Melody Ehsani Leaving Role As Foot Locker Women Creative Director
Melody Ehsani, CEO of the Melody Ehsani brand and creative director at Foot Locker Women, is leaving her role at Foot Locker.
EXEC: SFIA Study Finds Industry Cautiously Optimistic On 2023
SFIA’s 2023 State of the Industry Report finds the outlook for the sports and fitness industry remains strong, although current macroeconomic headwinds and uncertainty have dimmed that optimism slightly from 2020 and 2021 levels.
Yue Yuen Enters India In Move To Diversify Footwear Manufacturing
Yue Yuen reported diversifying its footwear manufacturing capabilities by entering India to access labor and as it looks for access to manufacturing outside of China. Yue Yuen is China’s largest athletic and outdoor footwear manufacturer, serving some of the more iconic brands in the U.S. and European markets.
361 Degrees International Reports First Quarter Retail Overview
361 Degrees International Limited reported that retail sales of 361º core branded products for the first quarter posted approximately low-teens growth versus the comparable period in 2022. Retail sales of 361º kids branded products grew approximately 20 percent to 25 percent in the quarter.
Report: Lululemon Exploring Sale Of Mirror Fitness Platform
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.
EXEC: VF Scores Upgrade From Goldman Sachs
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.
EXEC: Analysts Cautious On Recovery Prospects For Sportsman’s Warehouse
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.
EXEC: Omega Sports To Shutter Operations After 45 Years In Business
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.
EXEC: Sportsman’s Warehouse Delivers Bleak Q1 Outlook On Weather Woes
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.
EXEC: Peloton’s Shares Slide As Morgan Stanley Warns Of Slowing Web Traffic
Peloton Interactive Inc.’s shares fell 11.2 Wednesday after Morgan Stanley said the connected fitness company’s web traffic had decelerated and could hinder growth.
EXEC: Shares Of Topgolf Callaway Rally Following Rahm’s Masters Win
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.
EXEC: Lululemon, Patagonia Lead Activewear Brands In Resale Popularity
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.
EXEC: Analysts Upbeat On Academy Sports Following Investor Day
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-YCMC Files To Shutter Operations In Bankruptcy
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.
EXEC: Piper Sandler’s Spring Survey Finds A Shift In Brands Winning With Teens
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.
