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.
EXEC: Rockport Blames Bankruptcy On Lackluster Back-To-Work Recovery
Rockport survived a steep drop in sales in 2020 during the first year of the pandemic, but an inventory glut to capitalize on the return to working in offices post-pandemic failed to deliver and led to the iconic footwear company’s second bankruptcy in five years, according to court papers.
Golf Equipment Sales Growth Moderates, But Still Well Above Pre-Pandemic Levels
Golf ball sales have surged upward this spring with a boost from healthier inventory levels and the return of promotions to help offset some weakening across golf club categories, according to the latest data from Golf Datatech and the National Golf Foundation. Growth across most equipment categories remains well ahead of pre-pandemic 2019 levels.
The Rockport Co. Files For Chapter 11 Bankruptcy; CEO Resigns
The Rockport Co. has filed Chapter 11 bankruptcy in a U.S. District Court in Delaware and intends to file a motion seeking authorization to pursue an auction and sale process.
EXEC: Ammo, Inc. Eyes Recovery Year With Focus On Premium Offerings
Ammo, Inc. reported a loss in its fiscal year ended March 31, as sales dropped 20.3 percent; however, company officials forecasted improved profitability in FY24 due to its focus on premium brass and large-caliber ammunition rounds within its ammunition business and several enhancements, including a payment suite and cart platform, to its GunBroker.com marketplace.
EXEC: A Cautious Look Ahead After Retail’s Bumpy Ride In First Quarter
For many retailers with a prominent presence in the active lifestyle space, the first quarter worsened as the months went on with a large part of the blame placed on inflationary and macro-economic pressures. Seven retailers – Academy Sports, Hibbett, Foot Locker, Genesco, Shoe Carnival, Designer Brands and Macy’s – reduced their outlook for the year, although three – Lululemon Athletica, TJX Cos. and Ross Stores – bucked the trend by raising guidance.
EXEC: Adidas Earns Upgrade On Lionel Messi’s Move To Miami
Bernstein analysts upgraded their rating on Adidas from “Market Perform” to “Outperform” in part due to Lionel Messi’s move to join Inter Miami to become Major League Soccer’s biggest star. In 2017, Messi signed a lifetime contract with Adidas worth a reported $1 billion.
