EXEC: Signa Sports’ Q2 Results Waylaid By Bike Inventory Overhang
Signa Sports reported a steeper loss in its fiscal second quarter ended March 31 as sales fell 23.5 percent. The operator of niche sports e-commerce websites also warned of further sales declines and margin compression in coming quarters as it believes another 12-to-18 months is needed for elevated bike inventories to fully clear.
Report: Outdoor Recreation M&A Slower But Valuations Holding Up Amid Turmoil
A market report from Capstone Partners found that M&A activity has slowed in 2023 as sellers and buyers have approached transactions with increased caution amid economic headwinds. However, the company found that price multiples remained robust for making deals as the industry continues to benefit from elevated spending and participation rates since the pandemic.
Report: Asics Cutting Ties with Smaller U.K. Specialty Retailers
Independent sports retailers in the U.K. are reportedly reeling from a move Asics Corp. is making to narrow its distribution in the region. In a recent article published by The Guardian, Asics was said to be “cutting off supply to hundreds of small U.K. outlets…”
JD Sports Maintains Full-Year Outlook Despite North America Drag On Growth
JD Sports Fashion Plc shares were down nearly 6 percent in early trading in London on Tuesday after the retailer, parent of the JD, Finish Line, DTLR and Shoe Pavilion in the U.S., provided and update on the current year business for attendees at its Annual General Meeting.
EXEC: Adidas Earns Stock Upgrade On Expected Favorable Fashion Cycle
UBS raised its rating on Adidas to “Buy” from “Neutral” due to its expectations that renewed momentum in the brand’s lifestyle offerings, particularly the Gazelle and Samba styles, support broader top-line growth.
Study: Luxury Sales Expected To Grow Again In 2023 Despite U.S. Slowdown
Bain & Company and Altagamma’s 2023 spring luxury study projected that the personal luxury goods market would grow 5 percent to 12 percent in 2023, following a record year in 2022. The gains come despite moderate luxury shopping in the U.S. due to economic uncertainties.
Research: Team Sports Equipment Holds Onto Pandemic Boost, Private Label Share Grows
Team sports equipment was the only category in the sports equipment space that grew in the twelve months through April, continuing to add to its pandemic gains, according to Matt Tucker, the director of client development for sports equipment at Circana, who recently presented its finding at the Outdoor Retailer Summer 2023 show.
Spring U.S. Outdoor Sales Pressured By Footwear And Equipment Weakness
U.S. outdoor industry sales slid 1 percent in dollars (-4 percent in units) in the 12 months through April to total $28 billion, Julia Clark Day, Circana’s executive director of business development, Sports, said in a presentation she gave at the Outdoor Retailer Summer 2023 show.
EXEC: Smith & Wesson Bullish On Year Ahead After Tough Fiscal 2023
Looking at the top-line numbers for Smith & Wesson Brands, Inc. over the last three years would lead one to believe that this is a company in trouble, as fiscal year sales plummeted nearly 55 percent from its peak of more than $1.0 billion in fiscal 2021, but that metric would only reveal part of the story
EXEC: Stalking Horse Bidder Emerges In Rockport Bankruptcy
The Rockport Company’s stalking horse bidder in its bankruptcy auction has signed a purchase agreement that sets the value of the company’s intellectual property and the buyer’s right to purchase the company’s equity interest in certain subsidiaries and puts in place a formula for valuing inventory purchased at closing.
EXEC: Nike’s Valuation Declines In Kantar’s 2023 Most Valuable Brands Study
In Kantar’s 2023 BrandZ Most Valuable Global Brands Report, Nike continues to reign as the highest-valued brand; however, the company lost ground year-over-year due to a slowdown at retail, challenges from an inventory glut, the post-pandemic shift away from activewear, and increased competition from Chinese brands.
EXEC: Vans Seeks Path Back To Growth With New OTW By Vans As The Vault Retires
The Vault by Vans product chapter will conclude by the end of 2023, making way for the launch of OTW by Vans in early 2024 with a distinctive e-commerce experience and be available through a globally-curated selection of wholesale partners.
EXEC: Wall Street Cautiously Optimistic On VF’s “Outsider” CEO Hire
Shares of VF Corp. were up slightly Tuesday despite the company’s surprising move to go outside the industry to hire Bracken Darrell, former CEO of computer accessories maker Logitech International, as its new CEO. Analysts were hopeful Darrell’s track record for driving growth, executing turnarounds and global expertise offsets his lack of experience in the apparel and footwear space.
EXEC: Outdoor Participation Holding Onto Pandemic Gains
The 2023 Outdoor Participation Report shows that the outdoor recreation participant base grew 2.3 percent in 2022 to 168.1 million people, or 55 percent of the U.S. population over age six, and is increasingly more diverse in ethnicity, race, age, sexual, and gender identity.
EXEC: Rockport’s Top Industry Creditor Outlines Company Risk To Investors
In a letter to investors on June 16, the Board of Directors of Stella International Holdings Limited, the largest creditor listed in the bankruptcy filed last week by The Rockport Company with approximately $24.1 million owed to the footwear manufacturer, outlined the risk to the company by Rockport’s filing.
