Author: Thomas J. Ryan

A survey from Citi Research taken in September found that Nike and Adidas are back in favor with Chinese consumers following an uproar in March with several Western companies over their stance on China’s Xinjiang region.

Boosted by strong gains from Rip Curl and Oboz, Kathmandu Holdings Ltd. saw revenues jumped 15.1 percent in the fiscal year ended July 31, to NZ$922.8 million ($654MM). On an analyst call, CEO Michael Daly said the goal is to establish Rip Curl as the number one surf brand in Australasia and a top-three brand in North America and Europe and expand Oboz into a U.S. $100 million business in the medium term.

Retailers broadly delivered second-quarter results that handily topped Wall Street’s targets and lifted their 2021 guidance as sales momentum remained resilient. However, supply chain concerns, marked by port congestion and recent factory shutdowns in Vietnam that could limit second-half growth, were widely discussed on recent quarterly calls. Insights from Dick’s SG, Hibbett, Academy Sports, Big 5, Macy’s, Kohl’s, Foot Locker and Lululemon follow.

According to a number of forecasts, holiday sales this year are expected to expand at least seven percent year-over-year. However, supply chain disruption, inflation and labor shortages continue to present challenges. Holiday insights from AlixPartners, Deloitte, Mastercard SpendingPulse, Bain, Affirm and Shopkick

Analysts issued largely bullish reports following Crocs unveiling a five-year plan at its Investor Day that calls for a nearly tripling of its sales, driven by major growth targets in digital, sandals and China.

Sweden’s Dometic Group AB, a maker of accessories for motorhomes, caravans and boats, said on Friday it had agreed to buy U.S. cooler giant Igloo Products Corp. for $677 million. Juan Vargues, Dometic’s CEO, said, “North America is the largest market for cooling boxes and outdoor products, and with Igloo’s strong brand recognition, consumer knowledge and local manufacturing capabilities, we are getting the necessary tools to further drive our sales and margin expansion.”

On Wednesday, On blew open the doors in its initial public offering (IPO) debut, with its shares vaulting 46 percent on the day. The funding is expected to support its next stage of growth. Here, co-CEO Marc Maurer discusses the benefits expected from the initial public offering, the brand’s commitment to run and its growth prospects.

Speaking at CL King’s 19th Annual Best Ideas Conference, Vista Outdoor’s management expounded on the rationale behind the acquisition of golf simulator Foresight Sports and provided a bullish outlook on the growth potential in ammunition despite current inventory challenges.

In an interview with SGB Executive, Steve Lawrence, EVP and chief merchandising officer, Academy Sports + Outdoors, discussed the chain’s second-quarter performance marked by a comparable sales gain of 11.4 percent on top of a year-ago gain of 27.0 percent as well as management’s bullish outlook for the second half.

BTIG lowered its rating on Nike Inc. to “Neutral” from “Buy” on its belief that supply chain disruptions from the pandemic-driven factory shutdowns in Vietnam have worsened since the company last reported earnings on June 24.

Academy Sports + Outdoors sharply raised its outlook for the year as it reported record sales and earnings in the second quarter and continues to see a healthy uptick in demand for active lifestyle pursuits that began with the pandemic’s emergence. Academy officials also indicated that the chain has been able to get back in stock in most categories, including fitness and bikes, despite extensive supply chain constraints.

The Sports & Fitness Industry Association (SFIA) released its 2021 State of the Industry Report showing that despite COVID-restrictions, sporting goods sales overall were able to recover to post a small, but positive, growth rate in 2020.

In the prospectus for its initial public offering, IFit Health & Fitness identified seven growth drivers designed to capitalize on the expanding connected fitness marketplace.

Genesco Inc.’s recovery gained further momentum in the second quarter with strong gains at Journeys and its U.K.-based Schuh chain, but officials warned that supply chain disruption continues to deplete inventory levels and is expected to drive higher freight costs in the quarters ahead. Said Mimi Vaughn, president and CEO, “We’re seeing good product flow right now, but it’s lower than we would like.”

Allbirds, which, on Tuesday, filed for an initial public offering, expects to grow by expanding across categories, raising brand awareness, deepening its engagement with consumers, and opening “hundreds” of additional stores. The San Francisco-based manufacturer wrote in its prospectus, “We believe there is continued opportunity to grow our closet share as we further expand our brand and product selection.”