SGB Executive Sports & Fitness
Fitbit Not Too Worried About Apple’s New Smartwatch
At the Deutsche Bank Technology Conference, William Zerella, Fitbit’s CFO, said that while the recent launch of the Apple Watch Series 3 caught some buzz, Fitbit’s first smartwatch, Ionic, is ready to compete in the space.
Nike Faces Downgrades On Growth Concerns
Analysts from Susquehanna Financial Group and Jefferies on Tuesday lowered their earnings guidance and price targets on Nike due to further growth concerns. Susquehanna also lowered its stock rating on Nike.
Wells Fargo Downgrades Under Armour, Cuts Estimates On Athletic Sector
Wells Fargo downgraded Under Armour to “underperform” while lowering its estimates on Under Armour, Nike, Lululemon and Finish Line due to a slowdown in the athletic cycle.
Iconix Touts Its Active Brands Growth Potential
At CL King’s 15th Annual Best Ideas Conference 2017, Dave Jones, EVP and CFO of Iconix Brand Group, said many of the company’s active brands continue to offer the most growth potential for the company. Mossimo, Starter, Ocean Pacific, Umbro, Danskin and Pony were all called out.
Roots To Accelerate Expansion With IPO
Roots, the Canadian lifestyle apparel chain, filed for an initial public offering to accomplish ambitious growth goals in the years ahead, including adding about a dozen new doors in the U.S.
Nike’s Heidi O’Neill Discusses Digital-First Strategy
At Recode’s Code Commerce event in New York City, Heidi O’Neill, Nike’s president of direct-to-consumer business, discussed Nike’s aggressive moves into direct-to-consumer, its decision to sell directly to Amazon and overall digital transformation.
Aisle Talk, Week Of September 11
Top headlines from the active lifestyle industry you may have missed this week.
Fanatics Aiming For $10 Billion In Sales
Expanding internationally and capitalizing on its verticalization capabilities, Fanatics expects to reach over $2 billion in sales in 2017 and sees the long-term opportunity to reach more than $10 billion in sales, Michael Rubin, executive chairman of Fanatics, said Wednesday at Recode’s Code Commerce event.
Deckers Brands Receives Director Nominations From Marcato Capital Management
Deckers Brands confirmed that affiliates of Marcato Capital Management have nominated 10 director candidates to stand for election to the Board of Directors at Deckers’ 2017 Annual Meeting of Stockholders.
Aisle Talk, Week Of September 4
Top headlines from the active lifestyle industry you may have missed this week.
Strong Start For Hero 6 Lifts GoPro’s Q3 Results
Boosted by a strong early response to the launch of the Hero 6, GoPro Inc. hiked its guidance for revenue and gross margin for its third quarter ended September 30.
Under Armour Emphasizing Activation Over Acquisition
At the Goldman Sachs Annual Global Retailing Conference in New York City, Kevin Plank, Under Armour’s CEO, noted that there’s a “much farther difference” between the number two and three playing in the sporting goods industry than three versus four with its two competitors five to seven times larger than Under Armour. As such, Under Armour has to remain smart about its investments to protect its bottom line. Stated Plank, “We have to be the ones who play ‘Moneyball.’”
Gap, Inc. Sees Potential In Athletic Wear Market
As many retailers have done, Gap Inc. plans to focus on its fitness and lifestyle brand, Athleta, which is on track to reach $1 billion in revenue within the next few years.
Dick’s SG Believes Golf And Best Buy Turnarounds Offer Hope For Athletics Recovery
On Tuesday at Goldman Sachs’ 24th Annual Global Retailing conference in New York City, Ed Stack, chairman and CEO of Dick’s Sporting Goods, likened the potential recovery in the athletic space to the recent bounce back in the golf category as well as the surprise turnaround by Best Buy.
Lululemon Q2 Boosted By Online Expansion, To Target Mens
Lululemon’s Q2 benefited from an acceleration of online revenues, improving traffic at its stores, and several product launches. The yoga-themed retailer also revealed plans to introduce its first men’s-focused marketing campaign.
