SGB Executive Footwear
EXEC: Crocs Brand Expects Weaker N.A. Sales in Second Half
Crocs, Inc. reported second-quarter sales and earnings that topped expectations but delivered cautious guidance for the back half, including a warning of flat sales for the Crocs Brand. CEO Andrew Rees said, “We see the U.S. consumer behaving cautiously.”
EXEC: BOA and PrimaLoft Deliver Healthy Double-Digit Growth in Q2 for CODI
Citing the benefits of inventories rebalancing in the marketplace, Compass Diversified (CODI) reported BOA’s sales surged 42.1 percent in the second quarter while PrimaLoft returned to growth with a 14 percent gain. Said Elias Sabo, CODI’s CEO, on a call with analysts. “We believe both businesses are positioned for a strong back half of the year.”
Sebago, Kappa Parent Sees Strong Double-Digit H1 Declines in Americas and Asia
The parent of the Sebago, Superga, Briko, Kappa, K-Way, Jesus Jeans, and Sabelt brands posted 2024 first half revenues of €173.9 million, a 3.4 percent decline compared to €180.0 million in H1 2023.
EXEC: Rocky Brands’ Q2 Boosted by Strength at Durango and Xtratuf
Rocky Brands reported sales grew 6.1 percent in the second quarter adjusted for the divestiture of the Servus brand as double-digit gains at the Durango western boot brand and Xtratuf fishing boot brand offset weakness in its work and hunt categories as well as at Muck.
EXEC: Adidas CEO Sets N.A. Growth Focus on Being More American in America
Adidas Group reported underlying sales in North America increased 2 percent on a currency-neutral basis in Q2r and the region is expected to grow in the second half as well. CEO Bjørn Gulden said the focus has to be on being “more American in America” to further accelerate gains in the region.
EXEC: Nike Cuts Workforce but Doubles Down on Endorsement Deals
Employee headcount at Nike’s Beaverton HQ declined 6.1 percent to 10,700 at the close of the company’s fiscal year, which ended May 31, but endorsement deals due within a year surged 31 percent year-over-year.
EXEC: Columbia Sportswear Sees Return to Wholesale Growth in Spring 2025
The home of the Columbia, Sorel, Mountain Hardwear and Prana brands reported that early indications from the spring ’25 Wholesale order book suggests a return to growth in the Wholesale business in the first half of ’25.
EXEC: Hoka DTC Drives Fiscal Q1 Growth; Dick’s and JD Sports Boost U.S. Wholesale
The brand saw accelerated DTC growth and continued strong wholesale gains helped drive a 29.7 percent jump in Hoka sales in fiscal Q1 ended June 30. Hoka’s parent company also called out the sales of the Sanuk business in July.
EXEC: JD Sports Completes Acquisition of Hibbett Sports
Hibbett is now part of JD and will cease to be a stand-alone publicly traded company. Mike Longo will continue as president and CEO of Hibbett and Jared Briskin is now chief operating officer.
EXEC: Sports Direct Parent Sees Adjusted Profit Up Double Digits as Sales Inch Up
Excluding the impact of the 53rd week in fiscal 2023, Retail revenues increased by 0.6 percent year-over-year to £5.54 billion for the 52-week fiscal 2024 period ended April 28.
EXEC: Sports Footwear Shipments Drive Q2 Growth for Stella Int’l
Average selling prices (ASP) declined 5.0 percent to $28.70 per pair, compared to $30.20 per paid in the year-ago quarter, also due to the higher proportion of Sports category orders.
EXEC: Wall Street Sounds Off on VF Corp’s Supreme Sale
SGB Executive compiled input from notes produced by a range of Wall Street sell-side analysts to get a feel for how the deal is being viewed and measure if the perspectives of the Street are fairly universal. They were not.
EXEC: Adidas Raises Full-Year Outlook Again After Double-Digit Q2 Growth
In euro terms, the company’s revenues grew 9 percent to €5.82 billion from €5.34 billion in Q2 last year. Excluding Yeezy sales in both years, currency-neutral revenues increased 16 percent for the quarter.
EXEC: Asics raises Full-Year Forecast on Strong H1 and Q2 Results
Net sales for the full year are expected to reach a record high of ¥660 billion with updated currency exchange rates, an increase of 15.7 percent versus ¥570.5 billion in fiscal 2023, excluding FX rate fluctuations.
EXEC: Decathlon Creates Independent Investment Entity
An independent entity within the Decathlon Group, Decathlon Pulse is expected to invest in “innovative people and businesses that share its values and commitment.”
