SGB Executive

Lululemon Athletica, Inc. is working with an adviser to explore selling the Mirror connected fitness business, which has underperformed since LULU acquired the company in 2020, sources told Bloomberg. The report comes as LULU, on March 29, said it absorbed after-tax impairment and other charges against fourth-quarter earnings totaling $442.7 million related to Mirror.

Goldman Sachs upgraded its stock rating on VF Corp. to “Buy” from “Sell” as the investment firm believes strategic actions, including overhauling Vans’ management team, have improved VF’s outlook for profitability.

Sportsman’s Warehouse’s shares fell Thursday on weak first-quarter guidance and the abrupt retirement of CEO John Barker. Analysts slashed price and earnings targets on the hunt & fish retailer while generally remaining cautious on the stock, given the low visibility into a return to positive same-store growth.

Omega Sports, the sporting goods retailer based in Greensboro, NC, reported it is its brick-and-mortar and e-commerce operation after 45 years of business.

Sportsman’s Warehouse Holdings, Inc., as expected, reported a sharp decline in sales and earnings in the fourth quarter as inflationary and recessionary pressures slowed sales of higher-ticket items. However, the hunt & fish retailer unexpectedly delivered dismal guidance for the first quarter as unseasonally snowy and rainy weather in the West stalled the start of the shooting, fishing and camping seasons.

Shares of Topgolf Callaway Brands Corp. rallied on Monday and Tuesday following the Masters Tournament win by Jon Rahm this weekend as well as a bullish analyst note highlighting healthy tailwinds for the company and the golf industry.

Lululemon is the second most popular brand in resale, according to ThredUp’s 11th Annual Resale Report. Other activewear brands that made its Top 20 Most Popular Brands In Resale include Patagonia, at No. 6; Vuori, in 10th place; and The North Face, at 18.

The analyst community remained bullish on Academy Sports following its Investor Day presentation that saw the retailer deliver an ambitious plan to expand its store base by 50 percent by 2027.

Shoe City, a Baltimore-based sneaker and streetwear lifestyle retail chain operating 39 stores in Maryland, Virginia and Washington, D.C., and the online site, YCMC.com, filed for bankruptcy and will cease operations. Top unsecured creditors in the case include New Balance, Timberland, Puma, and Nike.

Converse, Crocs, Hoka, New Balance and On were among the brands in the active lifestyle space increasing their appeal with teens in Piper Sandler’s 45th semi-annual Taking Stock With Teens survey. Nike dominated teen mindshare in both footwear and apparel but lost appeal in performance offerings while Adidas, Under Armour and Vans all lost ground with teens.

At its Investor Day meeting, Academy Sports and Outdoors, Inc. outlined plans to open 120-to-140 new stores over the next five years through 2027, expanding its store base by 50 percent in existing and new markets. The Katy, TX-based retailer currently has 268 stores across 18 states.

L.E.K. Consulting’s second annual U.S. Footwear and Apparel Brand Heat Index* found Nike continue to dominate in popularity across athletic categories, while The North Face, Patagonia, Columbia and Ugg led the outdoor space. However, many newer brands including Hoka, On, Cotopaxi, Fjällräven and Huk gained significant traction and brand recognition that varied across genders and generations.

At the JP Morgan Retail Round Up Conference, Mary Dillon, Foot Locker’s CEO, said while Foot Locker expects to resume growth with Nike by holiday 2023, Foot Locker’s position as a multi-brand retailer will be key to capitalizing on the broadening sneaker opportunity. She said, “Being a multi-branded retailer matters because consumers want choice and they love to shop across brands.”