What Caused Olympia Sports’ Demise
Sporting goods chain Olympia Sports, founded in 1975, announced in late July that it would liquidate and close its final 35 doors. And a recent bankruptcy filing has revealed more insight into what led to the retailer’s demise.
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.
Journeys Consumers Continue Shifting Toward More Casual Offerings
Customers at Journeys, the Genesco-owned retailer, who were getting squeezed by inflation and trading down to more affordable price points in the second quarter ended July 30, are continuing to move their footwear preferences away from fashion athletic styles to more casual offerings.
DSW Going ‘Narrower, Deeper’ with Top Brands, Testing New Format
The Designer Brands-owned retailer DSW, which experienced a 40 percent year-over-year increase in sales of its own brands in Q2, is working with top branded partners to go narrower and deeper with their respective assortments.
Shoe Carnival Gets Lift from Non-Athletic
Faced with a lack of athletic inventory for weeks due to late deliveries, Shoe Carnival leaned on non-athletic footwear to bolster Q2 results.
Caleres Gets Q2 Boost from Brand Portfolio
St. Louis-based Caleres, with a brand portfolio segment consisting of a range of labels, including Naturalizer, Lifestride, Allen Edmonds, Vionic and Dr. Scholl’s, delivered a 78 percent increase in Q2 profits to $29.4 million on 36 percent revenue growth to $324.1 million from $239.0 million.
Waco Shoe Co. Focuses on Foot Support
Lifestyle, comfort footwear company Waco Shoe Co., which builds its footwear around its research-based orthotic-driven insole, is relaunching three products under its Revitalign brand—the Kholo, Siesta and Yumi—with improved sole designs.
Dick’s SG Benefitting from ‘Best in Class’ Footwear Range
Lauren Hobart, president and CEO of Dick’s Sporting Goods, the nation’s largest full-line sporting goods chain, last week said the retailer’s footwear segment today is really strong due to its best-in-class assortment that is connecting with customers.
A New Era Begins at Foot Locker in September
Mary N. Dillon, the former executive Chair and CEO of Ulta Beauty, Inc and a past McDonald’s Corp. and PepsiCo senior executive., is taking the helm of Foot Locker on Sept. 1 as president and CEO to replace the retiring Richard Johnson.
Adidas Will Appoint New CEO in 2023
Kasper Rorsted’s term as CEO of adidas AG will be over more than three years before his employment contract expires on July 31, 2026, despite the company experiencing double-digit growth in 85 percent of its business.
Sizing Up the U.S. Running Market
Now that all the major, public athletic footwear brands have reported their respective results for the three months ending June 30 (in Nike’s case, Q4 ended May 31), it is a good time to summarize what each is saying about the running category.
Forsake Brand Planning ‘Big Changes’ for Fall 2023
Best known for its “sneakerboots” and outdoor lifestyle offerings, Forsake is undergoing a re-tooling in Portland, OR and intends to make big changes to its product assortment for the Fall 2023 season, according to Thomas Florsheim, Jr. Chairman and CEO of The Weyco Group.
Dr. Martens Sees a “Significant Runway” for U.S. Growth
British brand Dr. Martens, which recently completed its first year as a publicly traded firm, says its U.S. penetration is 17 pairs per 1,000 population, slightly more than half of the brand’s sell rate in its home U.K. market.
UA Braces for Higher Inventories, Elevated Promo Environment
Under Armour is steadfast in maintaining its annual revenue forecast of 5 to 7 percent growth despite a myriad of H2 headwinds that are expected to impact operating income and gross margin.
Adidas Hikes NA Revenue Outlook, Despite Dimmer Global View
The Three Stripes, citing strong current momentum, raised its annual revenue outlook for North America last week at the same time it warned of a possible global deceleration in consumer spending in H2 due to challenging macroeconomic conditions.
Crocs’ Q2 Business Driven by Double-Digit Gains Outside N.A., Heydude
Simultaneous with the release of second quarter results last week and a significant decline in its operating margin for the period, Crocs lowered its fiscal year guidance. The company is now forecasting a 14-17 percent constant currency increase in revenues...
In The News: Altra x BOA, Rocky Brands
Performance running brand Altra has launched the Mont Blanc BOA trail runner, the brand’s first shoe to feature a BOA Fit System for a secure, personalized fit.
Key Back-to-School Shopping Insights
Consumers in the West are increasing their spending on back-to-school kicks while their Midwestern counterparts are reducing their shoe spending, according to the FDRA+FFANY National Back to School 2022 Footwear Shopper Survey Report.
Deckers’ Hoka Train Keeps Chugging Along
A new “Fly Human, Fly” global marketing campaign, more international expansion and a broader product reach tapping into trail, hike, walking, and lifestyle are part of Deckers’ current effort to further escalate Hoka’s sales trajectory.
Puma Will Return to New York Fashion Week Next Month
The Cat, preparing for its 75th anniversary in 2023 with a marketing campaign that bring its “Forever” and “Faster” marketing messages together by simultaneously focusing on...
The North Face, Timberland are Strong Q1 Performers for VF Corp.
The best-performing brands for VF Corp. during its fiscal first quarter ended June 30 were The North Face and Timberland. VFC’s reported outdoor revenues rose 24 percent to $768.6 million from $617.8 million with TNF posting a 37 percent sales increase on gains across regions and channels.
In The News: JD Sports, Swiftwick, Erem
JD Sports Fashion, the publicly traded parent of The Finish Line, Shoe Palace and DTLR banners that has 87 U.S. doors under its own nameplate, has hired a new CEO. Régis Schultz...
Hiring Advice from the Shop Floor
Securing new employees hasn’t been an easy task for years, well before the start of the Covid-19 pandemic. Low unemployment rates and high demand for able, qualified bodies in a multitude of industries has given potential new hires leverage...
New England Retail Shifts Again with Olympia Sports’ Liquidation
The retail landscape in New England for athletic footwear and apparel continues to shift with last week’s announcement that Olympia Sports, founded in 1975, will liquidate and close its final 35 doors by Sep. 30.
Skechers Posts Record Q2 Sales, But Guarded About Future
Numerous factors have Skechers, celebrating its 30th anniversary in 2022, cautious about its outlook for the second half of the year. They range from an overall uncertain global economic environment to persistent supply chain concerns and a slower pace of recovery in China.