The real story inside Foot Locker’s first quarter results was not the retail behemoth’s slow comparable store sales growth (+0.5%). Nor was it the lower U.S. store traffic, due to a slower-than-normal February prompted by the later issuance of tax refund checks to customers, or its lower profits—which prompted an abrupt 17 percent pullback on the stock Friday that some circles called misguided. The main story for Foot Locker was the “walking the tightrope” stance taken by CEO Dick Johnson, who avoided favoring Nike or Adidas when discussing the market going forward. “There is lot of great heat from both of these brands,” he said. Read more...
CEO Ed Stack thinks the retailer’s growth strategy will give it plenty of flexibility for real estate opportunities in the near- and immediate-term. Approximately 25 percent of the chain’s stores are up for lease renewal at the chain’s option over the next three years, and Stack believes the cost of retail leases will fall significantly during the period due to closings underway by the likes of Macy’s, JCPenney, HHGregg and others.
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Pending a last-minute snafu, the annual Snow Show trade show, owned and hosted by Snowsports Industries America for more than a half century, will have a new owner on Wednesday. And the pending $16.7 million sale transaction will likely pave the way for the semi-annual Outdoor Retailer Show to eventually relocate to Denver from Salt Lake City. Read More...
Days after being confirmed as the new U.S. trade representative, Robert Lighthizer announced his intention to renegotiate the 23-year-old North American Free Trade Agreement on behalf of the Trump Administration. Talks could begin by September 1.
Key Republicans will reportedly seek an updated NAFTA deal among the U.S., Canada and Mexico, instead of a major overhaul that could wipe out current, duty-free benefits to Canada and Mexico that some U.S. companies, including farmers, receive.
Lighthizer, a former deputy USTR under President Reagan, says he is committed to President Trump’s “America First” trade policy. He has also pledged to consult Congress on a key trade initiative of the Outdoor Industry Association that would expand duty-free status on travel goods to all countries in the Generalized System of Preferences (GSP), the main U.S. trade preference program for developing countries, the trade group said.
Also last week, the Personal Health Investment Today (PHIT) Act, a bill promoted and supported by the Sports & Fitness Industry Association, had its co-sponsor support in Congress reach 50 with the addition of Congressman Joe Barton (R-TX). In a separate development, 10 retail executives, including VF Corp.’s Steve Rendle, met with Treasury Secretary Steven Mnuchin in a closed-door meeting to voice their opposition to any proposed border adjustment tax. It is their contention that implementation of a BAT would force them to raise prices and cost consumers an average of $1,700 annually.
The U.S lost the fewest number of golfers in 2016 since 2009, according to a new report from Pellucid Corp., but it remains unclear if the trend is positive or not for the industry. The research company says it doesn’t know if “basically flat” participation last year “represents a support for future growth” or “pause prior to continued declines” in the sport.
Committed golfers, those playing 40+ rounds annually, fell for a second consecutive year in 2016 as those in the group left the game or moved to “Involved frequency,” and the number of casual players (1-9 rounds annually) also declined.
Pellucid, which sells its National Consumer Franchise Health Scorecard for $199 through its website, has “slightly lifted” its projection for golfer base size in 2020 but still believes it will fall short of a 20 million target unless a grow-the-game initiative has a positive impact on a national scale this year.
Bravada
International opens the LeggingSuperstore.com on the Shopify platform that offers over 3,000 styles.
Camping
World CEO Marcus Lemonis invited the founder of Overtons to Gander Mountain headquarters last week to mentor associates who will work for the emerging retailer. He also doubled the prize in the Gander Outdoors logo contest to $50,000 and offered the top 50 entrants $1,000 gift cards.
Neff
Headwear, the youth-focused headwear, apparel and accessory brand founded in 2002, is sold to Mad Engine and will operate out of the acquirer’s Orange County, CA branded division. Founder Shaun Neff is joining Neff as chief creative officer.
OnCore
Golf strikes a distribution deal for its ELIXR tour ball to be sold in all 92 Wegmans stores in the Northeast and Mid-Atlantic states. The Buffalo company is conducting a series of in-store clinics within supermarket locations through mid-June.
Online
retail sales rose 14.8 percent in the first quarter to $98.06 billion, according to the U.S. Commerce Dept., to account for 8.4 percent of all retail sales during the period.
PEI GOLF has signed Willy Wilcox as a brand ambassador for Jack Nicklaus Apparel’s NICKLAUS Collection.
REI is partnering with Momentum Indoor Climbing on REI Co-op Climb, a destination for climbing gear, programming and events at Momentum’s new gyms. The first area opens July 15 in Katy, TX followed by a gym near Houston later this year. Katy will be one of the largest climbing gyms in the U.S. at 36,000 square feet.
Rocky
Brands promotes Jason Brooks, 46, president of core brands, to president and CEO. Mike Brooks will continue as Chairman.
Superfeet Celebrates 40th Anniversary. The employee-owned company introduces footwear and rolls out a 3D printed insole program.
BOA introduces New Tech and Names New CEO. Nothing will constrict Boa Technology CEO Shawn Neville from helping the Denver company improve its customized fit solution.
No strings attached. The married Argentinean couple has raised nearly $20 million for Hickies, a Brooklyn company addressing how athletic shoes are closed around the foot two eyelets at a time.
The Co-founder and Managing Partner of Partners Growth, which brings premium brands into the U.S. market, talks Finnish children’s wear brand Reima.
Six-year old Altra is teaming with Utah State University to develop outdoor design talent.
Let's Go Hyperwear: Former Equinox personal trainer merges the innovative, functional fitness gear from Austin, TX company with programming for schools, camps and institutions.
Sly and Simple. BlueFox.io and its technology enable a retailer to interact with customers in store and track traffic. No beacon required. The CMO explains the benefits of the platform.
The CEO of Xenio Systems talks about the company’s new platform that tracks where shoppers spend time in physical stores and its patented hyper-positioning technology.
The director of export promotion for Mexico’s Guanajuato State government agency addresses the proposed impact of the Border Adjustment Tax by the U.S. and the possibility of a renegotiated NAFTA free trade agreement.
The founder and CEO of EyeFitU, a former investment banker, talks ‘glocal’ assortments, shoppers’ personal sizing and global web payment options.
The president and CEO of the SFIA addresses the most serious threat the industry has faced in the past half-century and the expected re-introduction of the PHIT Act by Congress.
The Italian global trade expert in footwear talks about the present and future of TheMicam trade show and the potential impact of a Border Adjustment Tax in the U.S. on imported shoes.
Dr. James Eakin, chief marketing officer and director of U.S. operations for Xenoma, discusses the Japan company’s e-skin shirt and entire wearable category.
Industry senior statesman Rusty Saunders dishes on industry leadership, pressing issues and the inactivity pandemic.
Expert Barbara Barclay, president of RightEye, talks eye-tracking technology and her company’s recent alliance with Major League Baseball and USA Baseball.
Julie Sylvester, Executive Producer at Living in Digital Times, talks trends likely to emerge at Sports and FitnessTech Summit at CES in Las Vegas.
Chris Palmer, Founder and CEO of BoxFox, talks excess inventory and solutions for vendors, retailers and distributors.
Susie McCabe, SVP of global retail for Under Armour who previously spent 16 years at The Ralph Lauren Corp., dishes on UA’s retail strategy and new Brand House in Boston.
On the eve of Election Day, we talk to three leading industry lobbyists on how the results may impact trade in the sporting goods, outdoor and apparel and footwear industries.
On the eve of Election Day, we talk to three leading industry lobbyists on how the results may impact trade in the sporting goods, outdoor and apparel and footwear industries.
On the eve of Election Day, we talk to three leading industry lobbyists on how the results may impact trade in the sporting goods, outdoor and apparel and footwear industries.
The president of Reebok Future discusses the intent of the unit and the brand’s plans to develop footwear in a new way.
TREW CEO Paul Schille dishes on the eight-year old company in the process of completing its Series A round of funding and his dual career.
Milestone Sports CEO Jason Kaplan dishes on the company’s low-cost, wearable pod and how it will help specialty retailers connect.
OOFOS marketing executive talks about the recovery footwear brand and candidly about her courageous personal health journey.
Footwear Distributors and Retailers of America President Matt Priest the likelihood of the Trans-Pacific Partnership being passed soon.
ING Source executives dish about compression technology and the Hickory, NC company’s breakthrough OS1st Brace Layer System.
Jones & Vining’s Charles Liberge addresses strategies and directions for the iconic brand.
Rockport Group senior executives talk about the brand’s fresh start under new ownership that has a major emphasis on versatility.
Mission Athletecare CEO Josh Shaw says thermoregulation is the New York company’s singular focus.
Tim Porth of Octane Fitness talks trends, Zero Runner and the company’s January acquisition by Nautilus Inc.
The principal and founder of Rising Tide Associates talks about industry advocate lobbying for the domestic textile and footwear industries.
The ‘47 brand executive dishes on the Boston company and long-time MLB licensee founded by his father Arthur and his late Uncle Henry.
Pam Gelsomini, president, and CB Tuite, VP–sales, discuss the company’s products, partnerships and what’s new for the season ahead.
The tradeshowdirector for the American Sportfishing Association casts comments on the activity’s popularity, and trends in fishing.
The principal and founder of Rising Tide Associates talks about industry advocate lobbying for the domestic textile.
The VP of sales and sponsorships for Spalding, Dave Coradini talks Shot Tracker and basketball.
The executive brand and product innovation leader dishes to F4M’s Emily Walzer on an array of topics.
Snow Sports Industries of America’s Kelly Davis talks weather, participation trends and how to handle the psyche.
Gene McCarthy, president of Asics America, speaks to Jen Ernst Beaudry on specialty run and more in the second part of the podcast.
Gene McCarthy, new president of Asics Americas, dishes to F4M’s Jen Ernst Beaudry in the first of a two-part podcast.
Saucony’s Richie Woodworth offers his views on brand’s running business and what it takes to manage through change.
Bruce Cazenave, CEO of Nautilus Inc., recently ranked 23rd on Fortune’s “Fastest Growing Companies” list.
Gary Smith has been at the helm of the Lawrence, MA firm for three years, and his 2016 strategies will broaden Polartec’s scope.
Wilson Sporting Goods, one year removed from its 100th anniversary and a major restructuring, has a renewed focus and strategy.
