EXEC: Hoka Drives Deckers Brands’ Fiscal Q2 Growth; Prompts Guidance Bump
DECK now expects Hoka to increase approximately 24 percent year over year, reflecting the continued strength of global demand. Ugg is still expected to grow mid-single digits, and diluted earnings per share expectations range from $5.15 to $5.25 for the year.
Skechers U.S.A. Posts Double-Digit Q3 Sales Growth with Strength Across Channels
Third quarter sales increased 15.9 percent to $2.35 billion, with a 16.4 percent increase internationally and a 15.3 percent increase domestically. On a constant-currency basis, sales increased 15.9 percent year-over-year (y/y).
Columbia Brand Appoints Marketing Chief; Launches New Brand Vision
Matt Sutton, as senior vice president and head of marketing for the Columbia brand, was hired as the Columbia Brand has reportedly worked to bring a new strategic vision to life internally over the last few months.
EXEC: Saucony Brand’s Q3 China Retail Sell-Through Growth Exceeds 50 Percent
The core Xtep Brand posted a mid-single-digit year-over-year growth for the offline and online channels in China, with a discount of ~25 percent for the three months ended September 30.
Craft Sportswear to Open Pop-Up in SoHo During NYC Marathon
The retail space will serve as Craft’s “basecamp” during the New York City Marathon (November 3, 2024), where it will host events and feature the Kype Pro, the brand’s latest shoe designed for elite runners.
Ken Hicks Takes the Reins at PetSmart LLC
The former Foot Locker, Inc., Academy Sports + Outdoor, Inc. and JC Penney Chief Executive has been named President and CEO, effective October 31. Hicks will also serve on the company’s Board of Directors.
EXEC: Birkenstock Takes Over Direct Distribution in South Korea
The company will capitalize on the South Korean consumer’s buying potential selling DTC through its online shop. In spring 2025, it will open its own stores and expand with selected department stores.
EXEC: Hoka & Ugg Parent Gets October Surprise Downgrade; Others Say Not So Fast
BTIG Analyst Janine Stichter and her team cited concerns over slowing growth trends in the company’s Hoka and Ugg businesses. Williams Trading Analyst Sam Poser started his recent Deckers Brands note with, “Buy DECK.”
Ortholite Hires VP of Operational Excellence
With over two decades of experience in footwear and manufacturing, Raj Santhana, most recently, worked at Bata as the global head of Quality in Singapore.
EXEC: Li Ning Posts Mid-Single-Digit Retail Sales Decline in Third Quarter
The offline channel, including retail and wholesale, posted a high-single-digit decline for the quarter, while the company’s e-commerce virtual stores business registered mid-single-digit growth for the period.
Crocs Unleashes Crocs for Dogs in Partnership with Bark
Pet Crocs come in small, medium and large and are made from breathable EVA foam. They feature an adjustable strap for added support, a grippy tread bottom and ventilation holes on top.
EXEC: Li Ning Forms Joint Venture to Manage Brand Outside of Mainland China
The joint venture (JV) will develop and operate the Li Ning Brand business outside of Mainland China, principally in an area that includes Hong Kong, Macau Special Administrative Region and Taiwan, on an exclusive basis.
NRF Expects 2024 Holiday Spending to Reach New Record
Consumer spending on the winter holidays is expected to reach a record $902 per person on average across gifts, food, decorations, and other seasonal items, according to the NRF’s latest consumer survey conducted by Prosper Insights & Analytics.
3D FitTech is Changing the Ski Boot Fitting Game
The Albert 2 Pro, Aetrex’s premier scanner, captures 16 complete 3D foot measurements, including length, width, girth, instep height, arch height, and pressure data underfoot, in 20 seconds or less.
EXEC: VF Corp Placed on Negative Catalyst Watch Due to TNF, Vans Pressures
JP Morgan trimmed its earnings estimates for VF Corp and placed the stock on “Negative Catalyst Watch” on concerns over ongoing wholesale pressures facing The North Face, Vans and TNF both fighting softer DTC traffic, and elevated inventory levels impact on margins.
