SGB Executive

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.”

JD Sports CEO Régis Schultz and the management team detailed its growth strategy and key objectives for the next five years and how it would enhance its position as a “leading global sports-fashion specialist.” 

Amidst ongoing efforts by REI store employees to unionize during a tough retail economy and reported heavy over-inventory levels at the outdoor gear co-op, the word now comes down from the corner office that the retailer laid off 167 leaders and employees at its headquarters locations.

Shares of Peloton jumped 26.57 percent on Wednesday as fiscal second-quarter results handily topped expectations. On an analyst call, Barry McCarthy, CEO and president, vowed the connected fitness leader was done cutting jobs as efforts to rejuvenate growth, including by selling on third-party platforms, were beginning to yield fruit.

According to recent studies, Generation Alpha, the youngest age group entering their teenage years, is poised to become the biggest disruptor at retail.

Late last week, REI Co-op and the Retail, Wholesale and Department Store Union (RWDSU) disagreed on a contract to hold an election at REI’s Beachwood, OH store. As a result, a hearing with the National Labor Relations Board (NLRB) will be held on February 3 to determine the parameters of the election process.

A Bain & Co. recent study concluded that while spending on luxury goods is forecasted to slow in 2023 following two strong recovery years, the overall sector is “more resilient to recession” versus the recession in 2009. Drivers include a higher share of top customers, the benefits of digitization and luxury’s expanding appeal to younger consumers.

Cowen raised its rating on Skechers to “Outperform” from “Market Perform” as channel checks show the brand’s value proposition resonates with customers, and a survey shows Skechers has gained preference in the casual/lifestyle footwear category from Nike and Adidas.

In a letter to the running specialty industry published in its recent newsletter to members, Running Industry Association Executive Director Terry Schalow shed light on trends in the channel and prospects for 2023.