SGB Executive Footwear
New Iconix CEO Seeks More Global Approach
Noting that the majority of the company’s 29 brands “have more mindshare than closet share,” Bob Galvin in his first conference call as president and CEO of Iconix Brand Group Inc. promised to push collaboration among licensing partners in a more unified approach. Unfortunately, a bad debt charge from Sears’ bankruptcy stalled progress in the latest quarter.
4 Hot Topics From Outdoor Retailer Winter Market
Exhibitors and retailers offered mixed reviews of last week’s Outdoor Retailer Winter Market—the first in November and first in Denver—with the majority of companies that SGB interviewed saying they lamented the show’s lack of attendees and overall dearth of energy but lauded the show’s new date.
Mizuno’s Americas Region Returns To Profitability In Six Months
Mizuno Corp. reported that sales in the Americas dropped 16 percent in the second quarter ended September 30 but the region returned to the black in the six months.
Bogs Impacted By Later Fall Shipments In Q3
Bogs’ sales were down 5.3 percent on a wholesale basis for the third quarter as shipments shifted later into the fall season. But parent Weyco Group still expects the outdoor shoe brand to deliver an increase in revenue for the year.
Jim Weber Discusses Brooks’ Renewed Momentum
In October, Brooks Running Co. reported a whopping 29-percent increase in global revenue in the first nine months of this year, representing a strong bounce back for footwear’s run specialty leader. Here, Brooks Running CEO Jim Weber discusses Brooks’ return to strong double-digit growth, the recovering run specialty channel, the challenges around potential tariffs and what’s ahead for Brooks in 2019.
Morgan Stanley Bearish On JD Sports/Finish Line Merger
In a report entitled, “Is the Finish Line a step too far?,” Morgan Stanley initiated coverage of JD Sports Fashion Plc with an “Underweight” rating largely due to concerns over its recent mega-acquisition of The Finish Line. Part of that concern is that the merger comes as Nike and Adidas are rapidly expanding their direct-to-consumer (DTC) channels.
Crocs’ Stock Jumps As Turnaround Gains Further Traction
Shares of Crocs Inc. jumped $5.91, or 27.6 percent, to $27.35 on Thursday after the company reported earnings that flew past Wall Street’s targets on 13.7-percent growth in the Americas region and meatier gross margins. Guidance was sharply lifted for the year.
Canadian Tire Touts Growth Potential For Helly Hansen, Looks To Reset Sport Chek
On its third-quarter conference call, Canadian Tire officials indicated that Helly Hansen, acquired in early July, is off to a “good start” with its integration process and should find a bigger presence across the company’s Canadian stores by mid-2019. They also laid out plans for Sport Chek to re-merchandise departments by categories instead of by brand, expand private labels, and improve inventory productivity.
Active Brands Making Progress In Sequential’s Q3
While posting a steep loss on impairment charges in the third quarter, Sequential Brands reported that its three active brands – Avia, Gaiam and AND1 – are all gaining traction in the marketplace
Adidas Finds Yeezy Boost Can’t Offset Europe Slowdown
Adidas lifted its profitability guidance for the year after reporting robust third-quarter earnings due to better-than-expected margins and strong double-digit growth in North America, China and across e-commerce channels. Yeezy delivered Adidas’ largest digital-release. But the year’s sales outlook was lowered as softness arriving in Europe earlier in the year worsened in the third quarter.
Wolverine World Wide Shares Slide On ‘Choppy’ Revenue Growth
Shares of Wolverine World Wide Inc. fell $3.28, or 9.1 percent, on Wednesday after the company reported another quarter of what CEO Blake Krueger called “choppy” revenue growth for 2018. Reported revenue of $558.6 million decreased 3.9 percent during the third quarter and missed Wall Street targets by $23.5 million.
Black Diamond’s Strong Q3 Helps Clarus Reach New Heights
A stellar third quarter from Black Diamond propelled the brand’s parent Clarus Corp. to post record sales in the period and also prompted the company to lift revenue and EBITDA guidance for 2018. Black Diamond notched 12 percent growth, including 14 percent growth in climb and 40 percent growth in apparel.
SGB Executive Q&A: Topo Athletic CEO Tony Post
Topo Athletic, the footwear company that longtime Vibram USA executive Tony Post launched five years ago, has much more to celebrate than a milestone anniversary. Post spoke with SGB about other recent achievements at the brand, including a new partnership with his old company and what drove the company’s decision to enter a new category.
Retail Reports Roundup
Retail studies arrived on increasing rates of discretionary spending online, online personalization disappointing consumers, disconnects around consumers pricing perceptions, unplanned absence creating selling floor shortages, and rewards members desire for cash.
Asics Sees 8 Percent Q3 Sales Drop In The Americas
Asics Corp. reported an operating loss in its American region of ¥398 million ($3.5 mm) in the third quarter as sales declined 8.1 percent. Companywide, Asics slashed its earnings guidance for the year as it also saw a steep decline in profits in the Europe and a modest decline in Japan.
