SGB Executive Outdoor
EXEC: U.K. Retailers Facing Rising Retail Crime Demand Government Action
The 2023 BRC Crime Survey showed incidents of violence and abuse towards retail workers had almost doubled from pre-pandemic levels to 867 incidents every day in 2021/22. Top executives at JD Sports were signatories to the demand letter.
EXEC: JLL Holiday Survey Sees Experiences Weighing on Traditional Gift Spend
In the JLL 2023 Holiday Shopping Survey Report consumers are poised to increase spending on entertainment and experiences during the holiday season but at the expense of the amount they would have spent on gift giving. The survey found spending on physical goods to decline 13.8 percent.
Movement Skis Cuts OpEx After Tough Start to Year
Weak sales prompted the company to take a hard look at its operating expenses, with personnel costs cut by 16 percent, advertising costs by 10 percent, R&D costs by 25 percent, and G&A expenses by 19 percent.
EXEC: ASOS plc Warns on Fiscal Year Cashflow Issue Due to Timing Effects
The retailer typically receives cash from their sales gross of returns and sales tax immediately. However, the cash outflow from sales tax, returns and variable costs associated with those sales predominantly impacts the following two months. The impact will reverse during September and October.
Studies Show Active Lifestyle Brands Resonate with Gen Alpha
In a recent survey conducted by Beano Brain, Nike ranked #4 in the Top 100 “Coolest Brands” among Gen Alpha in the U.K. and #17 in the U.S. Other vendors making the list in the active lifestyle space included Adidas, Puma, Crocs, Jordan, Under Armour, Champion, and The North Face.
EXEC: Dick’s SG Joins Other Retailers with Lower Seasonal Workers Plans for Holiday
Dick’s Sporting Goods followed Macy’s in reducing its planned holiday hiring plans this year versus 2022. The downbeat hiring targets come amid forecasts of lowered seasonal hiring overall this year due to higher labor costs and expectations of softer holiday selling.
EXEC: Superfeet’s New CEO Discusses the Untapped Insoles Opportunity
In June, Trip Randall, a former long-time Nike executive, became the third CEO in Superfeet‘s 46-year history. He talked with SGB Executive about the outsized growth potential still ahead for Superfeet as well as for the overall insoles category.
EXEC: UBS Sees Weaker Softgoods Spending Ahead Tied to Student Loan Repayments
UBS, the global financial services firm, reported it expects the consumer spending environment for softgoods in the U.S. to partly deteriorate over the coming months due to the resumption of student loan repayments in October. Inflation concerns and higher interest rates are among other factors expected to impact consumer spending.
Dick’s to Close Nearly All Moosejaw Stores
Moosejaw, the outdoor specialty retailer acquired by Dick’s Sporting Goods in March, is closing 11 of 14 stores in a realignment of Dick’s outdoor specialty business, including the company’s Public Lands’ store concept. Moosejaw’s headquartered in Madison Heights, MI, is also closing.
EXEC: Academy Sports CEO Talks Expansion Strategy Focused on Profitability
Speaking at Wells Fargo’s Sixth Annual Consumer Conference, Academy Sports and Outdoors officials discussed the retail chain’s competitive advantages and how it reworked its expansion strategy while rolling out an aggressive strategy.
EXEC: Nike Retains Top Spot as Most Valuable Global Apparel Brand
Nike ranked as the world’s most valuable apparel brand for the ninth consecutive year, according to Brand Finance’s 2023 Annual Apparel 50 Report. Other brands in the active lifestyle space that made the Top 50 included Adidas, at #5; Lululemon, #16; Puma, #19; Anta, #26; Under Armour, #27; The North Face, #28; Moncler, #29; Skechers, #32; Fila, #34; Li Ning, #42; and New Balance, #50.
EXEC: KMD Sees Rip Curl Post Solid FY Growth while Oboz Sales Jump 62 Percent
The parent company to the Rip Curl, Oboz and Kathmandu brands reported it had achieved record sales of over NZ$1.1 billion dollars in the fiscal year ended July 31, its first year of uninterrupted trade post-pandemic.
EXEC: Chairman of BDE’s Parent Makes Bid To Acquire Its Ammo Business
Clarus Corp.’s executive chairman, the largest shareholder, Warren Kanders, submitted a non-binding bid to acquire the company’s Precision Sports segment, which includes Sierra Bullets and Barnes Bullets brands, for $160 million.
EXEC: Inside Birkenstock’s Growth Plans
In its IPO prospectus, Birkenstock said it sees “ample whitespace to continue growing the Birkenstock brand” by raising brand awareness, production capacity expansion, core and new product portfolio innovation, and a continued DTC shift.
EXEC: Birkenstock Files for IPO
Birkenstock Holding filed for an initial public offering with the U.S. Securities and Exchange Commission. The filing shows revenues increasing to €1.24 billion ($1.33 bn) in FY22 from €727.9 million in fiscal 2020, a 31 percent two-year CAGR (compound annual growth rate).
