Shopko Becomes Latest Casualty Of Online Disruption
Shopko, already weighed down by a heavy debt load due to a leveraged buyout, said competition against the national big box chains and consolidation in the pharmacy industry both played a role in its trip to bankruptcy court. But in an affidavit in Nebraska’s bankruptcy court, Russell Steinhorst, CEO, blamed the retailer’s eroding operating performance largely on the dramatic shifts across retailer in recent years to online selling.
ICR Recap: Which Brands Won Over Investors?
The ICR Conference in Orlando, FL, gave brands across the consumer and retail industries a chance to present their current financial profile and plans for 2019 and beyond. Some companies, like Lululemon (whose presentation wasn’t public), have seen values surge post-conference.
Activism Paying Off For Patagonia
At a session the NRF Big Show in New York City, Patagonia’s CEO Rose Marcario said the last decade “has been the best decade for us in terms of our business” even as the company has doubled-down on its commitment to sustainability and taken on risks by becoming more politically active around environmental issues. But she regarded Patagonia’s moves to take on hot-button issues as only “a proportional response to what’s going on.”
Crocs Pivots To Growth Mode After Successful Repositioning
The transformation that Crocs Inc. began a few years ago has included everything from shuttering stores to adjusting its channel strategy to closing its company-owned manufacturing facilities. Those efforts to slash costs have paid off for the Niwot, CO-based footwear maker. After shedding $80 million in SG&A expenses in that timeframe, the company can now focus on the next leg of its journey—growth.
Fanatics Seeking To Expand On Online Marketplaces
At a session at the NRF Big Show in New York City, Michael Rubin, founder and executive chairman of Fanatics, said the company will generate a whopping $2.7 billion to $2.8 billion in revenue in 2019, and also indicated that the company’s next major revenue model will be selling on online marketplaces.
Yeti Executives Unpack Ambitious Growth Strategies
The ambitious financial goals that Yeti Holdings Inc.’s top executives laid out at the ICR Conference in Orlando, FL, center on four growth strategies plus a key supply chain move that will have the company no longer manufacturing in China by the end of the year. President and CEO Matt Reintjes and CFO Paul Carbone on Monday outlined the company’s plans for 2019 in a fireside chat hosted by Baird analyst Peter Benedict.
Dick’s Ed Stack Discusses Purposeful Leadership At NRF Big Show
At a session, “Company Conscience: Leading With Conviction,” at the NRF Big Show in New York City, Ed Stack, chairman and CEO at Dick’s Sporting Goods, discussed the retailer’s efforts to ensure a work/life balance for its employees and the retailer’s commitment to community that’s reflected both in its Sports Matter funding program and controversial decision to change its gun policy.
Fewer Destination Guests, Other Headwinds Taking Toll On Vail Resorts
Good snowfall to start the 2018/19 ski season was a boon for many resorts across the U.S., with plentiful powder and the opening of terrain and lifts often not accessible until January stoking hopes of an epic performance for the industry. All of which made last week’s news from Broomfield, CO-based Vail Resorts Inc. that much more surprising.
Companies Update Guidance In Advance Of ICR Conference
Late Friday afternoon and early Monday morning saw a host of preliminary sales and updated guidance releases from companies presenting at the ICR Conference, being held in Orlando, FL. Here’s a roundup of what retail and consumer brands announced over the last couple of days.
CES Show: Data Tracking To Transform Sports
The buzz over wearables in the active space has cooled down with the challenges facing Fitbit, GoPro and others in recent years, but the potential for artificial intelligence (AI) and motion-sensing technology to create a new breed of data-informed athletes was again heard loudly at this week’s CES show in Las Vegas.
SGB Industry Outlook 2019, Part 3
Here is our final installment of the 2019 industry outlook. Thank you to all the industry executives and business owners who shared expectations, hopes and concerns for the new year. This was the biggest response we’ve ever gotten, with almost 60 participants, prompting three parts instead of the usual one or two.
Aisle Talk Week Of January 7
Top headlines from the active lifestyle industry you may have missed this week, including Portland, OR-based outdoor apparel firm Poler filing a Chapter 7 bankruptcy to liquidate.
SGB Industry Outlook 2019, Part 2
This is the second installment of our annual series that gauges what the industry’s key players are projecting for the coming year. Also, due to overwhelming response, we’ve extended our industry outlook to three parts due to so many of people wanting to contribute their thoughts on 2019. Look for even more commentary on 2019 in Friday’s edition of SGB Executive.
SGB Industry Outlook 2019, Part 1
Over the past week, dozens of executives across the active lifestyle industry shared their outlook for 2019 with SGB. We reached out to large, medium and small brands and retailers in sporting goods, footwear, apparel, outdoors and tactical with two simple questions that were fairly open-ended: What gives you optimism and what causes concern in the coming year? This is the first of a two-part series that gauges what the industry’s key players think will or won’t happen in 2019.
Tariffs Hit Helen Of Troy’s Outlook But Company Still Bullish On China
Declining e-commerce business in China prompted Hydro Flask parent company Helen of Troy Ltd. to reduce its full-year sales outlook. The softness, a result of the ongoing trade war with China, might have dampened an otherwise strong third quarter performance, but it didn’t diminish the company’s long-term view of China as a key marketplace.
