SGB Executive Sports & Fitness
The work put in at Globe over the last year looks like a microcosm of the work ahead for much larger active lifestyle entities like VF Corporation and Wolverine Worldwide. Globe is proving it works.
Fiscal 2024 revenue is expected in the range of $1.7 billion to $1.75 billion, roughly a 5.5 percent decline at the mid-point versus the 2023 revenues. Gross margins are expected to reach 45.5 percent of sales, a record high, and EPS is forecast to improve 5X at the mid-point.
The January decline at the bike manufacturer represents the third straight month of moderating declines and the smallest decline since June 2023
KMD Brands Limited, the parent company of Kathmandu, Oboz and Rip Curl, reported a preliminary update of its results for the 2024 fiscal first half ended January 31.
As part of its broad restructuring program first announced in December, Nike is set to cut about 2 percent of its total workforce to lower expenses as demand for the brand comes under pressure.
BasicNet S.p.A., the parent of the Sebago, Superga, Briko, Kappa, K-Way, Jesus Jeans, and Sabelt brands, reported aggregate sales of Group brands products declined 10.4 percent to €1.14 billion. The Americas region fell 35 percent.
Yue Yuen Industrial reported that its footwear manufacturing segment revenue posted 12.5 percent growth in January 2024, a big turnaround from the 18.4 percent decline in its footwear manufacturing segment for full year 2023.
Canadian Tire’s SportChek segment, which includes the SportChek, Sports Experts, Atmosphere, Pro Hockey Life, Sports Rousseau, and Hockey Experts retail brands, saw comparable sales in the fourth quarter decline 6.4 percent.
California-based Liberated said this week it deployed an initial assessment of its Spyder products resulting in a multiple-season plan to phase out PFAS from its branded skiwear, joining other brands making the hard choice in 2024.
Fiscal full-year 2023 net sales decreased 24.6 percent from the prior year to ¥474.36 billion. Operating income decreased 50.5 percent to ¥83.65 billion, and net income attributable to owners of the parent company decreased 52.3 percent to ¥61.14 billion.
Brooks DTC e-commerce channels reportedly grew 24 percent in global revenue YoY, including record-breaking sales from Thanksgiving through Cyber Monday, up 22 percent in North America versus 2022. China DTC jumped 194 percent for the year.
After a month of speculation, on Monday, Tiger Woods and Taylormade Golf introduced the golf legend’s new brand and line of clothing, accessories and footwear. Brad Blankenship, the former global GM for Quiksilver and RVCA, will lead the brand.
Realty Income Corporation has entered into a sale-leaseback transaction for 82 retail properties leased to affiliates of Decathlon SE. The portfolio includes properties located in Germany, France, Spain, Italy, and Portugal.
North America region net sales increased 8.8 percent to ¥114.62 billion due to the strong sales of the Performance Running and Core Performance Sports categories. Segment income increased significantly to ¥1.44 billion. North America sales to decline 3 percent in 2024.
UA now expects revenue in North America to be down at a high-single-digit rate versus the previous expectation of a 5 to 7 percent decline, and turning to the International business that is now seen to be down at a high-single-digit rate versus the previous low-double-digit rate increase.