SGB Executive Apparel
EXEC: VF Details Supreme Contribution to Corporate Picture
For the fiscal 2024 year-end, the Supreme discontinued operations accounted for $538.9 million of revenue, $324.9 million in gross profit, $109.9 million in operating income, and 13 cents per diluted share during VF’s 2024 fiscal year.
EXEC: Callaway and Topgolf Management Outline Separation Plan
The company said it expects to effect the separation by spinning off the Topgolf business to Topgolf Callaway Brands’ shareholders in a transaction that is intended to be tax-free for both the company and its shareholders for U.S. federal income tax purposes.
EXEC: Dick’s SG Tempers Outlook for H2 on Concerns Over Consumer
The largest sporting goods retailer in the country, which just posted 4.9 percent comp growth in the first half of the year, also has concerns about the consumer. As many others have noted in their earnings calls, DKS is clearly seeing something at the store level.
EXEC: Nordstrom Family Offers Path to Take Namesakes Retailer Private
A real deal to go private is finally on the table at Nordstrom Inc., with family members Erik Nordstrom and Pete Nordstrom at the center of a proposed $3.76 billion deal.
EXEC: Sportsman’s Warehouse Lowers Outlook as Q2 Hurt by Tight Inventories
Company CEO Paul Stone said they ran inventory too low in the first half of the year and did not invest in the right amount of inventory, particularly in core products and did not invest in the right amount of inventory, particularly in core products.
EXEC: Mountain Warehouse Approved as Winning Bidder in EMS Asset Sale
The terms of the pre-arranged stalking-horse bidder deal, which was originally said to be around $5 million, actually came in at double that amount. Mountain Warehouse plans to continue operating seven stores under the Eastern Mountain Sports name.
EXEC: Top Bidders Named in Asset Auction for Salt Life, Soffe and DTG2Go Brands
Salt Life, the marine apparel brand acquired by Delta Apparel in August 2013, was expected to have the biggest ticket after Delta indicated that it planned to sell certain Salt Life brand assets, but the final bid came in over one-third higher than expected.
EXEC: Lululemon to Fast-Track New Product but Cuts 2024 Guidance
Lululemon reported second quarter net revenue increased 7 percent to $2.37 billion, or increased 8 percent on a constant-currency (cc) basis. Analysts were looking for $2.41 billion. Earnings came in at $3.15 per share, above consensus estimates for $2.93 per share.
EXEC: Athleta’s Q2 Comps Decline as Expected; Expects Return to Growth in H2
In the second quarter, Athleta was expected to lap the balance of last year’s heavy discounting, and, as a result, the company planned for second quarter net sales to be down in mid-single-digits year-over-year.
EXEC: Foot Locker Gives Q2 Nod to Nike in Basketball, Adidas and New Balance in Lifestyle
North America overall comps were up 1.7 percent for the quarter, led by Foot Locker North America, which delivered a comp increase of 5.9 percent.
EXEC: Wall Street Reacts as Foot Locker CEO Talks Turnaround Plan and Positive Q2 Comps
FL shares have been on a bit a roll, with the stock up 24 percent in the last month and 42 percent over a three-month period, but the Q2 results weren’t positive enough to build on that momentum as FL shares fell in double digits on Wednesday.
EXEC: Sports Direct Parent Invests in Australian Sportstyle Retailer
Frasers Group plc, the parent of the UK-based retailer Sports Direct, has acquired a 14.65 percent strategic investment in Accent Group Ltd., a retailer in the performance and lifestyle market in Australia and New Zealand.
EXEC: Saucony and Merrell Post H1 Surge in China as Xtep Takes Full Control
Saucony and Merrell are now operating under a licensing model in China, and housed within Xtep International’s new Professional Sports segment of business, representing 8.2 percent of total revenues for the company.
EXEC: Mainland Headwear H1 Hurt by Economy, Slow Mexico Factory Output
With production at its new Mexico factory yet to run smoothly as the newly recruited local staff are grappling with workflow., the company has run into high operating costs, resulting in an operating loss for the H1 period.
EXEC: BSN Sports Gets A New Parent as KKR Closes Varsity Sports Acquisition
As the new majority owner of Varsity Brands, KKR said it will support the company as it continues to grow its business. KKR said it is making this investment primarily through its North America Fund XIII.
