EXEC: Footwear Factories See Diverging Trends in June
Yue Yuen’s footwear manufacturing revenue grew 2.9 percent year-over-year in June 2024 while Feng Tay Enterprises reported footwear manufacturing revenues were essentially flat for the month of June, rising just 0.8 percent
EXEC: Hydro Flask Posts Fiscal Q1 Growth Internationally, but U.S. Falls Short of Plan
Helen of Troy’s CEO said Hydro Flask has embraced the shift in the category with new on-trend content that depicts young people in a range of activities extending beyond its traditional positioning. She also called out that Hydro Flask has broadened its presence in premium grocery customers and beyond.
EXEC: Tom Peddie Returns to Nike as VP of Marketplace Partners
Executive search firm MacGregor Black noted the reappointment on Tuesday morning on LinkedIn, saying that the “move comes as the iconic sports brand looks to enhance its relationships with existing retailers such as Foot Locker.”
EXEC: Columbia Sportswear Shares Tick Up on Analyst Upgrade
The last big jump for Columbia came after 2024 first-quarter results surpassed analysts EPS expectations and revenue also came in ahead of consensus estimates. COLM shares jumped 10.6 percent at the time. COLM shares are now flat for the year.
EXEC: New Report Sees E-Commerce Growth Rate Contracting 70 Percent by 2029
According to data presented by Stocklytics.com, the annual growth rate in the e-commerce sector is now expected to slow to just 4.6 percent by 2029, or 69.3 percent lower than the forecasted 2024 growth rate.
EXEC: Vista Outdoor Rejects MNC Final Offer as CSG Ups Ammo Segment Offer to $2.1B
Vista Outdoor Board unanimously recommended the CSG offer to acquire Vista’s Kinetics Group ammo segment, and it unanimously rejected MNC Capital’s final indication as inadequate and opportunistic, particularly in its undervaluation of the Revelyst outdoor products segment.
EXEC: TSG International Inks French Distributor
SDG, based in Soorts-Hossegor, France, is a distributor of bikes, skates scooters and surf gear, representing action sports brands from Paris Trucks to Gibbon Slacklines.
EXEC: Bob’s Stores Commences Going Out of Business Sales
The company said that despite making swift and aggressive changes to its structure and operations, Bob’s Stores was unable to secure the finances needed to maintain operations.
EXEC: Delta Apparel Files for Chapter 11 BK Protection; Names Salt Life Stalking-Horse Bidder
The parent of the Soffe, Salt Life and Delta brands has posted losses for seven straight quarters as elevated inventory levels at the mass channel and related destocking efforts have impacted its Delta Direct vertical blank tee platform.
EXEC: Gym King Founder and CEO Buys Out JD Sports Stake in UK Athleisure Retailer
Founder and CEO Jay Parker, via an entity GKH Ventures Ltd. completed the buyout of JD Sports’ stake in The Gym King (Holdings) Ltd., with Parker regaining 100 percent ownership in the business.
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.
EXEC: Wall Street Debates Shareholder Approval for Vista Outdoor’s CSG Deal
Wall Street analysts appear split on whether Vista Outdoor’s sale of its Kinetic ammunition business to Czechoslovak Group a.s. will now go through after receiving long-awaited regulatory approval or whether a higher bid from MNC Capital for the entire business and a potential DOJ investigation could derail the deal.
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.
