SGB Executive Footwear
EXEC: Xtep Intl Sees Accelerating Q2 Growth for the Core Xtep Brand
The company posted 10 percent year-over-year growth for the offline and online channels in China with a discount level calculated at approximately 25 percent for the three months ended June 30.
EXEC: 361 Degrees Boasts Record Growth During China’s 618 Shopping Period
Throughout the nearly 30-day “618” period, 361 Degrees said the 361° brand emerged as a prominent player, ranking among the Top 5 of all footwear brands, and standing as the sole domestic brand on the Top 30 list. The “Flying Flame 3” reportedly topped the chart as the best-selling professional marathon running shoe.
EXEC: Anta Sports Sees Fila’s China Retail Sales Growth Slow in Q2
The Fila brand increased in mid-single-digits year-over-year in the second quarter, a moderation from the high-single-digit first quarter trend and the high-teens trend for full year 2023.
EXEC: Footwear Factories See Diverging Trends in June
Yue Yuen’s footwear manufacturing revenue grew 2.9 percent year-over-year in June 2024 while Feng Tay Enterprises reported footwear manufacturing revenues were essentially flat for the month of June, rising just 0.8 percent
EXEC: Tom Peddie Returns to Nike as VP of Marketplace Partners
Executive search firm MacGregor Black noted the reappointment on Tuesday morning on LinkedIn, saying that the “move comes as the iconic sports brand looks to enhance its relationships with existing retailers such as Foot Locker.”
EXEC: Columbia Sportswear Shares Tick Up on Analyst Upgrade
The last big jump for Columbia came after 2024 first-quarter results surpassed analysts EPS expectations and revenue also came in ahead of consensus estimates. COLM shares jumped 10.6 percent at the time. COLM shares are now flat for the year.
EXEC: New Report Sees E-Commerce Growth Rate Contracting 70 Percent by 2029
According to data presented by Stocklytics.com, the annual growth rate in the e-commerce sector is now expected to slow to just 4.6 percent by 2029, or 69.3 percent lower than the forecasted 2024 growth rate.
EXEC: Vista Outdoor Rejects MNC Final Offer as CSG Ups Ammo Segment Offer to $2.1B
Vista Outdoor Board unanimously recommended the CSG offer to acquire Vista’s Kinetics Group ammo segment, and it unanimously rejected MNC Capital’s final indication as inadequate and opportunistic, particularly in its undervaluation of the Revelyst outdoor products segment.
EXEC: Bob’s Stores Commences Going Out of Business Sales
The company said that despite making swift and aggressive changes to its structure and operations, Bob’s Stores was unable to secure the finances needed to maintain operations.
EXEC: Gym King Founder and CEO Buys Out JD Sports Stake in UK Athleisure Retailer
Founder and CEO Jay Parker, via an entity GKH Ventures Ltd. completed the buyout of JD Sports’ stake in The Gym King (Holdings) Ltd., with Parker regaining 100 percent ownership in the business.
EXEC: Wall Street Analysts Downgrade Nike as Competitors Gain Heat
Nike’s move to slash its sales forecast for the year ahead resulted in downgrades from UBS, Stifel, JPMorgan, and Morgan Stanley. Some analysts cited opportunities for Adidas, Lululemon, Hoka, On, and other competitors to gain shelf space as Nike’s overreliance on lifestyle offerings and innovation struggles continue.
EXEC: Assessing the Financial Impact of the OIA and Outdoor Retailer Break Up
The separation, or divorce, was always expected to be a tough move for OIA to absorb, as the loss of royalties from the OR show would cut millions from the trade association’s budget each year. But a funny thing happened on the way to this eventual agreement, OIA shifted its reliance on trade show royalties.
EXEC: Nike Shares Plunge on Surprise Sales Warning for Fiscal 2025
Shares of Nike Inc. closed down 20 percent on Friday, June 28, after the company revised its sales forecast to be down in mid-single digits for its fiscal year ended May 31, 2025, including a high-single-digit drop in the first half.
EXEC: Adidas Bribery Investigation Claims First Two China Employees
Adidas reported on June 26 that two Chinese employees had left the company as the German sportswear giant investigates bribery allegations in China.
JCPenney Posts Wider Q1 Loss as Sales Slide 8 Percent
J.C. Penney’s net loss in the first quarter ended May 4 more than tripled to $63 million from $17 million a year ago, according to a financial filing. Sales in the period slumped 8.1 percent to $1.37 billion from $1.49 billion a year ago.
