Vans, The North Face Fuel VF Corp.’s Sizzling First Quarter
Continued strength in VF Corp.’s biggest brands—Vans, The North Face and, to a lesser extent, Timberland—along with balanced geographic and channel sales, helped the company deliver a standout first quarter with earnings well above Wall Street’s expectations.
Aisle Talk Week of July 16
Top headlines from the active lifestyle industry you may have missed this week, including Boa Technology Inc. opening the company’s new environmentally friendly headquarters in Denver, CO.
Skechers Shares Tumble On Q2 Miss And Poor Outlook
Skechers USA’s shares fell $6.95, or 20.9 percent, to $26.30 on Friday after the company reported second-quarter earnings that fell well short of guidance and provided a soft outlook for the third quarter. Investors were reportedly frustrated that Skechers’ focus on funding long-term expansion efforts is coming at the expense near-term earnings improvement.
VF Corp Lifts FY Outlook After Robust Q1 Results
VF Corp. reported earnings 62 percent on an adjusted basis in the first quarter ended June 30, to 43 cents a share, well above Wall Street’s consensus estimate of 33 cents. Sales grew 23 percent on a reported basis and were up 21 percent in constant dollars Currency-neutral sales jumped 32 percent at Vans and 5 percent at The North Face.
L.L.Bean Celebrates Grand Opening In New Haven
L.L.Bean announced the grand opening of the company’s newest retail store at The Shops at Yale in the Broadway District of New Haven.
Skechers Q2 Earnings Slump 24 Percent
Skechers USA Inc. reported earnings sunk 23.9 percent in the second quarter ended June 30, to $45.3 million, or 29 cents a share, falling short of the company’s guidance. Sales rose 10.6 percent to $1.13 billion.
Sports Direct Burned By Outside Investments
While underlying earnings are benefiting from its “Elevation” efforts to upgrade its stores, Sports Direct reported that its U.S. business, consisting of Bob’s Stores and Eastern Mountain Sports, showed loss in its fiscal year ended April 29 and a number of other investments aren’t paying off.
Adidas Downgraded On Heightened Competition
Wells Fargo Securities downgraded shares of Adidas due to renewed growth in North America at Nike, continuing explosive growth at Vans and some lackluster results from the launch of new Adidas platforms.
La Sportiva Appoints Director Of Sales
La Sportiva announced the hiring of Wes Green as director of sales. Replacing long time sales leader Mark Day, who has retired, Green joins the brand from Big Agnes.
Hoka, Sanuk And Teva Announce Partnership With Camber Outdoors
Hoka One One, Sanuk and Teva , divisions of Deckers Brands, announced they recently joined Camber Outdoors as corporate partners.
Allbirds Appoints Erick Haskell President Of International
Allbirds, the San Francisco-based shoe brand focused on sustainable materials, announced that Erick Haskell has joined as president of international. He was managing director of Asia Pacific at Under Armour.
EMS/Bob’s Logs Loss For Sports Direct In Fiscal 2018
Sports Direct Inc. said Bob’s Stores and Eastern Mountain Sports, acquired in bankruptcy proceedings in May 2017, showed £9.2 million ($11.9 mm) in trading losses in the company’s fiscal year ended April 29.
Amazon Prime Day 2018 Manages Another Record
Amazon said that sales across its Prime Day event surpassed Cyber Monday, Black Friday and the previous Prime Day, when comparing 36-hour periods, making this once again the biggest shopping event in Amazon history.
Wolverine World Wide’s Debt Ratings Upgraded
“The upgrade reflects our expectation for continued improvement in operating performance and credit metrics over the next 12-18 months,” said Moody’s Lead Apparel Analyst Mike Zuccaro.
Dwyane Wade Signs ‘Lifetime’ Deal With Li-Ning
Dwyane Wade has signed a lifetime deal with the Chinese sports brand Li-Ning according to the Associated Press.
