Analyst: Lululemon Likely to Outpace Estimates and Guidance in Q4
William Blair analyst Sharon Zackfia believes Lululemon will outpace its own guidance for the fiscal fourth-quarter, with unseasonably mild weather helping boost holiday foot traffic to push revenue growth above the company’s guidance between 13 percent and 14 percent.
2023 Year in Review: Active Lifestyle M&A Activity Slows—Part II
Fewer major deals were executed across the active lifestyle space in 2023 amid rising interest rates and persistent economic uncertainty but several tuck-ins and smaller to medium-size acquisitions were inked. Still, SGB Media found a few key trends expected to continue into 2024.
SGB 2023 Year In Review: Active Lifestyle M&A Activity Slows—Part I
Fewer major deals were executed across the active lifestyle space in 2023 amid rising interest rates and persistent economic uncertainty but several tuck-ins and smaller to medium-size acquisitions were inked. Still, SGB Media found a few key trends expected to continue into 2024.
Puma to Release Puma Fit Collection on January 1
Puma Fit collection, rooted in sport, combines technology and innovation with dynamic design principles for all workouts. Completing the collection is the redesigned PwrFrame TR3 training shoe.
Jordan Brand To Release Jayson Tatum Second Signature Shoe
“This second shoe represents evolution and how much I’ve grown as a player. I’m always building on my skills so I can be better than who I was yesterday. I hope consumers appreciate how much we put into this one.” —Jayson Tatum
SGB 2023 Year In Review: Executive Shuffle
New CEOs at Academy Sports, Adidas, Asics, Gap, Kohl’s, Levi’s, Sportsman’s Warehouse, VF Corp., Vista Outdoor, and Wolverine Worldwide headlined the C-suite moves that transformed leadership across the active lifestyle space in 2023.
Nikola Jokić Inks Signature Shoe Deal with 361° Footwear Brand
Jokić will debut his first signature performance basketball shoe with 361° shortly. Until then, he will wear the Big 3 Future High on-court, the latest performance basketball shoe from 361°.
In Memorium: Remembering the Active Lifestyle Leaders Lost In 2023
As the year closes, SGB Media remembers the active lifestyle industry business leaders who passed in 2023 and once again acknowledges their contributions to the market.
Report: Merchandise Returns Reach 14.5 Percent in 2023
According to the report released by the National Retail Federation and Appriss Retail, for every $1 billion in sales, the average retailer reportedly incurs $145 million in merchandise returns. Online sales do see a higher return rate, at 17.6 percent.
Report: U.S. Holiday Season Retail Sales at Low End of Forecast
U.S. retail sales, excluding automotive, increased 3.1 percent year-over-year this holiday season, according to a report from Mastercard SpendingPulse measuring the period from November 1 through December 24.
Happy Holidays From SGB Media
In observance of the Christmas holiday, SGB Media is taking time to be with family and will not publish the SGB Updates on December 25. Publishing will resume on December 26 with one Update newsletter daily through December 29.
EXEC: Nike’s Reduced Outlook, Planned Cuts and Market View Takes Broader Market Down
Nike, Inc. announced a broad restructuring program while slashing revenue guidance for its fiscal year amid softening online sales, promotional pressures and heightened macro headwinds, particularly in China and the EMEA. For its fiscal year ended May 31, 2024, sales are now projected to increase only 1 percent against a prior outlook of up mid-single-digits.
Nike to Undergo Layoffs, Cost-Cutting Amid Weakening Sales Outlook
Nike, Inc. reported earnings in its fiscal second quarter ended November 30 topped analyst expectations but also announced a program to cut costs by about $2 billion over the next three years, including through layoffs, as it sees a “softer” sales outlook for its fiscal second half.
Nordstrom Rack To Add Another Houston Location in Fall 2024
The store will occupy 34,000 square feet in the Meyerland Plaza, among Texas’s Top 5 most visited open-air shopping centers. The retailer operates eight Nordstrom stores and 23 Nordstrom Rack stores in the state.
Jason Mayden Returns to Jordan Brand as Chief Design Officer
Jason Mayden, recently president of Fear of God Athletics, is returning to Nike as senior global design director of Jordan Brand.
