SGB Executive Apparel
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.
Shimano’s Profits Slump In Nine Months
Shimano reported earnings slumped 46.3 percent in the first nine months of the year due to a weak cycling market.
Puma Talks Rihanna Brand Benefits, Promotional Fears
On a media call following the report of above-plan third-quarter results, Bjørn Gulden, Puma’s CEO, detailed how Rihanna was boosting the brand’s women’s business while also indicating a promotional climate in both the U.S. and Europe may crimp fourth-quoter sales gains.
Vans, DTC Power VF Corp.’s Brawny Q3
On a currency-neutral basis, Vans jumped 26 in the third quarter as the Americas grew 22 percent, Europe increased 39 percent and Asia Pacific advanced 23 percent. On the same basis, global sales declined 3 percent at North Face and 2 percent at Timberland, in part due to some fall shipments shifting to the fourth quarter.
Lululemon Upgraded On “Overblown” Amazon Fears
“We believe recent mkt concerns (Amazon, denim, weather) are overblown, and we believe current levels represent an attractive entry point for one of the best performing brands (and long term growth stories) in all of retail,” Citi analyst, Paul Lejuez, wrote in a note to clients.
Skechers Q3 Powered By International Growth
Led by gangbuster gains in international markets and a gritty performance in the challenging U.S. marketplace, Skechers USA reported earnings in the third quarter that handily topped estimates.
Aisle Talk, Week Of October 16
Top headlines from the active lifestyle industry you may have missed this week.
Jefferies Sees Curry 4 Becoming Top B-Ball Sneaker This Year
“Our calls, store visits, social media analysis and review of StockX pricing of Curry 4 soft launches (official launch 10/27) points to very strong buzz in the market,” Randal Konik, Jefferies’ lead analyst, wrote in a note to clients.
Goldman Sachs Downgrades Nike Due To Inventory Concerns
Lindsay Drucker Mann wrote in a note that wholesale growth for Nike will be “tougher to come by” with declining traffic and poor productivity at traditional brick and mortar retail partners “driving excess inventory in the system.”
Adidas Hit By Lawsuit By Rick Pitino
The suit claims Adidas has caused the legendary coach “grave damage to his public and private standing and reputation, causing him extreme embarrassment, humiliation, and emotional distress.”
HanesBrands Snaps Up Alternative Apparel
Continuing a string of tuck-in acquisitions in the activewear space, HanesBrands Inc. acquired Alternative Apparel, a marketer of apparel basics under the Alternative brand, for approximately $60 million in cash.
Puma’s Q3 Earnings Surge, Lifts Outlook
Puma reported operating earnings vaulted 68.3 percent in the third quarter as it continued its streak of double-digit top-line growth.
SidelineSwap Looks To Bring Re-Seller Market To Sporting Goods
Brendan Candon, SidelineSwap’s CEO, said, “By building a platform that’s hyper targeted on the sporting goods category, and simplifying the selling process, we’ve been able to attract a ton of athletes who otherwise would have let their gear collect dust in a garage.”
PrimaLoft Finds New Investor To Support Growth
Said Mike Joyce, president and CEO of PrimaLoft, “Our new partnership with Victor Capital will provide the capital, commitment and operating support to drive our technological innovation and market development to new levels.”
