Fewer major deals were executed across the active lifestyle space in 2023 amid rising interest rates and persistent economic uncertainty but several tuck-ins and smaller to medium-size acquisitions were inked. Still, SGB Media found a few key trends expected to continue into 2024.
Author: Thomas J. Ryan
Thomas J. Ryan
Senior Business Editor | SGB Media
tryan@sgbonline.com | 917.375.4699
SGB 2023 Year In Review: Executive Shuffle
New CEOs at Academy Sports, Adidas, Asics, Gap, Kohl’s, Levi’s, Sportsman’s Warehouse, VF Corp., Vista Outdoor, and Wolverine Worldwide headlined the C-suite moves that transformed leadership across the active lifestyle space in 2023.
In Memorium: Remembering the Active Lifestyle Leaders Lost In 2023
As the year closes, SGB Media remembers the active lifestyle industry business leaders who passed in 2023 and once again acknowledges their contributions to the market.
EXEC: Nike’s Reduced Outlook, Planned Cuts and Market View Takes Broader Market Down
Nike, Inc. announced a broad restructuring program while slashing revenue guidance for its fiscal year amid softening online sales, promotional pressures and heightened macro headwinds, particularly in China and the EMEA. For its fiscal year ended May 31, 2024, sales are now projected to increase only 1 percent against a prior outlook of up mid-single-digits.
EXEC: Report Finds Troubling Core Participation Trend in Team Sports
SFIA’s recently released U.S. Trends In Team Sports Report noted that participation in 16 of 23 team sports tracked by the Association has not returned to pre-pandemic levels, and only one sport, soccer, showed Core Participation gains in the 2019-2022 period. However, the SFIA report offered more encouraging findings in team sports trends.
EXEC: Former Giants Star Carl Banks Plots Starter’s Comeback for G-III Sports
Starter, the U.S. apparel manufacturer whose satin jacket was once a fixture in the 1990s on pro team sidelines and music videos, is readying a large-scale comeback with the help of nostalgia, on-trend product and expanded rights with major league teams. Carl Banks, president of G-III Sports, talked with SGB Executive about the brand’s resurgence.
EXEC: McKinsey Identifies Tech Outerwear Among Hot Fashion Trends For 2024
In its The State of Fashion 2024 study, McKinsey & Co. provided a bullish outlook for technical outerwear, stating the category “has been propelled by consumers post-pandemic embrace of healthier lifestyles as well as ‘gorpcore,’ and is likely to accelerate even further in 2024.”
EXEC: Nike Scores Two Analyst Upgrades
Citi raised its rating on Nike to “Buy” from “Neutral,” while Barclays gave Nike its “2024 Best Idea” recommendation. Both investment firms cited the potential for Nike to have a margin recovery and brand innovation tied to the 2024 Paris Olympics.
EXEC: Craft North America CEO Talks Gaining Traction in Run Footwear
In late November, Craft Sportswear announced plans for a phased relocation of its North American headquarters to Seattle, WA, in 2024 to bolster the brand’s expansion into outdoor and specialty retail and its recent entry into running footwear in the U.S. Craft North America CEO Eric Schenker talked with SGB Executive about Craft Sportswear’s heritage, the run footwear opportunity, and why the CEO has chosen not to move to Seattle.
EXEC: Lululemon’s Tepid Holiday Guidance Overshadows Strong Q3
Lululemon Athletica, Inc. lifted its overall full-year outlook after earnings and sales in the third quarter ended October 29 topped guidance for the third straight quarter but also forecast fourth-quarter guidance that came in lighter than expected in an apparent sign to investors of a potential sales slowdown.
EXEC: Sports Direct Gets Fiscal H1 Boost from New Brands
Frasers Group reported retail revenue increased 4.0 percent in the first half ended October 29 to £2.69 billion ($3.4 bn), helped by a “strong underlying performance” from Sports Direct due in part to the addition of new brands, including On Running, The North Face, Columbia Sportswear and Salomon.
EXEC: Dick’s SG Sees Differentiation Reaping Dividends
Speaking Tuesday at the 2023 Morgan Stanley Global Consumer & Retail Conference, Navdeep Gupta, EVP and CFO at Dick’s Sporting Goods, elaborated on how the retailer’s efforts to further differentiate itself both within product and the store experience is driving market share gains.
EXEC: Wells Fargo Shifts to Nike from Lululemon as Top Defensive Stock Pick
On Monday, Wells Fargo replaced Lululemon with Nike as its “Top Defensive Pick” among its stock coverage in the active lifestyle space. It also downgraded Lululemon and raised its price target on Nike.
EXEC: Eddie Bauer’s CEO Discusses Modernized Rebrand
Eddie Bauer introduced a new brand evolution and redesigned its logo in September, including bringing back “the goose.” Tim Bantle, Eddie Bauer’s CEO, talked with SGB Executive about the refreshed look of the 103-year-old brand, re-embracing its outdoor roots and its heightened focus on wholesale.
EXEC: Asics Expands 2026 Plan as Company Drives Past 2023 Targets
Asics Corp. has outlined goals that sees the Japanese performance footwear and apparel company returning to the lead in market share in the run specialty channel in North America by 2025, and a new focus on regional profitability.
SGB Today
Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners
Post your Product or Marketing News in the SGB PR Portal