SGB Executive Footwear
EXEC: Puma SE Shares Fall Over 20 Percent on Analyst and Investor Concerns
Puma SE shares opened 16 percent lower in Europe on Thursday morning, January 23, after the company’s pre-announcement of 2024 fourth quarter and full-year results caused a stir overnight.
EXEC: ISPO Group Shuffles Show Leadership After Tobias Gröber Sets Departure
The ISPO Group expects limited disruption as Exhibition Director Lena Haushofer and her team assume Gröber’s responsibilities, with Christoph Rapp, head of Sales and Marketing, and Saskia Rettenbacher, head of Event Management.
EXEC: Puma Comes Up Short on 2024 Bottom Line; Sets Cost-Cutting Program
For the foruth quarter, Puma reported that preliminary sales increased 15.5 percent on a reported basis to €2.29 billion. The company saw sales growth of 9.8 percent on a currency-adjusted (ca) basis for the quarter.
EXEC: REI Names Mary Beth Laughton as Next CEO as Eric Artz Plans Exit
Laughton, a former REI Board Director and seasoned retail leader, will join REI as president on February 3, 2025, before assuming full CEO responsibilities on March 31.
EXEC: VF Corp. Confirms New Global Cuts; Analysts React to ICR Presentation
The parent company of The North Face, Vans, Timberland, Jansport and Dickies, among other outdoor and street lifestyle brands, continues to take action against the goals set out in its Reinvent turnaround plan.
EXEC: Adidas Preliminary 2024 Report Reveals Double-Digit Growth to €23.7B
In euro terms, the company’s revenues grew 24 percent to €5.97 billion in the fourth quarter, or 19 percent in currency-neutral terms versus Q4 2023. Excluding Yeezy for both years, currency-neutral revenues increased 13 percent.
EXEC: Kizik Expands Distribution into South Korea, France, Iberia, and Gulf States
The company said the expansion follows Kizik’s success in the U.S. and builds on its recent international growth, “positioning the brand for further milestones in 2025 and beyond.”
EXEC: New Balance Rides Consumer Energy and Retailer Support to Reach $7.8B in 2024
Company CEO Joe Preston, speaking at the NRF Big Show, said sales at the 118-year-old company are poised to grow another 20 percent in 2025 after increasing 20 percent to $7.8 billion in 2024.
EXEC: 361 Degrees Owned-Retail Growth Accelerates in Q4 as E-Commerce Jumps
361 Degrees International, Ltd. reported brick-and-mortar retail sales of 361º core-branded product increased ~ 10 percent year-over-year for the fourth quarter of 2024. E-commerce product recorded sales growth of ~ 30 percent to 35 percent.
EXEC: JD Sports Fashion Reports 3.4 Percent Organic Sales Growth for Holiday
On a year-to-date (YTD) basis through January 4, comp sales revenue was flat, and the company said it expects full-year comp sales revenue to be at a similar level as the YTD trend.
EXEC: Reebok’s U.S. Operations Sold to Galaxy Universal
Galaxy Universal specializes in the athletic, health and outdoor categories, among others, and owns the And1, Gaiam and Tony Hawk brands, and licenses the Justice and London Fog brands.
Famous Footwear Parent Cuts Sales and EPS Guide for Second Time in Two Months
Consolidated net sales are forecasted to be down 3.0 percent to 3.5 percent for fiscal 2024, compared to a December forecast for net sales to be down in a range of 2.5 percent to 3.0 percent and versus initial guidance of down in low-single-digits percent.
EXEC: Key Nike Factory Swings Back to Shipment Declines in December
Feng Tay Enterprises manufacturing revenues rose 2.0 percent for full-year 2024, while peers Stella International declined 3.5 percent for the month and Yue Yuen manufacturing posted an 11.1 percent increase for the 2024 full-year period.
EXEC: Stella Intl Sees 2024 Footwear Shipment Volume Jump 8.2 Percent; ASPs Decline
Average selling prices (ASPs) were $27.90 per pair in Q4, compared to $28.80 in the prior-year Q4 period. Full-year ASPs were down 4.4 percent to $28.40 per pair, compared to $29.7 per pair in 2023.
EXEC: JCPenney Merges with Sparc Group to Form Catalyst Brands
The combined Catalyst Brands organization is a joint venture formed in an all-equity transaction between JCPenney and the Sparc Group, with shareholders Simon Property Group, Brookfield Corporation, Authentic Brands Group, and Shein.
