On Adidas’ third-quarter conference call with analysts, Bjorn Gulden, CEO, said Adidas’ sales in the U.S. “will probably not grow at all in the first half” of 2024 as North America lags other regions in rightsizing inventory levels. He said, “Inventory levels in the U.S. in general is still an issue. I think it lags about six months versus the rest of the world.”
Category: Footwear
EXEC: Inside Wolverine’s Plan for the Future—and the New Realities of 2023
New CEO Chris Hufnagel said WWW continues to reshape its portfolio, reduce inventory and redesign the company to become consumer-obsessed brand builders, focused squarely on building compelling products and telling amazing stories.
OrderMyGear Acquires DistributorCentral
OrderMyGear (OMG), based in Dallas, TX, announced it acquired DistributorCentral, a technology provider for suppliers and distributors in the promotional products industry.
Zanders Sporting Goods Hires Sales Manager
Zanders Sporting Goods, a national distributor in the hunt and fish channel located in Sparta, IL, hired Jeff Krieg as sales manager following the promotions of Danny Siegler to president and COO and Lucas Poston to director of procurement.
Dillard’s Comps Slide 6 Percent in Third Quarter
At Dillard’s, Inc., profits declined 17.3 percent in the third quarter ended October 28 as same-store sales fell 6 percent on weakness in juniors’ and children’s apparel.
Kohl’s Lays Out Board of Directors Transition Plan
Board Chair Peter Boneparth will retire from Kohl’s at the end of his current term in May 2024, and Michael Bender will become Board chair upon Boneparth’s retirement. The Board also appointed Adolfo Villagomez as a new independent director, effective November 7
CTC Sees Helly Hansen Sales Up Big in Q3; SportChek Q3 Comps Down
Parent company Canadian Tire reported SportChek’s Q3 comparable sales were down 7.4 percent as strong growth in team sports was offset by weakness in more discretionary categories. Helly Hansen revenue was up 28.2 percent in Q3.
Wolverine World Wide Accelerates Transformation Plan as Q3 Plummets
The acceleration of the initiatives comes as the company reported dismal third quarter results that reflected an ongoing business that was down in strong double digits across most of the enterprise.
Altra Launches VIA Olympus 2
Altra launched the VIA Olympus 2, the second iteration of its max cushion shoe.
Allbirds’ Q3 Revenues Drop 21 Percent
Allbirds, Inc. reported a loss of $31.6 million in the third quarter ended September 30 on a 21 percent revenue decline. However, sales were in line and the adjusted loss topped guidance and the eco-friendly footwear brand said it’s making progress under its transformation plan.
Timberland’s President to Depart
VF Corp. confirmed that Susie Mulder, Timberland’s global brand president since April 2021, is departing the company. Nina Flood, currently VP/GM of Timberland EMEA, will assume the role of Timberland president on an interim basis.
EXEC: Under Armour Can’t Dodge North American Turbulence
Under Armour reported sales and earnings in the fiscal second quarter ended September 30 topped analyst targets, but annual sales guidance was reduced due to further deterioration in the North American wholesale business. CEO Stephanie Linnartz told analysts, “Several forces are at play here, including inflation and consumer confidence, normalizing inventory levels amid still broad promotions, and overall softness in our future wholesale order book.”
Outdoor Market Alliance To Host Third Fall Denver Market Week
A collective of 25 independent sales and marketing agencies representing over 175 outdoor and active lifestyle brands, OMA will host its third fall market week series from November 13-17 and November 27 through December 2.
Norrøna Opens Headquarters in Lysaker, Norway
Norrøna opened its global headquarters, over 8,200 square feet, which includes the brand’s largest store, an event space and the company’s newest venture into the restaurant industry, with the Naturen Brasserie, in Lysaker, Norway.
NRF Economist: Holiday Sales Will Have a ‘Whole New Set of Dynamics’
NRF Chief Economist Jack Kleinhenz said job gains have “slowed but not tumbled,” with payrolls climbing by 150,000 positions in October and the three-month moving average at 204,000 despite downward revisions for August and September.
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