EXEC: China’s Slowed Recovery Bad Omen for Sports Industry’s Global Players
Hopes by several global players in the active lifestyle space that a strengthening recovery in China would offset weakness in North America this year were dimmed Monday after China’s second-quarter GDP growth arrived below expectations.
Study: Gen-Z an Untapped Opportunity for Fitness
A study from Les Mills, “Gen Z Fitness: Cracking the Code,” found that 36 percent of the Gen Z generation exercise regularly and 50 percent, identified as the “untapped market.” want to work out regularly but said they need help getting started.
Stella International Sees Moderating Declines in Footwear Shipments in Q2, Higher ASPs
The manufacturer of footwear for Nike, Saucony, Under Armour, Merrell, Timberland and Ugg saw Q2 shipment volumes decrease by approximately 6.7 percent year-over-year, which signaled a more moderate decline than in the first quarter.
EXEC: RG Barry CEO Talks Data, Digital and Consumer Focus
RG Barry, the parent of Dearfoams slippers and Baggallini handbags and backpacks, has seen sales double over the past five years with a 15 percent compound annual growth rate. Bob Mullaney, CEO, talked with SGB Executive about the company’s recent progress, growth potential and key brand initiatives.
EXEC: New Study Sees Walmart, Dollar Stores, Off-Pricers as BTS Winners
Coresight Research’s U.S. Back-To-School (BTS) 2023 study found the big BTS winner is expected to be Walmart with Amazon and Target losing ground. Dollar stores and off-pricers were also seen gaining BTS share with those channels, as well as Walmart, benefiting from the post-pandemic recovery in-store shopping.
EXEC: Inside the Jogology Launch with Co-Founder Tanya Pictor
Tanya and Bert Pictor, the founders of Balega Socks, are partnering with Luke Rowe, the running industry veteran, to launch a new running sock brand, Jogology, that will be sold exclusively at run specialty stores. Tanya Pictor talked to SGB Executive about inspiration behind Jogology and how the brand plans to differentiate itself in the crowded sock market.
Yue Yuen Manufacturing Business Revenues Falls 24.2 Percent in June
Yue Yuen Industrial (Holdings) Limited, a subsidiary of Pou Chen Corporation that manufactures a large percentage of global athletic and outdoor footwear, reported that its net consolidated operating revenue for June was $676.8 million, an 18.9 percent decline year over year.
Nike Canada Investigated by Canadian Ombudsperson for Responsible Enterprise
Nike Canada Corp. is alleged to have or have had supply chains or operations in the People’s Republic of China identified as using or benefitting from the use of Uyghur forced labor.
EXEC: Osprey Outperforms in Parent’s Q1 Results; Hydro Flask Hurt by Preference Shift
On today’s analyst call, Julien Mininberg, Helen Of Troy’s CEO, said Osprey, acquired in December 2021, surpassed expectations for the second straight quarter, but Hydro Flask continued to be pressured by a shift in consumer preference from insulated bottles to tumblers.
EXEC: Deloitte Study Find Sports Fandom Getting More Immersive
Deloitte’s inaugural study, 2023 Sports Fan Insights: The Beginning Of The Immersive Sports Era, found that despite concerns over past pandemic-driven closures of live sporting events, today’s sports fans remain strong, with younger fans craving spectator sports experiences.
JD Sports Responds to CMA Statement on Anti-Competitive Actions
JD Sports Fashion Plc responded to a recent Competition and Markets Authority (CMA) press release regarding the issuance of a statement of objections relating to its previously announced investigation into suspected breaches of competition law
EXEC: Active Lifestyle Stocks Show Some Recovery In First Half
On Holding, Adidas, Deckers Outdoor, Amazon, Smith & Wesson and Skechers USA delivered share price gains of more than 30 percent in the first half of 2023 in an overall mixed performance for stocks in the active lifestyle space. Laggards included VF Corp., Hibbett, Under Armour and Foot Locker.
EXEC: Jordan Brand Shines For Nike In FY23
On Nike’s fourth-quarter analyst call, John Donahoe, president and CEO, Nike, Inc. talked up progress and untapped opportunities for Nike Brand around global football (soccer), basketball and running categories, but Jordan Brand was by far the star performer for Nike’s fiscal year ended May 31.
EXEC: Nike Delivers Rare Quarterly EPS Miss, Cloudy Outlook
Nike missed on earnings for the first time in three years as compressed margins weighed on profits during its fiscal fourth quarter ended May 31. The sportswear giant also forecast first-quarter revenue below Wall Street targets as North America softness overshadowed China’s recovery. On the positive side, Nike indicated demand remains healthy across regions and inventories have been rebalanced to position the company for profitable growth going forward.
Overstock.com To Re-Brand After Bed Bath & Beyond IP Acquisition
Overstock.com, Inc. reported it acquired certain intellectual property assets of the Bed Bath & Beyond banner from Bed Bath & Beyond, Inc. under a Bankruptcy Court supervised process. The company purchased the assets for $21.5 million, funded with cash on-hand.
