SGB Executive Footwear
Zumiez Sees Q1 Losses Widening
Said Rick Brooks, CEO, “We see heightened macro level economic unpredictability and continue to be impacted by other headwinds that have plagued the retail sector for most of the last few years.”
Dorel Sports Stung By Delays In Bike Purchases
Martin Schwartz, president and CEO of Dorel Industries, said, “Dorel Sports has worked throughout 2016 to position itself for an earnings rebound this year, excess industry inventories have been reduced and the ramp in discounting should not be repeated.”
Bogs Q4 Revenues Continue To Feel 2015 Winter Hangover
Thomas Florsheim, Weyco Group’s CEO, said, “While retailers are currently much cleaner than last year at this time, our sense is that they will continue to take a conservative approach towards inventory levels given the inconsistency of the weather the past couple of winter seasons.”
JackRabbit’s New Owner Eyes Expansion
Said Bill Kirkendall, CEO of JackRabbit, in an interview with SGB, “Our strategy is to consolidate all stores under the JackRabbit banner and grow organically and through acquisitions.”
Adidas Ramps Up Growth Goals
In his second quarterly conference call since taking over as CEO of Adidas AG, Kasper Rorsted strongly bumped up the company’s long-term growth outlook while announcing several new initiatives to support its five-year ‘Creating the New’ business plan.
Adidas Brand Stars In Q4
Adidas Brand’s gain of 18 percent on a currency-neutral basis was driven by double-digit growth in the running category as well as at Adidas Originals and Adidas Neo. In addition, high-single-digit growth in the training category contributed to the top-line improvement.
Black Diamond Returns To Core Focus For 2017
“The recurring take-away was retailers’ perception that Black Diamond had been distracted over the past four to five years by various strategic initiatives,” said John Walbrecht, president, about his discussions with retailers since joining the company five months ago.
Dick’s To Eliminate 20 Percent Of Its Vendor Mix
While reporting fourth-quarter earnings that arrived slightly ahead of targets, Dick’s Sporting Goods Inc. said it’s implementing a new merchandise and vendor matrix that will reduce up to 20 percent of its brands.
5.11 Tactical Delivers Double-Digit Growth In Q4
Compass Diversified Holdings reported sales at 5.11 Tactical rose 19 percent in its fourth quarter while Liberty Safe’s fourth-quarter revenue rose 7 percent.
Aisle Talk, Week Of February 27
Top headlines from the active lifestyle industry you may have missed this week.
Backwoods Finds Buyer
Jennifer Mull, previous CEO of Backwoods Retail, Inc. has agreed to a consulting arrangement with the new company.
Finish Line Sells JackRabbit For Nothing
As part of the sale agreement, Finish Line made a payment of $8.3 million into the JackRabbit business as part of pre-closing restructuring and must make an additional $700,000 payment to the buyer, CriticalPoint Capital, on or before September 30, 2017.
Crocs To Shutter A Quarter Of Its Locations
Gregg Ribatt will step down on June 1 and will be replaced by Andrew Rees, who joined Crocs two years ago as president. Ribatt will remain on the company’s board.
Big 5 Boosted By Competitor Exits
“We’re very encouraged that the profit and sales momentum has continued and actually accelerated into the first quarter of fiscal 2017,” CEO Steven Miller said on a conference call with analysts.
Foot Locker Thriving Despite Mall Woes
Driven by a healthy appetite for running lifestyle product and its positioning as the headquarters for sneakerheads, Foot Locker Inc. reported fourth-quarter earnings that handily exceeded Wall Street targets. Foot Locker will wind up becoming one of the few mall operators to report that traffic grew over the holiday season.
