SGB Executive Outdoor
EXEC: BRC Sees Weaker UK Retail Growth in September as Non-Food Sales Decline
The British Retail Consortium reported that total UK retail sales were 2.7 percent in September, against a growth of 2.2 percent in September 2022, supported by a 9.5 percent inflation rate.
EXEC: JD Sports Completes Shares Purchase of Iberian Sports Retail Group
Effective October 10, JD acquired 49.98 percent of shares of ISRG from Balaiko Firaja Invest, S.L. and Sonae Holdings, S.A. for cash consideration of €500.1 million ($531.2 million) and now owns 100 percent of ISRG shares.
Report: UK Holiday Spending Increase Will Fall Short of Inflation Growth
The 3.4 percent growth for the holiday selling period, driven by 9.3 percent inflation for the year, still falls short of last year’s increase and marks a second quarter of slowing growth in 2023.
EXEC: Report Sees Crocs, Hoka, New Balance, and On Increasing Teen Appeal
Crocs, Hoka, New Balance, and On were among the brands in the active lifestyle space that increased their appeal with teens in Piper Sandler’s 46th Semi-Annual Taking Stock With Teens Survey. Nike dominated teen mindshare in footwear and apparel but lost brand appeal in the performance category, while Adidas, Converse, Under Armour, and Vans ost ground with teens. Lululemon had a mixed performance.
Rupert Campbell Leaving Adidas North America
The president of Adidas North America will step down to pursue other opportunities, effective October 27. Executive board member Arthur Hoeld, who leads global sales, will oversee the region until a successor is found.
EXEC: An Inside Look at On as Company Builds a “True Sportswear Brand”
On is also looking to expand its share with core runners as part of a long-term goal to become the world’s leading running shoe but recent findings show the brand being worn by just 15 percent of runners on major running routes in Miami and only 7 percent in New York City.
EXEC: Hydro Flask and Osprey on Divergent Paths in Fiscal Q2
Osprey reportedly surpassed expectations for the third straight quarter with help from improving travel demand, but Hydro Flask continued to be pressured by a shift in consumer preference from insulated bottles to tumblers.
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.
