VF Corp. Execs Talk Denver Relocation, Vans Growth & Other Timely Topics
VF Corp. CEO Steve Rendle and CFO Scott Roe spoke with SGB last week about five hot topics—the forthcoming move to Denver, VF’s commitment to becoming a purpose-led company, Vans’ five-year journey to $5 billion, growth drivers at The North Face and upside at two smaller brands—Icebreaker and Smartwool. Here’s what they shared.
Retail Reports Roundup
Retail studies arrived on the online benefit to having physical stores, holiday spending forecasts on tech gadgets and seasonal celebrations, the challenges facing online holiday delivery, the positive payback from creating emotional connections and responding to online reviews.
Columbia Sportswear Notches Strongest Earnings In Company History
Citing the benefits of the company’s “brand-led, consumer-focused” Project CONNECT initiative, Columbia Sportswear reported earnings topped Wall Street targets for the seventh straight quarter, lifted its guidance for the year and provided an upbeat outlook for 2019.
Deckers Crushes Quarterly EPS Targets On Meatier Margins
Deckers Brands reported earnings in the company’s second quarter ended September 30 that arrived far ahead of company guidance due to improving gross margins and lower than planned SG&A expenses. Among brands, Hoka One One delivered another quarter of robust sell-throughs while Ugg’s primed for strong holiday selling.
Aisle Talk Week of October 22
Top headlines from the active lifestyle industry you may have missed this week, including Yeti’s lukewarm initial public offering debut.
Puma Sees Strong Start In Return To Basketball
Puma raised the company’s outlook for full-year sales and operating profit as the company reported strong sales growth in the third quarter in the Americas and Asia. Puma’s first basketball shoe in 20 years has been well-received, but Puma officials indicated there’s more work to do. On a conference call with journalists, Bjørn Gulden, CEO, said, ”The father will remember that Puma was in basketball. The son doesn’t.”
Outdoor Drives Amer Sports In Q3 As Company Stays Quiet On Anta Bid
Amer Sports made it clear Thursday that the company wouldn’t discuss Anta Sports’ acquisition bid, leaving the company to focus solely on Amer’s solid third-quarter performance, especially in the company’s outdoor segment. Amer Sports reported earnings in the third quarter ended September 30 increased 47 percent while sales grew 8.5 percent.
Callaway Golf Q3 Gains Lift From U.S. Momentum
With revenues in the U.S. running ahead 14.7 percent with the help of a good reception to the Rogue driver, Callaway Golf reported third-quarter earnings and sales exceeded guidance for the seventh straight quarter.
Shimano’s Q3 Profits Sink On Cycling Weakness
Shimano Group reported operating income fell 15.4 percent in the third quarter ended September 30 due to lower revenues and earnings in the company’s cycling division. In North America, sales of Bicycle Components in the nine months at retail were “on par with an average year and distributor inventories remained at an appropriate level.”
Rocky Brands Rides Wholesale & Retail Growth To Strong Q3
Rocky Brands Inc. topped Wall Street’s earnings and revenue estimates in the third quarter, as the Nelsonville, OH-based company again rode a healthy balance across the company’s portfolio brands and sales channels to more than double net income from the same quarter a year ago.
Behind The Deal: Hayes Fills Portfolio Gap With Reynolds Acquisition
SGB goes behind the scenes of Hayes Performance Systems’ acquisition of carbon wheel maker Reynolds Cycling LLC, a deal that closed on Tuesday and was announced on Wednesday. Darren Campbell of Hayes Bicycle Group and Scott Montgomery of Reynolds explain why uniting their companies made perfect business sense.
SGB Executive Q&A: PrimaLoft President & CEO Mike Joyce
PrimaLoft President and CEO Mike Joyce spoke with SGB about the company’s new synthetic insulation that is made from 100-percent recycled, biodegradable fibers. “We think this is a game changer,” he said, adding that “the technology will be a major revenue driver for us.” Our Q&A explains why.
One-On-One With Schoeller CEO Siegfried Winkelbeiner
SGB recently spoke with Siegfried Winkelbeiner, CEO of Switzerland-based Schoeller Textil AG, about the company’s 150th anniversary, its role as a leader in sustainability, its focus on the future and what’s next for the textile industry.
Vans, Adidas And Lululemon Finding Teen Love
Vans became the fastest-growing brand in Piper Jaffray’s semi-annual Taking Stock With Teens survey while overtaking Nike as the No. 1 footwear brand among upper-income females. But Nike/Jordan improved mindshare as “top trend” and positive momentum with teens was also seen for Adidas, Lululemon, Champion, Crocs and several other brands in the active lifestyle space.
Vans Begins Journey To $5B In Style By Driving VF Corp.’s Strong Q2
The path that Vans will travel en route to $5 billion in annual revenue by 2023 is sure to be strewn with economic headwinds and market deviations along the way, but the action lifestyle brand is kicking off its quest toward that ambitious destination in style. Vans revenue grew 26 percent in the second quarter ended September 29, boosting parent company VF Corp.’s revenue 15 percent to $3.9 billion for the period.
