SGB Executive Footwear
Where Is VF Corp.’s Growth Coming From?
Hyper-growth online at both its DTC (direct to consumer) and wholesale accounts, continued momentum with Vans and outsized expansion overseas, especially in China, are being counted on to reach its new five-year growth goals.
Gander Mountain Still Hopes For Going-Concern Sale
Despite reaching a deal with a group of liquidators to become the stalking horse bidder in a planned bankruptcy auction, Gander Mountain said it remains in talks with strategic investors interested in buying the retailer on a going-concern basis.
Aisle Talk, Week Of March 27
Top headlines from the active lifestyle industry you may have missed this week.
Asics Establishes Boston Base
Said Gene McCarthy, president and CEO, Asics America, in an interview with SGB, “Setting up a global hub in Boston allows us to better align with our strategic initiatives and focus on key areas for growth, including our apparel and digital teams.”
Road Race Finishers Down For Third Straight Year
The 5K distance saw an increase in finishers in 2016, with 8.24 million runners crossing the finish line. However, the 10K, half marathon and “other” distances saw decreases of four percent or greater. The marathon finisher total remained flat.
Yue Yuen Reported 0.5 Percent Sales Growth For 2016
Chairman Lu Chin Chu commented, “We are pleased with the Group’s performance despite the presence of uncertainties and slow global macroeconomic growth. We will continue to seek greater efficiency and provide value added solutions to our brand customers, while balancing the need for sustainable development.”
Aisle Talk, Week Of March 20
Top headlines from the active lifestyle industry you may have missed this week.
Finish Line Shares Crash On Q4 Miss
Said CEO Sam Sato, “Elements of our offering didn’t resonate with our customers. This was true in both, running and basketball, our two largest categories where full price selling fell short of forecast.”
Shoe Carnival Planning Bigger Athletic Business
Said CEO Cliff Sifford on a conference call with analysts, “Athletic is and has been for the last three maybe four years the hottest category we have and we do look for athletic to grow at a higher rate than non-athletics.”
Eastern Outfitters Faces Objections Over Sports Direct Bid
In defending the stalking horse bid, Eastern Outfitter’s lawyers noted that the alternative to accepting Sports Direct’s proposal was a liquidation. Indeed, the retailer said it was “fully prepared” to liquidate ten days before the bankruptcy petition date.
Luke’s Locker Wins Court Approval To Hire Restructuring Officer
Joseph Sullivan Associates (JSA) will help determine the optimal turnaround strategy, including a potential restructuring, refinancing and/or sale of assets.
Acushnet Q4 Boosted By Robust Golf Club Sales
While the bankruptcy and liquidation of Golfsmith impacted U.S. sales, Acushnet Holdings Corp. still managed to show a modest gain in sales in the fourth quarter while improving profitability.
Nike Grapples With Promotional North American Climate
Said Andy Campion, EVP and CFO, on the company’s third-quarter conference call with analysts, “Digital disruption and other dynamics are resulting in more aggressive promotional activity than we expected 90-days ago. So we are going to remain tight, with respect to the supply that we are putting into the North America market in the short-term.”
Nike Accelerates Efforts To Reach Digital Consumers
Said Mark Parker, president and CEO, “The consumer has decided digital isn’t a just part of the shopping experience. Digital is the foundation of it. This and other factors have shifted consumer patterns, especially in North America, impacting traffic, the economics of brick-and-mortar retail and is driving a more promotional environment in the near term.”
Nike Q3 Boosted By International Gains
Beyond double-digit gains in double-digit growth in Western Europe, Greater China, the Emerging Markets as well as DTC overall, Nike’s better-than-expected earnings were helped by expense leverage, higher other income and a lower effective tax rate.
