In the News: Fila, Famous Footwear, Dick’s Sporting Goods, Superfeet
Fila USA’s Q2 gross margin declined 460 basis points to 26.5 percent on a higher sales mix into lower-margin distribution channels and increased freight costs caused by constraints on its supply capacity. Overall, the company, which sells into the U.S., Canada, and Mexico, posted a 101 percent increase in sales to $113.5 million for the three months ended June 30. Quarterly net profit was $464,000 versus a loss of $4.4 million in Q2/20. Through H1/21, Fila USA’s total revenues were up 51 percent to more than $245.8 million.
Famous Footwear, helped by customer donations, has raised $4 million for its national charity partner, Ticket to Dream Foundation. Additionally, the retailer has donated over $1.7 million worth of shoes, socks, and masks to the organization since Aug. 2020 to assist 200 non-profit partners.
Dick’s Sporting Goods promotes Navdeep Gupta to EVP/CFO, effective Oct. 1. He has been SVP of Finance and Chief Accounting Officer for the retailer since Nov. 2017.
Nike’s VP of Footwear for the Jordan Brand, Gentry Humphrey, is retiring.
Superfeet has introduced the ADAPT Run Collection of insoles. The brand says the new insoles represent an evolution of Superfeet technology — an alternative to the firm foundation of traditional Superfeet offerings, with a soft, flexible feel that’s made to feel like part of the running shoe. These cushioned running insoles are available in two different arch heights: ADAPT Run with a thinner profile and lower arch, and ADAPT Run Max with a deeper heel cup and higher arch profile.