SGB Executive

EXEC: Nike Retains Top Spot as Most Valuable Global Apparel Brand

Nike ranked as the world’s most valuable apparel brand for the ninth consecutive year, according to Brand Finance’s 2023 Annual Apparel 50 Report.  Other brands in the active lifestyle space that made the Top 50 included Adidas, at #5; Lululemon, #16; Puma, #19; Anta, #26; Under Armour, #27; The North Face, #28; Moncler, #29; Skechers, #32; Fila, #34; Li Ning, #42; and New Balance, #50.

EXEC: HSBC is Bullish on Adidas, Lululemon and Puma; Still Holds on Nike

In a bullish report, HSBC said that despite tough conditions expected to continue in the U.S., sales growth and margins should improve for the global sporting goods sector following its “post-pandemic hangover.” Beneficiaries include Adidas, Lululemon and Puma, all rated “Buys” by HSBC while Nike remains at “Hold” due to its U.S. exposure.

EXEC: Nike Confident In Profit Recovery in FY24

At its annual meeting, Nike officials expressed confidence that profitability would bounce back in the coming fiscal year ended May 2024 after markdowns to clear excessive inventories led to a profit shortfall in the prior fiscal year. Execs were also bullish on the brand’s innovation pipeline, structural tailwinds behind the athletics space and its evolving marketplace strategy.

EXEC: Inside Birkenstock’s Growth Plans

In its IPO prospectus, Birkenstock said it sees “ample whitespace to continue growing the Birkenstock brand” by raising brand awareness, production capacity expansion, core and new product portfolio innovation, and a continued DTC shift.

EXEC: Birkenstock Files for IPO

Birkenstock Holding filed for an initial public offering with the U.S. Securities and Exchange Commission. The filing shows revenues increasing to €1.24 billion ($1.33 bn) in FY22 from €727.9 million in fiscal 2020, a 31 percent two-year CAGR (compound annual growth rate).

EXEC: Skechers Notes Continued Pressure in U.S. Wholesale Business

Speaking at the Piper Sandler Growth Frontiers Conference, John Vandemore, the CFO at Skechers USA, said the company continues to see strong demand for the brand across its DTC channels but is not seeing any indication that the elevated inventories affecting U.S. wholesale business to alleviate anytime soon.

EXEC: Academy Sees Upside as Brands Shift Back to Wholesale Focus

ASO executives covered a wide range of topics in the Fireside Chat at the Goldman Sachs conference, including the promotional climate, the chain’s expanding “good, better, best” pricing strategy and major vendors’ newfound appreciation of wholesale sales.

EXEC: Active Lifestyle Retail Weathers Rough Second Quarter Waters

Although a few retailers outperformed in the second quarter, big names in the active lifestyle space fought through a challenging  quarter amid promotional pressures, retail theft and the consumer’s continued shift away from discretionary purchases.

Report: New Era Preparing for Initial Public Offering

New Era Cap, LLC is reportedly talking to law firms and investment banks as part of a plan to go public next year. The IPO comes after fourth-generation company leader Chris Koch stepped down last fall from daily operations as private equity firms bought a significant stake in the headwear manufacturer.

EXEC: American Outdoor Brands Execs Detail Fiscal First Quarter Progress

The recent issues with inventory and reduced consumer demand in the broader firearms market at retail had an effect of the company’s Shooting Sports segment, but strong growth in the company’s Outdoor Lifestyle segment offset the decline in the shooting accessories business.