SGB Executive Apparel
EXEC: The Apparel Brands Bringing the Brand Heat in 2024
The third annual Brand Heat Index from L.E.K. Consulting identified the brands that are gaining in popularity, or increasing their brand “heat,” across major product categories and generations in women’s and men’s footwear and apparel.
EXEC: Adidas Cites Argentine Peso Issue, Lack of Yeezy Sales for Q4 Sales Decline
The two percent decline in Q4 included a drag of around five percentage points related to the devaluation of the Argentine Peso. In addition, the lack of any Yeezy business weighed on the year-over-year comparison in an amount of around €100 million.
EXEC: On Holding Shares Take a Hit as Analysts Question 2024 Outlook
On generated revenue of more than 1 billion Swiss francs in the Americas region for the full year and more than 1 billion Swiss francs in consolidated gross profit and consolidated net sales from the Wholesale channel for the year.
EXEC: Early Footwear Manufacturing Reports Reveal Positive YTD Trend
Yue Yuen and Feng Tay reported solid trends for the two-month YTD period, with Yue Yuen down just 0.2 percent and Feng Tay up 4.1 percent as both footwear manufacturers appear to reflect positive moves going into BTS.
EXEC: Clarus Files Suit to Recover Shareholders’ Short-Swing Profits
The company seeks to “disgorge profits from certain shareholder transactions” in Clarus’ common stock in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended.
EXEC: Athleta Expects to See Continued Challenges in First Half
Athleta was said to be making good underlying progress, but faced tougher comparisons from the prior-year Q4 period, as the brand is lapping significant promotional volume and it’s weighing on the revenue performance.
EXEC: Foot Locker Shares Plummet as New Team Overshoots on Plan
FL shares closed down 29.4 percent for the day. Some expected give-back would come after a 43 percent run-up since the Q3 report, but others grew more concerned that FL may be too optimistic about 2024.
EXEC: Intersport Spain’s Director General Exits at Board Request
The company said that Ángel Solores, under mutual agreement, is leaving as director general and head of Intersport Spain. However, European media reported that the company had terminated Solores.
EXEC: Amer Sports Sees Q4 Growth Slow as Wholesale Declines; Posts Adjusted Net Loss
The parent of Wilson Sports, Salomon and Arc’teryx said they saw an expected deceleration from third quarter and year-to-date comparative trends due to the supply chain related sales shift that occurred from the third quarter into the fourth quarter in 2022.
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.
