EXEC: Adidas Settles with Kanye, But Yeezy Hangover Still a Drag on Strong Third Quarter
EXEC: Crocs Inc. Shares Dive Over HeyDude Brand Struggles, Crocs Brand Softens
EXEC: Hoka Drives Deckers Brands’ Fiscal Q2 Growth; Prompts Guidance Bump
EXEC: Saucony Brand’s Q3 China Retail Sell-Through Growth Exceeds 50 Percent
EXEC: VF Corp Placed on Negative Catalyst Watch Due to TNF, Vans Pressures
SGB Update
VF Corp. Sets Medium-Term Targets to Increase Cash Flow and Profitability
V.F. Corp. issued medium-term financial targets and key pillars of its enterprise strategy ahead of the company’s Investor Day on Wednesday, including achieving an adjusted operating margin of at least 10 percent.
Hilco Global and TPG Angelo Gordon Partner with Bluestar Alliance on JV
Hilco Global and TPG Angelo Gordon announced the formation of a new joint venture that will identify, acquire and finance consumer brands and IPs in partnership with Bluestar Alliance, LLC, the parent of Hurley, Justice, Scotch & Soda, and other consumer brands.
Outdoor Retailer Parent Trims Full-Year Guidance
Emerald Holding, Inc. slightly reduced its outlook from steps taken to discontinue some of its smaller events. The operator of Outdoor Retailer, Surf Expo, Sports Licensing & Tailgate Show, and other venues also reported improved underlying earnings in the third quarter on flat sales.
Adidas’ Long-Time Chief Corporate Communication Officer to Retire
Jan Runau, Adidas’ chief corporate communication officer since 2006, announced his retirement. He began working for Adidas as a PR manager in Germany
Wolverine Worldwide Appoints Susie Kuhn as Active Group President
Susie Kuhn will be responsible for leading successful brand strategies, executing consumer-focused go-to-market plans, and driving commercial performance for Wolverine Worldwide’s Active Group, which includes the Merrell, Saucony, and Chaco brands.
SGB Executive
EXEC: Big 5 Sees Improving Sales Trends Leading into Holiday Season
The retailer saw the Apparel and Footwear categories each down ~9 percent and Hardgoods was down ~6 percent in Q3 but a number of product categories are contributing to the improvements in sales trending, including the early rates in fall and winter apparel.
Brooks Running Reaches $1 Billion Milestone in Nine-Month YTD Period
The gains in the third quarter were said to be boosted by a 10 percent year-over-year increase in North America, led by 16 percent e-commerce growth. Revenues grew 10 percent in the EMEA region, reportedly fueled by 24 percent e-commerce sales growth.
EXEC: Adidas Settles with Kanye, But Yeezy Hangover Still a Drag on Strong Third Quarter
With this settlement, Adidas unwound a €100 million provision related to outstanding legal issues over the Yeezy break-up and now plans to also donate that sum to charities. Including the €100 million, total funds earmarked for charity related to the Yeezy inventory sell-off now stand at about €250 million.
EXEC: VF Corp. CEO Sees Recovery Gaining Traction at TNF and Vans Parent
On VF’s quarterly analyst call, Bracken Darrell, CEO and president, said the second quarter delivered “another quarter of really good progress,” marking the third straight quarter of sequential top-line improvement in the decline rate and witnessing moderating sales declines at its two most challenged areas: Vans and the Americas region.
EXEC: Crocs Inc. Shares Dive Over HeyDude Brand Struggles, Crocs Brand Softens
Crocs shares fell $26.50, or 19.2 percent, to $111.58 per share Tuesday after the footwear company reported third-quarter results topped analyst estimates but tempered its full-year sales guidance as the turnaround at HeyDude falls behind schedule.
