SGB Executive Apparel
VF Doubles Down On Merino Wool With Icebreaker Acquisition
VF Corp. looks to secure a dominant position in the fast-growing natural fiber category while Icebreaker believes it’s found a partner to help it become a $1 billion brand.
Gildan Activewear’s Top-Line In Q3 Impacted By Sock Slowdown
The overall sock business was down in the quarter due to weak demand in the sock category, particularly for higher-margin sock brands in department stores, national chains, and sporting goods.
Newell’s Play Segment Sees Strong Earnings Uptick
On a conference call with analysts, Michael Polk, Newell’s CEO, highlighted mid-single-digit growth from the Fishing and Team Sports segments although the improved earnings largely reflects the absence of year-ago inventory writeoffs post-acquisition.
Champion’s Sales Climb Double Digits In Q3
Asked if the Champion brand is feeling pressure from the promotions being employed by Nike and Under Armour to reduce inventories in the U.S. market, Gerald Evans, HanesBrand’s CEO, said the core Champion business “was up 20 percent in our sporting goods and department store mid tiers. We now have the TSA bankruptcy behind us and we saw nice growth in our Sports License Apparel business as well.”
Big 5 Gaining Market Share Out West
Shares of Big 5 Sporting Goods jumped on Wednesday after the West Coast-based chain indicated it’s holding onto market share gained from the exit of older competitors (Sports Authority, Sports Chalet) while faring well against a newer competitor (Dick’s).
Under Armour’s Shares Crash On Slashed Outlook
Shares of Under Armour fell $3.89, or 23.7 percent, to $12.52, on Tuesday after the company significantly reduced its outlook for the year due to further erosion in its U.S. business and indicated the weakness would likely continue in 2018. Sales in the second quarter also fell short of Wall Street’s targets as sales declined for the first time since the company went public in 2005.
Wall Street Reacts: Nike 2017 Investor Day
Wall Street generally applauded Nike’s plans to ramp up its commitment to innovation and build digital connections spelled out at its Investor Day event last week, but a few were looking for greater insights into near-term trends, especially visibility into when the North America region may recover.
VF Corp. Upbeat For Holiday
In an interview with SGB. Steve Rendle, president and CEO of VF Corp., said that while October started “a little slow,” sales have picked up as “the weather began to become more fall like” and the company remains optimistic about holiday selling. He also said he remains bullish on The North Face and Timberland regaining top-line momentum.
Aisle Talk, Week Of October 23
Top headlines from the active lifestyle industry you may have missed this week.
Deckers Abandons Sales Plan After Delivering Blowout Q2
Deckers Outdoor said it is no longer actively pursuing a sale of the entire company while reporting second-quarter results that came in well ahead of guidance.
Columbia Sees U.S. Wholesale Returning To Growth First Half Of 2018
Columbia Sportswear’s third-quarter results came in better than expected as growth overseas and in its U.S. DTC business offset another steep decline in U.S. wholesale revenues. But officials predicted U.S. wholesale growth would resume in the first half of 2018.
Callaway Golf’s Momentum Accelerates
Callaway Golf reported third-quarter results that handily exceeded guidance with healthy gains across all regions. The upside was driven by strength in its woods business, continued growth in golf balls, and the successful integration of its new business ventures: Callaway Apparel Japan, OGIO and now, TravisMathew.
Amer Sport Sees Sales Picking Up
Driven by apparel, direct-to-consumer and China, Amer Sports reported sales on a currency-neutral basis rose 3 percent in the third quarter, accelerating from a 1 percent gain seen in the second quarter. Strong growth in apparel, Fitness, and Winter Sports offset declines in cycling, sports equipment and ball sports.
Nike Investor Day: Still Bullish On Growth
At its Investor Day, Mark Parker, Nike’s CEO, said he expects digital revenues to expand from 15 percent of revenues to 30 percent over the next five years. Over half of its sales growth over that period will come from “new innovation concepts that will scale across multiple categories.” About 75 percent growth will come from outside the U.S.
HanesBrands’ Downgraded Over Champion’s Growth Concerns
Oppenheimer lowered its rating on HanesBrands Inc. due in part to signs of slowing growth and competitive pressures at Champion.
