Dick’s to Close Nearly All Moosejaw Stores

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.

EXEC: Nike Retains Top Spot as Most Valuable Global Apparel Brand

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.

EXEC: HSBC is Bullish on Adidas, Lululemon and Puma; Still Holds on Nike

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.

EXEC: Nike Confident In Profit Recovery in FY24

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.

EXEC: Inside Birkenstock’s Growth Plans

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.

EXEC: Skechers Notes Continued Pressure in U.S. Wholesale Business

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.

EXEC: Zumiez Hopeful for Holiday Selling After Q2 Beat and BTS Momentum

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.

EXEC: DSW Parent Gets Lift from Casual Offerings, Nike’s Early Return

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.