CFO Jared Poff said that based on what they have seen through the fourth quarter to-date, they do not expect the sales pressures to alleviate as they wrap up the year, especially given the ongoing uncertainty in the macro environment.
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VF, Vista Outdoor, Wolverine Worldwide Top Most-Read SGB Articles for November
November 2023 featured to usual articles for the start of the holiday shopping season and the end of the retail fiscal quarter, but it was a dramatic job cutting announcement from VF Corporation, parent of The North Face, Vans, Timberland, Dickies and Jansport that got the most attention over the 30-day period.
EXEC: Black Friday Weekend Sales See Encouraging Start to Holiday Selling
Led by online selling and boosted by promotions, sales on Black Friday and over the past weekend topped or came in line with modest expectations, according to multiple survey reports and Wall Street analysts.
EXEC: EMS and Bob’s Stores Look to Reignite Growth
In May 2022, GoDigital Media Group acquired Eastern Mountain Sportsand Bob’s Stores for $70 million in cash. SGB Executive talked with Jason Peterson, GoDigital’s CEO, and Dave Barton, president and CEO, Bob’s Stores and EMS, about how the companies is repositioning the banner for growth.
Survey Sees Nike, Jordan, Lululemon Winning Popularity Contest with Gen Y + Z
While upstarts such as Hoka and On are making noise, Cowen’s sixth annual Gen Z and Millennial survey found Nike, Air Jordan and Lululemon hit new all-time highs in brand preference and showed material growth year-over-year in both 18-to-24 and 25–34-year-old cohorts.
EXEC: Report Sees Crocs, Hoka, New Balance, and On Increasing Teen Appeal
Crocs, Hoka, New Balance, and On were among the brands in the active lifestyle space that increased their appeal with teens in Piper Sandler’s 46th Semi-Annual Taking Stock With Teens Survey. Nike dominated teen mindshare in footwear and apparel but lost brand appeal in the performance category, while Adidas, Converse, Under Armour, and Vans ost ground with teens. Lululemon had a mixed performance.
EXEC: UBS Sees Weaker Softgoods Spending Ahead Tied to Student Loan Repayments
UBS, the global financial services firm, reported it expects the consumer spending environment for softgoods in the U.S. to partly deteriorate over the coming months due to the resumption of student loan repayments in October. Inflation concerns and higher interest rates are among other factors expected to impact consumer spending.
EXEC: Nike Retains Top Spot as Most Valuable Global Apparel Brand
Nike ranked as the world’s most valuable apparel brand for the ninth consecutive year, according to Brand Finance’s 2023 Annual Apparel 50 Report. Other brands in the active lifestyle space that made the Top 50 included Adidas, at #5; Lululemon, #16; Puma, #19; Anta, #26; Under Armour, #27; The North Face, #28; Moncler, #29; Skechers, #32; Fila, #34; Li Ning, #42; and New Balance, #50.
OrthoLite Bolsters Sales Team in China
OrthoLite added to its sales management team in China, appointing Chuck Yu as director of sales strategy and John Liu as sales manager.
EXEC: Active Lifestyle Vendors Weather Challenging Second Quarter
Columbia Sportswear, Wolverine Worldwide, VF Corp. and Hanesbrands were among vendors in the active lifestyle space downwardly adjusting their guidance for the year in reporting Q2 results in the face of an increasingly promotional marketplace. However, more vendors than not were able to surprise on the upside.
EXEC: China’s Slowed Recovery Bad Omen for Sports Industry’s Global Players
Hopes by several global players in the active lifestyle space that a strengthening recovery in China would offset weakness in North America this year were dimmed Monday after China’s second-quarter GDP growth arrived below expectations.
EXEC: Active Lifestyle Stocks Show Some Recovery In First Half
On Holding, Adidas, Deckers Outdoor, Amazon, Smith & Wesson and Skechers USA delivered share price gains of more than 30 percent in the first half of 2023 in an overall mixed performance for stocks in the active lifestyle space. Laggards included VF Corp., Hibbett, Under Armour and Foot Locker.
EXEC: Academy Sports Bets On Revenue Bounce Back In Second Half
Academy Sports and Outdoors, Inc. trimmed its outlook for the year as first-quarter results missed plan. However, company officials predicted improving sales in the back half of the year on confidence that more favorable weather and strong injections of newness will help offset macroeconomic pressures.
Coresight Research: Nike Tops Apparel/Footwear Sellers On Amazon
Nike bounced back substantially to regain its position as the most popular apparel and footwear brand selling on Amazon, overtaking the e-tailer’s private label range after two years, according to Coresight Research’s sixth annual Amazon Apparel U.S. Consumer Survey.
EXEC Q&A: Jim Duffy, Managing Director, Consumer And Retail, Stifel Financial Corp.
SGB Executive talked to Jim Duffy, veteran sell-side industry analyst at Stifel Financial Corp., about the headwinds and tailwinds facing the active lifestyle space, his favorite stocks, the DTC trend, his affinity for covering the active lifestyle space, and the company’s sponsorship of the U.S. ski team.
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