KMD Posts Record H1 Results On Triple-Digit Oboz Growth, Double-Digit Rip Curl Gains
KMD Brands Limited reported that fiscal 2023 first-half revenue jumped 34.5 percent to A$547.9 million. The first-half saw continued sales growth for Rip Curl, strong Australian recovery for Kathmandu, and record first-half sales for the Oboz business
EXEC: Nike Warns Of Continuing Margin Pressures Amid Stubborn Inventory Glut
Nike Inc. reported sales and earnings in its fiscal third quarter ended February 28 topped Wall Street targets as strong demand drove broad-based growth across brands, channels and geographies. However, the sportswear giant lowered its margin guidance for its fiscal year as it still has some work to do in whittling down bloated inventories.
EXEC: Foot Locker’s Shares Rise On Upgrades Following Investor Day
Shares of Foot Locker rose 7 percent on Tuesday as analysts at Citi and Evercore upgraded the stock following the retailer’s Investor Day on Monday. Citi’s Paul Lejuez said Foot Locker’s moving in the right direction, turning attention away from malls and the Champs brand and instead focusing on offerings related to kids, loyalty and digital.
Anta Sports Posts Solid 2022 Revenue Growth Despite Fila Brand Dip In China
Anta Sports Products Limited saw revenue increase 8.8 percent to RMB53.65 billion in 2022, compared to RMB49.33 billion in 2021. The Group’s operational measures and “Dynamic Management” approach were said to have been effective as profit attributable to shareholders reached RMB7.59 billion, outperforming market expectations.
EXEC: On’s Shares Pop On Accelerated Q4 Growth Momentum
Shares of On Holding rose 26 percent Tuesday after the Swiss running brand reported revenues jumped 92 percent in the fourth quarter with the help of market share gains in running and tennis and On’s strengthening appeal with younger consumers. On officials also provided a bullish outlook for 2023.
EXEC: Foot Locker’s Shares Take Hit On Weak 2023 Outlook
At its Investor Day on Monday, Mary Dillon, Foot Locker’s new CEO and president, outlined an ambitious “Lace Up” growth plan and said progress is being made in repairing the company’s relationship with Nike. However, shares of Foot Locker fell $2.43, or 5.8 percent, to $39.83 as earnings for the current year were guided sharply below analyst targets as the business undergoes a “reset.”
EXEC: Fitness Chains See Brawny Recovery Continue Into 2023
As consumers return to fitness clubs, publicly-traded club operators Planet Fitness, Life Time Fitness and Xponential Fitness reported fourth-quarter results topping expectations and delivered upbeat forecasts for continued growth in 2023. The results were in sharp contrast to the in-home fitness equipment brands that saw revenues take a dive following pandemic-driven growth.
EXEC: L.L.Bean’s Revenues Slip In 2022 Against Record Year
Following two years of robust growth, L.L.Bean’s sales fell about 1 percent in 2022, to $1.8 billion a year ago. In a statement, L.L.Bean noted that it was able to hold “onto recent gains to yield its second-strongest revenue performance in company history.”
Stella International Sees Sales Grow 5.9 Percent In 2022 On Flattish Shipment Volumes
Stella International Holdings Limited reported that consolidated revenue for the year ended December 31 increased by 5.9 percent to $1.63 billion, compared to $1.54 billion in 2021. Shipment volumes for the year rose by 0.4 percent to 56.0 million pairs from 55.8 million pairs in 2021, led by the company’s Fashion and Sports segments.
Li Ning Posts Double-Digit Sales Growth In 2022 Despite Sporadic COVID Shutdowns
Li Ning Company Limited reported revenue for the year ended December 31, 2022 increased 14.3 percent to RMB25.80 billion, compared to RMB22,57 billion in 2021.
EXEC: Academy Sees Value Focus Driving Share Gains In 2023
Academy Sports + Outdoors saw fourth-quarter sales come in below plan due in part to weakness in the hunt category, but strength in apparel and footwear as well as lower freight costs helped earnings easily top analyst targets. Officials also gave an upbeat outlook for 2023 due to improved inventory content, healthy demand across most categories and the benefit of its value positioning in a more-challenged economic climate.
Yue Yuen Factory Revenues Again Offset Retail Declines in Q4; Full-Year Footwear Sales Up 28 Percent
In the year ended December 31, 2022, revenue attributed to footwear manufacturing activity (including athletic/outdoor shoes, casual shoes and sports sandals) increased by 28.2 percent to US$5.71 billion, compared with the previous year. The volume of shoes shipped during the year was 272.7 million pairs. Average selling prices rose over 12 percent for the year.
EXEC: Crocs “Off To A Great Start” In 2023
Speaking at the UBS Global Consumer and Retail Conference, Andrew Rees, CEO of Crocs, Inc., said the company is “off to a great start” in 2023, driven by innovation and new product introductions from its Crocs and Hey Dude brands.
EXEC: Dick’s SG Bullish On Post-Pandemic Growth
Speaking at the BofA Securities 2023 Consumer & Retail Conference, Lauren Hobart, president and CEO at Dick’s Sporting Goods, and Ed Stack, executive chairman, discussed the chain’s transformation and other factors expected to drive continued robust top-line growth for Dick’s in the years ahead as well as why the chain is faring better than other retailers in the current inflationary climate.
EXEC: Famous Footwear’s Q4 Boosted By Athletic
Famous Footwear’s comparable store sales increased 0.7 percent in the fourth quarter, better than initial expectations, due to a strong second half in driven by athletic footwear. On a call with analysts, Jay Schmidt, CEO of Caleres, said, “This late quarter performance was driven by robust demand for key athletic brands, which the Famous team was able to capitalize on due to a stronger in-stock position compared to last year.”
