SGB Executive Footwear
EXEC: VF Corp. Sets Medium-Term Targets at Investor Day
At VF’s Investor Day, “Reinvent to Grow,” company President Bracken Darrell highlighted six areas that the company is focused on at the enterprise level to build a competitive advantage and revive profitability and growth.
EXEC: Big 5 Sees Improving Sales Trends Leading into Holiday Season
The retailer saw the Apparel and Footwear categories each down ~9 percent and Hardgoods was down ~6 percent in Q3 but a number of product categories are contributing to the improvements in sales trending, including the early rates in fall and winter apparel.
Brooks Running Reaches $1 Billion Milestone in Nine-Month YTD Period
The gains in the third quarter were said to be boosted by a 10 percent year-over-year increase in North America, led by 16 percent e-commerce growth. Revenues grew 10 percent in the EMEA region, reportedly fueled by 24 percent e-commerce sales growth.
EXEC: Adidas Settles with Kanye, But Yeezy Hangover Still a Drag on Strong Third Quarter
With this settlement, Adidas unwound a €100 million provision related to outstanding legal issues over the Yeezy break-up and now plans to also donate that sum to charities. Including the €100 million, total funds earmarked for charity related to the Yeezy inventory sell-off now stand at about €250 million.
EXEC: VF Corp. CEO Sees Recovery Gaining Traction at TNF and Vans Parent
On VF’s quarterly analyst call, Bracken Darrell, CEO and president, said the second quarter delivered “another quarter of really good progress,” marking the third straight quarter of sequential top-line improvement in the decline rate and witnessing moderating sales declines at its two most challenged areas: Vans and the Americas region.
EXEC: Crocs Inc. Shares Dive Over HeyDude Brand Struggles, Crocs Brand Softens
Crocs shares fell $26.50, or 19.2 percent, to $111.58 per share Tuesday after the footwear company reported third-quarter results topped analyst estimates but tempered its full-year sales guidance as the turnaround at HeyDude falls behind schedule.
EXEC: AlixPartners Survey is Latest to Find Nike Losing Mind Share in Sneakers
An accompanying survey conducted by the financial advisory and global consulting firm is the latest to indicate that the brand has lost market share to competitors, including Adidas, New Balance, Hoka, and On.
EXEC: Yue Yuen Forecasts Strong YTD Profit Growth as Footwear Market Normalizes
The Hong Kong-based firm said the gains were “mainly attributable to the solid increase in the gross profit margin of the group’s manufacturing business alongside a substantial rise in brand customers’ demand for its footwear products.
EXEC: Fenix Outdoor Hopes for Better Times Ahead as Q3 Continues Downward Trend
The executive chairman of the Board for the parent of the Fjällräven, Royal Robbins, Hanwag, and Fenix Outdoor brands said the quiet part out loud in his letter to investors regarding the quarter when he said there was not much positive to say from a sales perspective.
EXEC: Hoka Drives Deckers Brands’ Fiscal Q2 Growth; Prompts Guidance Bump
DECK now expects Hoka to increase approximately 24 percent year over year, reflecting the continued strength of global demand. Ugg is still expected to grow mid-single digits, and diluted earnings per share expectations range from $5.15 to $5.25 for the year.
EXEC: Saucony Brand’s Q3 China Retail Sell-Through Growth Exceeds 50 Percent
The core Xtep Brand posted a mid-single-digit year-over-year growth for the offline and online channels in China, with a discount of ~25 percent for the three months ended September 30.
EXEC: Birkenstock Takes Over Direct Distribution in South Korea
The company will capitalize on the South Korean consumer’s buying potential selling DTC through its online shop. In spring 2025, it will open its own stores and expand with selected department stores.
EXEC: Hoka & Ugg Parent Gets October Surprise Downgrade; Others Say Not So Fast
BTIG Analyst Janine Stichter and her team cited concerns over slowing growth trends in the company’s Hoka and Ugg businesses. Williams Trading Analyst Sam Poser started his recent Deckers Brands note with, “Buy DECK.”
EXEC: Li Ning Posts Mid-Single-Digit Retail Sales Decline in Third Quarter
The offline channel, including retail and wholesale, posted a high-single-digit decline for the quarter, while the company’s e-commerce virtual stores business registered mid-single-digit growth for the period.
EXEC: Li Ning Forms Joint Venture to Manage Brand Outside of Mainland China
The joint venture (JV) will develop and operate the Li Ning Brand business outside of Mainland China, principally in an area that includes Hong Kong, Macau Special Administrative Region and Taiwan, on an exclusive basis.
