EXEC: Giant Group Posts 20 Percent Sales Decline in First Quarter
The Giant Group reported monthly revenues for March 2024 fell in double digits once again, declining 17.4 percent to NT$7.12 billion, representing a moderation from a sharp 27.2 percent crash in February.
EXEC: Under Armour’s HR Chief and DEI Leader to Exit Company
Tchernavia Rocker’s departure represents the second female senior executive planning to exit the company in the last two months. Rocker joined UA in February 2019 as chief people and culture officer.
EXEC: Dr. Martens Names New CEO as Wilson Enters Final Year in the Role
As part of an orderly succession plan, and following a thorough search process, the Board promoted its chief brand officer, Ije Nwokorie, to succeed Kenny Wilson as CEO.
EXEC: Dr. Martens Sees Tough Year Ahead; U.S. Business Planned Down Double Digits
The company assumed that revenue will decline in single digits year-over-year and could see a worst-case scenario of profit before tax of around one-third of the Fiscal 2024 level.
EXEC: Adidas Gets Another Yeezy Lift in Q1; Increases 2024 Guidance
Adidas now expects full-year 2024 currency-neutral revenues to increase at a mid- to high-single-digit rate in 2024, up from its previous forecast for a mid-single-digit increase. The latest Yeezy drop added revenues of around €150 million and an operating profit of around €50 million in the first quarter.
BRC: UK Retail Sales See Good Recovery in March, Outpacing U.S. Trends
The British Retail Consortium said UK total March retail sales increased 3.5 percent year-over-year in March, cycling growth of 5.1 percent in March 2023. This was said to exceed the 3-month average growth of 2.1 percent and the 12-month average growth of 2.9 percent.
EXEC: Three Global Running Associations Partner on Events and Conferences
This new collaboration between European Athletics, Running Industry Alliance and Running USA could signify a milestone in showcasing innovation and growth within the B2B running industry.
EXEC: Lululemon, Patagonia and Vuori Top Best Brands for Resale Report
Active lifestyle brands dominated the leader board in the latest annual resale report from ThredUp and doubled representation in the report’s Top 20 for Best Brands for Resale.
EXEC: First Quarter Footwear Manufacturing Sees Mixed Results
Long-time Nike manufacturing partner Feng Tay posted a solid 6.5 percent increase for Q1, while footwear shipments at Yue Yuen, one of the biggest makers of athletic and outdoor footwear, saw flat shipments for the quarter.
EXEC: Sports Direct Parent Looks to Expand Presence in the Netherlands
Frasers Group has signed a deal to acquire Dutch sports retailer Twin Sport BV as it looks to expand its footprint across the Benelux region and beyond. Frasers currently has five stores in the Netherlands under the Sports World banner.
EXEC: Nike and Lululemon Fight Teen Perceptions as Smaller Brands Take Share
With all the conversations about Wall Street darlings Lululemon and Nike stumbling this spring after recent earnings reports for their most recent quarters, it is interesting to read the hard data supporting or countering early reactions.
EXEC: CSG Taps JP Morgan Financing for the Vista Outdoor Ammo Deal
Czechoslovak Group issued a statement reaffirming its commitment to the proposed all-cash acquisition of Vista Outdoor, Inc.’s ammunition business for a total consideration of $1.91 billion, with fully committed financing from JP Morgan Chase.
EXEC: Decathlon Boasts Robust Growth for 2023 Despite Market Headwinds
Decathlon posted a solid year-over-year gain for 2023, with sales up 1.2 percent in reported euro terms to €15.6 billion for the year, or an increase of 4.4 percent in constant-currency terms.
EXEC: Sports Direct to Open Two New Flagship Locations in London
The stores, one in Westfield Stratford and the other in Westfield London, are “further progress” in Sports Direct’s elevation strategy, while the Oxford Street flagship will remain the cornerstone of the Sports Direct brand in London.
EXEC: Levi Strauss Gets DD Lift from Beyond Yoga in Q1; Exits Footwear
Revenues from e-commerce grew 13 percent on a reported basis and 12 percent on a constant-currency basis, reflecting double-digit growth across the Levi’s and Beyond Yoga brands.
