SGB Executive Apparel
Analyst: Risks Piling Up For Cherokee Global Brands
As Cherokee Global Brands continues working to rightsize its business operations—which in the third quarter included a $3 million reduction in selling, general and administrative expenses—a host of risks could knock the company off track.
Lids Finds New Turnaround Partner In Fanzz
While ending up with a skimpier price than hoped for, Genesco finally found a buyer for Lids to enable the company to re-focus on its footwear platforms. For its part, Lids hopefully found a new major partner, Fanzz-owner Ames Watson Capital, and minor partner, Fanatics, to help further stabilize the struggling business.
Aisle Talk Week Of December 10
Top headlines from the active lifestyle industry you may have missed this week, including Fanatics marking its first licensing agreement with a university, a 10-year deal with the University of Oregon to license, manufacture and sell its sports gear beginning on January 1, 2020.
Wall Street Reacts: Under Armour’s Investor Day
Most analysts applauded the progress Under Armour is making instilling greater operational and financial disciplines under its transformation efforts. Some were also encouraged by the innovation on display Wednesday at the company’s Investor Day in Baltimore. But growth concerns, particularly in North America, and overall execution issues in the competitive landscape continued to worry many on Wall Street.
Under Armour Predicts Slow Recovery On Investor Day
At its Investor Day Wednesday in Baltimore, Under Armour officials touted early paybacks in its Transformation efforts and the brand’s ability tap into a Focused Performer consumer that globally represents $92 billion in revenue potential. But shares of Under Armour fell sharply on the day as Under Armour forecast only modest growth in the years ahead, including little pickup in North America.
Conservative Holiday Guidance, Apparel Industry Woes Sink Lululemon Shares
Shares of Lululemon Athletica Inc. closed the week down $17.57, or 13.4 percent, to $113.87 on concerns over the company’s conservative holiday guidance and also over widespread fear of a tariff resurgence despite talks earlier in the week that the trade war might be dissipating.
Aisle Talk Week Of December 3
Top headlines from the active lifestyle industry you may have missed this week, including big news from trade show owner Emerald Expositions, which canceled Interbike (pictured) for 2019 and also shortened Outdoor Retailer Summer Market and Winter Market from four days to three days.
Retail Disappoints In Duluth Trading’s Q3
Shares of Duluth Holdings Inc. tumbled $6.03, or 19.9 percent, to $24.33 Friday following the company’s mixed third-quarter results. Although the company’s revenue was up 27.4 percent to $106.7 million—which beat Wall Street’s target by $2 million—there is concern on the retail side.
Zumiez Boosted By Healthy Streetwear Trends
With a number of its streetwear labels riding strong popularity with teens, Zumiez Inc. reported earnings rose 16.0 percent in the third quarter ended November 3 to $13.8 million, or 55 cents per share, exceeding guidance calling for earnings in the range of 45 to 51 cents.
Genesco Sees U.S. Footwear Business Offset Lids’ Struggles
Boosted by a 9 percent comp gain at Journeys, Genesco Inc. reported its highest quarterly comparable sales increase in more than 2.5 years. Adjusted earnings easily topped Wall Street’s targets. Lids continues to face weak headwear trends and the sales exploration of the business is taking longer than anticipated.
Run Specialty Re-Finds Its Stride
With a spurt of innovation, a healthy shake-out of stores, and a number of nimble adjustments to the changing retail landscape, run specialty is back in growth mode, according to participants at last week’s The Running Event in Austin.
Behind The Deal: How Callaway Aced The Jack Wolfskin Acquisition
Anyone who looks beyond the surface of Callaway Golf Co.’s agreement to acquire Jack Wolfskin for $476 million will see that reducing it to the simplistic “golf company buys outdoor brand” doesn’t capture the depth of the deal. The acquisition makes sense on multiple levels for both companies amid the blurring of channels, product lines and even consumer habits.
Fjallraven North America’s Nathan Dopp Shares Brand Outlook
Nathan Dopp, deputy CEO and president of the Americas for Fjallraven North America, spoke with SGB at last month’s Outdoor Retailer Winter Market in Denver, CO, where he shared what’s on tap for the brand in 2019 and beyond.
J.P. Morgan Turns Bullish On Nike’s North American Momentum
J.P. Morgan raised its price target on Nike Inc. to $85 from $81 as the investment firm has grown more convinced that Nike’s momentum in North America is accelerating. Based on its own recent fieldwork, J.P. Morgan raised its North America revenue estimate to 9 percent growth for Nike’s second quarter ended November 30.
Tariff War Far From Over
President Donald Trump and Chinese President Xi Jinping agreed Saturday to a temporary trade cease-fire to allow time for more negotiations but trade experts are doubtful that 90 days will be enough time to resolve the thorny and complicated issues that divide the two countries.
