With robust growth in China and the U.S. and a healthy reception to its return to performance basketball, Puma SE kicked off the year with its strongest quarter ever. Said Bjørn Gulden, “The growth in all regions and all product divisions shows that we continue to make progress.”
Category: Apparel
Puma’s Q1 Revenues Climb 15 Percent
Puma SE reported earnings jumped 40.1 percent in the first quarter as sales improved 15.3 percent and gross margins expanded 80 basis points. Sales in the Americas grew 16.3 percent on a currency-neutral basis. Bjørn Gulden, CEO, said: “The first quarter of 2019 was the best quarter Puma has ever seen.”
Adidas Extends Eastern Illinois Sponsorship
Eastern Illinois University agreed to a new five-year apparel contract with Adidas that runs through 2024.
Cherokee Global Brands Sees Double-Digit Q4 Growth For Hi-Tec
Cherokee Global Brands reported sales declined 11 percent in the fourth quarter due to a shift from direct-to-retail (DTR) through a wholesale licensing model. A bright spot, however, was the Hi-Tec brand, which delivered a 12 percent gain in revenues year-over-year.
ViewSport Becomes Ironman Sponsor
Ironman has announced a new multi-year global partnership with sports apparel company ViewSport to become the Official Recreational Apparel Partner of Ironman. ViewSport will also be the title sponsor for the Ironman Lake Placid triathlon.
Adidas Extends Kansas Deal Through 2031
The University of Kansas and Adidas announced the extension of their footwear and apparel agreement through 2031. The university said the deal is one of the largest apparel partnerships in college athletics.
Rocky Brands Inc. Ramps Up Reinvestment After Strong Q1
Marketing efforts clearly paid off for Rocky Brands Inc. in the first quarter, with the company reporting a 9.1 percent earnings increase on a 7.4 percent revenue gain, both of which beat Wall Street’s estimates. Now the company plans to double down on that strategy by reinvesting some of the profits from last quarter into a revamped and rejuvenated marketing strategy aimed at taking more share across end markets.
Adidas, Reebok and Patagonia top 2019 Fashion Transparency Index
Three sportswear and outdoor brands – Adidas, Reebok and Patagonia – are leading the way on transparency amongst the world’s 200 largest fashion brands and retailers by disclosing a wide range of human rights policies, commitments and outcomes, as well as who their suppliers are, Fashion Revolution’s Fashion Transparency Index 2019 revealed.
Burlington Stores Announces Leadership Succession Plan
Burlington Stores Inc., the off-pricer, announced a leadership succession plan. The changes include Michael O’Sullivan, formerly president and COO of Ross Stores, Inc., joining the company as CEO in September.
Lululemon Looks To Double-Down on Men’s, Digital And International
Lululemon Athletica, at its first analyst day in five years and first under new CEO Calvin McDonald, unveiled a five-year growth plan to double its men’s and digital businesses and quadruple its international business. Surprises include its planned expansion of fitness accessories, including rollers and training gloves, and its entry into the footwear category.
Lululemon Unveils “Power of Three” Strategic Plan To Accelerate Growth
Lululemon Athletica, which is holding its analyst day on Wednesday, announced a new five-year growth plan that aims to “double men’s, double digital, and quadruple international” revenues. Overall, Lululemon is targeting revenue growth in low teens over the next five years.
Nike Announces Dr. John C. Lechleiter’s Retirement From Board
Nike Inc. announced that Dr. John C. Lechleiter, a director of the company since 2009 and former chairman, president and chief executive officer of Eli Lilly and Company, has decided to retire and will not stand for re-election to the board of directors of Nike Inc. at the September 2019 Annual Meeting of Shareholders.
Consumers Willing To Pay Up For Sustainability
According to CGS 2019 U.S. Consumer Sustainability Survey, more than two-thirds of Americans consider sustainability when making a purchase and are willing to pay more for sustainable products. Gen Z shoppers led the way, with 68 percent having made an eco-friendly purchase in the past year.
Kohl’s To Accept Amazon Returns At All Stores
Kohl’s announced that all Kohl’s stores will be accepting free, unpackaged returns for Amazon customers starting in July.
Saucony Appoints Shawn Hoy As VP Of Product
Saucony, a division of Wolverine Worldwide Inc., announced the appointment of Nike veteran Shawn M. Hoy to vice president of global product, effective immediately. In his new role, Hoy will be responsible for guiding Saucony’s global brand footwear and apparel strategies, including design, development, and product innovation.
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