SGB Executive Footwear
Canaccord Genuity Upgrades Foot Locker To “Buy”
Canaccord Genuity raised its rating on Foot Locker to “Buy” from “Hold” due to signs of improving footwear trends, the benefits of its supply chain enhancements and its “strong and symbiotic” relationship with Nike.
Stifel Nicolaus Upgrades Under Armour And Crocs
Stifel Nicolaus upgraded Under Armour and Crocs to “Buy,” lowered Fitbit to “Sell” and lifted it price target on Nike.
Deckers Wins Fight Against Activist Investor
Triumphing from a 10-month fight against an activist shareholder, Deckers Brands said all its candidates had been elected to its board of directors at its 2017 Annual Meeting of Stockholders.
Morgan Stanley Raises Price Target On Dick’s Sporting Goods
Morgan Stanley raised its price target on Dick’s Sporting Goods to $30 from $28, believing the “company and stock are at a pivotal moment.”
City Sports Plots A Comeback
With its first store soon to reopen and an upcoming relaunch of its website, the new owners of City Sports are making progress toward its goal of reestablishing the athletic chain in urban centers.
Aisle Talk, Week Of December 4
Top headlines from the active lifestyle industry you may have missed this week.
BSN Sports Acquires Portion Of Hibbett Team Sales
Continuing its rapid consolidation of the team channel, BSN Sports completed the acquisition of a portion of the assets of Hibbett Team Sales Inc. (HTS), based in Birmingham, AL.
Cowen Cuts Adidas’ Estimates On North America Growth Concerns
Cowen lowered its estimates on Adidas for 2018 due to its belief that Nike’s product cycle is improving, heightened promotions are being seen in North America on the Adidas brand, and a possible moderation in Europe.
Cherokee Cuts Guidance, Eyes Growth In 2018
Henry Stupp, CEO, said the company’s acquisition of Hi-Tec has been “undoubtedly more costly and time-intensive than we originally forecasted.” The flagship Cherokee’s brand transition away from Target is taking longer than expected while Tony Hawk’s revenues are being impacted by weakness in Canada.
Is Amazon Overwhelming MAP Policy Enforcement?
While the arrival of online selling has led to a ramp-up in vendors implementing MAP (minimum advertised price) policies, Amazon’s growing dominance of e-commerce and increasing traction in the active lifestyle space continues to complicate the whole MAP enforcement game.
Running Industry Bounces Back
While they haven’t escaped the digital disruption that’s impacting all of physical retail, the run specialty channel appeared in better spirits at last week’s The Running Event in Austin.
Sheikh Shoes Betting On Nike For Turnaround
Sheikh Shoes ultimately blamed its trip to bankruptcy court on its inability to secure shipments from Nike, by far its largest supplier that holds an unsecured creditor’s claim of $16 million in the case. But it’s also counting on Nike to revive its fortunes.
Genesco Sees NFL’s Challenges Challenging Lids
Bob Dennis, Genesco’s CEO, said “the well-publicized challenges facing the NFL have meaningfully dampened demand for NFL licensed merchandise during the heart of football season” to impact Lids’ sales during the third quarter. Also impacting lids has been a less-favorable MLB playoff lineup, a disappointing performance this year by some key college teams, and a lack of a strong headwear trend.
Aisle Talk, Week Of November 27
Top headlines from the active lifestyle industry you may have missed this week.
Billabong Explores Quiksilver Merger
Shares of Billabong climbed 23 percent after the company disclosed that Boardriders Inc., formerly known as Quiksilver Inc., had made an offer to acquire the company. Billabong indicated that its board will evaluate the proposal.
