EXEC: Saucony to See Big Decline in 2024 Before Recovery
The fourth quarter was tough for Saucony as sales fell 13.4 percent (-13.7 constant-currency) to $105.1 million, from $121.3 million in the prior-year corresponding quarter.
EXEC: Globe Int’l Swings to H1 Profit on Margin Gains, Cost Cuts
The work put in at Globe over the last year looks like a microcosm of the work ahead for much larger active lifestyle entities like VF Corporation and Wolverine Worldwide. Globe is proving it works.
EXEC: Inside the Wolverine Worldwide C-Suite – Assessing the Year Ahead
Fiscal 2024 revenue is expected in the range of $1.7 billion to $1.75 billion, roughly a 5.5 percent decline at the mid-point versus the 2023 revenues. Gross margins are expected to reach 45.5 percent of sales, a record high, and EPS is forecast to improve 5X at the mid-point.
EXEC: Havaianas Parent Ends 2023 on Low Note; Works to Conserve Cash
Havaianas revenues for the fourth quarter declined 8.7 percent year-over-year (YoY) to R$991.8 million. International revenues were down 48.9 percent to R$96.6 million in the period.
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 the company’s broad restructuring program, which it first announced in December, Nike will cut about 2 percent of its 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, Yeti 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
An industry veteran, most recently, Rigney was a board member at Sea to Summit and Marucci Sports but shifted his focus to the Yeti role in January 2023.
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.
