SGB Executive Outdoor
EXEC: VF Corp. Shuttering East Coast DC, Moving Dickies to Vans HQ; 360 Jobs Impacted
The two moves, seen as part of the company Reinvent plan, are expected to impact 242 employees at the Virginia distribution center and another 120 Dickies staff with the move to California.
EXEC: JD Sports Expects Full Year Profit at Lower End of Forecast on Weaker Comps
After a good start to the period, helped by strong back-to-school sales, the parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail banners said it saw increased trading volatility in October, particularly in North America and the UK, reflecting elevated promotional activity and mild weather.
EXEC: Target Corporation Shares Hit New Low After Q3 Miss, Disappointing Guidance
For the fourth quarter, the company now expects approximately flat comparable sales and GAAP and Adjusted EPS of $1.85 to $2.45, translating to a full year expected GAAP and Adjusted EPS range of $8.30 to $8.90 per share.
EXEC: Salomon Gets New CEO as Growth Moderates in Q3 on Weaker Equipment Business
By region, strong growth in Greater China and APAC was said to be partially offset by slower sales in EMEA and North America. The company expects to end 2024 with approximately 200 Salomon stores in China, with the opportunity to grow to several hundred locations over time in just Tier 1 and 2 cities.
EXEC: Arc’teryx Outperforms Once Again in Q3 Despite Tough 2023 Comps
Direct-to-consumer remains the brand’s core growth engine, but Arc’teryx also reported strength in the Wholesale channel, which grew 26 percent. U.S. Wholesale was reportedly a standout for the quarter, especially for Arc’teryx.
EXEC: Amer Sports Sees Sharp Contrast Between West and East in Q3; Provides China Update
Amer Sports, which is majority owned by its China retail partner, highlighted on its conference call with analysts that while other consumer companies faced challenges in Greater China in Q3, Amer generated 56 percent growth in the region, continuing to “well outperform the market.”
EXEC: Scottish Retail Industry Urges Consumers to be Considerate this Christmas Season
Scotland’s retail trade association and its trade union for retailers have joined together this holiday season to encourage more “considerate” Christmas shopping in 2024.
EXEC: Rip Curl and Oboz Parent Reports Strong DTC Sales in Fiscal Q1; Looking Cautiously to Holiday
The company said that, since its last trading update near the end of September, direct-to-consumer (DTC) sales results have improved for both Rip Curl and Kathmandu for the fiscal first quarter ended October 31.
EXEC: Safilo Saw Smith’s Q3 Performance Hurt by Still Cautious U.S. Market Environment
The quarterly performance showed lingering soft trends in North America and Asia, while trends proved more resilient in Europe, despite the slowdown of the sunglasses business. Smith’s performance remained affected by a still cautious market environment.
EXEC: Thule Group Set to Acquire Aussie Phone Mount Company
Australia-based Quad Lock is expected to help to strengthen Thule Group’s position in the Asia-Pacific region, where the acquisition increases the share of Thule’s sales from ~5 percent to 10 percent. Direct-to-consumer sales will increase from ~7 percent to 15 percent of sales.
EXEC: Giant Group Continues Downward Spiral in October; Fails to Offset Sharp 2023 Decline
The Taiwan-based bike manufacturer reported a 6.5 percent year-over-year decrease in sales for the month to NT$4.87 billion. The decline comes despite an easy comp opportunity against a 34.4 percent decline in October last year.
EXEC: Major Asia Footwear Manufacturer Continues to Cut Mainland China Production
The U.S. continues to be the No. 1 destination for deliveries for Yue Yuen, but the region is also losing share to product shipped to Mainland China and Europe. Indonesia is the largest country of origin this year, representing 53 percent of total production.
Vuori Nets $5.5B Valuation, $825M Investment in Latest Financing Round
The $825 million investment, led by General Atlantic and Stripes, along with a cohort of additional investors, is structured as a secondary tender offer, and raises the activewear’s brand’s valuation to $5.5 billion.
EXEC: Descente Ltd. Posts Another Record Second Quarter in Sales and Profits
Descente Ltd. reported that net sales for the fiscal second quarter ended September 30 increased 4.7 percent to ¥62,818 million, reportedly due to foreign exchange effects and growth of the Descente and Uumbro brands in Japan and South Korea.
EXEC: Alpargatas Saw Havaianas Taking Market Share, Posting Growth in Q3
The management team at Alpargatas, the Brazil-based parent of the Havaianas and Rothy’s brands, offered their take on the 2024 third quarter with a particular focus on the company’s strategic review and transformation process that has already started to bear fruit for the Havaianas flip-flop brand.
