit shortfall in the prior fiscal year. Execs were also bullish on the brand’s innovation pipeline, structural tailwinds behind the athletics space and its evolving marketplace strategy. (Read More)
In its IPO prospectus, Birkenstock said it sees “ample whitespace to continue growing the Birkenstock brand” by raising brand awareness, production capacity expansion, core and new product portfolio innovation, and a continued DTC shift. (Read More)
Speaking at the Piper Sandler Growth Frontiers Conference, John Vandemore, the CFO at Skechers USA, said the company continues to see strong demand for the brand across its DTC channels but is not seeing any indication that the elevated inventories affecting U.S. wholesale business to alleviate anytime soon. (Read More)
ASO executives covered a wide range of topics in the Fireside Chat at the Goldman Sachs conference, including the promotional climate, the chain’s expanding “good, better, best” pricing strategy and major vendors’ newfound appreciation of wholesale sales. (Read More)
Although a few retailers outperformed in the second quarter, big names in the active lifestyle space fought through a challenging quarter amid promotional pressures, retail theft and the consumer's continued shift away from discretionary purchases. (Read More)
On the company’s second-quarter analyst call, Morris Goldfarb, G-III Apparel’s longtime chairman and CEO, said he sees G-III’s new multi-year license to produce outerwear under the Champion brand presenting opportunities to reach Dick’s Sporting Goods, Foot Locker and other athletic retailers. (Read More)
Zumiez, Inc. reported better-than-expected Q2 results with sales declines lessening further into the third quarter, including men’s, its largest category, turning positive. The action sports chain predicted another high-single to low-double-digit decline for the third quarter but remains hopeful of continued improvement through holiday selling. (Read More)
Shares of Designer Brands Inc., the parent of the DSW, surged 22 percent Thursday after reporting second-quarter results that topped Wall Street targets with both sales and gross margins improving sequentially versus the first quarter. Doug Howe, CEO, said sales were helped by “increasing strength in our casual offerings,” including a strong launch of Le Tigre footwear, and he remains enthused about the return this month of Nike to DSW’s selling floors. (Read More)