SGB Update Footwear
Exhibitors Threaten To Boycott Outdoor Retailer Show If It Returns To Utah
A conservation group and two dozen outdoor recreation companies, including Patagonia, REI and The North Face, announced Monday that they would boycott the Outdoor Retailer trade show if it moved from Denver, CO back to Salt Lake City, UT. The group accused Utah’s leaders of trying to remove protections for national monuments and public lands.
Asics North America Notches First Annual Profit Since 2017
Asics North America (ANA) announced that it generated the region’s first operating profit in 2021 since 2017. ANA, which includes the United States, Canada and Mexico, also showed a near double-digit quarterly increase year-over-year in the fourth quarter, marking its fourth consecutive quarter of growth.
Scheels Debuts Its First Super Bowl Commercial
During last night’s Superbowl, Scheels debuted its first television ad with a 30-second spot that aired in all Scheel’s markets, and a longer 90-second spot is now showing on its website.
URBN Appoints New CEO Of Urban Outfitters Chain And Free People Group
Urban Outfitters, Inc. appointed Francis Pierrel as global chief executive officer of Urban Outfitters and the Free People Group. The company also reported fourth-quarter sales grew 14 percent.
The Athlete’s Foot Reports Record Sales For 2021
Following the acquisition by the Arklyz Group, The Athlete’s Foot (TAF), reported record sales of $503 million with 24 percent retail sales growth in 2021.
Under Armour’s Q4 Tops Guidance, Warns Of Supply Chain Challenges
Under Armour Inc. reported fourth-quarter earnings and sales exceeded Wall Street targets. Sales guidance was also raised for the current quarter but margins are expected to be impacted by lingering supply chain constraints.
The North Face Leases Office, Showroom Space In Seattle
The North Face has signed a lease for 6,414 square feet of office and showroom space at the newly-constructed Fremont Crossing Building project in Seattle, WA according to Pastakia + Associates, a Seattle-based development firm.
Callaway Golf’s Q4 Tops Expectations On Topgolf Recovery
Callaway Golf Company reported a loss in the fourth quarter ended December 31 but results exceeded Wall Street’s targets due to a continuing recovery at Topgolf and ongoing momentum at its apparel and golf equipment businesses. Sales surged 89.9 percent in the period. Callaway predicted sales would expand 21 percent in 2022.
Kohl’s Responds To Director Nominations From Macellum Advisors
Kohl’s Corp. responded to the nomination of ten directors for election to the retailers’ Board of Directors by Activist investor group Macellum Advisors by noting that its Board now includes three independent directors that joined as part of a settlement with Macellum and other shareholders in April 2021.
Asics’ Revenues Climb 23 Percent In 2021
Asics reported that despite the effects of COVID-19, net sales increased 22.9 percent in its year ended December 31 due to strong sales in all regions, mainly driven by the Performance Running category and the Core Performance Sports category. The biggest regional gains were seen in North America, up 31.8 percent; and Greater China, 27.9 percent.
Activist Investors Nominates 10 Candidates For Kohl’s Board
Activist investor group Macellum Advisors GP LLC has named the slate of 10 board members that it will nominate at Kohl’s Corp.’s next investor day, scheduled for March 7.
Canada Goose Lowers Guidance On Q3 Miss
Canada Goose Holdings Inc. reported earnings rose 49.2 percent in the third quarter ended January 2 as sales grew 26.2 percent. However, results were slightly below Wall Street’s targets and guidance was lowered for the year due to lower than expected revenue and retail traffic in APAC and EMEA in the current quarter, alongside new variant outbreaks and restrictions.
Academy Sports’ Debt Ratings Upgraded
S&P Global Ratings upgraded its debt ratings on Academy Sports + Outdoors, Inc. as the sporting goods chain “continues to post strong gains in sales and EBITDA resulting in better leverage.”
Amer Sports’ Debt Upgraded On Faster-Than-Expected Deleveraging
S&P Global Ratings raised its debt ratings on Amer Sports on its expectations that the sporting goods giant would report a “resilient” operating performance in 2021 with estimated €2.5 billion revenue, up 7 percent to 8 percent above pre-pandemic levels.
PVH Corp. Appoints CFO
PVH Corp. announced the appointment of Zac Coughlin as executive vice president and chief financial officer effective April 4, 2022. Coughlin joins PVH from DFS Group Limited, a subsidiary of LVMH Group.
