SGB Executive Apparel
EXEC: Fenix Outdoor Acquires 30 Percent of Fjällräven Retail Partner
Arctic Fox s.r.o. Artic Fox runs six Fjällräven Stores and online businesses in the Czech Republic and Slovakia. Fenix Outdoor has an option to increase its ownership over time.
SMC and SSL Merge to Form Winter Sports Retailers, Inc.
Snowsports Merchandising Corporation (SMC) and Sports Specialists Ltd (SSL) merged to form Winter Sports Retailer, Inc. (WSR), creating the largest network of U.S. specialty retailers.
EXEC: Deckers Brands Moving to S&P 500 Index
The parent of the Hoka, Teva and Ugg brands is moving to the S&P 500 Stock Index, effective prior to the open of trading on March 18. DECK shares were previously included in the S&P Midcap 400.
EXEC: Macy’s Suitor Raises Acquisition Price to $6.6 Billion
The rejected suitors for Macy’s are not going away anytime soon after moving this weekend to raise their offer for the struggling department store chain.
EXEC: PrimaLoft Takes $58 Million Impairment Charge as Operating Results Fall Short
PrimaLoft performed an interim impairment test of their goodwill as of December 31, 2023 as a result of operating results that were below forecast amounts that were used as the basis for the purchase price allocation at acquisition.
EXEC: 5.11 Tactical was the Lone 2023 Active Lifestyle Gainer at CODI
The 5.11 Tactical brand was the only active lifestyle brand in the segment to post an increase in sales for the year, due in large part to its direct-to-consumer component of the business as all other brands continued to deal with the ongoing retail de-stocking process prevalent across the U.S. retail landscape.
EXEC: Titleist Golf Ball Sales Increase Double Digits in 2023; Clubs Up in High Singles
Titleist golf balls posted healthy sales gains for the year, led by the successful Pro V1 and Pro V1x launch and continued strengthening of the golf ball supply chain, while Titleist golf clubs growth was said to be driven by new T-Series irons and expanded club fitting capabilities.
EXEC: Big 5 CEO Talks Efforts to Offset One-Two Punch from Weather and Economy
The Apparel category was down approximately 30 percent year-over-year in the fourth quarter. The Footwear category was down approximately 17 percent and the Hardgoods category was down approximately 11 percent for the period.
EXEC: Puma SE Posts Flattish Bottom Line in Q4 on Sales Decline to End the Year
Sales growth for 2024 is estimated in the mid-single-digit percentage rate in constant-currency terms and EBIT is seen in a range between €620 million and €700 million.
Sports Direct Parent Frasers Group Adds to Board of Directors
The parent of Sports Direct, Slazenger, Donnay, LA Gear, No Fear, and Antigua, is appointing new directors to its Board, including Helen Wright, Global CEO of Sergio Rossi, Sir Jon Thompson, former chief executive of the Financial Reporting Council, and two current company executives, Ger Wright and Ger Wright.
EXEC: Gymshark Sees All Regions Grow in Fiscal 2023 But U.S. Growth Slows
The U.S. region, which boasts the largest regional sales volume, grew 9.7 percent year-over-year to £250.4 million. U.K. sales increased 25.6 percent to £111.7 million and Europe revenues increased 16.1 percent year-over-year.
EXEC: S&P Issues Damning Report on the Health of TNF and Vans Parent
S&P Credit Rating analysts lowered their forecast for VF and now believe the company will have to sell “sizeable brands” to meaningfully reduce leverage in the near term.
EXEC: Saucony to See Big Decline in 2024 Before Recovery
The fourth quarter was tough for Saucony as sales fell 13.4 percent (-13.7 constant-currency) to $105.1 million, from $121.3 million in the prior-year corresponding quarter.
EXEC: Globe Int’l Swings to H1 Profit on Margin Gains, Cost Cuts
The work put in at Globe over the last year looks like a microcosm of the work ahead for much larger active lifestyle entities like VF Corporation and Wolverine Worldwide. Globe is proving it works.
EXEC: Inside the Wolverine Worldwide C-Suite – Assessing the Year Ahead
Fiscal 2024 revenue is expected in the range of $1.7 billion to $1.75 billion, roughly a 5.5 percent decline at the mid-point versus the 2023 revenues. Gross margins are expected to reach 45.5 percent of sales, a record high, and EPS is forecast to improve 5X at the mid-point.
