Timberland saw a small sales decline in the second quarter ended September 30 due to the impact of a customer bankruptcy in the workwear channel and the timing of shipments. VF Corp., the brand’s parent, still expects Timberland to show a gain of 2 to 4 percent in fiscal 2019.
Category: Footwear
Aisle Talk Week of October 15
Top headlines from the active lifestyle industry you may have missed this week, including Mammut North America—a division of Swiss-based Mammut Sports Group AG—parting ways with the company’s managing director, Joe Prebich (pictured), for undisclosed reasons.
Skechers Seeing Boost From Chunky Shoe Trend
Shares of Skechers USA rose $3.60, or 13.8 percent, to $29.72 Friday after the company reported earnings topped guidance in the third quarter, thanks to tigher cost controls. A healthy bounce-back was also predicted for the fourth quarter, led by a return to growth in the company’s domestic-wholesale segment with the help of robust demand for the brand’s D’Lites chunky style.
VF Corp. Lifts Guidance On Q2 Beat
VF Corp. raised the company’s earnings and revenue guidance for the year after reporting earnings in the second quarter ended September 29 that easily topped Wall Street’s guidance.The quarterly sales gains were again led by Vans, which jumped 26 percent. The North Face’s revenues grew 5 percent.
Goat Announces Lakers’ Kyle Kuzma As Brand Ambassador
Goat, the marketplace for sneakers, announced a partnership with the Los Angeles Lakers’ Kyle Kuzma as the company’s first Brand Ambassador. The 2018 All-Rookie First Team select will represent Goat on and off the court throughout the NBA season.
Puma Signs DeMarcus Cousins
Puma has officially signed DeMarcus Cousins of the Golden State Warriors after Nike declined to exercise the company’s match rights according to ESPN.
Nike’s CIO Joins Merck & Co
Jim Scholefield, Nike Inc.’s global CIO, is joining Merck & Co. as chief information and digital officer, effective October 29.
Caleres Announces Acquisition Of Vionic
Caleres announced the company has acquired Vionic Group for $360 million, subject to certain adjustments. The acquisition of Vionic allows Caleres to continue to expand the company’s Brand Portfolio and gives the company additional access to the growing contemporary comfort footwear category.
Schuylkill Valley Sports Partners With Celerant Technology On New SSI Data Linked Platform
Celerant Technology, a leading provider of innovative retail and e-commerce solutions, announced that Schuylkill Valley Sports (SV Sports) has become the company’s first client to integrate their weekly SSI Data point-of-sale data reporting through Celerant’s new integration tools that connect seamlessly with SSI Data. Through this integration, SV Sports has easy access to robust marketplace trend reporting tools and reports to help the company compete and grow business.
Skechers Q3 Earnings Dip
Skechers USA reported earnings eased 1.7 percent in the third quarter but results came in slightly ahead of a forecast given in July. Sales rose 7.5 percent, led by double-digit growth in both the company’s international wholesale and worldwide company-owned retail businesses, but came in below targets.
Oppenheimer Upgrades Nike On “Technological Evolution” Promise
Oppenheimer lifted the rating on Nike Inc. to “Outperform” due to the company’s investments in building a “digitally-enhanced” business model that are expected to “enhance most facets of its business.”
New Iconix CEO Resigns From Big 5’s Board
Big 5 Sporting Goods reported Robert Galvin, who was just named CEO of Iconix Brand Group, has resigned from the company’s board of directors.
Moody’s Affirms Bass Pro’s Ratings On Cabela’s Progress
Moody’s affirmed the ratings of Bass Pro after due to improving margins as synergies from the company’s merger with Cabela’s have arrived ahead of plan. Bass Pro’s debt repayments have also been higher than expected since the acquisition closed.
Under Armour Signs Two NBA Rookies: Mo Bamba And Hamidou Diallo
Under Armour signed Orlando Magic rookie center Mo Bamba and Oklahoma City Thunder rookie guard Hamidou Diallo.
Nike And U.S. Olympic Committee Launch Online Training Tool For Coaches
Nike and the United States Olympic Committee, as part of the committee’s commitment to Project Play 2020, announced the release of How to Coach Kids, a free, 30-minute training course on coaching kids ages 12 and under.
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