SGB Executive Footwear
EXEC: Adidas Tops Latest 2023 Guidance; Will Not Write-Off Most Yeezy Inventory
Adidas is reporting that 2023 currency-neutral revenues were flat versus the prior-year in reported euro terms, and sales were said to be down 5 percent to €21.43 billion in 2023, compared to €22.51 billion in 2022 in reported euro terms.
EY Survey: CEOs are Displaying Newfound Resilience and Confidence
Global CEOs are optimistic about their ability to drive revenue growth and profitability in 2024 despite global economic headwinds, according to the latest EY CEO Outlook Pulse survey.
Dr. Martens Sees 18 Percent Sales Decline in Fiscal Q3 on U.S. Results
Group revenue reportedly declined 18 percent in constant-currency terms or a reported currency decline of 21 percent to £261.7 million. The result was said to be driven by a weak U.S. performance, as expected.
REI Co-Op to Lay Off 357 Non-Store Staff; Forecasts Revenue Decline for 2024
The move sees 357 employees affected, “impacting 200 people at the headquarters, 6 in S&CS, 30 in Experiences, and 121 in our distribution centers,” according to the CEO’s letter obtained by SGB Executive. The senior leadership team will be pared down 22 percent in 2024.
EXEC: Puma Expects to Come Up Short in 2023; Tempers 2024 Outlook
The company points to the extraordinary 54 percent devaluation of the Argentine peso in December 2023 and the application of hyperinflationary accounting for a miss on its bottom line.
EXEC: Stella International Sees Footwear Shipments Turnaround in Q4
Fourth quarter revenues increased approximately 13.5 percent to $389.5 million, compared to $343.1 million in the prior-year quarter. The increase was the first positive revenue quarter since Q3 2022.
EXEC: Amer Sports Expects 2023 Full-Year Revenues North of $4.35 Billion
Revenue reportedly increased across all operating segments, geographic regions and channels, according to the company’s recently amended F-1 filing statement. The company sees its annual net loss contracting but EBITDA expanding for the year.
EXEC: January Consumer Confidence Index Highest Since July 2021
The University of Michigan’s preliminary results reported on the overall index of consumer sentiment came in at 78.8 for January, the highest reading since July 2021, compared to 69.7 in December and 64.9 in January 2023.
Amer Sports Looks to Raise Over $1.6 Billion in IPO
Amer Sports, Inc., the parent of the Arc’teryx, Armada, Atomic, DeMarini, EvoShield, Louisville Slugger, Salomon, Wilson, and other sports and outdoor brands, launched an initial public offering of 100,000,000 ordinary shares.
Macy’s Rejects $5.8 Billion Buyout Offer, Citing Financing Concerns
The retailer’s Board of Directors determined that the unsolicited and non-binding proposal from Arkhouse Management Co. LP and Brigade Capital Management, LP does not constitute a basis to enter into a non-disclosure agreement.
EXEC: The Athlete’s Foot Parent to Acquire Lloyd’s Shoes
Arklyz AG and Lloyd Shoes owner AG Ara have signed definitive agreements for Arklyz to acquire the German footwear powerhouse with all its operating subsidiaries.
Report: Over 17 Percent of Global Holiday Online Sales Influenced by AI in 2023
Salesforce data indicates that online holiday sales reportedly increased 3 percent for the two-month holiday selling period in 2023 after posting flat results in the 2022 period.
EXEC: Super Retail Group Ekes Out 1 Percent Comp Growth In Fiscal H1
The Australia-based parent of the Rebel Sports, BCF outdoor, and Macpac outdoor retail chains reported that sales for the first half of fiscal 2024 increased 3 percent and are expected to reach A$2.02 billion for the period ended December 30.
EXEC: Anta Sports Sees Fila Q4 Retail Trend Accelerating from Q3 Trend
The company, which runs retail stores in China for the Anta brand, Fila, Descente, Kolon Sport, and Amer Sports, reported retail sales, in terms of retail value, for the Fila brand increased 25 percent to 30 percent year-over-year in the fourth quarter.
Fashion Energy Report Uses Sustainability, Transparency and CO2 to Rate Brands
The Fashion Energy Report determined Puma was the most sustainable fashion brand, followed by The North Face and Tommy Hilfiger. Other brands in the active lifestyle rating in the Top 10 include Patagonia, Converse and Timberland.
