SGB Executive Footwear
EXEC: UBS Issues ‘Bullish’ Note on Running Footwear Despite Nike’s Woes
UBS in a report said it remains “bullish” on the running footwear category despite investor concerns over a pullback in athletic footwear largely traced to weakness at Nike. Analyst Jay Sole believes Nike’s problems are “company-specific” and not a reflection of broader industry weakness.
EXEC: Nike To Be Removed from S&P 100 After Nearly 18 Years
Nike Inc. will be removed from the S&P 100 index as part of a “quarterly rebalance” designed to keep the index representative of the largest U.S. mega-cap companies by market capitalization.
EXEC: Athletic Lifestyle Footwear Turns in ‘Star” Performance for Journeys
While sluggish sales of legacy athletic footwear silhouettes are depressing sales trends at Foot Locker and JD Sports mall competitors, Journeys found athletic lifestyle product pacing its positive sales performance in the second quarter.
Dr. Martens Adds Talent from Marc Jacobs, Adidas
Dr. Martens appointed Isadora Versiani, formerly at Marc Jacobs, as global product design director and Nadia Svensson, formerly at Adidas, as global merchandising and product director.
EXEC: Sportsman’s Warehouse CEO Paul Stone Talks Back Half Plan, Healthiest Inventory in Years
The CEO said close management of inventory remains a key priority, and made that point by noting that total inventory was down over $44 million year-over-year at quarter-end. In-stocks on core products have reportedly improved from about 50 percent two years ago to over 80 percent this year.
SGB Media Closed for Labor Day Holiday Weekend
In observance of the Labor Day holiday, SGB Media will be closed after noon on Friday, September 4 and for the full day on Monday, September 7. SGB Media will return to the office and resume newsletter publication on Tuesday, September 8.
EXEC: Kappa Signs Superdry Co-Branding Deal
Italian sportswear label Kappa signed a long-term co-branding agreement with Britain’s Superdry & Co. covering apparel and footwear across the UK and select European markets.
EXEC: New Wave Group to Acquire German Team Sports Supplier Uhlsport
New Wave Group signed an agreement to acquire 100 percent of the shares in Uhlsport GmbH, a German-based maker of equipment, clothing, and accessories primarily for global football (soccer) and handball under the Uhlsport and Kempa brands.
EXEC: Nike, Inc. Sees Stock Downgrade Following Dick’s SG Guidance Cut
Truist Securities became the latest investment firm to reduce its stock rating on Nike Inc. as last week’s downward EPS revision by Dick’s Sporting Goods lowered the firm’s expectations around Nike’s recovery.
EXEC: Decathlon To Acquire 50 Percent of Sport 2000 France
Decathlon plans to acquire a 50 percent stake in the French retail chain Sport 2000 to strengthen its position in France’s rural areas and ski resorts. Decathlon only has five stores in the French Alps and Pyrenees.mountains while Sport 2000 has 190.
EXEC: On Brand Opens Store in Dallas, Texas, its 16th in the U.S. Market
The store, located in the city’s NorthPark Center upscale shopping mall, spans approximately 3,000 square feet and offers a full range of On footwear, apparel and accessories.
EXEC: Nike Inks Amendment to Brazil Distribution Agreement
The amendment provides for a rolling basis renewal mechanism, whereby the parties shall meet annually to discuss the extension of the term of the Distribution Agreement for additional periods of one year.
EXEC: Dick’s SG Absorbs Wall Street Analyst Hits After Q2 EPS Miss
The company suffered at least three investment firm downgrades of its DKS shares along with severe downward price adjustments across the board from analysts after reporting Q2 results that missed expectations and slashing its outlook due to weakness at its Foot Locker subsidiary.
EXEC: Kohl’s Gets Nike Lift in Q2 Active Business; Athletic Footwear Lags
Kohl’s management told analysts that athletic footwear continued to lag overall sales but is showing some improving trends in the current quarter with newer offerings from Nike and Adidas.
EXEC: Anta Sports H1 Revs Climb DD, Boosted by Descente, Kolon Sport
Anta Sports Products Ltd. reported revenue in the first half grew 12.9 percent year on year to RMB43.51 billion ($6.39 bn), led by a 44.2 percent surge in its All Other Brands segment (Descente, Kolon Sport, Jack Wolfskin). Sales at its flagship Anta brand grew 4.8 percent while Fila brand sales increased 6.1 percent.
