Vans, DTC Power VF Corp.’s Brawny Q3
On a currency-neutral basis, Vans jumped 26 in the third quarter as the Americas grew 22 percent, Europe increased 39 percent and Asia Pacific advanced 23 percent. On the same basis, global sales declined 3 percent at North Face and 2 percent at Timberland, in part due to some fall shipments shifting to the fourth quarter.
Lululemon Upgraded On “Overblown” Amazon Fears
“We believe recent mkt concerns (Amazon, denim, weather) are overblown, and we believe current levels represent an attractive entry point for one of the best performing brands (and long term growth stories) in all of retail,” Citi analyst, Paul Lejuez, wrote in a note to clients.
Skechers Q3 Powered By International Growth
Led by gangbuster gains in international markets and a gritty performance in the challenging U.S. marketplace, Skechers USA reported earnings in the third quarter that handily topped estimates.
Aisle Talk, Week Of October 16
Top headlines from the active lifestyle industry you may have missed this week.
GoPro’s Shares Upgrade On Potential Earnings Upside
Longbow Research upgraded GoPro to “Buy,” believing a selloff due to concerns over the launch of Google Clips was overdone and expectations that the company is set to deliver 2018 earnings growth solidly above Street estimates.
Jefferies Sees Curry 4 Becoming Top B-Ball Sneaker This Year
“Our calls, store visits, social media analysis and review of StockX pricing of Curry 4 soft launches (official launch 10/27) points to very strong buzz in the market,” Randal Konik, Jefferies’ lead analyst, wrote in a note to clients.
Goldman Sachs Downgrades Nike Due To Inventory Concerns
Lindsay Drucker Mann wrote in a note that wholesale growth for Nike will be “tougher to come by” with declining traffic and poor productivity at traditional brick and mortar retail partners “driving excess inventory in the system.”
Adidas Hit By Lawsuit By Rick Pitino
The suit claims Adidas has caused the legendary coach “grave damage to his public and private standing and reputation, causing him extreme embarrassment, humiliation, and emotional distress.”
HanesBrands Snaps Up Alternative Apparel
Continuing a string of tuck-in acquisitions in the activewear space, HanesBrands Inc. acquired Alternative Apparel, a marketer of apparel basics under the Alternative brand, for approximately $60 million in cash.
Puma’s Q3 Earnings Surge, Lifts Outlook
Puma reported operating earnings vaulted 68.3 percent in the third quarter as it continued its streak of double-digit top-line growth.
SidelineSwap Looks To Bring Re-Seller Market To Sporting Goods
Brendan Candon, SidelineSwap’s CEO, said, “By building a platform that’s hyper targeted on the sporting goods category, and simplifying the selling process, we’ve been able to attract a ton of athletes who otherwise would have let their gear collect dust in a garage.”
PrimaLoft Finds New Investor To Support Growth
Said Mike Joyce, president and CEO of PrimaLoft, “Our new partnership with Victor Capital will provide the capital, commitment and operating support to drive our technological innovation and market development to new levels.”
Lululemon Not Concerned About Amazon Possibly Entering Activewear
“I think Amazon is mostly around commodity product. That’s not our sandbox,” Laurent Potdevin, Lululemon’s CEO, told CNBC.
Susquehanna Downgrades Deckers Over Ugg Weakness, “Unrealistic” Marcato Plan
“Marcato’s plan to drive shareholder value at DECK is either overly optimistic or completely unrealistic,” wrote Susquehanna analyst Sam Poser in a note. “We lean towards the latter.”
IHRSA: Boutiques Continue To Lead Health Club Gains
Membership in U.S. health clubs reached an all-time high in 2016, thanks to 15 percent growth at boutique studios, according to the 2017 IHRSA Health Club Consumer Report. Studio members tend to a decade younger than the overall average for all facilities and are more ethnically-diverse.
