SGB Executive Footwear
EXEC: Asics Sees 2024 Lifestyle Footwear Sales Surge 50+ Percent
The company’s SportStyle and Onitsuka Tiger categories each posted growth in excess of 50 percent year-over-year to nearly ¥100 billion each, while operating profits more than doubled for each category versus 2023. SportStyle sales grew 120 percent in the North America region.
EXEC: Sebago, Superga, K-Way Parent BasicNet Posts Solid 2024 Gains
BasicNet S.p.A., the Turin, Italy-based parent of the Sebago, Superga, Briko, Kappa, K-Way, Jesus Jeans, and Sabelt brands, has reported that full-year consolidated revenues increased 3.1 percent year-over-year to €409.2 million in 2024.
EXEC: On Holding Gets Goldman Downgrade; Nike Sees Analyst Call for Patience
Last week, Nike got a downgrade on its shares from Citibank, and now On Holding is downgraded, which is a tough move for one of the hottest footwear brands in the active lifestyle market to get negative attention.
EXEC: Fenix Outdoor Sees Credit Issues and Weather Impact Q4
The parent of Fjällräven, Royal Robbins, Hanwag, and Fenix Outdoor brands reported that the 2024 fourth quarter started promising, but a delay in winter weather meant it slowed down before improving again toward the latter part of the quarter.
EXEC: JD Sports Fashion Plc Shifts Leadership at JD Outdoor Segment
Dominic Jordan, the former CEO of Hobbycraft, assumes the top seat held by outgoing CEO Lee Bagnall for the past 12 years. Bagnall has agreed to stay on for a transition period.
EXEC: Asian FW Factories See Weaker January Trends; Pou Sheng Retail Jumps
Feng Tay Enterprises, one of the longest-tenured manufacturers of Nike footwear, reported manufacturing revenues declined 6.2 percent in January and Yue Yuen’s factory business grew an anemic 1.1 percent increase in December.
EXEC: Citi Downgrades Nike Shares, Cuts Price Target After Hill Meeting
Nike management indicated that Air Jordan and Air Force One will “still be large franchises” even after inventories are managed lower, but Dunks will “not be a relevant part” of the mix over time.
EXEC: Liberated Brands Store Closings Commence in U.S. Markets
Gordon Brothers has begun closing sales at all 122 Volcom, Billabong, Quiksilver, Roxy, Honolua Surf, RVCA, Beachworks, Becker Surfboards, ZJ Boarding House, Spyder and Boardriders store locations under Liberated Brands’ retail fleet in the U.S.
EXEC: Nordic SG Retailer XXL Sees Q4 Sales Decline
Norway-based sporting goods retailer XXL ASA said it delivered total operating revenue of NOK 7.2 billion in 2024 in a Nordic sporting goods market that persisted to be challenging. Fourth quarter sales declined 1.8 percent year-over-year.
EXEC: Mizuno Corp. Sees Modest Q3 Revenue Growth In Americas Region
Mizuno Corp. reported sales in the Americas region rose 1.2 percent in the third quarter and gained 6.6 percent in the nine-month YTD period. Consolidated global sales in the third quarter grew 4.3 percent to ¥55.8 billion
EXEC: Under Armour Cautious on North America’s Return to Growth
Under Armour, Inc. reported third-quarter results that exceeded guidance for the third straight quarter with the help of some recovery in North America. However, Under Armour CEO Kevin Plank declined to forecast a return to growth in the region, with the current priority of driving full-price sales.
EXEC: Liberated Brands Gets Bankruptcy Court Approval to Access DIP Funds
The former licensing company set up to manage Authentic Brands Group’s collection of action sports lifestyle brands filed for Chapter 11 bankruptcy protection on Sunday with $3.3 million in cash on hand and $226 million in debt, according to court filings.
EXEC: Columbia Sportswear Shares Fall on Q4 EPS Miss and Tepid Q1 Forecast
Net sales increased 3 percent to $1.10 billion in the fourth quarter. First quarter net sales are expected to range between $749 million and $764 million, representing a decline of 3 percent to 1 percent from $770 million for the comparable Q1 period in 2024.
EXEC: JD Group Appoints Jared Briskin as CEO of Hibbett
Hibbett was acquired by global active lifestyle retail behemoth JD Group in July 2024. Briskin, who had been serving as EVP of Merchandising at the time of the sale, was promoted to COO after the sale closed and added the President title shortly thereafter.
EXEC: Liberated Brands Files for Chapter 11 Bankruptcy Protection
Liberated Brands LLC, the former licensing arm for Authentic Brands Group’s collection of action sports lifestyle brands, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware.
