SGB Executive Footwear
EXEC: Puma Narrows Q2 Loss, Sales Slump 9 Percent
Puma SE reported currency-adjusted sales declined 9.4 percent for the second quarter due to the impact of ongoing business “reset” measures and reduced consumer demand. Adjusted sales in North America declined 16.7 percent. The brand maintained its annual guidance, which now includes a potential hit from the Middle East conflict and possible positive effects from lower tariff rates and tariff refunds worth just above or below €50 million.
EXEC: Crocs’ Shares Fall on Weak Q3 Guidance, North America Growth Concerns
The company raised its guidance for sales and earnings for the year after reporting second-quarter results topped expectations with better-than-expected growth at the Crocs Brand and a smaller-than-expected decline at HeyDude.
EXEC: Birgit Kretschmer to Re-Join Adidas AG as CFO as Harm Ohlmeyer Plans for Year-End Exit
Kretschmer previously spent 25 years of her professional career in different leadership roles across the Adidas organization, including CFO of Adidas International BV, CFO of Western Europe, and SVP corporate & operations finance, which included overseeing the company’s Accounting, Treasury and M&A activities.
EXEC: Did Adidas Overspend on World Cup Marketing?
Second quarter sales surged 14 percent on a currency-neutral basis as the brand’s World Cup success stimulated demand. Still, shares were trading down sharply on Thursday, July 30 as profits missed analysts’ expectations due to ramped-up marketing spend behind the event.
EXEC: Rocky Brands Accelerates to Double-Digit Growth, Xtratuf Shines
Rocky Brands, Inc’s Q2 sales climbed 12 percent, its first double-digit gain in a quarter since 2022. Solid double-digit growth was seen by Georgia Boot, Rocky and the Lehigh safety shoe business, but Jason Brooks, chairman, president and CEO, told analysts that XTRATUF remained the company’s “fastest-growing brand.” Shares of Rocky Brands climbed 15 percent on the performance and improved outlook.
EXEC: Geox Sales Slump 11 Percent in First Half
Geox S.p.A., the Italian footwear brand, reported improved earnings in the first half, despite a 11.4 percent sales slump (-11.6 percent at constant exchange rates) due to a pullback in consumer spending, store closures, and weak store traffic.
EXEC: On Brand Opens First Store in the United Arab Emirates
On Holding officially opened its first store in the United Arab Emirates at the Mall of the Emirates in Dubai, marking the Swiss running brand’s third store in the Gulf Cooperation Council (GCC) region with plans to add another nine retail locations across the GCC over the next two years.
EXEC: Hoka’s Growth Momentum Expected to Reawaken as Distribution Broadens
Although some analysts following Deckers Brands are concerned about heightening competition in the run category, most remain confident that Hoka will be able to accelerate growth in the second half of its current fiscal year with the help of new models and door expansion, including news of its opening up sales to the UK’s Sports Direct.
EXEC: Quebec Outdoor Retailer, La Cordée, Files For Creditor Protection
Quebec-based outdoor retailer La Cordée filed for creditor protection for the second time in six years. According to court documents, the five-store chain owes more than $17 million in liabilities.
EXEC: Coats Group Sees OrthoLite’s Sales Dip in First Half
Coats Group plc reported revenue at its Ortholite insole business declined in the first half ended June 30 on a pro-forma basis due to challenging year-ago comparisons and temporary capacity issues in Indonesia. OrthoLite is projected to return to growth in the second half.
EXEC: Frasers Acquires Scotland’s Greaves Sports
Frasers Group, the parent of Sports Direct, announced the acquisition of Greaves Sports, which operates a famed six-story flagship in Glasow, Scotland.
EXEC: Sports Direct Lands Hoka as New Everlast Gyms+ Combo Opens in Dublin
The UK-based retailer opened an 85,000-square-foot integrated Sports Direct and Everlast Gyms+ flagship on Henry Street in Dublin, combining for the first time a retail and fitness format outside the UK. The opening also marks the official launch of Hoka in Sports Direct stores.
EXEC: Yue Yuen Issues Profit Warning
Yue Yuen Industrial, Ltd. said it expects a decrease of approximately 55 percent to 60 percent in its profit in the six months ended June 30, citing reduced orders due to a pullback in consumer demand, cost pressures and manufacturing inefficiencies.
EXEC: Hoka Growth Concerns Cloud Deckers Brands Fiscal Q2
Deckers Brands maintained its guidance calling for Hoka to deliver growth in the low-double-digits in its fiscal year despite the running brand seeing sales slow to high-single-digits in the fiscal first quarter ended June 30 and expected to expand at a similar rate in the current quarter. DECK shares are running down about 4 percent in mid-day trading due to investor skepticism over Hoka’s ability to accelerate growth in the back half of the fiscal year.
EXEC: Ugg’s Fiscal Q1 Growth Boosted by Gains with Males
Deckers Brands reported that Ugg’s 4.9 percent sales growth in the fiscal first quarter ended June 30 largely reflected success reaching male consumers. On an analyst call, Stefano Caroti, Deckers’ CEO and president, said the men’s business “accounted for the largest portion of incremental Ugg revenue.”
