SGB Executive

According to the quarterly call of its parent, Helen of Troy, Hydro Flask saw “broad-based strength” in its second quarter, ended August 31, in domestic brick and mortar sales, driven by retailers increasing orders to replenish a more robust back-to-school season and healthy holiday ordering.

Bank of America downgraded Adidas to “Underperform” from “Neutral” due to uncertainty around China’s recovery and supply-chain issues, coupled with ongoing market share losses.

Piper Sandler’s 42nd Semi-Annual Gen-Z Fall Survey found athletic apparel and footwear continue to retain strong appeal among teens. Within apparel, Nike and Lululemon reached new highs in preference. Within footwear, while Nike reigned supreme, Converse and Crocs gained share whereas Vans declined.

In a new report, Bank Of America identified five “megatrends” expected to drive sports apparel and footwear categories in the years ahead: Health & Wellness, Female Sports Participation, Hybrid Working Models, Affordable Luxury, and Sustainability.

On a call with analysts, Smith & Wesson Brands Inc. CEO Mark Smith said that the firearms giant had no recourse but to leave the state of Massachusetts after 150 years to relocate in Tennessee due to proposed legislation that will hurt business.

Bank of America slashed its rating on Kohl’s to “Underperform” from “Buy” due to supply chain constraints while reinstating its rating on Foot Locker at “Under Perform,” also citing supply-chain issues as well as waning stimulus dollars.

A new study from BMO Capital Markets found that although many brands are aggressively shifting towards direct-to-consumer, underlying profitability may be better selling through wholesale channels.

At a virtual fireside chat at Morgan Stanley Global Sporting Goods Day, John Vandemore, CFO, Skechers USA, said the footwear giant has limited exposure to Vietnam compared to the brand’s competitors but still faces many unknowns due to the overall supply chain disruption.

Northwest River Supplies (NRS), one of the largest manufacturers and distributors in the paddlesports category, has inked a deal with Gore-Tex to bring its waterproof/breathable fabric into a high-end drywear line.

With Aspen, CO’-based Ute Mountaineer’s recent agreement to purchase long-running Boulder, CO-based retailer Neptune Mountaineering, it brings together two independently owned marquee Colorado retailers under one umbrella. SGB Executive caught up with both owner and seller to hear their thoughts about the acquisition.

At the Financial Times’ Future of Retail digital seminar, Sweaty Betty’s CEO Julia Straus discussed the many ways she expects Wolverine Worldwide’s acquisition of the U.K-based women’s activewear brand to pay off.

Shares of Nike Inc. fell 6.2 percent on Friday after the athletic giant slashed its growth outlook for the current year due to COVID-19-driven port congestion and factory shutdowns in Vietnam. A few analysts remained cautious on Nike’s stock given the uncertainty around the supply chain and China growth but Wall Street remains bullish on the brand’s long-term growth prospects.

Nike Inc. said demand for the Nike Brand remains robust, but the combination of port congestion and COVID-19-driven factory shutdowns in Vietnam will cause sales for its current fiscal year to come in well below targets. Inventory shortages are also expected to continue until the second half of the calendar year 2022.

Many of today’s paddlecrafts are made from plastic and/or resins that aren’t exactly good for the planet. But more companies in the category are embracing Mother Earth and are weaving sustainability initiatives into their products, from using eco-friendly materials to better manufacturing and shipping practices.

A survey from Citi Research taken in September found that Nike and Adidas are back in favor with Chinese consumers following an uproar in March with several Western companies over their stance on China’s Xinjiang region.