EXEC: VF Corp. Sets Medium-Term Targets at Investor Day
At VF’s Investor Day, “Reinvent to Grow,” company President Bracken Darrell highlighted six areas that the company is focused on at the enterprise level to build a competitive advantage and revive profitability and growth.
EXEC: Moncler S.p.A. Sees Consumer Confidence, Weaker Q3 Weigh on YTD Results
In the third quarter, Group revenues were €635.5 million, down 3 percent constant-currency compared to the same period of 2023, cutting into the year-to-date trend increase of 6 percent at constant exchange rates.
EXEC: Big 5 Sees Improving Sales Trends Leading into Holiday Season
The retailer saw the Apparel and Footwear categories each down ~9 percent and Hardgoods was down ~6 percent in Q3 but a number of product categories are contributing to the improvements in sales trending, including the early rates in fall and winter apparel.
Brooks Running Reaches $1 Billion Milestone in Nine-Month YTD Period
The gains in the third quarter were said to be boosted by a 10 percent year-over-year increase in North America, led by 16 percent e-commerce growth. Revenues grew 10 percent in the EMEA region, reportedly fueled by 24 percent e-commerce sales growth.
EXEC: Adidas Settles with Kanye, But Yeezy Hangover Still a Drag on Strong Third Quarter
With this settlement, Adidas unwound a €100 million provision related to outstanding legal issues over the Yeezy break-up and now plans to also donate that sum to charities. Including the €100 million, total funds earmarked for charity related to the Yeezy inventory sell-off now stand at about €250 million.
EXEC: Shimano Returns to Growth in Third Quarter on Cycling Uptick
Shimano, Inc. reported its first sales increase in several quarters as a recovery at its bicycle components offset a slight decline in its fishing tackle business.
EXEC: Leatt Corporation Ekes Out a Positive Revenue Quarter in Q3 as DTC Sales Jump
The company was said to be “very encouraged” by the results of the 2024 third quarter, calling it a “pivotal quarter” as global revenues returned to growth, “albeit still marginal at this stage.”
EXEC: VF Corp. CEO Sees Recovery Gaining Traction at TNF and Vans Parent
On VF’s quarterly analyst call, Bracken Darrell, CEO and president, said the second quarter delivered “another quarter of really good progress,” marking the third straight quarter of sequential top-line improvement in the decline rate and witnessing moderating sales declines at its two most challenged areas: Vans and the Americas region.
EXEC: Crocs Inc. Shares Dive Over HeyDude Brand Struggles, Crocs Brand Softens
Crocs shares fell $26.50, or 19.2 percent, to $111.58 per share Tuesday after the footwear company reported third-quarter results topped analyst estimates but tempered its full-year sales guidance as the turnaround at HeyDude falls behind schedule.
EXEC: AlixPartners Survey is Latest to Find Nike Losing Mind Share in Sneakers
An accompanying survey conducted by the financial advisory and global consulting firm is the latest to indicate that the brand has lost market share to competitors, including Adidas, New Balance, Hoka, and On.
EXEC: Yue Yuen Forecasts Strong YTD Profit Growth as Footwear Market Normalizes
The Hong Kong-based firm said the gains were “mainly attributable to the solid increase in the gross profit margin of the group’s manufacturing business alongside a substantial rise in brand customers’ demand for its footwear products.
EXEC: EEOC Sues Amer Sports for Retaliation Against Employee
According to the EEOC’s lawsuit, an employee complained multiple times to human resources and management about age discrimination during an organizational restructuring.
EXEC: Fenix Outdoor Hopes for Better Times Ahead as Q3 Continues Downward Trend
The executive chairman of the Board for the parent of the Fjällräven, Royal Robbins, Hanwag, and Fenix Outdoor brands said the quiet part out loud in his letter to investors regarding the quarter when he said there was not much positive to say from a sales perspective.
EXEC: Newell Brands Expects Slow Turnaround for Challenged Outdoor & Rec Segment
The parent company of Marmot, Ex Officio, Stearns, Bubba, Coleman, and Contigo reported that revenue in its Outdoor & Recreation segment actually fell 20.8 percent in the quarter.
EXEC: Hoka Drives Deckers Brands’ Fiscal Q2 Growth; Prompts Guidance Bump
DECK now expects Hoka to increase approximately 24 percent year over year, reflecting the continued strength of global demand. Ugg is still expected to grow mid-single digits, and diluted earnings per share expectations range from $5.15 to $5.25 for the year.
