SGB Executive Footwear
Survey Sees Nike, Jordan, Lululemon Winning Popularity Contest with Gen Y + Z
While upstarts such as Hoka and On are making noise, Cowen’s sixth annual Gen Z and Millennial survey found Nike, Air Jordan and Lululemon hit new all-time highs in brand preference and showed material growth year-over-year in both 18-to-24 and 25–34-year-old cohorts.
VF Corp.’s Shares Jump on Activist Investor’s Move
Shares of VF Corp. jumped 14 percent on Tuesday after activist investor Engaged Capital reported that it had built a stake in the owner of Vans and The North Face and planned to push for changes, including steep cost cuts, divestitures of non-core assets and a board overhaul.
EXEC: Adidas Ups Full-Year Guidance on Improved Preliminary Q3 Results
Adidas now expects full-year 2023 currency-neutral revenues to decline at a low-single-digit rate in 2023 compared to its previous forecast of a mid-single-digit decline. An operating loss of around €100 million is now forecast, compared to its previous estimates for a loss of €450 million for the year.
EXEC: Sports Direct Parent Acquires Top Germany Sports Retailer
Frasers Group plc, the parent company of UK-based sports retailer Sports Direct, entered into a binding agreement with Signa Retail Department Store Holding GmbH to acquire SportScheck, one of the top sports retailers in Germany.
Stitch Fix, Inc. Expands Layoffs, Now Affecting Nearly 1,000 U.S. Workers
After deciding to shutter its UK operations this past summer, and continuing the work to shut down its distribution center in Bethlehem PA, the company will soon begin the closure of its facility in Dallas, TX.
EXEC: Surveys Reveal Run Specialty’s Challenges with Gen Z
A recent member survey from the Running Industry Association (RIA) found that while the run specialty channel has made progress in attracting the Gen X demographic, with Millennials not far behind, a significant opportunity remained to attract more Zoomers.
EXEC: Anta Sports Sees Fila Q3 Retail Trend Lagging First Half Gain
The company, which runs retail stores in China for the Anta brand, Fila, Descente, Kolon Sport, and Amer Sports, reported that Fila brand retail sales posted low-teens positive growth in the third quarter, down from the mid-teens growth from the first half.
Consumer Prices Rose More Than Forecast in September; Apparel CPI Declines
One bright spot for consumers was in the month-over-month CPI for Apparel, which declined 0.8 percent from August, most likely owing to the de-stocking and promotional environment at retail.
September Footwear Production Falls at Yue Yuen While China Retail Grows
Yue Yuen’s manufacturing segment revenue dipped 28.7 percent in September, the fourth consecutive month of declines. Sales in the Pou Sheng retail segment rose 9.2 percent.
EXEC: Volumental’s Brent Hollowell Talks Fit for Feet
Volumental, the Swedish footwear fit tech company, recently hired industry veteran Brent Hollowell as general manager for its North American operations, responsible for accelerating growth in the region. Hollowell talked with SGB Executive about his role, Volumental’s push into North America, the barriers to fit tech, and the potential of generative AI in the fit process.
EXEC: Sports Direct Parent Expands Stake in Norwegian Retailer
Shares of XXL, the struggling Oslo-listed sports retailer, are reportedly surging after the company reported that Frasers Group, the UK-based parent of Sports Direct, purchased 117.4 million shares of the company, bringing its total holding to 162.1 million.
EXEC: BRC Sees Weaker UK Retail Growth in September as Non-Food Sales Decline
The British Retail Consortium reported that total UK retail sales were 2.7 percent in September, against a growth of 2.2 percent in September 2022, supported by a 9.5 percent inflation rate.
EXEC: JD Sports Completes Shares Purchase of Iberian Sports Retail Group
Effective October 10, JD acquired 49.98 percent of shares of ISRG from Balaiko Firaja Invest, S.L. and Sonae Holdings, S.A. for cash consideration of €500.1 million ($531.2 million) and now owns 100 percent of ISRG shares.
Report: UK Holiday Spending Increase Will Fall Short of Inflation Growth
The 3.4 percent growth for the holiday selling period, driven by 9.3 percent inflation for the year, still falls short of last year’s increase and marks a second quarter of slowing growth in 2023.
EXEC: Report Sees Crocs, Hoka, New Balance, and On Increasing Teen Appeal
Crocs, Hoka, New Balance, and On were among the brands in the active lifestyle space that increased their appeal with teens in Piper Sandler’s 46th Semi-Annual Taking Stock With Teens Survey. Nike dominated teen mindshare in footwear and apparel but lost brand appeal in the performance category, while Adidas, Converse, Under Armour, and Vans ost ground with teens. Lululemon had a mixed performance.
