SGB Executive Footwear
Crocs Profits Recover, Revenues Stagnate
While Crocs’ third quarter showed that its bottom-line to benefit from cost-cutting initiatives and focus on higher-margin sales, top-line growth remains a struggle and management inferred that sales would be flat in 2018.
Under Armour Upgraded Due To Re-Accessed Expectations
In a note, Susquehanna analyst Sam Poser that while Under Armour’s business “will be challenging for some time,” the downside to owning the stock is “more limited as UAA may have set the bar low enough to allow the company to hit the reset button.”
Asics Sales Slides 4.4 Percent In North America In Q3
Sales in the U.S. were down 11.4 percent on a currency-neutral basis in the first nine months of 2017.
Aisle Talk, Week Of October 30
Top headlines from the active lifestyle industry you may have missed this week.
Gildan Activewear’s Top-Line In Q3 Impacted By Sock Slowdown
The overall sock business was down in the quarter due to weak demand in the sock category, particularly for higher-margin sock brands in department stores, national chains, and sporting goods.
Champion’s Sales Climb Double Digits In Q3
Asked if the Champion brand is feeling pressure from the promotions being employed by Nike and Under Armour to reduce inventories in the U.S. market, Gerald Evans, HanesBrand’s CEO, said the core Champion business “was up 20 percent in our sporting goods and department store mid tiers. We now have the TSA bankruptcy behind us and we saw nice growth in our Sports License Apparel business as well.”
Big 5 Gaining Market Share Out West
Shares of Big 5 Sporting Goods jumped on Wednesday after the West Coast-based chain indicated it’s holding onto market share gained from the exit of older competitors (Sports Authority, Sports Chalet) while faring well against a newer competitor (Dick’s).
Bogs Q3 Impacted By Later Winter Deliveries
“As a result of the late winter weather the nation experienced the last two winters retailers continued to bring in inventory later and also maintain conservative models,” said Tom Florsheim, Jr., chairman and CEO of Weyco Group.
Under Armour’s Shares Crash On Slashed Outlook
Shares of Under Armour fell $3.89, or 23.7 percent, to $12.52, on Tuesday after the company significantly reduced its outlook for the year due to further erosion in its U.S. business and indicated the weakness would likely continue in 2018. Sales in the second quarter also fell short of Wall Street’s targets as sales declined for the first time since the company went public in 2005.
Wall Street Reacts: Nike 2017 Investor Day
Wall Street generally applauded Nike’s plans to ramp up its commitment to innovation and build digital connections spelled out at its Investor Day event last week, but a few were looking for greater insights into near-term trends, especially visibility into when the North America region may recover.
VF Corp. Upbeat For Holiday
In an interview with SGB. Steve Rendle, president and CEO of VF Corp., said that while October started “a little slow,” sales have picked up as “the weather began to become more fall like” and the company remains optimistic about holiday selling. He also said he remains bullish on The North Face and Timberland regaining top-line momentum.
Aisle Talk, Week Of October 23
Top headlines from the active lifestyle industry you may have missed this week.
Deckers Abandons Sales Plan After Delivering Blowout Q2
Deckers Outdoor said it is no longer actively pursuing a sale of the entire company while reporting second-quarter results that came in well ahead of guidance.
Columbia Sees U.S. Wholesale Returning To Growth First Half Of 2018
Columbia Sportswear’s third-quarter results came in better than expected as growth overseas and in its U.S. DTC business offset another steep decline in U.S. wholesale revenues. But officials predicted U.S. wholesale growth would resume in the first half of 2018.
Amer Sport Sees Sales Picking Up
Driven by apparel, direct-to-consumer and China, Amer Sports reported sales on a currency-neutral basis rose 3 percent in the third quarter, accelerating from a 1 percent gain seen in the second quarter. Strong growth in apparel, Fitness, and Winter Sports offset declines in cycling, sports equipment and ball sports.
