SGB Executive Apparel
EXEC: Inside Wolverine’s Plan for the Future—and the New Realities of 2023
New CEO Chris Hufnagel said WWW continues to reshape its portfolio, reduce inventory and redesign the company to become consumer-obsessed brand builders, focused squarely on building compelling products and telling amazing stories.
EXEC: Under Armour Can’t Dodge North American Turbulence
Under Armour reported sales and earnings in the fiscal second quarter ended September 30 topped analyst targets, but annual sales guidance was reduced due to further deterioration in the North American wholesale business. CEO Stephanie Linnartz told analysts, “Several forces are at play here, including inflation and consumer confidence, normalizing inventory levels amid still broad promotions, and overall softness in our future wholesale order book.”
New Wave Group Gets Lift from Tenson Deal to Post Q3 Sales Growth
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson AB, reported that net sales increased 5 percent (+1 percent currency-neutral) to SEK 2,337.0 million, but sales would declined had it not been for sales from the acquired outdoor gear brand Tenson.
EXEC: Black Diamond’s NA Sales Show Some Stabilization
Clarus Corp. reported that Black Diamond’s sales improved sequentially from the second quarter and were down modestly in the third quarter as the North American region showed signs of stabilization to offset softness in its European business.
EXEC: BRC Sees Cautious UK Consumer Spending Stalling in October
The BRC reported that total UK retail sales increased 2.5 percent in October. The number was said to be below the three-month average growth of 3.1 percent and the 12-month average growth of 4.2 percent as reported by the BRC.
EXEC: Wrapping Up the Less-Than-Jolly Holiday Forecasts For Retail
Holiday forecasts arriving in recent weeks roundly forecast sales will slow this year versus pandemic stimulus-boosted gains in recent years. However, while many expect a “resilient” consumer will drive solid gains similar to pre-pandemic levels, some see inflationary and macroeconomic concerns weighing disproportionately on discretionary spending.
EXEC: BOA, Primaloft and Velocity Outdoor Drag on Parent’s Q3 Results
Brand aggregator Compass Diversified saw Q3 sales decline 25 percent at BOA, 16 percent at Primaloft and fall 28 percent at Velocity Outdoor, while revenues grew 13 percent at Marucci Sports and 7 percent at 5.11. The company reported it was selling Marucci.
EXEC: Titleist Parent Gains Q3 Boost from Healthy U.S. Golf Market
Acushnet Holdings Corp., the parent of Titleist and FootJoy, reported third-quarter earnings and sales topped Wall Street expectations on strength in the U.S. golf market. On an analyst call, David Maher, president and CEO, said the U.S. is outpacing markets overseas in both golf rounds played and consumer spend due to resilient golf enthusiasts.
EXEC: Canada Goose Shares Fall to All-Time Low on Luxury Slowdown, Weak Outlook
Shares of Canada Goose, Inc. reached an all-time low of $9.81 in over-the-counter trading as the outerwear maker axed its outlook for the year amid concerns over luxury spending, China’s recovery and warm weather.
EXEC: Fenix Outdoor Had a Great Q3 – Then September Arrived
The parent company of the Fjällräven, Royal Robbins, Hanwag and Tierra brands said Q3 started well, with “nice growth” in its Retail businesses; the Brands and Wholesale businesses had recovered and direct orders increased in the period. Then September’s heat hit.
EXEC: VF’s Turnaround Plan to Focus on Vans, the Americas, Debt and Cost Structure
New company CEO Bracken Darrell said the U.S. is not working well. He noted that the company’s innovation engine has historically been strong but had drifted downward over the past few years. He said employees still love the brands and business, but morale was hurt by poor performance. He also said costs and debt were too high, and there were no sacred cows in the turnaround effort. Vans was the first to see change.
EXEC: EMS and Bob’s Stores Look to Reignite Growth
In May 2022, GoDigital Media Group acquired Eastern Mountain Sportsand Bob’s Stores for $70 million in cash. SGB Executive talked with Jason Peterson, GoDigital’s CEO, and Dave Barton, president and CEO, Bob’s Stores and EMS, about how the companies is repositioning the banner for growth.
EXEC: Columbia Sportswear Sees Rocky Road Ahead for Wholesale Business
The company is forecasting a low-double-digit percent decline in wholesale net sales in first half 2024. The company added that it expects the wholesale net sales decline will be partially offset by continued growth in the global DTC businesses.
EXEC: Deckers Delivers Blowout Q2 as Hoka Takes Lead in U.S. Run Specialty
Deckers Brands hiked its annual guidance as results for its fiscal second quarter ended September 30 were boosted by an robust recovery at Ugg. However, Hoka’s momentum showed no signs of slowing down with Deckers’s officials telling analysts the brand has become the leading footwear seller in the U.S.-run specialty channel.
EXEC: Moncler S.p.A’s Q3 Sales Climb 7 Percent
Moncler S.p.A reported sales reached €669.7 million ($706 mm in the third quarter, up 7 percent on a currency-neutral basis compared with the same period of 2022. On a currency-neutral basis, Moncler Brand sales were up 9 percent while Stone Island sales were flat.
