EXEC: Inside the First Quarter Foot Locker Call with Senior Execs
The retailer remains confident they will get more allocation on key Nike product this coming fall and holiday, but is also busy going about the business of doubling Hoka each quarter, expanding Asics fueling New Balance growth and getting on the On brand train for the ride.
EXEC: Birkenstock Holding Raises Full-Year Guidance After Strong Q2 Performance
Fiscal Q2 net revenue amounted to €481 million, an increase of 22 percent (+23 percent CC) year-over-year. Revenue growth reportedly benefitted from increased sales of closed-toe silhouettes, which increased to over 25 percent of total revenue compared to the high teens a year ago.
EXEC: Dick’s SG Leadership Details Q1 Comps, House of Sport, 50K Stores, Q2 View
First-quarter comps were reportedly driven by a 2.7 percent increase in transactions and a 2.6 percent increase in average ticket with strength across footwear, athletic apparel and hardlines. DKS will begin to anniversary the higher shrink rates from 2023 in the second quarter.
EXEC: U.S. Supreme Court Denies Avenatti Appeal to Overturn Nike Fraud Conviction
The Supreme Court rejected Michael Avenatti’s appeal to overturn his conviction for attempting to extort nearly $25 million from Nike and cheating other clients out of millions. He is serving 30 months in a San Pedro, CA, federal corrections facility.
EXEC: The Nidecker Group Acquires Iconic Skate Brands from Sole Technology
The Nidecker Group, the Swiss-based snowboard company, has reportedly inked an agreement with Sole Technology to acquire its legendary portfolio of skate brands, including Etnies, éS, Emerica, and ThirtyTwo.
EXEC: TAF Parent Completes Acquisition of Germany-Based Lloyd Shoes
Arklyz owns The Athlete’s Foot, Asphaltgold, Intersocks, Arkrod, and several global licenses or wholesale distribution for Salomon, Head, Nordica, Mammut, Crocs, Adidas, HeyDude, and others.
EXEC: Kona Founders Talk Return to Brand in Open Letter
The founders wrote in a letter to industry friends that there are still many familiar faces specialty bike retailers should know from “epic dealer launches, My Kona videos and trail days who are dedicated to the cause.”
REI Chicago Union Workers Disrupt Anniversary Sale, Walk Off Job
REI Union Chicago workers walked off the job this on Saturday May 18, during the retailer’s annual Anniversary Sale, demanding the retailer reach a “fair contract” by the end of 2024.
EXEC: Tom Cove to Retire from SFIA Leadership Post in October
Always the gentleman, always understated and always a class act, Tom Cove let slip this week that he will retire from his leadership role at the SFIA, the Sports & Fitness Industry Association, formerly SGMA, in the fall.
EXEC: Is Adidas Killing the Golden Goose?
This week, the headlines in the sneaker world were filled with a billboard proclaiming, “Adidas Plans Cheaper Versions of Popular Shoes Like the Samba” and outrage from sneaker aficionados that the brand would dare step on the toes of its iconic shoe.
EXEC: CEO Kevin Plank Outlines Dramatic Turnaround Plan for Under Armour
With some apparent aggravation on what the brand has become, Plank noted that Under Armour has become a brand that competes primarily on price versus what should be its core competency—performance and technical innovation.
EXEC: Descente Ltd. Fiscal Year Profits Increase in Double Digits on Solid Sales Growth
Net sales for the fiscal year increased 5.3 percent to ¥127.0 billion reportedly due primarily to growth in DTC net sales that expanded the channel composition ratio, sales growth in South Korea, and China’s incorporation of Le Coq Sportif Co., Ltd. into consolidated results from the previous fourth quarter.
EXEC: Industry Organizations Push Back on Biden Administration’s Tariff Decisions
The decision to maintain Section 301 China tariffs and implement new tariffs has U.S. retail and brand companies up in arms over the decision released this week by the Biden administration.
EXEC: Fila Holdings Gets Q1 Lift from Fila USA, Acushnet to Offset Fila Korea Slump
Fila USA revenues saw a bit of a turnaround in the quarter, which covers the U.S., Canada and Mexico, with sales jumping 7.4 percent in US dollar terms to $64.7 million, after falling 46.4 percent in the year-ago Q1 period.
EXEC: On Holding Shares Hit 52-Week Highs as Q1 Results, DTC Gains Please the Street
In comparison to the prior-year period that was elevated as a result of the initial selling into some of our key accounts, net sales in the Americas region grew 22 percent year-over-year with constant-currency growth of 30.4 percent for the quarter.
