SGB Executive Footwear
EXEC: JD Sports Completes Acquisition of Largest Sneaker Retailer in France
The company has completed its acquisition of Groupe Courir S.A.S. following receipt of conditional clearance from the European Commission on October 22, 2024 and the satisfaction of all other outstanding conditions.
Reports: Black Friday Online Shopping Breaks Records as Brick & Mortar Traffic Wanes
At first glance, it appears that Black Friday weekend did not materialize as hoped or expected this year as e-commerce came out the clear winner for Black Friday and brick & mortar sales suffered for the official start of the Christmas holiday shopping season.
EXEC: Golden Goose Gets Double-Digit EBITDA Boost in YTD Period as DTC Stores Lead
EMEA accounted for 49 percent of the Group’s net revenues in the YTD period, while the Americas contributed 38 percent in total revenues. The Americas region posted double-digit growth in the DTC channel due to new store openings and positive retail year-over-year comps.
EXEC: Sports Direct Parent Set to Acquire South Africa’s Holdsport Group
Frasers Group, the parent of UK-based Sports Direct, has closed on an agreement to acquire South Africa-based Holdsport Group from Old Mutual Private Equity and Holdsport’s management.
EXEC: Dick’s SG Beats Q3 Expectations; Increases 2024 Comp Sales and EPS Outlook
The company raised full-year 2024 guidance for comparable sales growth to a range of 3.6 percent to 4.2 percent, up from 2.5 percent to 3.5 percent previously, and raised diluted EPS guidance to between $13.65 to $13.95 per share, up from $13.55 to $13.90 previously.
EXEC: VF Corp. Shuttering East Coast DC, Moving Dickies to Vans HQ; 360 Jobs Impacted
The two moves, seen as part of the company Reinvent plan, are expected to impact 242 employees at the Virginia distribution center and another 120 Dickies staff with the move to California.
EXEC: JD Sports Expects Full Year Profit at Lower End of Forecast on Weaker Comps
After a good start to the period, helped by strong back-to-school sales, the parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail banners said it saw increased trading volatility in October, particularly in North America and the UK, reflecting elevated promotional activity and mild weather.
EXEC: Target Corporation Shares Hit New Low After Q3 Miss, Disappointing Guidance
For the fourth quarter, the company now expects approximately flat comparable sales and GAAP and Adjusted EPS of $1.85 to $2.45, translating to a full year expected GAAP and Adjusted EPS range of $8.30 to $8.90 per share.
EXEC: Wilson Sports Business Returns to Double-Digit Growth in Q3; Bolsters Owned Retail
Wilson’s marquee racquet sports franchise and the small but fast-growing softgoods segment were reported to lead the return to double-digit growth. Inflatable balls and golf also reportedly returned to growth in the third quarter.
EXEC: Salomon Gets New CEO as Growth Moderates in Q3 on Weaker Equipment Business
By region, strong growth in Greater China and APAC was said to be partially offset by slower sales in EMEA and North America. The company expects to end 2024 with approximately 200 Salomon stores in China, with the opportunity to grow to several hundred locations over time in just Tier 1 and 2 cities.
EXEC: Arc’teryx Outperforms Once Again in Q3 Despite Tough 2023 Comps
Direct-to-consumer remains the brand’s core growth engine, but Arc’teryx also reported strength in the Wholesale channel, which grew 26 percent. U.S. Wholesale was reportedly a standout for the quarter, especially for Arc’teryx.
EXEC: Amer Sports Sees Sharp Contrast Between West and East in Q3; Provides China Update
Amer Sports, which is majority owned by its China retail partner, highlighted on its conference call with analysts that while other consumer companies faced challenges in Greater China in Q3, Amer generated 56 percent growth in the region, continuing to “well outperform the market.”
EXEC: Scottish Retail Industry Urges Consumers to be Considerate this Christmas Season
Scotland’s retail trade association and its trade union for retailers have joined together this holiday season to encourage more “considerate” Christmas shopping in 2024.
Rig Footwear Expands Sales Channels in East Asia Region
Japan-based Rig Footwear has entered into a new partnership agreement with Hong Kong-based Step Hill International Co. Ltd. to strengthen market development and distribution in East Asia (Taiwan, Singapore, and Malaysia).
New StockX Report Sees Performance Footwear Now Dominating Demand
The company released its latest trend report, Big Facts: 2024 Trends, highlighting the brands and products that have made a mark on the 20224 sneaker resale market.
