EXEC: Puma Delivers Blowout Q1 In North America
Puma delivered 44 percent currency-neutral growth in the Americas region in the first quarter, boosted by the energy around Lamelo Ball’s basketball shoe, the brand’s return to performance running and the recovery in golf.“ Said Bjørn Gulden, Puma’s CEO, on a media call, “I’m very, very proud of the North American numbers.”
EXEC: Skechers Q1 Beat Powered By U.S. Wholesale Gains
Starting its 30th year in business, Skechers U.S.A., Inc. reported sales grew 26.8 percent in the first quarter ended March 31 to a new quarterly sales record, boosted by a resurgence in its U.S. wholesale business as product deliveries recovered.
EXEC: Callaway Delivers Bullish Golf Outlook At Investor Day
At Investor Day, Callaway Golf Company set an aggressive growth plan to expand sales by 10-to-12 percent from fiscal 2021 through 2025, led by its Topgolf segment. Officials were optimistic that demand for golf would not experience a significant pullback post-pandemic.
EXEC: Acushnet Holdings Draws Cautious View From Morgan Stanley
Morgan Stanley launched coverage on Acushnet Holdings, the parent of Titleist and Footjoy, with an “Equal-Weight” rating as Acushnet’s recent growth momentum is seen priced into its valuation. Analyst Brian Harbour said Acushnet has “unique advantages in consumer discretionary and longer-term upside if golf tailwinds endure.”
EXEC: Wall Street Reacts To Lululemon’s Analyst Day
Shares of Lululemon slid $19.26, or 4.8 percent, to $385.40 after the yoga-themed retailer announced an ambitious five-year growth plan to double its sales by 2026. Analysts were generally bullish on Lululemon’s growth plan with a few concerned about the stock’s lofty valuation.
EXEC: Lululemon Targets $12.5 Billion In Sales By 2026
At its analyst day, Lululemon Athletic announced goals to double sales by 2026 under its “Power of Three ×2 growth” strategy that calls for doubling men’s and digital and quadrupling international business over that timeframe. Calvin McDonald, CEO, said at the event, “The opportunity, obviously, is to keep doing what we’re doing.”
EXEC: Speculation On Potential Athleta Spinoff Returns
Speculation that Gap, Inc. could explore a spinoff of its Athleta brand has returned. Some reports indicate activist investors could push Gap to explore a spinoff to capitalize on Lululemon’s lofty trading value.
EXEC: UBS Expects Up To 50,000 U.S. Store Closures By 2026
In an update to prior research, UBS said it is now projecting between 40,000-to-50,000 retail stores in the U.S. will close over the next five years, down from the 80,000 closures it previously forecasted.
EXEC: Delta Apparel Sees Big Benefit From Fanatics Alliance
Speaking at the Shareholder Equity Conference, Delta Apparel, Inc. officials discussed the strong top-line momentum being seen across its legacy activewear segment, DTG2Go and Salt Life. Bob Humphreys, CEO, also said a new collaboration with DTG2Go may soon make Fanatics, the sports fan e-commerce powerhouse, the company’s largest customer.
EXEC: Escalade Looks To Build On Pandemic-Fueled Gains
“Our mission is connecting family and friends, creating memorable moments and playing life to the fullest,” Walter Glazer, CEO of Escalade said on the sporting goods company’s first-ever quarterly conference call. Sales in the first quarter ended March 21 climbed 22.3 percent year over year and 94.1 percent against the 2020 first quarter.
EXEC: SFIA Sees Fitness, Golf And Camping Get Pandemic Boom
According to SFIA’s 2022 Manufacturers Sales by Category Report, consumer exercise equipment categories saw the biggest revenue gains over the last two years during the pandemic. Golf led the gains among sports equipment categories, followed in the Top 5 by camping, snow sports, tennis, and basketball.
EXEC: ISPO Cites Six Megatrends To Shape Sporting Goods’ Future
ISPO has identified six underlying “megatrends” guiding how individualization, connectivity, urbanization, sustainability, and other trends impacting the sporting goods opportunity are evolving.
EXEC: DSW Parent Discusses Owned-Brand Push At Investor Day
At its Investor Day, Designer Brands Inc., the parent of DSW, unveiled an ambitious plan to double sales of its owned brands by fiscal 2026 while also planning to invest in national brands to elevate the DSW experience.
EXEC: Foot Locker Eyes Growth Opportunities Amid Nike Reset
Speaking at J.P. Morgan’s 8th Annual Retail Round Up Conference, Foot Locker, Inc. officials dug deeper into the fallout expected from having reduced access to Nike product going forward and the growth opportunities created as assortments of non-Nike brands are increased. Foot Locker CEO Dick Johnson said, ”When you’ve got 70-plus percent of your open-to-buy committed to one brand, you narrow the customers coming into your door because that’s what they see, and that’s what they expect.”
EXEC: Beyond Yoga Exceeding Expectations For Levi Strauss
Levi Strauss reported sales at Beyond Yoga surpassed expectations in the first quarter ending February 27 and the brand is making progress in being positioned for accelerated growth. Chip Bergh, Levi’s CEO, said, “We bought it because we believe it has the potential to be much, much bigger.”
