The Most Sought After Sportswear Brands?
Nike is the most “searched for” sportswear brand in the U.S., followed by lululemon, Adidas and New Balance, according to a recent study. Online shopping tech firm Rakuten conducted the survey by analyzing Google searches over the past 12 months.
Crocs Eyes $4 Billion in FY23 Revenue with International Leading Growth
Crocs, which has delivered 54 percent annualized shareholder return since 2017 by its own calculation, is forecasting revenue growth of 10 to 13 percent this fiscal year to a range of $3.9 to $4.0 billion with sales in markets outside the Americas increasing at the highest rate.
Wolverine Worldwide’s Q4 Profitability Will Be Impacted by Inventory Reductions
The Merrell, Saucony and Sperry parent reduced its Q4 inventory total from the prior quarter by 8.5 percent to $805 million, but the effort is forecast to weigh negatively on the company’s FY22 and Q4 adjusted diluted earnings.
Journeys’ Store Traffic Didn’t Materialize During Holidays
Senior executives at Journeys’ parent Genesco surmise many of the chain’s customers were both sensitive to price and price hikes during the holiday period, and “taking a break” and buying fewer shoes than usual.
Will New CEO Fortify Under Armour’s Growth Path?
Can a senior Marriott executive fortify Under Armour’s growth path? The athletic footwear and apparel industry will soon find out. Late last month, Under Armour hired Stephanie Linnartz, the president of Marriott International, as its new president and CEO.
Designer Brands Acquires Topo Athletic
Topo Athletic, the performance athletic footwear brand founded by Tony Post, has been acquired by DSW parent Designer Brands.
Nike Wants Healthy Inventory Position by End of Fiscal Year
Coming off strong second quarter results in North America, bolstered by strong full-price footwear sales and growing momentum in its digital business, Nike is intent on getting to a healthy inventory position in the region by the end of its fiscal year on May 31.
Material Science Firm Introduces Biodegradable, Scented Slides
Balena, a two-year-old material science company with headquarters in Milan and Tel Aviv, has introduced BioCir, a cinnamon-scented slide made of its proprietary, 100% biodegradable plastic that it hopes will help...
In The News: Manitobah, New Balance
Moccasin meets sneaker in the new Forager from Winnipeg, Manitoba-based brand Manitobah. The $160 men’s style, new for Spring 2023, is lightweight and suitable for indoors, outdoors, trail or city.
Wolverine Narrows Portfolio Focus to Prioritize Growth Brands
Wolverine Worldwide plans to either divest or license its Keds and Wolverine Leather business segments and is reducing its overall headcount as the company looks to reduce complexity, increase long-term shareholder value, and focus on growing the business of key owned brands.
New Balance Being Honored by AAFA as ‘Company of the Year’
The American Apparel & Footwear Association (AAFA) will fete Boston-based New Balance and other individuals during the 2023 American Image Awards Gala on April 25, 2023, at The Plaza Hotel in New York City.
Waco Shoe Introduces Revitalign Men’s Line
A new men’s collection from the Revitalign brand was introduced last month, featuring the same orthotic technology as the brand’s women’s products. There are three casual styles—the Brewster, Dundee, and Siesta—in the initial men’s assortment.
VF Corp. Changes Leadership, Lowers Outlook Again
The North Face, Timberland and Vans parent has slashed its fiscal year outlook for the second time in five weeks and named two directors to lead the company on an interim basis following the retirement of Steve Rendle, Chairman, President and CEO of VF Corp.
Designer Brands: Consumers Increasingly Focused on Value
The Designer Shoe Warehouse (DSW) parent is seeing more of its customers focused on value, and says it’s prepared to meet their product needs in a current, heavily inventoried marketplace that has vendors competing against it with their respective Direct-To-Consumer channels.
Journeys’ Customers Buying Habits Changing
Parent Genesco experienced a sharp acceleration in sales within Journeys during the key Back-To-School period of August and early September with customers purchasing fashion, athletic and casual footwear offerings. Casual “outstripped the growth” in fashion athletic.
Dr. Martens Lands Strong Wholesale, D-T-C Growth
U.K.-based footwear brand Dr. Martens generated 31 percent (15% in constant currency) first half sales growth in North America to the equivalent of $217.5 million. Wholesale revenues increased 35 percent and Direct-To-Consumer sales rose 26 percent year-over-year for the period ended Sept. 30.
Caleres’ Brand Portfolio Delivering Positive Momentum
Fueled by strong consumer demand for fashion brands and products, segment revenues at Caleres rose 7.6 percent to $323.2 million in the third quarter ended Oct. 29.
On Delivers Despite Warehouse Constraints
Third quarter North American revenues for the Swiss brand On rose by 57 percent to 176.3 million Swiss Francs ($184.6 million) despite temporary constraints on its business in mid-August due to problems in its warehouse that prevented the company from fulfilling all demand...
Foot Locker Raises FY Outlook
Citing better than expected third quarter results, plans to further re-mix its brand portfolio, and a strategy to shift to 300 off-mall locations by 2024, Foot Locker raised its FY financial outlook last week.
Non-Athletic, Shoe Station Bolster Shoe Carnival Results
Shoe Carnival, which intends to operate over 400 locations in 2023 and 500+ between 2026 and 2028, realized solid contributions from non-athletic sales and its new Shoe Station banner in the third quarter ended Oct. 29.
sportstyle checked in with more than a dozen U.S. running specialty retailers to capture the pulse of the running marketplace from coast-to-coast. Similar “hot button” issues emerged among them —inventory, supply chain and staffing.
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.