SGB Executive Footwear
EXEC: Saucony Raises Outlook After Solid Q2 with Wholesale Growth Led by Int’l, Continued U.S. Gains
Even with the strong performance of the Saucony team over the last handful of years, the brand team still views Saucony as a small challenger brand in a very attractive category. In Q2, the brand dropped collaborations with Estudio Niksen, Greyson, two with Engineered Garments, and Minted New York. Earlier this month the brand plans to drop a highly anticipated collaboration with Westside Gunn.
EXEC: Asics North America Sees Double-Digit Growth Across All Regions in Q2
Asics North America (ANA) reported that it delivered double-digit revenue growth in the second quarter across its three regions, with gains of 19.4 percent in the U.S., 25.8 percent in Canada, and 30.4 percent in Mexico. The gains were driven by the wholesale channel across regions, with wholesale sales up 36.6 percent in the U.S. region.
EXEC: Japan’s Xebio Holdings Sees 6 Percent Growth in Fiscal Q1
The largest sporting goods and athletic apparel retailer in Japan reported sales in the fiscal first quarter ended June 30 rose 6.1 percent to ¥68,242 million ($428 mm).
EXEC: Birkenstock Completes Secondary Stock Offering
Birkenstock Holding plc announced the pricing of a secondary public offering of 25.5 million shares of Birkenstock sold by BK LC Lux MidCo S.à r.l., an entity affiliated with L Catterton. The sale reduces L Catterton’s stake in Birkenstock from about 54 percent down to approximately 40 percent.
EXEC: Sports Direct Parent Frasers Group Acquires Luxury Retailer Harvey Nichols
The acquisition includes Harvey Nichols’ portfolio of six stores including the newly refurbished Knightsbridge London flagship, Manchester, Birmingham, Bristol, Leeds, and Edinburgh, together with its online business, existing inventory and over 1,000 employees.
EXEC: Asics Corp. Hikes FY Outlook on Gangbuster First-Half Results
The company raised its outlook for the year after reporting net earnings rose 53.3 percent in the first six months on a 32.7 percent sales surge. On a currency-neutral basis, sales in the half grew 22.0 percent, fueled by gains of 29.7 percent in Europe, 19.6 percent in North America, and 17.6 percent in Greater China.
EXEC: Fila Brand Parent, Misto Holdings, Sees Q2 Driven by Partial Ownership of Titleist and Footjoy
Misto segment revenue, which includes the Fila brand, among others, declined 7.4 percent year-over-year, primarily reflecting the restructuring of the company’s U.S. operations. Excluding the U.S. business, revenue grew 4.0 percent year-over-year.
EXEC: Salomon Opens Beijing Flagship
Salomon opened a three-story flagship store in Beijing. The 728-square-meter store at China World Mall is part of Salomon’s broader “core city, core location” retail strategy and incorporates elements of the brand’s “Blue Perspective” sustainability initiative.
EXEC: Sweden’s WeSports Group’s Q2 Sales Jump 55 Percent On Cycling and Running Strength
WS WeSports Group, the Sweden-based manufacturer of sports equipment and parent of a number of specialty retailers, reported sales in the second quarter catapulted 54.7 percent to SEK 1,177.6 million ($123 mm) from SEK 761.4 a year ago. Organic growth amounted to 21.6 percent. WeSport said in its quarterly report, “Growth was primarily driven by our […]
EXEC: Birkenstock Hikes Fiscal Q3 Revenues Climb Double-Digits Across Regions
Birkenstock Holding plc raised its full-year guidance for revenues and adjusted operating earnings after seeing double-digit growth across all regions. On an analyst call, Oliver Reichert, CEO, said the gains were boosted by the continued expansion of its closed-toe business, led by newness in both clogs and shoes.
EXEC: SportChek’s Comps Surge 8 Percent on World Cup Demand
Canadian Tire Corporation, Ltd. reported comparable sales at its SportChek segment grew 8 percent in the second quarter ended June 30 and 12.4 percent on a two-year stack basis, with the gains credited to World Cup-related demand. Fanwear, team sports and athletic footwear drove the eighth consecutive quarter of growth at SportChek.
EXEC: Yue Yuen’s Profits Slump in First Half
Yue Yuen Industrial, Ltd. reported profits fell 57.9 percent in the six months ended June 30 to $72.0 million, with declines within its manufacturing segment offsetting gains in its Pou Sheng retail business. Sales slipped 2.2 percent. On July 25, Yue Yuen had warned that profits would fall due to reduced orders from a pullback in consumer demand, as well as from cost pressures and manufacturing inefficiencies.
EXEC: Under Armour Downgraded by Barclays
Barclays lowered its stock rating on Under Armour to “Underweight” from “Equal Weight” due to the brand’s delayed recovery and heightened competition.
EXEC: Nike Brand’s Brazilian Business Marks Q2 as Biggest Quarter in Company’s History
Fisia, the home of the Nike brand in Brazil, reportedly maintained its strong growth trajectory in Q2, posting 27.5 percent growth in net revenue to R$1.3 billion, the highest quarterly net revenue in its history.
EXEC: ONON Shares Crater as On Brand Faces U.S. Wholesale Growing Pains
Shares of On Holding AG tumbled $7.87, or 20.3 percent, to $30.91 on Tuesday after the company reported sales in the second quarter missed analyst estimates and lowered its outlook for the year due to weak sell-throughs in the U.S. wholesale channel. On an analyst call, officials stressed its commitment to innovation and full-price selling will revive wholesale growth.
