EXEC: Mizuno Corp. Raises FY Forecast Despite Lower Fiscal Q3 Growth
Sales grew 11.0 percent in the fiscal third quarter ended December 31, a deceleration from the 23.8 percent growth in the first half, but the solid start to the year and surging profitability is driving the outlook higher.
EXEC: Mips Sees Bike Helmet Market Starting to Recover
The Swedish helmet technology provider saw sales declines moderate quite a bit in the fourth quarter as the company sees the bicycle helmet category was posting growth again but upside there could not overcome the sharp decline in the motorcycle business.
EXEC: Ahead, Craft, Cutter & Buck Parent Posts Sales and Profit Declines in Q4
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson AB, reported that fourth quarter net sales declined 3 percent to SEK 2,735.9 million from SEK 2,815.1 million in Q4 last year.
EXEC: VF Sees The North Face Fiscal Q3 Results “Worse Than Expectations”
Global revenue for The North Face was down 10 percent (-11 percent CC) to $1.19 billion in the quarter. Excluding a wholesale shipment timing shift, The North Face’s revenue would have reportedly declined in the mid-single-digits. DTC was up in mid-single-digits for Q3.
EXEC: VF Execs Outline Progress Against Transformation Plan, Brand and Region Review
The big jobs ahead are based on fixing the overall Americas business and delivering a turnaround in the Vans business. The key objective of the Reinvent program involves cutting costs and building the balance, which is reportedly both well underway.
EXEC: Vans Falls 29 Percent in Q3; Inventory Down as Brand Helps Create OTB
VF execs talked about refreshing the Vans brand product at retail and revealed that they were removing slow-moving inventory from retailers to create open-to-buy for stronger product that was moving in the market. Inventory was down 30 percent at quarter-end.
Descente, Ltd. Posts Fiscal YTD Sales Increase Despite Golfwear Decline
Gains from the incorporation of Le Coq Sportif (Ningbo) Co. Ltd. and increased sales in the athleticwear category were larger than the decrease in sales in the golfwear category and the termination of the Marmot license in Japan in December 2022.
EXEC: 361 Degrees Pre-Announces Healthy Q4 Profit Growth
Profit attributable to the equity shareholders of the company for the year ended December 31, 2023 is expected to increase by not less than 25 percent year-over-year.
EXEC: Deckers Brands CEO Details the Big Fiscal Q3 for Hoka and Ugg
Ugg posted its first billion-dollar quarter, Hoka posted 22 percent growth in the middle of winter and the company boasted a 50 basis-point improvement in gross margins to fuel a 44 percent increase in diluted earnings per share.
EXEC: Columbia Cutting 3 to 5 Percent of U.S. HQ Staff on Lowered 2024 Outlook
Bright spots for 2023 included a 27 percent reduction in inventory that helped the company generate over $600 million in operating cash flows for the year, but a sick U.S. market for the Columbia brand and weaker Sorel and Prana performances continue to drag on the business.
EXEC: Vista Outdoor Reaffirms Guidance; Work Toward Split Continues
CFO Andy Keegan said the company expects the separation of its business to jump-start the “compelling vision” for Revelyst, the former Outdoor Products segment, by capitalizing its balance sheet with cash to accelerate its capital allocation strategy.
EXEC: Amer Sports IPO Comes Up Short; Some Cite China Concerns
Arc’teryx generated 43 percent of its overall revenues in Greater China in the nine-month YTD period in 2023, while the region only generated 5 percent of sales for Salomon and Wilson. Thirty-six Arc’teryx stores in China accounted for 16.7 percent of global brand revenues for the 2023 YTD period.
Safilo Group Posts Best Quarter of 2023 in Q4; Smith Optics Up on DTC Growth
The parent of Smith and the eyewear licensee for Carrera, Havaianas, Under Armour, and Fossil, reported preliminary unaudited net sales were €238.7 million in the 2023 fourth quarter, marking the best performance of the year.
EXEC: Adidas Tops Latest 2023 Guidance; Will Not Write-Off Most Yeezy Inventory
Adidas is reporting that 2023 currency-neutral revenues were flat versus the prior-year in reported euro terms, and sales were said to be down 5 percent to €21.43 billion in 2023, compared to €22.51 billion in 2022 in reported euro terms.
EY Survey: CEOs are Displaying Newfound Resilience and Confidence
Global CEOs are optimistic about their ability to drive revenue growth and profitability in 2024 despite global economic headwinds, according to the latest EY CEO Outlook Pulse survey.
