EXEC: Wall Street Analysts Downgrade Nike as Competitors Gain Heat
Nike’s move to slash its sales forecast for the year ahead resulted in downgrades from UBS, Stifel, JPMorgan, and Morgan Stanley. Some analysts cited opportunities for Adidas, Lululemon, Hoka, On, and other competitors to gain shelf space as Nike’s overreliance on lifestyle offerings and innovation struggles continue.
EXEC: Assessing the Financial Impact of the OIA and Outdoor Retailer Break Up
The separation, or divorce, was always expected to be a tough move for OIA to absorb, as the loss of royalties from the OR show would cut millions from the trade association’s budget each year. But a funny thing happened on the way to this eventual agreement, OIA shifted its reliance on trade show royalties.
EXEC: Nike Shares Plunge on Surprise Sales Warning for Fiscal 2025
Shares of Nike Inc. closed down 20 percent on Friday, June 28, after the company revised its sales forecast to be down in mid-single digits for its fiscal year ended May 31, 2025, including a high-single-digit drop in the first half.
REI Co-op Taps Under Armour, Target Vet as VP of Human Resources
Mike Cannata was, most recently, vice president of human resources at Under Armour. Before UA, he worked for over a decade at Target, progressing from a store management through human resources leadership.
Nike Inc. Beats Q4 EPS Estimates But Warns of Fiscal 2025 Guidance Cut
Nike Inc. reported earnings in the fiscal fourth quartar ended May 31 exceeded analysts’ consensus targets by 17 cents but also warned that it would downwardly adjust its guidance for the coming year due to continued “challenges” in the marketplace.
Birkenstock Announces Pricing of Secondary Offering
Birkenstock Holding plc announced the pricing of an underwritten secondary public offering of 14 million of its ordinary shares by L Catterton, its majority shareholder, at a price to the public of $54.00 per share.
Report: Shein Filed for London Listing in Early June After U.S. Snub
The filing, which would initiate the process for a listing on the London Stock Exchange, comes after the company explored a listing on the Exchange early this year after lawmakers opposed a U.S. listing, Reuters reported in May, citing sources.
REI Adds Two Board Members
Patricia Lopez, a former executive in the beauty industry, and Doug Mack, former CEO of Fanatics, were elected to the company’s board of directors in May.
WHO Report: Global Levels of Physical Inactivity Among Adults Continues to Rise
In the World Health Organization’s recently published study, physical inactivity is a silent threat to global health, contributing significantly to the burden of chronic diseases, with physical inactivity still more common among women globally than men.
Omni Retail Enterprises Names CEO
Former Vitamin Shoppe CEO and Pier 1 Imports exec, Sharon M. Leite, will lead the revitalization of Omni’s retail, educational and health & wellness brands.
Levi Strauss’ Q2 Profits Top Expectations, Boosted by Americas Strength
Levi Strauss & Co. reported a strong earnings uptick in the fiscal second quarter ended May 26 as sales grew 8 percent with double-digit growth in the Americas. Beyond Yoga’s sales grew 13 percent.
Hibbett Expands Omnichannel Fulfillment Capabilities
Expanding its omnichannel fulfillment capabilities will offer Hibbett and City Gear customers more convenience when shopping with the retailer.
Chief Omni and Innovation Officer at Tapestry Joins ThredUp’s Board
Noam Paransky, a retail and tech executive, brings 25-plus years of experience to ThredUp’s Board of Directors to enhance the secondhand shopping experience.
For Bare Feet and Pro Compression Parent Names CEO for Sock Companies
For Bare Feet, LLC and its owner Taglich Private Equity, LLC have appointed Justin Fredericks as the CEO, effective immediately. Fredericks will also serve as CEO of Pro Compression, another brand in the Taglich Private Equity portfolio.
EXEC: Adidas Bribery Investigation Claims First Two China Employees
Adidas reported on June 26 that two Chinese employees had left the company as the German sportswear giant investigates bribery allegations in China.
