Despite growing first quarter sales and adjusted earnings beyond Wall Street expectations, lululemon athletica is said to be facing a rising tide of competitive pressures and a changing fashion trend that could keep the company’s comparable store sales depressed for the remainder of its fiscal year. All this comes as leveraged buyout speculation continues swirling around the Vancouver company and LULU announces plans to exit all but eight of its 55 ivivva branded stores, an eight-year old concept that offers premium-priced girls’ activewear for tweens. Read more...
In the face of President Trump’s announcement that the U.S. will withdraw from the historic 2015 Paris climate agreement that 195 countries signed onto, the outdoor industry and sportswear giants Nike and Under Armour voiced opposition to the move and vowed to continue their respective efforts focused on a low-carbon growth economy.
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The UGG, Teva and Hoka One One parent intends to improve its operating margin to 13 percent over the next two fiscal years through a number of measures. Among them: reducing its product development cycle, consolidating its factory base, continuing the migration of production away from China and more retail store consolidation.
The Westport, CT parent of nine companies, including Liberty Safe, has purchased Crosman, the East Bloomfield, NY maker of airguns, archery products, optics and accessories for $152 million. Compass previously owned a majority stake in Crosman but divested the business in 2007. For the 12 months ended April 30, the parent of the Crosman Benjamin and CenterPoint brands had net revenues of approximately $118 million.
Marcus Lemonis aims to save a struggling plus-size swimwear company in the first episode of CNBC’s “The Profit” tomorrow night. He is featured on a Florida billboard touting the show with the slogan, “I give a buck!” But will he have what it takes to rebrand and re-open a refreshed Gander Mountain, which has now filed for bankruptcy protection twice, before the end of 2017?
Time will tell, but there are indications the CEO of publicly traded Camping World is on his way. He is expected to release a list of Gander locations that will go forward this week. Already, decisions to close Gander stores in Rockford, IL; Monroeville, PA and Jacksonville, FL have been disclosed via Twitter. And he’s promised his Twitter followers the chain will be renamed “Gander Outdoor” and re-merchandised before November 1. Talks with vendors are underway, although Lemonis has largely been mum about the specific approach the chain will take going forward. With liquidation sales in progress at all Gander locations, some of Lemonis’ Twitter followers have expressed dismay about how pricing and liquidations have been handled, telling him the brand name is being tarnished. He, however, appears confident Gander customers will return to a refreshed format--whatever that is.
What is known is that Lemonis will award the winner of a new Gander logo contest, advertised on Twitter, the sum of $50,000 and likely use the emerging logo not only on store signage but also on the chain’s own, private label apparel and, perhaps equipment. He also apparently has plans to have most, if not all, of the future doors alongside a Camping World store and lessen Gander’s reliance on “hooks and bullets” consumers to focus on more of an outdoor lifestyle message that will be family-centric.
Peak Achievement Athletics, the company that has emerged from the $575 million purchase of bankrupt Performance
Sports Group, will remain in Exeter, NH with co-CEOs leading its sports equipment brands.
Last week, Peak’s controlling shareholders Sagard Holdings and Fairfax Financial, tapped a former Nike and Adidas executive who spent 13 years at Bauer Hockey, as CEO of its Bauer, Cascade and Maverik businesses. Edward G.
Kinnaly will also serve as Co-CEO of Peak. He will share that role with an executive to be named, who will spearhead the company’s Easton baseball/softball business as a separate arm. Kinnaly was quick to stress the stability of Peak and business acumen of its private equity ownership. “These are buy-and-hold type of investors that build value over the long-term. They are not trying to manage it quarter to quarter,” he told the New Hampshire Business Review.
Sagard and Fairfax, which took equity in the former PSG through debt forgiveness and infused the company with $150 million at acquisition, have already determined that Bauer’s controversial foray into retail with “Own the Moment” stores in Burlington, MA and the Minneapolis market will not proceed further. The fate of existing retail stores is still to be determined.
As for bankrupt PSG, a June 14 court hearing will determine if the entity can extend the filing deadline for its Chap. 11 plan until August 28. Even if approved, the company will likely be unable to wrest itself from ongoing securities investigations in the U.S. and Canada and the possibility of a trustee claim against former senior executives Kevin Davis and Amir Rosenthal, who allegedly pulled trade orders forward to make quarterly financial figures appear stronger.
Ed Rosenfeld, Chairman and CEO of Steve
Madden, is the new chairman of the Footwear
Distributors and Retailers of America. He was among a number of executives hired or promoted last week. Also at the FDRA, Mike Jeppesen, president of the Global Operations and Wolverine Heritage Group at Wolverine Worldwide, was named Vice Chairman and Cliff Sifford, president and CEO of Shoe Carnival, was appointed Treasurer. Meanwhile, Rick Muskat, principal of Deer
Stags Concepts, will an Ex-Officio member of the trade group’s Executive Committee.
Elsewhere,
• Boa Technology has hired industry veteran Shawn Neville, most recently CEO and Chairman of Aerosoles Group, as CEO. During his career, Neville has also worked in senior executive level posts for Reebok Intl., Footaction USA, Keds USA and Avery Dennison.
• Wolverine Worldwide taps Bornie Del Priore, formerly with Tommy Bahama, Tommy Hilfiger and Ralph Lauren Footwear, to lead its newly-created Wolverine Children’s Group that will develop the children’s category for brands in its portfolio.
• Reebok International promotes 25-year company veteran Chris Froio to general manager of its North American business from brand director in Western Europe.
Atlanta-based boutique search firm RISE Talent Acquisition, founded in late 2015 by 25-year industry veteran Rey Corpuz and specializing mid- to senior-level positions, has forged a partnership with the Sports & Fitness Industry Association. RISE places individuals in sporting goods, active lifestyle, apparel and fitness companies.
“We’ve recently identified a need for additional leadership and are confident that RISE will enhance membership value and employ individuals that contribute to our company’s success,” said Tom Cove, president and CEO of the trade organization.
Amazon last week cancelled ‘Style Code Live,’ a weekday daily online fashion and beauty show after 15 months.
Dick’s is opening new stores in Miami, Aventura and Sunrise, FL and Torrance, CA this month.
MC Sports wants to convert its three-month old, Chap. 11 bankruptcy to Chap. 7 or have the court dismiss the case altogether. All of the chain’s 68 stores closed last month.
Payless is seeking bankruptcy court permission to close an additional 112 stores that would grow to 296 if it doesn’t get rent concessions from landlords. The added closures would bring the total doors shuttered to 781.
Vista Outdoor, parent of Federal, CamelBak and Bell among others, sees Moody’s drop its credit rating due to the company’s weak operating performance and concerns over when anemic demand for recreational firearms and accessories will stabilize.
Walmart has begun a trial “last mile” delivery program in New Jersey and Arkansas that enlists store associates to deliver customer packages on their existing commutes home from work. No official word yet on how the associates will be compensated for their efforts that are expected to expand the retailer’s reach further into suburban and rural markets.
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.
