While Vans disappointed, VF Corp. saw a robust revenue performance in the fourth quarter by The North Face and Timberland while profits came in better-than-expected due to payback from its Reinvent transformation program. Outerwear as a “standout” for TNF while Timberland’s sales surged 34 percent on a currency-neutral basis in the Americas region.
Category: Footwear
Crocs, Inc. Moves Reilly to Corporate EVP and CBO; Heydude Needs a Leader
Reilly, formerly president of Heydude, will take over the role of corporate EVP and chief brand officer, including oversight of marketing and communications for the Crocs and Heydude brands. Andrew Rees, Crocs’ CEO, will serve as the interim president for the Heydude brand.
Urban Outfitters Profits Jump in Q1
The retailer reported profits jumped 75.4 percent in the first quarter as comps at its Retail segment increased 4.8 percent. Total company net sales for the three months ended April 30 increased 10.7 percent to a record $1.33 billion.
Icebug Assumes Responsibility for Sales and Customer Service in Canada
Previously, Rock Gear Distribution (RGD), a wholesale distributor based in Alberta, Canada, operated Icebug’s Canadian business. RGD, a long-standing Icebug partner and owner of Spry, a specialty running store in Canada, will continue collaborating with the company.
EXEC: Vans Hits Fiscal Q4 Turbulence as Brand Recovery Falters
Shares of VF Corp. shed ~13 percent Wednesday after the company reported Vans’ sales fell 20 percent on a currency-neutral basis in the fiscal fourth quarter on top of a 27 percent decline in fiscal Q4 last year.
Target Trading Lower as Retailer Misses Q1 EPS Estimates; Cuts Guidance
Comparable sales decreased 3.8 percent in the first quarter, reflecting a comparable store sales decline of 5.7 percent and comparable digital sales growth of 4.7 percent.
EXEC: New Hibbett Parent JD Sports Sees Shares Fall as Q1 Disappoints
Group comp store, or like-for-like, sales were down 2 percent for the quarter ended May 3. The market also reacted to potential price increases from higher tariffs affecting U.S. consumer purchasing.
Rally House Opens New Storefront in Blacksburg, Virginia
The sports merchandise and apparel retailer, has opened Rally House Blacksburg, its first store in Virginia, on Main Street, steps from the Virginia Tech campus.
Canada Goose Gets DD Lift from DTC in Q4; Wholesale Falls in the Mid 20s
DTC Revenue increased 15.7 percent (+11.6 percent cc) to CN$314.1 million, said to be driven by DTC comparable sales growth of 6.8 percent and revenue from non-comparable stores.
EXEC: Salomon Footwear Continues to Boost the Brand and Parent Amer Sports
The Amer Sports Outdoor Performance segment saw revenues increase 25 percent year-over-year to $502 million in Q1, driven by “very strong performance” in Salomon Softgoods and “good results” in Winter Sports Equipment, following a slow start to the winter season.
The Vitamin Shoppe Completes Sale to Private Equity Groups
As part of the transaction, Sharon Leite, who previously served as CEO of The Vitamin Shoppe from 2018 to 2023, has returned to lead the company as CEO.
Burghardt Sporting Goods to Exit Fox Point Location
The Milwaukee-based team dealer and sports retailer said the decision will allow the company to focus on its “thriving” New Berlin location, a larger and more interactive space. Sixth-generation family member, Maggie Burghardt, daughter of owner Brian Burghardt, has joined the company as a sales and marketing associate.
Nike to Cut Jobs in Technology Division
The shake-up follows leadership changes and layoffs that CEO Elliott Hill implemented as part of his turnaround plan to profitability. Muge Dogan, formerly of Amazon.com, Inc., will remain as the company’s chief technology officer.
EXEC: Amer Sports C-Suite Details Small Tariff Impact and FY Guidance Bump
The parent of the Arc’teryx, Peak Performance, Salomon, Atomic and Wilson Sports brands is far less exposed to U.S. market issues than many other brands and has a far larger Asia, China and Europe component than many others that are more U.S.-centric.
Timberland Taps Industry Vet for Global Product Design and Creative Direction
Darren Leon Mckoy worked at Dr. Martens for over 10 years before the move to Timberland this spring. He was previously at Asics Europe BV working on SportStyle, as well as The North Face EMEA and Adidas Originals.
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