SGB Executive Footwear
EXEC: Dick’s Sporting Goods on Path for Biggest Expansion Since 2017
After a strong finish to the fiscal year and posting its largest Q4 ever, the company has already put its stake in the ground for the next chapter (or chapters) in the story of the 75-year-old sporting goods retailer.
EXEC: The Footwear Brands Bringing the Brand Heat in 2024
The third annual Brand Heat Index from L.E.K. Consulting reveals the brands that are gaining in popularity, or increasing their brand “heat,” across major product categories and generations in women’s and men’s footwear and apparel.
EXEC: Adidas Cites Argentine Peso Issue, Lack of Yeezy Sales for Q4 Sales Decline
The two percent decline in Q4 included a drag of around five percentage points related to the devaluation of the Argentine Peso. In addition, the lack of any Yeezy business weighed on the year-over-year comparison in an amount of around €100 million.
EXEC: On Holding Shares Take a Hit as Analysts Question 2024 Outlook
On generated revenue of more than 1 billion Swiss francs in the Americas region for the full year and more than 1 billion Swiss francs in consolidated gross profit and consolidated net sales from the Wholesale channel for the year.
EXEC: Early Footwear Manufacturing Reports Reveal Positive YTD Trend
Yue Yuen and Feng Tay reported solid trends for the two-month YTD period, with Yue Yuen down just 0.2 percent and Feng Tay up 4.1 percent as both footwear manufacturers appear to reflect positive moves going into BTS.
EXEC: Skechers USA Agrees to Settle SEC Charges Without Admitting Guilt
The company agreed to settle charges for failing to disclose payments for the benefit of its executives and immediate family members. Skechers agreed to pay a $1.25 million civil penalty to settle the SEC’s charges, without admitting guilt.
EXEC: Inside the Turnaround Plan at Journeys, Pain Continues Into 2024
Journeys’ comps are expected to be down in the mid- to high-single-digits for the fiscal first quarter, and Genesco plans to close an additional 50 Journeys stores this year.
EXEC: Athleta Expects to See Continued Challenges in First Half
Athleta was said to be making good underlying progress, but faced tougher comparisons from the prior-year Q4 period, as the brand is lapping significant promotional volume and it’s weighing on the revenue performance.
EXEC: Foot Locker Shares Plummet as New Team Overshoots on Plan
FL shares closed down 29.4 percent for the day. Some expected give-back would come after a 43 percent run-up since the Q3 report, but others grew more concerned that FL may be too optimistic about 2024.
EXEC: Intersport Spain’s Director General Exits at Board Request
The company said that Ángel Solores, under mutual agreement, is leaving as director general and head of Intersport Spain. However, European media reported that the company had terminated Solores.
EXEC: Amer Sports Sees Q4 Growth Slow as Wholesale Declines; Posts Adjusted Net Loss
The parent of Wilson Sports, Salomon and Arc’teryx said they saw an expected deceleration from third quarter and year-to-date comparative trends due to the supply chain related sales shift that occurred from the third quarter into the fourth quarter in 2022.
SMC and SSL Merge to Form Winter Sports Retailers, Inc.
Snowsports Merchandising Corporation (SMC) and Sports Specialists Ltd (SSL) merged to form Winter Sports Retailer, Inc. (WSR), creating the largest network of U.S. specialty retailers.
EXEC: Deckers Brands Moving to S&P 500 Index
The parent of the Hoka, Teva and Ugg brands is moving to the S&P 500 Stock Index, effective prior to the open of trading on March 18. DECK shares were previously included in the S&P Midcap 400.
EXEC: Macy’s Suitor Raises Acquisition Price to $6.6 Billion
The rejected suitors for Macy’s are not going away anytime soon after moving this weekend to raise their offer for the struggling department store chain.
EXEC: BOA Posts 25 Percent Sales Decline in 2023 as Retail Inventory Takes Toll
Fourth quarter sales at BOA were down slightly year-over-year while Adjusted EBITDA for the BOA business increased to $14.0 million in Q4, compared to $13.8 million in the 2022 fourth quarter.
