SGB Executive Sports & Fitness
EXEC: Under Armour to Return to Macy’s Locations
Macy’s reported that select Under Armour men’s product will be available in 150 stores and online, beginning in February 2024, building on the return of Nike apparel to the department store operator.
EXEC: Xtep Intl Posts Double-Digit H1 Increase Despite Slowing China Growth
The company, which operates retail stores in China for K-Swiss, Palladium, Merrell, and Saucony, in addition to Xtep brand stores, reported that retail sell-through growth in the first half increased nearly 15 percent.
EXEC: Dick’s CEO Talks Q2 EPS Miss, Inventory Woes, Retail Theft and Staff Cuts
Shares of Dick’s shaved about a quarter of their value on Tuesday after America’s largest sporting goods chain reported a second-quarter profit shortfall and slashed its earning guidance for the year due to promotions required to clear inventories, particularly in the outdoor category, and higher-than-expected shrink.
EXEC: Parent of Craft, Cutter & Buck and Tenson AB Sees Q2 Profit Dip as Sales Grow
Based in Kungälv, Sweden, New Wave Group owns a number of apparel brands, including Craft, Cutter & Buck, Ahead, Orrefors and Kosta Boda and recently acquired the Swedish outdoor and lifestyle company Tenson AB.
EXEC: Active Lifestyle Vendors Weather Challenging Second Quarter
Columbia Sportswear, Wolverine Worldwide, VF Corp. and Hanesbrands were among vendors in the active lifestyle space downwardly adjusting their guidance for the year in reporting Q2 results in the face of an increasingly promotional marketplace. However, more vendors than not were able to surprise on the upside.
EXEC: Vipshop Sees Q2 Earnings Jump as Key Site Metrics Point Higher
The online discount retailer for brands in China, including many U.S. active lifestyle brands, reported total net revenues for Q2 increased 13.6 percent year-over-year to RMB27.9 billion (US$3.8 billion).
EXEC: Super Retail Group Posts Solid Year But H2 Trends Cut Into H1 Gains
Sales for fiscal 2023 rose 7 percent to A$3.80 billion. Adjusted for the 53rd week in fiscal 2022, sales were up 9 percent for the year. Comp-store sales were up 8 percent for the 12-month period ended June 30.
EXEC: Walmart’s Robust Q2 Delivers Upbeat Signal for Retail’s Recovery
Walmart, Inc. lifted its outlook for the year after reporting second-quarter results that handily topped guidance due to strength in the grocery but also a better-than-expected performance in general merchandise. The strong results were a relief for the retail sector following sluggish sales reports from Target and Home Depot although Walmart’s CEO Doug McMillon told analysts household budgets remain under pressure.
EXEC: Sacks Parente Golf Undergoes IPO
Sacks Parente Golf, Inc., a maker of including putting instruments, golf shafts, golf grips, and other golf-related products, raised $12.8 million through the sale of 3.2 million shares in an initial public offering.
BofA Upgrades Adidas To Buy, Lifts Price Targets for Dick’s and Academy
Bank of America Corp. (BOFA) upgraded Adidas to “Buy” due to its progress in improving margins while lifting its price target on Dick’s Sporting Goods and Academy Sports on improving sales trends.
EXEC: 361 Degrees Gets Lift from Kids in H1 Growth
The 361° Kids business, a major initiative for the company in China, grew 33.4 percent year-over-year and now accounted for approximately 21.1 percent of the Group’s total H1 revenue.
EXEC: Pou Sheng is Latest Chinese Retailer to Boast Growth on China Re-Opening
The retail subsidiary of footwear manufacturing powerhouse Yue Yuen International, said it saw decent recovery momentum with increased foot traffic to its brick-and-mortar channels and improved purchasing intent following the lifting of all control measures in mainland China.
EXEC: On Continues to Gobble Up Share in U.S. Run Specialty
On Holdings once again raised its sales guidance for the year after reporting second-quarter results that topped analyst targets. In the Americas, sales vaulted 59.8 percent in the period, driven by strong full-price selling and share gains within the run specialty channel.
EXEC: Descente Ltd. Gets Lift from China Re-Opening in Fiscal Q1
Japan and South Korea reportedly “progressed as expected,” and China’s performance expanded significantly due to “revenge consumption” following the re-opening in January.
EXEC: Analysts Offer Mixed Feedback on July Retail Sales Increase
Retail sales reversed their downward trend in July as Amazon Prime Day and major promotions prompted increased shopping while wage increases gave consumers more money to spend, but an increase in the July inflation numbers and a year-ago July decline could also be at the core of the increase, according to analysts.
