EXEC: DSW Sees Seasonal Footwear Weakness Going into Q4; Parent Cuts Outlook
CFO Jared Poff said that based on what they have seen through the fourth quarter to-date, they do not expect the sales pressures to alleviate as they wrap up the year, especially given the ongoing uncertainty in the macro environment.
EXEC: Wells Fargo Shifts to Nike from Lululemon as Top Defensive Stock Pick
On Monday, Wells Fargo replaced Lululemon with Nike as its “Top Defensive Pick” among its stock coverage in the active lifestyle space. It also downgraded Lululemon and raised its price target on Nike.
EXEC: Eddie Bauer’s CEO Discusses Modernized Rebrand
Eddie Bauer introduced a new brand evolution and redesigned its logo in September, including bringing back “the goose.” Tim Bantle, Eddie Bauer’s CEO, talked with SGB Executive about the refreshed look of the 103-year-old brand, re-embracing its outdoor roots and its heightened focus on wholesale.
EXEC: Circana Reports Outdoor Sales Down 1 Percent Through September
Julia Clark Day presented data that showed sales in the outdoor industry were down 1 percent in dollar terms year-over-year to $27.8 billion in the 12-month period ended September 2023. Unit sales were said to be down 4 percent for the period.
EXEC: UK Retail Foot Traffic Rebounds in November
After suggesting the the UK retail market was hampered by stalled consumer spending in October, the British Retail Consortium reportedly saw a recovery in foot traffic in November, with total UK foot traffic down 0.7 percent year-over-year.
EXEC: Asics Expands 2026 Plan as Company Drives Past 2023 Targets
Asics Corp. has outlined goals that sees the Japanese performance footwear and apparel company returning to the lead in market share in the run specialty channel in North America by 2025, and a new focus on regional profitability.
EXEC: Academy Sports Sees Weather/Consumer Woes Derailing Sales Recovery
Academy Sports and Outdoors, Inc. said a slow start to fall selling due to warmer temperatures as well as continued weak consumer demand caused third-quarter results to miss plan, resulting in a downward revision to full-year guidance. CEO Steve Lawrence said on an analysts call, “We feel like we don’t have a challenged strategy. We’ve got a challenged customer.”
Deloitte: Women’s Sports Revenue Set to Hit $1B In 2024
Deloitte forecasted that women’s elite sports will generate global revenues of $1.28 billion in 2024, the first time that annual global revenues for women’s sports will have surpassed $1 billion.
EXEC: VF Corp. Cutting Another 500 Jobs
Fifteen months after cutting 300 jobs across its global workforce, the parent of the Vans, TNF, Dickies, Timberland, Smartwool, Jansport and other active lifestyle brands, is at it again, confirming Wednesday that another 500 jobs would be eliminated this week.
EXEC: Foot Locker Finds Progress with Lace-Up Strategy
Shares of Foot Locker, Inc. rose about 16 percent Wednesday after the sneaker juggernaut reported better-than-expected third-quarter results, encouraging sales trends so far in the fourth quarter and what Mary Dillon, president and CEO, hailed as several “early wins” in the company’s Lace Up transformation program.
EXEC: Black Friday Weekend Sales See Encouraging Start to Holiday Selling
Led by online selling and boosted by promotions, sales on Black Friday and over the past weekend topped or came in line with modest expectations, according to multiple survey reports and Wall Street analysts.
EXEC: Analysts Skeptical of Colt CZ’s Bid for Vista Outdoor
While Vista Outdoor’s stock has seen an uptick following news of Colt CZ making an unsolicited offer to acquire the company for $30 per share, or for $1.74 billion, analysts believe Vista’s board will reject the offer and follow through on its planned sale of Vista’s ammo business to Czechoslovak Group.
EXEC: Vista Outdoor Receives Unsolicited Offer to Acquire Company
Colt CZ Group has made an unsolicited offer to acquire the company for $30 per share, or $1.74 billion, potentially derailing a planned sale of Vista’s Sporting Goods business to Czechoslovak Group (CSG) and spinoff of the Outdoor Sports segment.
EXEC: Wall Street Reacts to Strong Q3 for Dick’s and Hibbett
The third-quarter earnings beats and raised guidance for both Dick’s Sporting Goods and Hibbett increased investor confidence that the athletic retail space is positioned to at least outperform the broader retail sector in a challenging marketplace, although some analysts were concerned about margin pressures at Dick’s.
EXEC: Kohl’s Shares Fall on Choppy Q3 Results, Sharp E-Commerce Decline
The retailer had a solid back-to-school season, and through the first eight weeks, sales were tracking above expectations, but warmer weather during the latter part of September and into October had a clear impact on demand for fall seasonal goods, especially in store.
