Footwear Insight Extra
OR Launching Outdoor Adventure X Consumer Event in June
Outdoor Retailer will be hosting Outdoor Adventure X, a new adventure festival for consumers, at Snowbasin Resort in Huntsville, UT, this June. The consumer event will take place the weekend prior to the Outdoor Retailer Summer trade show held at the Salt Palace Convention Center, June 19-21, 2023.
Survey Sheds Light on Sustainability Progress in Footwear
There has been no “game-changing” progress in sustainability for the footwear sector, and shoe professionals are equally divided over whether the industry is living up to the increased marketing of sustainable footwear.
Performance Run Continues to Power Asics
Bolstered by strong category sales gains in Greater China and Oceania during the third quarter, Asics has grown nine-month profitability in its performance run business by 9.6 percent to $316.2 million as segment sales have raced forward by....
Wolverine Sets New Brand Structure, Establishes Profit Improvement Office
The parent of Merrell, Saucony, and 10 other brands, wants to establish $150 million worth of initiatives through a new office of profit improvement with an objective of recognizing at least $65 million worth of savings.
Promo Environment, Excess Inventory Impact Fila USA
The U.S. arm of Fila Holdings Corp. in Korea generated an operating loss equivalent to $11.6 million in the third quarter as it dealt with weakening pricing power caused by the market’s excess inventory and faced a need to move excess inventory to better align with its five-year strategic plan.
In The News: Naot, Oboz, Darn Tough Vermont, Baffin
Naot Footwear’s first flagship store is now open in New York City’s SoHo neighborhood at 436 W. Broadway. The boutique, open seven days a week, 11 am to 7 pm, has a minimalist feel and is designed to display the brand’s current collections as “works of art.”
Promo Environment Makes Crocs’ Near-Term Performance Hard to Predict
Crocs, which raised its annual guidance last week after another strong quarter, is facing a bit of a dilemma in North America, particularly the U.S. market. Elevated footwear inventory levels at retail are pressuring margins.
Rocky Brands Sees Strong Results from Brand Portfolio
Although the company has dropped its annual revenue guidance due to a difficult fourth quarter comparison, Rocky Brands experienced strong third quarter results with solid contributions from its key brands.
Consumers Remain Resilient Despite Inflationary Challenges
U.S. consumers, faced with the pressures of inflation and higher prices, will go holiday shopping, and spend 6-8 percent more than they did in 2021 to more than $943 billion, according to the annual forecast by the National Retail Foundation that was released last week.
Hoka Continues to Drive Deckers’ Momentum, Outlook
Hoka, which Deckers Brands intends to transition to a head-to-toe brand serving running, trail, and hiking consumers worldwide, is forecast to grow its annual sales by 50 percent to help its parent reach its overall FY revenue guidance of $3.45-$3.50 billion.
Puma Continues to Manage All Short-Term Challenges
The Cat, which last week confirmed its full-year outlook of currency-adjusted mid-teens sales growth and EBIT of €600-700 million ($594-695 million), is moving forward under CEO Bjorn Gulden with a strategy that focuses on managing all short-term challenges to prevent them from...
What’s Next for Adidas After Dropping Kanye West
The Three Stripes, which late last week slashed its full-year guidance for a second time in three months, is now figuring out how to move forward without Kanye West, also known as Ye, who had been the brand’s most prominent endorser for the last nine years.
Gettings Will Be First Woman CEO at Red Wing
Red Wing Shoe Company will begin 2023 with its first female CEO. The company has named Allison Gettings president and chief executive officer, effective Jan. 1, 2023. Gettings, who is currently Red Wing’s president, will assume the role of CEO following the planned retirement of Mark Urdahl...
Skechers Continuing to Focus on Logistic Investments
A new 2.6-million-sq.-ft. Skechers distribution center in Southern California is in its final stage of integration into the company’s existing system and is expected to deliver improved processes and volume for Skechers through 2023.
Third Quarter U.S. Footwear Sales Were Flat at $10.8 Billion
The fashion footwear business in the U.S. increased by 7 percent year-over-year in the third quarter to an estimated $3.5 billion, but the leisure footwear segment was flat at $5.2 billion, and the performance business declined 6 percent to $2.1 billion for the three months ended Sep. 30.
Sorel Relocating its HQ
Columbia Sportswear-owned footwear brand Sorel will move into an expanded headquarters building in early 2023. Currently based in downtown Portland, OR, Sorel’s new HQ will be housed in an exclusive single use building on the Columbia Sportswear Company’s campus in Washington county, OR.
Xero Shoes Adds New VP Product Development
Colorado-based natural movement footwear brand Xero Shoes has hired John Wadley as VP of Product Development. Wadley joins Xero from Altra, where he spent 10 years, most recently as Director of Product Innovation and Sustainability.
In The News: Saucony, Skechers
Saucony has launched the new Ride 15 TR, a road-to-trail crossover shoe built with a comfort-first sensation in a versatile and protective package that’s light, soft and fast. Featuring a new PWRRUN foam cushioning formula, a low-profile PWRTRAC outsole and a lightweight protective mesh upper...
Grassroots Outdoor Alliance Gears Up for November Connect Show
The specialty outdoor buying show Grassroots Connect will take place in Kansas City, MO, next month with more than 1,000 attendees expected, including more than 150 leading outdoor industry brands, an increase in retailer attendance, and two new discovery opportunities.
VF Corp. Outlines Five-Year Growth Strategy, Details Brand Plans
VF Corp., the Denver-based parent of 12 brands, including The North Face, Vans and Timberland, intends to expand its compounded annual revenue growth rate (CAGR) by mid- to high-single digits by FY27 and raise its annual operating margin to approximately 15 percent by then.
Footwear, Sorel Integral to Columbia’s Three-Year Growth Plan
Columbia Sportswear unveiled fresh financial targets to analysts last week. Footwear, digital and growth outside the U.S. are key components of a strategy that the company is promising will increase its compound annual growth rate (CAGR) by 9 to 11 percent between FY22 and FY25 to...
JD Sports’ H1 Results Impacted by Supply Chain, Difficult Comparison
The British retailer JD Sports, which currently operates 101 stores under its nameplate in the U.S. and intends to open a flagship store in Chicago over the next six months, suffered a 4.2 percent decline in H1 revenues in the region to the equivalent of $1.39 billion.
Black Star Combines Western Style & Comfort Innovation
The new Fall 2022 collection from Twisted X brand Black Star Boots features a modern, elevated take on classic western styles. The new collection follows Black Star’s recent rebrand, drawing the brand closer to its western roots.
In The News: CEP, W.L. Gore, Salomon
CEP Compression this week launched its Infrared Recovery Sock, MSRP $49.95, which integrates Smart Infrared with compression technology. The company says the “game-changing” sock helps improve microvascular circulation to shorten recovery time and ensure legs feel rejuvenated quicker than ever.
Rischke Joins Erem to Lead Wholesale Division
Erem, the footwear brand committed to making high performance footwear with minimal environmental impact, announced the hiring of Chris Rischke, formerly the Director of Operations at Oboz, as the company’s VP of Operations and Wholesale, effective immediately.
Zumiez Sees Spike in Private Label Interest
Active lifestyle retail chain Zumiez realized an 85 percent drop in second quarter operating profit to $5.0 million from $32.0 million for the period ended July 30. Ebit was down by 83 percent to $5.5 million as net income came in 87 percent lower year-over-year at $3.1 million versus $24.0 million.