SGB Executive Apparel
Le Coq Sportif Posts Wider H1 Loss on Weaker Footwear Sales
Growth in the brand’s apparel and accessories businesses wwas offset by declines in footwear for the six-month period ended June 30.
EXEC: Wall Street Lukewarm on Nike’s Fiscal Q1 Results
Nike’s shares rose 6.7 percent on Friday after the company reported earnings in the fiscal first quarter ended August 31 handily topped expectations on stronger-than-expected margins, but many analysts were non-plussed, remaining concerned about sluggish growth trends, particularly in the North American wholesale channel.
EXEC: Nike Shares Surge as Meatier Q1 Margins, EPS Beat Offset Weaker NA Sales
The company’s CEO outlined a number of shortcomings that have created some recent challenges and laid out a future view that includes a more focused approach to performance running and delivering more compelling assortments, particularly when it comes to serving their women consumers, among other key areas.
EXEC: Wall Street Upbeat On Lululemon/Peloton Partnership
Analysts generally view Peloton and Lululemon’s new partnership positively but question how much growth it will drive for the companies.
EXEC: ASOS plc Warns on Fiscal Year Cashflow Issue Due to Timing Effects
The retailer typically receives cash from their sales gross of returns and sales tax immediately. However, the cash outflow from sales tax, returns and variable costs associated with those sales predominantly impacts the following two months. The impact will reverse during September and October.
Studies Show Active Lifestyle Brands Resonate with Gen Alpha
In a recent survey conducted by Beano Brain, Nike ranked #4 in the Top 100 “Coolest Brands” among Gen Alpha in the U.K. and #17 in the U.S. Other vendors making the list in the active lifestyle space included Adidas, Puma, Crocs, Jordan, Under Armour, Champion, and The North Face.
Descente, Ltd. Transfers Le Coq Trademark for China to Subsidiary
Descente Ltd will transfer the trademark of “le coq sportif” in mainland China, not including Hong Kong, Macau and Taiwan, to its consolidated subsidiary, Le Coq Sportif (NINGBO) Company, Ltd.
EXEC: Dick’s SG Joins Other Retailers with Lower Seasonal Workers Plans for Holiday
Dick’s Sporting Goods followed Macy’s in reducing its planned holiday hiring plans this year versus 2022. The downbeat hiring targets come amid forecasts of lowered seasonal hiring overall this year due to higher labor costs and expectations of softer holiday selling.
EXEC: Jefferies Downgrades Nike, Foot Locker on Slowdown Concerns
Analysts at Jefferies downgraded Nike, Foot Locker and Urban Outfitters as survey data shows the resumption of payments on student loans may force families to limit their spending on apparel and sneakers. Nike’s sales are also expected to be pressured by lean inventory disciplines across wholesale channels and macro headwinds facing China.
EXEC: UBS Sees Weaker Softgoods Spending Ahead Tied to Student Loan Repayments
UBS, the global financial services firm, reported it expects the consumer spending environment for softgoods in the U.S. to partly deteriorate over the coming months due to the resumption of student loan repayments in October. Inflation concerns and higher interest rates are among other factors expected to impact consumer spending.
Dick’s to Close Nearly All Moosejaw Stores
Moosejaw, the outdoor specialty retailer acquired by Dick’s Sporting Goods in March, is closing 11 of 14 stores in a realignment of Dick’s outdoor specialty business, including the company’s Public Lands’ store concept. Moosejaw’s headquartered in Madison Heights, MI, is also closing.
EXEC: Academy Sports CEO Talks Expansion Strategy Focused on Profitability
Speaking at Wells Fargo’s Sixth Annual Consumer Conference, Academy Sports and Outdoors officials discussed the retail chain’s competitive advantages and how it reworked its expansion strategy while rolling out an aggressive strategy.
EXEC: Nike Retains Top Spot as Most Valuable Global Apparel Brand
Nike ranked as the world’s most valuable apparel brand for the ninth consecutive year, according to Brand Finance’s 2023 Annual Apparel 50 Report. Other brands in the active lifestyle space that made the Top 50 included Adidas, at #5; Lululemon, #16; Puma, #19; Anta, #26; Under Armour, #27; The North Face, #28; Moncler, #29; Skechers, #32; Fila, #34; Li Ning, #42; and New Balance, #50.
EXEC: KMD Sees Rip Curl Post Solid FY Growth while Oboz Sales Jump 62 Percent
The parent company to the Rip Curl, Oboz and Kathmandu brands reported it had achieved record sales of over NZ$1.1 billion dollars in the fiscal year ended July 31, its first year of uninterrupted trade post-pandemic.
EXEC: HSBC is Bullish on Adidas, Lululemon and Puma; Still Holds on Nike
In a bullish report, HSBC said that despite tough conditions expected to continue in the U.S., sales growth and margins should improve for the global sporting goods sector following its “post-pandemic hangover.” Beneficiaries include Adidas, Lululemon and Puma, all rated “Buys” by HSBC while Nike remains at “Hold” due to its U.S. exposure.
