SGB Executive Q&A: Garmont North America CEO Bill Dodge
When Bill Dodge was named CEO of Garmont North America in 2014, he took the reins of a footwear company that was emerging from bankruptcy, adjusting to new private ownership, repositioning after shedding its ski boot division and searching for a U.S. headquarters locale. He spoke with SGB recently about the brand’s revival.
Nike Looks To Take Off On Jet.com
Showing a reduced queasiness around selling across online platforms, Nike Inc. formed a strategic relationship to sell the Nike brand as well as Converse directly on Walmart’s Jet.com website. The move follows Nike’s surprise move last year to start selling product directly on Amazon.com.
The Path to $5 Billion: Vans Unveils Roadmap For Lofty Goal
The numbers that the Vans leadership presented at Wednesday morning’s investor meeting in Costa Mesa, CA, were staggering relative to the company’s current financial snapshot of $3 billion in annual revenue for fiscal 2018. The footwear and apparel brand expects to generate compounded annual growth rate (CAGR) of 10 percent to 12 percent each year over the next five years to reach $5 billion in annual revenue by 2023. Here’s how the company plans to do it.
What Would Anta’s Merger Mean For Amer Sports?
“What’s Anta Sports?” was among the questions heard from more than a few market observers after news arrived Tuesday that the Chinese sports powerhouse had made an all-cash offer to acquire Amer Sports. But Anta has spelled out the company’s ambitions to become a global superpower in sporting goods and is ideally-positioned to attack major growth opportunities in the company’s home market.
Peak Resorts Expecting Nice Return On Ski Area Investments
Continued progress with the ongoing construction of a new lodge at Mount Snow in Vermont and terrain expansion at Hunter Mountain in New York will soon pay off for ski resort operator Peak Resorts Inc., which on Tuesday reported Q1 revenue and earnings missed Wall Street targets.
Nike And Foot Locker Upgraded On Nike’s Innovation Pipeline
Nike was upgraded to “Buy” from Canaccord Genuity while Foot Locker was upgraded to “Outperform” by Wells Fargo. Both upgrades were tied to successful recent launches and bright prospects for future ones from Nike. Canaccord Genuity analyst Camilo Lyon also called Nike’s controversial Colin Kaepernick “Just Do It” anniversary campaign a “stroke of genius.”
One Week In: Nike’s Kaepernick Saga
It’s been a week since Nike caused an nationwide uproar over the company’s decision to make Colin Kaepernick the face of the thirtieth anniversary of the company’s “Just Do It” campaign. Boycott threats, shoe burnings, and at least two colleges vowing to stop wearing and one store vowing to stop selling Nike product have arrived so far. But praise, loads of media exposure and indications of a sales bump also came.
August M&A Roundup: Implus Nets Sporting Goods Asset
The last full month of summer was again quiet on the M&A front, with only a handful of notable deals in the sporting goods, outdoor and active lifestyle industries. But August did get off to a strong start when Implus announced the company would acquire Pro Performance Sports LLC, dba SKLZ, a provider of multisport athletic performance and skill development training products.
Retail Reports Roundup
Studies arrived showing Nike and Lululemon ranking high among favorite retailers for millennial and Gen Z consumers; Outdoor Voices landing among LinkedIn’s top startups and research on visual search, online personalization, Walmart’s online share gains and voice assistant shopping.
Moosejaw’s CEO Addresses Walmart Concerns In Open Letter
On Linkedin, Eoin Comerford, Moosejaw’s CEO, wrote an open letter to the outdoor industry asserting that the development of the Premium Outdoor Store on Walmart was done in the spirit of “inclusivity” and he’s “surprised by the vehemence of the attacks by some of our industry’s leading retailers and the threats to drop brands that participated.”
Journeys Powers Genesco Ahead In Q2
Driven by huge gains in revenues and profitability at Journeys, Genesco Inc. reported the company’s first positive store comp in eight quarters while posting a surprise profit in the second quarter. Said Bob Dennis, Genesco’s CEO, “Despite lapping positive comparisons when Journeys successfully emerged from the fashion shift a year ago.”
Aisle Talk Week Of September 3
Top headlines from the active lifestyle industry you may have missed this week, including the tragic death of Jason Hairston, the founder of the KUIU hunting apparel brand.
Zumiez Q2 Gets Boost From Vans
Zumiez delivered the company’s “strongest second quarter in several years,” according to Rick Brooks, CEO, with a big boost from Vans.
G-III Apparel Q2 Boosted By Donna Karen And Tommy Hilfiger
Driven by sales more than doubling for Donna Karan/DKNY and 60 percent growth for Tommy Hilfiger, G-III Apparel Group Ltd. reported second-quarter results that came out well ahead of guidance.
Duluth Trading’s Revenues Accelerate In Q2
Helped by a pickup in sales in the company’s direct business, Duluth Holdings Inc., the parent of Duluth Trading Company, reported sales grew 28.3 percent in the second quarter, accelerating from the 19.7 percent gain seen in the first quarter. Both earnings and sales topped Wall Street guidance although the apparel company maintained guidance for the year.
