A survey conducted by Aggregate Sports found Nike to be the top brand respondents felt supported women’s sports the most, followed by Gatorade and Coca-Cola.
In 2015, Duer created a range of “stretch performance denim” manufactured from plants and various recycled materials, putting a new spin on jeanswear. Founder Gary Lenett talked with SGB Executive about the Vancouver-based brand’s inspiration, emerging opportunities outside denim, distribution model, and commitment to sustainability.
Athleta’s sales declined 18 percent in the third quarter against “heavy discounting” a year ago and are expected to decline double-digits in the fourth quarter as the retailer’s recovery from recent fashion miscues has taken longer than expected.
Shoe Carnival reported it gained market share in the family footwear channel due to a robust back-to-school season with particular strength in kids on strength in athletic; however, annual guidance was lowered for the third straight quarter as hot and dry weather in September and October caused a decline in the twenties in the boot category.
In a recent analysis from Baird, the investment firm and financial services company forecasted that tech advances, improved player performance and safety features, elevated traditional and social media exposure, and other economic factors will accelerate the future of team sports participation, benefiting from both the sporting goods industry and its investors.
Bain & Company’s Luxury Study forecasted the global personal luxury goods market will grow 4 percent on a currency-neutral basis to €362 billion ($393 bn) in 2023, below a forecast between 5 percent to 12 percent the consultancy published in June.
Korea-based Fila Holdings Corp. reported sales fell 8.3 percent in the third quarter as a 35.1 percent decline at the Fila brand segment offset a gain of 3.3 percent at Acushnet (Titleist, Footjoy). Fila brand’s sales tumbled in the U.S. due to the impact of elevated inventories.
Swiss running brand On delivered its seventh consecutive record quarter in revenues and achieved its highest gross margin since its August-2022 IPO. However, shares closed down slightly on Tuesday due to concerns over elevated inventory levels and its ability to deliver growth to match On’s stock’s high multiple.
Samsonite International S.A. reported sales from its Gregory backpack brand grew 23 percent in the third quarter while an overall recovery in travel led to similar gains for the overall company.
The Taiwanese bike brand said that although they saw strong growth from the China domestic market, the weak demand from the U.S. and Europe markets for entry to mid-level products and the high inventories in the channel resulted in a 12.4 percent decline in YTD sales.
For the third quarter, the Sports business was up 3 percent to ¥29.1 billion, after growing 19 percent in Q1 and 3 percent in Q2. Segment business profit was up 20 percent in the third quarter, to ¥2.5 billion.
According to the Aspen Institute’s recently released State of Play 2023 report, kids are trying sports about as much as they did before COVID-19, but they’re not playing as frequently.