SGB Executive Footwear
EXEC: Birkenstock Takes Over Direct Distribution in South Korea
The company will capitalize on the South Korean consumer’s buying potential selling DTC through its online shop. In spring 2025, it will open its own stores and expand with selected department stores.
EXEC: Hoka & Ugg Parent Gets October Surprise Downgrade; Others Say Not So Fast
BTIG Analyst Janine Stichter and her team cited concerns over slowing growth trends in the company’s Hoka and Ugg businesses. Williams Trading Analyst Sam Poser started his recent Deckers Brands note with, “Buy DECK.”
EXEC: Li Ning Posts Mid-Single-Digit Retail Sales Decline in Third Quarter
The offline channel, including retail and wholesale, posted a high-single-digit decline for the quarter, while the company’s e-commerce virtual stores business registered mid-single-digit growth for the period.
EXEC: Li Ning Forms Joint Venture to Manage Brand Outside of Mainland China
The joint venture (JV) will develop and operate the Li Ning Brand business outside of Mainland China, principally in an area that includes Hong Kong, Macau Special Administrative Region and Taiwan, on an exclusive basis.
EXEC: VF Corp Placed on Negative Catalyst Watch Due to TNF, Vans Pressures
JP Morgan trimmed its earnings estimates for VF Corp and placed the stock on “Negative Catalyst Watch” on concerns over ongoing wholesale pressures facing The North Face, Vans and TNF both fighting softer DTC traffic, and elevated inventory levels impact on margins.
EXEC: UK’s Shoe Zone Plc Saw FY Profits Impacted by Weather and Shipping Costs
The UK-based discount footwear retailer said it expects earnings before taxes to decline 40.7 percent in its fiscal year ended September 28 as revenues declined slightly and container prices increased.
Global Survey: Running Race Participation Surpasses Pre-Pandemic Levels
The Running USA Global Runner Survey was based 7,400 runners and event participants, was conducted over June and July 2024. Brooks and Asics again ranked as the preferred running and training footwear brands by respondents.
EXEC: Nike, Inc.’s Debt Ratings Outlook Lowered by S&P
S&P Global Ratings downgraded its debt ratings outlook on Nike, Inc. as the company pulled its financial guidance for the fiscal year ending May 2025 and postponed its investor day amid a strategy shift and CEO transition.
Report: M&A Activity in Active Lifestyle Sector Seeing Strong Recovery
Houlihan Lokey’s “Active Lifestyle Market Update” for the second quarter shows M&A activity in the active lifestyle space has rebounded strongly from a “muted” 2023, “supported by increasing confidence, renewed financing market activity, and a return of mega deals.”
EXEC: Adidas AG Appoints Mathieu Sidokpohou Head of Global Sales as Hoeld Departs
Sidokpohou joined the company in 2020 as GM of Adidas France. In July 2021, he became GM of the Cluster South Europe before taking over the responsibility as Managing Director for Europe in 2023. He succeeds Arthur Hoeld, who will step down at the end of October.
Report: September Retail Sales Top Expectations, Led by Clothing and Footwear
U.S. retail sales increased a seasonally-adjusted 0.4 percent month-over-month in September, up from the unrevised 0.1 percent gain in August, according to the U.S. Department of Commerce. The performance was slightly ahead of the 0.3 percent the Dow Jones forecasted.
EXEC: Nike Eyes Stronger Return to Outdoor Business with Renewed ACG Focus
Nike has tasked Angela Dong, Nike’s top executive in Greater China, with overseeing its outdoor sub-brand, All Conditions Gear (ACG), as Nike revisits its opportunity in the outdoor space to revive growth.
EXEC: Stella Intl Sees Increased Q3 Sport Footwear Shipments Cut into ASPs
The manufacturer of footwear for Nike, Saucony, Under Armour, Merrell, Timberland and Ugg saw Q3 shipment volumes roughly flat in US dollar terms, despite comping against a decrease of approximately 18.7 percent in Q3 last year.
EXEC: Frasers Group Managing Director of Sport to Step Down
The parent company of Sports Direct, Everlast, and Slazenger, reported that Ger Wright will leave her role as managing director of Sport at the end of November. Wright will remain on the Group’s Board as a non-executive director.
EXEC: REI Selling Four Distribution Centers in Sale/Leaseback Plan
REI is seeking to monetize the value of the DCs through a triple-net (NNN) sale/leaseback transaction with an end of year 2024 Closing.
