SGB Executive

Under Armour is making progress in its recent brand repositioning that includes better targeting teens and tapping lifestyle offerings. However, shares fell $1.01, or 8.2 percent, to $11.22 Wednesday as management warned on an analyst call that markdown pressures felt in its most recent quarter will continue in coming quarters.

VF Corp. management confirmed on a Tuesday conference call with analysts that the company began a review of strategic alternatives for its global packs business. SGB Media previously reported speculation regarding the divestment of the Jansport brand this past December.

Vans brand revenue fell 13 percent (-9 percent in constant dollars) to $927 million in the fiscal third quarter ended December 31, reflecting positive performances in Europe and Asia outside of Greater China, while the Americas remained problematic.

VF Corporation posted a 3 percent decline in revenues in the fiscal third quarter ended December 31, with currency fluctuations impacting results by six percentage points to the negative. The “big four brands” were down 3 percent, or up 2 percent in constant dollars, and the balance of the portfolio was down 2 percent, or up 5 percent in constant dollars.

At its Investor Day, Canada Goose Holdings revealed plans to nearly triple its growth in five years as it further double-downs on its direct-to-consumer push and ramps up expansion across geographies and enters categories, including eyewear, luggage, and home.

Italian comfort shoe brand Geox reported 2022 consolidated sales (preliminary) totaled €735.5 million, up 20.8 percent versus the previous year (+17.8 percent at constant-currency rates), due primarily to the strong performance across all the main distribution channels.

The big news coming out of Vista Outdoor’s earnings report last Thursday was the resignation of CEO Chris Metz, but analysts expressed more concerns about the eroding performance of the company’s organic businesses, particularly the Outdoor Products segment.

Columbia Sportswear Company saw fourth quarter net sales grow 4 percent, or 8 percent on a constant-currency basis, to $1.17 billion from $1.13 billion for the comparable period in 2021. Net income decreased 20 percent to $125.7 million, or $2.02 per diluted share.

Hoka’s sales catapulted 90.8 percent in the fiscal third quarter ended December 31, helping Deckers Brands surpass Wall Street estimates and lift its guidance for the year. On an analysts’ call, Dave Powers, Deckers’ CEO, said Hoka “more than doubled its DTC business, while demonstrating momentum across the product line and significantly increased wholesale through both market share gains and select new strategic access points.”

Skechers USA reported sales and earnings topped guidance in the fourth quarter despite supply chain disruption that restricted inventory flow and softness in China.

In one of the first casualties of the rise and fall of the outdoor space over the pandemic, Vista Outdoor, Inc.’s Chris Metz, on Thursday, was ousted as CEO due to the “board’s loss of confidence in his leadership.”