Footwear Insight Extra
Allbirds Files for IPO
The San Francisco parent of Allbirds, the six-year-old, global lifestyle brand filed its initial S-1 for a public offering of stock yesterday. After reporting a net loss of $25.9 million on nearly $219.3 million in revenues in FY20, Allbirds had a 27 percent increase in H1/21 revenues...
Athletic and Digital Surge in Q2 for DSW
Designer Brands reported that DSW’s year-over-year athletic comps increased 90 percent in the period to generate 23 percent of the banner’s quarterly revenues, up from 17 percent in Q2/19. The gains were made amidst a 10 percent drop in store traffic and a 21 percent increase in digital orders.
H2 Supply Chain Issues Could Derail Hibbett Sports’ Momentum
The retail operator of City Gear and Hibbett Sports’ banners faces H2 headwinds that may negatively impact its comp sales growth and gross margins for the period. Second half gross margins are forecast to dip from their H1/22 level due to likely higher freight and...
Dick’s SG Will Do Whatever It Takes to Deliver for Holiday Season
Seeing its best all-around momentum in years but also dealing with uncertainty over key product deliveries for late 2021 and early 2022, Dick’s Sporting Goods appears prepared to do whatever it takes to keep its operation humming into next year.
Shoe Carnival Posts Record Q2 Sales
The 378-door Shoe Carnival chain, which has posted $1.16 billion in sales over the trailing 12 months and is on track to approach $300 in sales per square foot this year (up from previous high of $245 in FY19), says it can sustain operating margins of at least 8 percent over the long-term.
In The News: Hoka One One, Ara, Grassroots Outdoor Alliance
Hoka One One is venturing into retail. The Deckers-owned brand is offering a glimpse of what Hoka brand stores could look like with two newly opened bi-coastal pop-ups (open from September 1 to the end of December) in New York City (Flatiron) and Los Angeles (Melrose).
ON Files For IPO
More than a decade after its founding in Switzerland, running footwear brand ON has filed for an Initial Public Offering on the New York Stock Exchange under the ticker, ONON. In Monday’s F-1 filing by the brand’s parent, ON Holding AG, the company discloses that H1/21 revenue grew 85 percent ...
Global Lotto Brand Rights Acquired by WHP Global
New York-based WHP Global has acquired the global trademarks for the iconic Italian sports brand Lotto. Financial terms of the intellectual property transaction for the 48-year-old brand were not disclosed. WHP, which intends to spend over $1 billion on consumer brands ...
Biden Administration Urged to Engage China on Trade and Economic Issues
Nearly three dozen trade groups and organizations, including the National Retail Federation (NRF), Sports and Fitness Industry Association (SFIA) and American Apparel and Footwear Association (AAFA), are pressing the Biden Administration on trade and economic matters tied to China.
Retail Update: Foot Locker, Amazon, Kohl’s, Walmart, Target
Foot Locker is seeing higher average spend among its FLX reward program members, which grew to 25 million in Q2 from 20 million at Q1 end. Member Average Order Values (AOVs) were said to be approximately 10 percent higher than those of non-members as they shopped the retailer’s banners ...
Expanding Boot Barn Thinks Consumers Will Tolerate Price Increases
Retail chain Boot Barn, which will grow its door base by 27 in FY22 as it continues to expand its brand’s reach to new consumer segments, thinks product demand from U.S. footwear consumers will not be impacted by any looming product price increases.
Authentic Brands Group Reels in Reebok
New York-based Authentic Brands Group, which owns 30 iconic brands across nine segments in its portfolio, last week agreed to acquire Reebok from adidas Group for €2.1 billion ($2.46 billion) in a deal that’s expected to close in Q1/2022.
Asics Leans On ‘Caregiver’ Strategy
Asics believes it can continue to differentiate itself in the running and athletic footwear markets by differentiating itself as a ‘caregiver’ brand. In a June presentation to investors, the company cited eight reasons that consumers gravitate to a particular sports brand.
In The News: Mizuno, OS1st, Twisted X, SFIA, AAFA
Mizuno has launched the fifth iteration of its Wave Sky Series, the Wave Sky 5. The updated model, which retails for $170, features the brand’s new soft, responsive midsole material in the Enerzy Core and a new Smooth Stretch woven upper that wraps around a runner’s foot to create a...
Companies Take Actions to Mitigate Asian Supply Chain Issues
Adidas, Columbia Sportswear and Acushnet Company are among industry firms being forced to implement new operational strategies to offset any potential slowdowns of product deliveries through the remainder of 2021.
DSW to Become Exclusive N.A. Wholesale Distributor for Hush Puppies
DSW, the 600+ door retail chain owned by Designer Brands Inc., will become the exclusive in-store distributor of Hush Puppies by 2022 in a move that should raise the brand’s profile with Millennial shoppers.
Adidas Forecasts Growth Despite Factory Challenges
Adidas sources 28 percent of its products in Vietnam, which is in the middle of a lockdown until Aug. 22 due to rising COVID cases. The market’s current factory situation could impact Adidas’ Q4 footwear volume but will have “very little impact” on the company introducing new products...
In The News: LAMO, Mizuno, Columbia, Shoe Carnival
Southern California comfort brand LAMO Footwear is introducing new winterized styles for fall and winter that feature the brand’s LAMO-LITE EVA outsole paired with materials such as wool, Australian sheepskin, faux fur, and leather PU uppers to keep feet comfortable and warm.
Hispanic Market Key to Foot Locker’s WSS Acquisition
Foot Locker is immersing itself in a market battle for Latino athletic footwear and apparel customers in key U.S. Western and Southwestern states with its decision to acquire Los Angeles-based WSS, a 93-door operation owned by Eurostar, Inc., for $750 million.
Sorting Out Back-To-School, H1 Athletic Footwear Trends
An estimated 55 percent of U.S. families will buy two pairs of shoes per child this Back-To-School season and another 31 percent will purchase one pair per child, according to the Footwear Distributors and Retailers Association (FDRA) and FFANY National Back to School 2021...
Puma’s Roar May Be Stifled by Supply Chain Woes
Puma’s ability to further strengthen its rising fortunes in North America and elsewhere in the world may rest on its ability to receive regular product deliveries from its Asian sourcing partners for the remainder of 2021 and 2022.
The North Face Momentum Continues to Climb
Brand parent VF Corp. attributes some of The North Face’s strides, including an 83 percent increase in global revenues for the period ended June 30, to TNF’s increasing ability to drive “365-day relevancy” through its diverse offerings for both on- and off-mountain.
In The News: Under Armour, Snowsports Industries America, Oboz, 52 Hike Challenge
Under Armour realized 101 percent growth in Q2 North American sales to $905 million as the company continues to earn back shelf space with better sell-through rates, higher average selling prices (ASPs) and better gross margins.
Hot Crocs Faces Supply Chain Realities
In raising the company’s FY21 guidance last week after reporting a strong Q2, Crocs executives confirmed potential supply chain drags are embedded in the better outlook that includes full-year, global revenue growth of 60-65 percent and an annual adjusted operating margin of...
U.S. Will Not Slap Vietnam Imports with New Tariffs
The Office of the U.S. Trade Representative (USTR) announced late last week that it would not place new tariffs on Vietnam imports. The decision came after a nine-month investigation prompted by the Trump Administration that labeled the Asian nation...
OrthoLite Announces Zero Waste Initiative
Amherst, MA-based OrthoLite, insole supplier for more than 350 footwear brands, has announced a Zero Waste Initiative. With OrthoLite insoles utilized in more than 500 million pairs of shoes every year, the company believes its commitment to...
Skechers Works to Push Product ASPs, Margins Higher
Skechers and its wholesale partners are benefitting from a more favorable, promotional environment around the globe via stronger sell-through rates and higher Average Selling Prices (ASPs).
In The News: Xtratuf, Twisted X, Sequential Brands Group
Xtratuf’s new Ankle Deck Boot Sport for Spring 2022 won the “New Product Showcase Best in Footwear” award from iCast 2021. The style has a sport fishing-specific silhouette with a Pro Lite outsole that is durable and slip-resistant.
Sperry Teams with Netflix on OBX Capsule Collection
Sperry has partnered with Netflix to create a footwear collection based on the hit series Outer Banks. Sperry x OBX incorporates elements of the show’s style, including seersucker-lined boat shoes and distressed sneakers.
DSW Taps Mario Lopez and His Family to Promote Back-To-School
DSW, the Designer Brands-owned chain of 500+ locations has tapped actor and TV/radio host Mario Lopez and his family of five to promote a curated “must-have” shoe collection for men, women and children.
Joachim Kath is New CEO at Schoeller Textil AG
Schoeller Textil AG, the Swiss textile and technology company, announced a shift in leadership as Joachim Kath takes over as CEO. Kath, previously the Chief Operating Officer at Schoeller, takes over the CEO role from the retiring Siegfried Winkelbeiner.
In The News: Norda, Dyneema, Dearfoams, Rocky Boots, Nike
Canadian running footwear brand Norda, founded in 2020, is launching the first-ever shoe with Dyneema. Available for pre-order now, and delivering in August, the $285 Norda 001 has an upper seamlessly constructed with Dyneema.
Private Equity Firms Now Appear to Have Inside Track for Reebok
With the deadline for binding, second round bids for Reebok less than three weeks away (Aug. 2), four private equity firms are now reportedly the top suitors for the Adidas-owned business.
Ecco USA President Quel to Step Down
Dave Quel, president of Ecco USA, will retire at the end of July after 22 years at the company. A transition strategy is in place and beginning Aug. 1, Klaus Flock, CFO of Ecco USA will take over as interim president until a successor has been appointed.