SGB Executive Footwear
EXEC: Li Ning Sees Q3 China Retail Sales Comp Down Mid-Singles
In terms of channels, the retail channel registered a mid-single-digit increase and the wholesale channel registered a low-teens decline; while its e-commerce virtual stores business registered a low-single-digit decline on a year-over-year basis.
Super Retail Group Comps Up 2 Percent for 16-Week YTD Period
The Australia-based parent of the Rebel Sports, BCF Outdoor and Macpac outdoor retail chains, provided an update on its year-to-date performance at its annual general meeting on October 25 as it cycles against big increases last year.
Skechers Enters the Basketball Arena
Skechers announced its entry into the technical basketball shoe category by launching two mid-top styles—SKX Resagrip and SKX Float—and signed endorsement deals with Julius Randle of the New York Knicks and Terance Mann of the Los Angeles Clippers.
Report: Adidas Pauses Yeezy Releases
Adidas has now put a pause on its planned Yeezy releases, including a planned drop in November, a decision that was attributed to the company’s Board. No reason was given for the pause.
Circana Delivers Muted Holiday Retail Outlook
Holiday spending is expected to come close to last year’s results but could fall short by as much as 2.5 percent during the traditional November and December shopping season, according to Circana’s annual Holiday Purchase Intentions study. The outlook was slightly improved when holiday sales falling in October are included.
Stella Int’l Q3 Footwear Shipment Volume Falls in the High Teens
The manufacturer of footwear for Nike, Saucony, Under Armour, Merrell, Timberland and Ugg saw Q3 shipment volumes decrease by approximately 18.7 percent year-over-year, nearly triple the second quarter decline.
Shimano’s YTD Sales Tumble 20 Percent on Cycling Weakness
Shimano, Inc.’s sales tumbled 19.8 percent in the nine months as sales in its Bicycle Components segment dropped 24.8 percent with the decline tied to high inventories in the IBD channel. The Japanese-based company nonetheless slightly raised its outlook for the year as orders in the back half weren’t as soft as expected.
VF Corp. Appoints Former Nike President to Board
VF Corp. appointed former Nike executive Trevor A. Edwards to the company’s Board of Directors, effective October 22. Edwards served as president of Nike, Inc. from 2013 until 2018.
Signa Sports Prepares for Insolvency Filings
Signa Sports United (SSU), which earlier last week confirmed that it had lost a major funding commitment from its parent company, said its subsidiary, Tennis-Point GmbH, had filed for insolvency and the overall company is preparing for insolvency proceedings in the coming days.
361 Degrees Int’l Posts Double-Digit Q3 Sales Growth in Owned-Retail
The company reported that 361° branded retail stores posted 15 percent year-over-year growth for the third quarter ended September 30. E-commerce sales increased approximately 30 percent for the period.
China Kappa Retail Comps Grow Mid-Singles in Fiscal Q2
The company’s Kappa-branded retail stores in China posted mid- to low-single-digit year-over-year growth for the second fiscal quarter ended September 30.
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.
