SGB Executive Outdoor
EXEC: New Nike Inc. CEO Lays Out Pain Points Ahead and Plans to Re-Focus on Sport
The new CEO did not ride in on a white horse or a chariot as a conquering hero, but as a janitor, not unlike Mr. Earl, who realizes he has a big job to do but also has a clear mind on what must be done.
EXEC: Nike’s NA Q2 Footwear Down 14 Percent; Reduces Classics Share of Business
In North America, Nike Direct declined 15 percent, with Nike Digital down 22 percent and Nike stores down 3 percent.
Wholesale declined 1 percent. Nike said it took another step forward shifting the product portfolio by reducing the proportion of our business driven by the Classic Footwear franchises.
EXEC: Nike Inc. Q2 Reaction May Be More About the CEO’s Plan – Not Key Metrics
That plan has to include boosting innovation in a market that has embraced On, Hoka and a number of other nascent running brands that have taken share in the “technology as fashion” column, as well as brands such as Adidas and Asics that are taking share on the lifestyle side.
EXEC: UK Retail Sheds 225,000 Jobs in Five Years but Pay Growth Up 25 Percent
Pay growth at retail was said to be well above the national average at 8.5 percent in 2024, and up over 25 percent since 2021. The October Budget increases the National Living Wage by a further 6.7 percent, adding over £2.7 billion to retailer wage bills from April 2025.
EXEC: Clothing and Footwear Are Key Contributors to UK’s Growing Inflation
November’s figures were driven primarily by increased inflation rates of fuel, clothing, and footwear, according to the British Retail Consortium (BRC).
EXEC: Rapala VMC Names Cyrille Viellard Next President and CEO
Current President and CEO Lars Ollberg will retire on March 6, 2025. He has worked for the company for over 45 years. Incoming President and CEO Cyrille Viellard, who has worked at Rapala VMC since 2014, will assume the CEO role on March 7, 2025.
EXEC: Smartwool and Icebreaker Consolidate Distribution in Benelux
Smartwool has appointed Ideavelop BV as its exclusive distributor for the Belgium, the Netherlands and Luxembourg building on a 25-year relationship with VF Corporation sister brand Icebreaker.
EXEC: Perfect Moment Opens First Seasonal Store in Austrian Alps Ski Resort
The establishment of the Kitzbühel store, the fashionable winter ski resort in the Austrian Alps, follows the October opening of the company’s first seasonal retail location in New York City’s SoHo neighborhood.
PwC’s 2025 M&A Outlook Sees Arrows Pointing Up for Deal Flow
PwC’s analysis of PitchBook Data, Inc., found that several thousand PE exits were delayed over the past two years. The company said some of these exits are more likely to happen now that more certainty has returned to the market — meaning more potential targets for corporate acquirers.
EXEC: Giant Group’s 2024 Trend Degrades Further as November Sales Fall 16 Percent
The Taiwan-based bike manufacturer saw its 11-month year-to-date (YTD) sales trend fall further in November after mid-single-digit declines in October and September.
EXEC: Roots Sees Solid Q3 Growth Continuing into Fourth Quarter
Roots Corporation reported that total fiscal third quarter sales were CN$66.9 million for the 13-week period ended November 2, a 5.3 percent increase as compared to CN$63.5 million in Q3 2023, led by double-digit growth in P&O sales.
EXEC: Macy’s Completes Investigation into Accounting Issues; Lowers Q3 EPS Guidance
The retailer is now reporting it is revising its EPS guidance downward, an announcement that sent M shares tumbling nearly 10 percent in pre-market trading on Wednesday, December 11.
EXEC: Adidas HQ Raided Amid On-Going Tax Probe
Adidas has reassured stakeholders that it has compiled and has been cooperating with authorities over an extended period, furnishing them with the documentation and pertinent information required to the tax investigation.
EXEC: Far Bank Evolves European Distribution with UK-Based Guide Flyfishing
Guide Flyfishing will be taking over Scandinavian distribution responsibilities effective January 1, 2025, and throughout the Republic of Ireland beginning February 1, 2025.
EXEC: Sportsman’s Warehouse Beats Q3 Estimates; Raises Full Year Guidance
The retailer is one of the few beating estimates on the top- and bottom-line in Q3, surpassing revenue estimates by nearly $24 million and beating EPS estimates by 6 cents a share in the period. The results sent SPWH shares up in after-hours trading.
