In The News: Tread Labs, Zappos, Rocky Brands, Caleres, Canada Goose, Mizuno
Tread Labs, the insole brand established by Chaco founder Mark Paigen, has launched its debut collection of lifestyle sandals for men and women. Available now online and at select retailers, the Tread Labs sandal line is built upon the brand’s “Your Support Group” system that delivers comfort, pain relief and performance. Styles include the Albion ($120) and Covelo ($110), both of which are described as “supportive recovery sandals.”
“We saw a clear gap in the sandal category where we could bring our insole engineering to everyday footwear providing the next generation of comfort and fit,” said Paigen. “We began with the midsole of a running shoe, fast, comfortable, lightweight and cushioned, then added the proven arch support that our insole customers love and a microsuede footbed. Our rubber sole adds durability and slip resistance. Lastly, the 100% knit upper and the direct attach, glue less construction result in clean lines and an authentic sustainable shoe.”
Zappos, independently operated but owned by Amazon since a $1.2 billion acquisition in 2009, cut more than 20 percent of its staff, about 300 positions, last month. The action was first reported by the Wall Street Journal. Tyler Williams, a senior executive with the online retailer for a dozen years, was among the departures.
Rocky Brands hired Sarah O’Connor, a former VP for MedVet, as its new SVP, CFO and Treasurer. The company also signed a licensing deal with Status Accessories for belts and wallets under the Durango and Rocky Boots brands.
Caleres, slated to report year-end results on March 14, generated consolidated sales growth of 7 percent to $2.97 million in FY22, according to a preliminary announcement released by the Famous Footwear and Vionic parent this morning. The total exceeded a forecast of 4 to 6 percent revenue growth. Also, the St. Louis company exceed its EPS estimate for the year and lowered its year-over-year consolidated inventory level by 3 percent.
Canada Goose executives told investors last week that growth in footwear is part of its five-year strategy to reach C$3 billion in annual revenue and an adjusted EBIT margin of 30 percent by 2028. The performance luxury lifestyle brand also intends to create new and expand existing offerings for women and focus on the Gen Z consumers, who it says will represent 30 percent of the luxury market.
Nine-month global footwear revenues for Mizuno rose 24.8 percent to the equivalent of $330.9 million with growth in golf and an improved business climate in its home Japanese market contributing to the gain. The company realized 24 percent sales growth in the Americas to an estimated $173.0 million for the period ended Dec. 31. Mizuno’s footwear growth outpaced apparel and equipment in the period. Mizuno’s overall nine-month results showed a 26 percent increase in operating income to the equivalent of $77.1 million on an 18 percent revenue gain to an estimated $1.11 billion. All geographic regions and product categories reported double-digit sales gains for the period.