New Balance Hits $6.5 Billion in 2023; Nearly Doubles Sales Since 2020
The company delivered double-digit record growth in every global market in 2023, reaching $6.5 billion in annual sales, a 23 percent increase from 2022.
EXEC: S&P Issues Damning Report on the Health of TNF and Vans Parent
S&P Credit Rating analysts lowered their forecast for VF and now believe the company will have to sell “sizeable brands” to meaningfully reduce leverage in the near term.
Veldskoen Shoes Founders Re-Acquire Brand from Mark Cuban, Ashton Kutcher
Veldskoen Shoes opened a U.S. headquarters in Atlanta to expand the business stateside. The initiative comes after the founding families re-acquired the brand in late 2023.
Skechers Partners with Vexx on Limited-Edition Collection
Known to the world as Vexx, Vince Okerman’s “doodles” take their inspiration from various sources, including the legendary American artist Keith Haring.
EXEC: Saucony to See Big Decline in 2024 Before Recovery
The fourth quarter was tough for Saucony as sales fell 13.4 percent (-13.7 constant-currency) to $105.1 million, from $121.3 million in the prior-year corresponding quarter.
Idea Ranch Promotes Three Employees to Account Supervisors
Idea Ranch, the advertising, PR and consumer insights company serving the outdoor industry, promoted Kevin Waggoner, Dillon Jones and Katie Murphy to Account Supervisors.
EXEC: Globe Int’l Swings to H1 Profit on Margin Gains, Cost Cuts
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.
On Expanding Global Retail Presence; to Open Portland, OR Store
The Swiss performance sportswear brand, will open its newest U.S. store in Portland, OR, on February 24 in an area of town vibrant with shops and restaurants and one mile from its Americas HQ.
Play It Again Parent Sees Growth Moderate in 2023 Second Half
Parent company of the Play It Again Sports franchisor and other retail resale banners, reported revenues for the year ended December 30, 2023 were $83.2 million, up from $81.4 million in 2022.
EXEC: Inside the Wolverine Worldwide C-Suite – Assessing the Year Ahead
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.
Wolverine Improves Margins in Tough Q4; Sees Double-Digit Decline for 2024
Fourth quarter revenue from the ongoing business was $521.2 million and declined 18.4 percent on a constant-currency basis, with all segments and brands posting declines.
EXEC: Havaianas Parent Ends 2023 on Low Note; Works to Conserve Cash
Havaianas revenues for the fourth quarter declined 8.7 percent year-over-year (YoY) to R$991.8 million. International revenues were down 48.9 percent to R$96.6 million in the period.
Camping World Chair and CEO Named Executive Chair at Beyond, Inc.
Marcus Lemonis has been a director of Beyond since October 2023 and the chairman of its Board since December 2023. As executive chairman, he will work closely with the management team to lead and execute Beyond’s strategic priorities.
Shaq and Reebok Collab with Pepsi, Debut The Pepsi Sneak’er
Pepsi collaborated again with Shaq, president of Basketball at Reebok, on the Pepsi ‘Sneak’er, a custom-built Reebok Pump Shaq Attaq that holds a mini can of Pepsi in the sole courtesy of the Shoe Surgeon.
EXEC: January Footwear Manufacturing Revenues Jump at Feng Tay
Analysts have noted in reports that the market should not get too excited with the revenue decline in January 2023 or the increase in 2024 in China, Taiwan or Vietnam due to the shifting dates for Chinese New Year.
