ABG sees Reebok reaching $10 bn at retail
Jamie Salter, CEO of the Authentic Brands Group (ABG), told Footwear News that he sees Reebok growing by more than 20 percent in 2022, generating more than $5 billion worth of sales at the retail level. He added that ABG’s goal is to take the brand’s retail sales up to ...
Lululemon countersues Peloton over its activewear
Lululemon Athletica launched its threatened lawsuit against Peloton Interactive over the latter’s new activewear line in the federal court for Central California on Nov. 29. Lululemon had sent a cease-and-desist letter to Peloton on Nov. 11, claiming potential infringement of six design patents by five items in the latter’s collection.
Rossignol sells Felt Bicycles to Pierer Mobility
The Rossignol Group has agreed to sell its American brand of road and racing bicycles, Felt, to the Pierer Mobility Group, a European leader in “powered two-wheelers,” including motorcycles and e-bikes, based in Austria. In announcing the move, without mentioning the agreed price, the French company explained it with a ...
Shelving IPO plans, ABG brings in two new investors
Placing on hold its plans to go public, as previously announced in July, the Authentic Brands Group (ABG) has decided to stay private. Instead of going for an IPO at this stage, some existing shareholders will sell significant stakes in ABG to funds advised by the private equity company CVC ...
Yonex raises guidance as Q2 sales grow by 34%, driven by China
Yonex enjoyed a sales increase of 34 percent to 16.6 billion yen (€143.2m-$169.1m) in its second quarter, ended Sept. 30, leading the Japanese company to nearly double its net income to ¥2,396 million (€18.4m-$21.8m). The gross margin expanded by 3.5 percentage points to 46.7 percent.
Outdoor outperformed the athletic and casual footwear market in 2020, but…
It all depends on the brands that we include in three annual surveys that EDM Publications puts out every year for these three segments of the shoe market, some of which play in two different segments.
Indebted ManUnited to issue shares to its fans
Manchester United fired Ole Gunnar Solskjaer, the Norwegian team manager hired three years ago, after the English football club lost 4-1 against Watford on Saturday Nov. 20, its fifth defeat in the first seven matches of this season’s Premier League. The dismal score, which is infuriating the club’s fans, will ...
Peloton offers over $1.1 bn in new shares
With its cash flow turned negative by $522 million at the end of its September quarter, Peloton Interactive has decided to launch a secondary offering for 23.9 million Class A shares priced at $46 each to raise $1,099 million. It is also proposing an over-allotment of $150 million depending on ...
Goldwin improves quarterly results
Goldwin has reported a 53 percent increase in net income to 1,397 million yen (€10.8m-$12.7m) for its second quarter ended Sept. 30 as its revenues for the period went up by 9 percent to 21.13 billion (€163.7m-$192.0m). In addition to its own brand, the Japanese group owns the distribution of ...
On sees growth slowing down from 68% in Q3
In its first quarterly report since its successful IPO in September, On Holding reported a sales increase of 67.6 percent to 218.0 million Swiss francs (€206.9m-$234.5m) in the third quarter ended Sept. 30, leading to a growth of 77 percent for the first nine months of 2021. The gross margin ...
Fila's Q3 revenues inch up thanks to Acushnet, Europe is down
Fila Holdings saw group revenues in the third quarter ended Sept. 30 inch up by 1.1 percent to 927,065 million Korean won (€689.4m-$784.1m). However, the Fila brand’s revenues declined by 6.1 percent to KRW 321,194 million (€238.9m-$271.6m) without accounting for the previously reported strong contribution from Acushnet, the golf company ...
Wolverine breaks even as Q3 sales are clipped by supply chain issues
Wolverine Worldwide saw revenues in the third quarter rise by 29.1 percent to $636.7 million compared with the prior year, boosted by incremental revenues of $39.1 million from the recent acquisition of Sweaty Betty, which saw pro forma sales growth of over 50 percent in the quarter, and the strong ...
New Balance projects 30% growth
New Balance is projecting a 30 percent increase in its sales to $4.5 billion in 2021, with growth of at least 25 percent in each geography. That would compare with revenues of $4 billion in 2019 and $3.4 billion in 2020.
Golf and running lift Mizuno
Strong sales of golf and running products, especially in the Americas and EMEA, helped Mizuno to boost its total revenues for the second quarter and the first half ended Sept. 30, despite a drop in its home market of Japan during the latest few months.
Adidas strikes a cautious note after a 3.4% sales hike in Q3
Adidas toned down its expectations for full-year sales and earnings as the company’s growth slowed in the third quarter due to supply chain disruptions, Covid-related lockdowns in Asia-Pacific and a “challenging” market environment in Greater China.
Logistics problems lead Nautilus into a loss
Like with Peloton, but on a smaller scale, a partial shift in fitness activities from the home to the gym had an impact on the revenues of Nautilus for its second quarter, ended Sept. 30. Combined with shipping problems, which caused a shortage of $22 million in products that should ...
Callaway Golf raises guidance as all segments outperform
Callaway Golf raised its guidance for the full year once again, after revenues in the third quarter increased by 80.1 percent as compared to the year earlier to $856.5 million, continuing to benefit from the addition in March of Topgolf and a better-than-expected contribution to its top line from golf ...
Supply chain issues dampen Brooks’ growth
The global growth of Brooks Running softened to an annual clip of 24 percent in the third quarter, as pandemic-related supply chain problems began to affect its ability to meet consumer demand, reducing its sales in September. It had grown faster in the first half, as its total sales for ...
Black Diamond’s 20% gains helps Clarus to book higher Q3 sales
Clarus Corp. reported a jump in net earnings on an adjusted basis of 97 percent to $4.53 million in the third quarter ended Sept. 30, as sales grew by 69 percent to a record $109.0 million, with a 67 percent gain in constant currencies. On a pro forma basis, including ...
Allbirds’ IPO proceeds rise to $348 million
The underwriters of Allbirds’ public offering fully exercised an over-allotment option to purchase additional shares, which was not surprising in view of the doubling in the initially offered price of $15 a share in the course of trading. All in all, Allbirds has placed a total of 16,850,799 shares, raising ...
Shortages reduced Giant’s growth to 2.5% in Q3
With strong ongoing global demand for bicycles and e-bikes, Giant Manufacturing reported that its production facilities are fully loaded with orders. However, a lack of components affected the production in the third quarter, leading to an increase in consolidated sales of only 2.5 percent to 19.95 billion Taiwan dollars (€619.0m-$715.0m) ...
Canada Goose improves its guidance, citing momentum
Canada Goose reported an improved gross margin and a lower operating margin on a 19.6 percent increase in revenues to 232.9 million Canadian dollars (€161.9m-$187.1m) for its second quarter ended Sept. 26. Excluding the exceptional revenues from personal protective equipment recorded in the same period a year ago, comparable sales ...
Asics’ growth softened in Q3
Asics recorded solid growth in sales and operating income in the nine months ending September 30, as the strong showing of its Performance Running business in North America, Europe and Greater China and cost-cutting efforts more than offset the continuing effects of Covid-19.
Peloton cuts its sales guidance by $1 bn
Peloton Interactive lost more than one-fourth of its value on the stock exchange as the company slashed its sales guidance for the full financial year by up to $1 billion, predicting that revenues will range from $4.4 billion to $4.8 billion. Analysts were budgeting sales of $5.4 billion for the ...
On to make running shoes from carbon waste
On, the Swiss brand of running shoes that recently went publicin New York, has announced a shift away from petroleum-based resources with the development of a new foam material called CleanCloud™. It is made from carbon emissions as a raw material. On is the first company in the footwear industry ...
Champion grew strongly in Q3
Hanesbrands reported increases in its global sales of Champion products of 20 percent in absolute terms and 33 percent excluding discontinued operations such as the C9 mass market program in the U.S., during the third quarter ended Oct. 2, with balanced performances between the U.S. and the rest of the ...
Expanded: Allbirds doubles its valuation as it goes public
Allbirds, the California-based producer of Wool Runner merino shoes and other eco-friendly sneakers and apparel sold in a direct-to-consumer mode, started trading on the Nasdaq exchange under the ticker symbol BIRD at an opening price of $21.21 per share on Wednesday, Nov. 3. That was more than 40 percent above ...
UA upgrades guidance after a good Q3
Under Armour upgraded its guidance while posting better-than-expected results for the third quarter ended Sept. 30, leading to a jump of more than 18 percent in its stock price, close to its 52-week record of $26.45. The company’s net earnings soared to $113.4 million, more than twice the analysts’ consensus ...
Puma’s brand momentum outpaces supply chain drags in Q3
Puma raised its outlook for full-year sales after reporting solid growth in sales and earnings in the third quarter ended Sept. 30 despite persistent supply chain headwinds and difficulties for Western brands in China.
VF raises sales outlook although supply chain strains cap Q2 growth
VF Corp. lost more than 5 percent of its value on the stock market after it published its results for its second quarter ended Sept. 30 on Oct. 22, but it has regained some ground since. The management improved its guidance for this year’s revenues to $12.0 billion from $11.8 ...
Allbirds’ IPO seeks a $2 bn valuation
Allbirds has priced its planned public offering at a range of between $12 and $14, which would give it a valuation of more than $2 billion, in spite of continued losses. It plans to offer a total of 19.2 million shares to raise up to $269 million.
Crocs posts an Ebit margin of over 32% on 73% higher sales
Performing better than what analysts had estimated, Crocs reported a sales increase of 73.0 percent in the third quarter to a record level of $625.9 million, with a gain of 72.2 percent on a constant-currency basis. The company posted an exceptionally high operating margin of 32.2 percent, up from 19.9 ...
VF promotes Nina Flood to president of global packs
VF Corp. has appointed Nina Flood as president, global packs for Eastpak, JanSport and Kipling. She has most recently served as president of Eastpak, after a long career at two other VF brands, Nautica and Kipling. Flood joined VF in 2003 after leaving the fashion brand Guess. Working from the ...
Casall grows by 21%
Casall Sport, the Swedish supplier of fitness clothing and equipment, grew by 21 percent in the past financial year, leading to a fivefold increase in profits, according to Sportfack. In June 2020, when Hanna Hedlund became the company’s CEO, Casall had reported an operating profit of 2.24 million Swedish kronor ...
A new COO for Boardriders
Boardriders has appointed Deborah Palmer Keiser as chief operating officer, according to Shop-Eat-Surf. Replacing Colin Smith, who served as COO on an interim basis, she will start her job at the company’s head office in California on Dec. 13. Keiser has been most recently the president of Timbuk2, the California-based ...
Nike and others pay tribute to Virgil Abloh upon his death
Virgil Abloh, the visionary American fashion designer behind the nine-year-old Off-White brand of streetwear, died of cancer on Sunday Nov. 28, aged 41. While his collection consists mainly of clothing, including many sweatshirts and some jogging pants, Nike has been partnering since 2016 with Abloh on some special sneakers, with ...
On takes over the distribution in Spain
CMD Sport reports that On Running will take control of its business in Spain through its own subsidiary. The Swiss brand has officially announced the consensual termination of its business relationship with Siker Sport, which has been distributing On over the past seven years. As of Jan. 1, 2022, the ...
Pusu teams up with Spinnova for more sustainable skis
A five-year-old Finnish manufacturer of skis and snowboards, Pusu, has decided to partner with Spinnova, using its sustainable fibers to replace carbon and glass fiber as a durable, composite reinforcement material to go with wood. The company has already started pre-selling the first model of skis made with Spinnova for ...
Nike debuts virtual world on Roblox
In early September it was Vans. Now Nike has established a virtual world on Roblox, the virtual environment and platform for multi-player video games. In Nike’s case, however, the move could relate to a whole new business. As we reported in December of last year, the American sportswear giant has ...
French pioneer in snowboard bindings has passed away
Robert Emery, a French pioneer in the development and manufacturing of snowboard bindings, has passed away at the age of 68. He inherited a factory that was making camping accessories and other products from his father Roger in 1948. The eponymous firm, Emery; then developed a series of ski bindings ...
Nike cancels orders in the U.S.
A tweet circulated by Brendan Dunne of Complex, which reports mostly about sneakers, has raised new doubts about the Swoosh’s ability to service its retail clients in the U.S. due to the current supply chain disruption, sending down slightly Nike’s share price and that of some major U.S. retailers. Dunne ...
Nike settles with Skechers
Nike and Skechers have reached a settlement at undisclosed conditions of their long-standing legal battle, putting an end to three intellectual property lawsuits after the mediation of a judge for the Central District of California. The dispute started in January 2016, when Nike accused Skechers of using design elements of ...
