EXEC: January Footwear Manufacturing Revenues Jump at Feng Tay
Analysts have noted in reports that the market should not get too excited with the revenue decline in January 2023 or the increase in 2024 in China, Taiwan or Vietnam due to the shifting dates for Chinese New Year.
EXEC: Giant Group Reports Moderating Sales Decline in January
The January decline at the bike manufacturer represents the third straight month of moderating declines and the smallest decline since June 2023
EXEC: Rip Curl, Oboz Down Sharply in Fiscal H1 Against Tough Comps
KMD Brands Limited, the parent company of Kathmandu, Oboz and Rip Curl, reported a preliminary update of its results for the 2024 fiscal first half ended January 31.
EXEC: Nike Inc. Set to Cut Approximately 1,600 Jobs in Restructuring Effort
As part of its broad restructuring program first announced in December, Nike is set to cut about 2 percent of its total workforce to lower expenses as demand for the brand comes under pressure.
EXEC: Sebago, Superga, Briko Parent Sees Sharp Global Declines Cut Into Royalties
BasicNet S.p.A., the parent of the Sebago, Superga, Briko, Kappa, K-Way, Jesus Jeans, and Sabelt brands, reported aggregate sales of Group brands products declined 10.4 percent to €1.14 billion. The Americas region fell 35 percent.
EXEC: Fenix Outdoor Swings to Q4 Loss as Sales Shrink, Costs Increase
The company’s Brands segment, which includes Fjällräven, Royal Robbins, Hanwag, and Fenix Outdoor, had sales of €47.3 million in the fourth quarter, falling 14.8 percent from €55.4 million in the prior-year fourth quarter.
EXEC: Inside Yeti’s Thought Process on the Mystery Ranch Deal
Regarding the acquisitions of Mystery Ranch and Butter Pat Industries, management said both transactions were completed in Q1 of this year, utilizing cash on hand for a combined consideration of $48.5 million.
EXEC: Yeti Hires Layne Rigney to Oversee Softgoods and Mystery Ranch
Yeti hired Layne Rigney as head of softgoods, which includes oversight of the Mystery Ranch business the company recently acquired.
EXEC: Footwear Brands Are Ramping Up Factory Orders
Yue Yuen Industrial reported that its footwear manufacturing segment revenue posted 12.5 percent growth in January 2024, a big turnaround from the 18.4 percent decline in its footwear manufacturing segment for full year 2023.
EXEC: Champion’s Q4 Sales Fall 30 Percent in U.S.; Restructuring Hits Profits
Global Champion brand sales decreased 23 percent year-over-year on a reported basis, and 24 percent on a constant-currency basis in the fourth quarter.
EXEC: Sportchek, Mark’s and Helly Hansen all Down in Q4; Only Helly Up for Year
Canadian Tire’s SportChek segment, which includes the SportChek, Sports Experts, Atmosphere, Pro Hockey Life, Sports Rousseau, and Hockey Experts retail brands, saw comparable sales in the fourth quarter decline 6.4 percent.
EXEC: Brands Act Fast on PFAS Changes as EPA Proposes New National Rules
California-based Liberated said this week it deployed an initial assessment of its Spyder products resulting in a multiple-season plan to phase out PFAS from its branded skiwear, joining other brands making the hard choice in 2024.
EXEC: Shimano Forecasts 2024 Double-Digit Sales and Profit Decline
Fiscal full-year 2023 net sales decreased 24.6 percent from the prior year to ¥474.36 billion. Operating income decreased 50.5 percent to ¥83.65 billion, and net income attributable to owners of the parent company decreased 52.3 percent to ¥61.14 billion.
EXEC: Brooks Running Exceeds $1.2 Billion in Sales in 2023
Brooks DTC e-commerce channels reportedly grew 24 percent in global revenue YoY, including record-breaking sales from Thanksgiving through Cyber Monday, up 22 percent in North America versus 2022. China DTC jumped 194 percent for the year.
EXEC: Shimano Inc. Confirms California Lawsuit Plaintiffs Seek Class Action Status
The lawsuit was filed in the U.S. District Court in California against its subsidiary, Shimano North America Holding, Inc. as well as the three bicycle manufacturers – Specialized Bicycle Components, Inc., Trek Bicycle Corporation and Giant Bicycle, Inc.
