SGB Executive Apparel
EXEC: Lululemon Pulls Breezethrough Leggings Line, Stock Price Targets Cut
The collection, aimed at hot, low-impact workouts, faced criticism over the design, with a 3.1-star rating from 112 reviews on the company’s website, with comments highlighting issues like unflattering seams and discomfort.
EXEC: JD Sports Completes Acquisition of Hibbett Sports
Hibbett is now part of JD and will cease to be a stand-alone publicly traded company. Mike Longo will continue as president and CEO of Hibbett and Jared Briskin is now chief operating officer.
EXEC: Moncler Group Posts Double-Digit Sales Growth in First Half
The company reported first half revenues increased 11 percent year-over-year in constant-currency terms to €1.23 billion, Moncler brand revenues of €1.04 billion and Stone Island brand revenues of €188.9 million.
EXEC: Royal Robbins Parent Sees “Disappointing” Q2 as Inventory Woes Persist
Fenix said the retailer market still faced a situation with higher-than-normal inventory, as well as volatile trading because of weather and said there are also indications that a number of retailers are facing some liquidity/financial problems.
EXEC: Sports Direct Parent Sees Adjusted Profit Up Double Digits as Sales Inch Up
Excluding the impact of the 53rd week in fiscal 2023, Retail revenues increased by 0.6 percent year-over-year to £5.54 billion for the 52-week fiscal 2024 period ended April 28.
EXEC: Wall Street Sounds Off on VF Corp’s Supreme Sale
SGB Executive compiled input from notes produced by a range of Wall Street sell-side analysts to get a feel for how the deal is being viewed and measure if the perspectives of the Street are fairly universal. They were not.
EXEC: VF Corp. Divests Supreme Brand to Oakley Parent in Cash Deal
The transaction is expected to close by the end of calendar year 2024, subject to customary closing conditions and regulatory approvals. The $1.5 billion sale of Supreme is expected to be dilutive to VF’s earnings per share in fiscal 2025.
EXEC: Adidas Raises Full-Year Outlook Again After Double-Digit Q2 Growth
In euro terms, the company’s revenues grew 9 percent to €5.82 billion from €5.34 billion in Q2 last year. Excluding Yeezy sales in both years, currency-neutral revenues increased 16 percent for the quarter.
EXEC: Asics raises Full-Year Forecast on Strong H1 and Q2 Results
Net sales for the full year are expected to reach a record high of ¥660 billion with updated currency exchange rates, an increase of 15.7 percent versus ¥570.5 billion in fiscal 2023, excluding FX rate fluctuations.
EXEC: Decathlon Creates Independent Investment Entity
An independent entity within the Decathlon Group, Decathlon Pulse is expected to invest in “innovative people and businesses that share its values and commitment.”
EXEC: Xtep Intl Sees Accelerating Q2 Growth for the Core Xtep Brand
The company posted 10 percent year-over-year growth for the offline and online channels in China with a discount level calculated at approximately 25 percent for the three months ended June 30.
EXEC: 361 Degrees Boasts Record Growth During China’s 618 Shopping Period
Throughout the nearly 30-day “618” period, 361 Degrees said the 361° brand emerged as a prominent player, ranking among the Top 5 of all footwear brands, and standing as the sole domestic brand on the Top 30 list. The “Flying Flame 3” reportedly topped the chart as the best-selling professional marathon running shoe.
EXEC: Anta Sports Sees Fila’s China Retail Sales Growth Slow in Q2
The Fila brand increased in mid-single-digits year-over-year in the second quarter, a moderation from the high-single-digit first quarter trend and the high-teens trend for full year 2023.
EXEC: Footwear Factories See Diverging Trends in June
Yue Yuen’s footwear manufacturing revenue grew 2.9 percent year-over-year in June 2024 while Feng Tay Enterprises reported footwear manufacturing revenues were essentially flat for the month of June, rising just 0.8 percent
EXEC: Tom Peddie Returns to Nike as VP of Marketplace Partners
Executive search firm MacGregor Black noted the reappointment on Tuesday morning on LinkedIn, saying that the “move comes as the iconic sports brand looks to enhance its relationships with existing retailers such as Foot Locker.”
