INSIDEINSIGHTc919297.r97.cf2.rackcdn.com/sxq2ln7szthn2zcs85eeqnoi7nw6... · 2016-07-07 · Game-Changing Push INSIDEINSIGHT SPORTS. SPECIALTY. RETAIL. BUSINESS. TM N ike knows that

Game-Changing Push

INSIDEINSIGHTSPORTS. SPECIALTY. RETAIL. BUSINESS.

TM

Nike knows that to reach its lofty annual revenue goal of $50 billion by 2020 it needs to change the rules of

the game. The brand has done that before with advertising and product. But now the company is prepared to just do it with a less sexy or provocative component of its global business, yet just as important — the supply chain.

Swoosh rivals and the industry-at-large should take heed.

Flex, a $26 billion, publicly traded company with expertise in design, engineering and supply chain management, has struck an alliance with Nike that is allowing the sporting goods industry leader to test new methods of manufacturing, automation techniques and “broad disruptive technologies.” With the Milpitas, CA, firm preparing a product customization program near Nike’s Memphis, TN, distribution center, Nike sees the relationship over the longer term helping it develop an eco-system of suppliers and vendors that will support sustainable manufacturing closer to major markets. And rather than keep its Flex findings in-house, Nike is vowing to share and collaborate on them with its entire sourcing base.

Eric Sprunk, Nike COO, admits that

“changing an industry that has operated in the same way for 50 years is hard work,” and confirmed the Flex relationship “will be a catalyst to move our product creation forward unencumbered by the way things have been done in the past.”

Flex is being leaned on to help the industry leader, which is opening a 125,000-square-foot advanced product creation center on campus this month, to rethink its entire footwear manufacturing process. This includes the challenge of materials management. Already the company has introduced a robotics solution to paint shoe midsoles, eliminating a laborious and wasteful process that involved taping non-targeted areas. Also on deck: a personalized, midsole cushioning system that is said “to open up design possibilities that don’t exist today,” making way for “tuned and engineered” midsoles for every athlete.

Nike, whose current $30.6 billion business last year moved 1.1 billion units through its supply chain, 700 contract factories, 58 distribution centers, 20,000 accounts and 110,000 retail doors, admits that it needs to reduce complexity in operations and also “leverage its size to make responsiveness a competitive advantage.” n

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Richie Woodworth,

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Tilly’s moving ahead under

former president. PAGE 6

ShrinkingBankrupt City Sports

faces extinction without buyer.

Acquisition Polartec takes on United Knitting.

Slammed Walmart shares take big hit after

forecasting profit drop.

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With Phil Knight, 77, set to step down as Nike’s chairman in 2016 and also publish his memoir next year, a new era is dawning at Nike.

But the Swoosh, which recently elected Phil’s son, Travis, 41, to its board, is determined not to miss a step as it strives to reach a five-year revenue objective of $50 billion. Last week, during its first investor conference in a few years, Nike laid out some of its lofty objectives and already accomplished goals. A quick overview: • Over the last 25 years, Nike has built the third-largest design portfolio in the U.S.• The goal is to double Jordan brand business to $4.5 billion by FY20.• Company generates one billion “consumer touchpoints” annually.• Additional one billion consumers will have access to Nike by 2020, with four billion having access to Nike brand via mobile devices.• Intends to grow its $5.7 billion women’s business to more than $11 billion in next five years.• Plans to expand its more than $1 billion e-commerce business to more than $7 billion by FY20.• Flyknit technology, which began in 60,000 pairs of a single shoe in Fall 2012, is in 28 styles this fall and will become a $1 billion business in 2016.• A new partnership with Dreamworks and a new technology company, NOVA, will enable Nike to develop a 3-D design system and move into “ultrarapid” prototyping.• Moving to a more directed approach to merchandising should enhance the top line. Nike pointed to 14 points of distribution in the Westfield Mall in Connecticut that in aggregate generate $27 million in sales. Altering offerings by banner will add $5 million in yearly sales.• Brand has had 22 consecutive quarters of double-digit sales growth in running. Category should hit $7.5 billion in annual revenues by FY20.• Nike Training Club, the largest training community for women, is available in 146 countries and 18 languages. n

An additional one billion consumers will have access to Nike by 2020, with four billion having access to Nike brand via mobile devices.

FROM THE EDITOR

Nike by the Numbers

www.insideinsight.com2 ©2015 Formula4Media, LLC

EDITORIAL

Editor in Chief Bob McGee / [email protected]

Contributing Editors

Retail and Technology Mark Sullivan / [email protected]

Sports Specialty Cara Griffin / [email protected]

Outdoor Lou Dzierzak / [email protected]

Footwear Jennifer Ernst Beaudry / [email protected]

Textiles and Sourcing Emily Walzer / [email protected]

Team Sports Michael Jacobsen / [email protected]

Publisher Jeff Nott / [email protected]

DESIGN

Design Director Francis Klaess

Art Director Mary McGann

Designer Brandon Christie

ADVERTISING

Beth Gordon / [email protected]

Jeff Gruenhut / [email protected]

Troy Leonard / [email protected]

Katie O’Donohue / [email protected]

Sam Selvaggio / [email protected]

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INSIDE INSIGHTTM is a trademark of Formula4Media, LLC. © 2015 all rights reserved. Inside Insight is published on the first and third Mondays of every month, and is edited for sports brands and retail management executives. The opinions by authors and contributors to Inside Insight are not necessarily those of the editors or publishers. Articles appearing in Inside Insight may not be reproduced in whole or in part without the express permission of the publisher. Formula4Media, LLC, P.O. Box 23-1318, Great Neck, NY 11023. Tel: 516-305-4709. Annual subscription $249.00

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HOT TOPICS

Market Disruption; Trade; Material Cost


N ike is probably ruffling the feathers of some key suppliers and competitors with its decision to align itself

with a Silicon Valley innovation house to test, develop and create new methods for production. Of course, no one knows how long, if ever, the alliance will take to effect real change in this industry’s global supply chain.

Still, isn’t it inherent of industry leaders to incite change?

One of Nike’s mantras since Phil Knight’s

co-founded the company was repeated by CEO Mark Parker last week:

“We’re constantly looking for ways to completely disrupt the market.”

Like “Just Do It” from 1988 and so many Swoosh initiatives since, this alliance may well do it again, only better. And in the process, make Nike a nimble, responsive $50 billion vendor and provide the industry at large with more vitality and profitability.

— Bob McGee

F or U.S. textile and apparel makers, the TPP “yarn forward” rule is a big deal, and a sticky point between industry

organizations. The statute requires that key steps in production – such as yarn spinning and fabric formation – happen in a TPP member nation in order to get preferential trade treatment. Without this key element, domestic textile suppliers could take it hard on the chin. Apparel companies not so much.

Without a yarn forward rule in place non-TPP countries, specifically China, could supply textile components to

Vietnam – a huge sourcing hub for apparel makers – have assembly done in TPP-approved Vietnam and then ship garments duty free to the U.S. Essentially, China gets in the back door. And apparel companies reap price competitiveness at retail in the states. TPP details may be revealed as early as this week.

Looking ahead, industry insiders are thinking positively about TPP passage, but implementation would still be a ways away; January 2020, has been mentioned.

— Emily Walzer

A dramatic rise in steer hide prices will be reflected in footwear for Spring ’17 and beyond, according

to sources at last month’s Northwest Materials Show in Portland, OR. A sales and marketing executive at one supplier said it has witnessed “five years of price gains in six months” this year.

“The result? Brands will increasingly look to blend synthetic leathers with leather on uppers, a choice already embraced by

some as a way to amp up performance characteristics. The trend, which is well established in athletic footwear, is starting to see more acceptance in the outdoor world. And on the color side, suppliers agree: Spring ’17 will see black play a critical role. With monochromatic black-and-white and neutral beige and greige styles already trending, the higher leather prices will make black an economical choice for savvy designers.

— Jennifer Ernst Beaudry

New partnership should help Nike meets its $50B revenue goal.

Domestic textile suppliers will take a hit without ‘yarn forward’ rule.

Higher leather costs, more black uppers, on horizon.

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INSIDE RETAIL

Tilly’s Eyes Return to Glory Days


L ooking for solutions to prop up its sagging stock price, comparable store sales and overall fortunes, the 219-door

action sports chain made a senior leadership change earlier this month. Tilly’s, which has more than 50 percent of its common stock voting power controlled by co-founder Hezy Shaked, hired back its former president and co-CEO Edmond Thomas.

Thomas, who served as president and CEO of The Wet Seal from Oct. 2007 to Jan. 2011, helmed Zumiez between Sept. 2005 and Oct. 2007. That was years before the retailer filed for an initial public offering. He replaces Daniel Griesemer, a former Gap, Macy’s and Coldwater Creek executive for 28 years, who took the Zumiez reins in Feb. 2011.

With two of its longtime brand mainstays, in Billabong and Quiksilver, in recovery and survival modes, respectively, Tilly’s has experienced its share of struggles over the last two fiscal years under Griesemer. Sales per square foot, in stores that average approximately 7600-square feet, have declined for two consecutive years, an

aggregate 14.4 percent between FY13 and FY15 to $292. Last year, company sales approached $518.3 million, but annual operating income slipped 22 percent on a 2.8 percent comparable stores sales drop.

This year, it has been more of the same. Tilly’s missed revenue and earnings forecasts during its most recent second quarter. And TLYS’ share price was down more than 22 percent for the year-to-date to $7.79 on Oct. 7, the date Griesemer exited.

Nonetheless, according to markets.co, 77 percent of financial bloggers earlier this month maintained a positive outlook on the retail chain, which counted nearly 42 percent of its store base in the Golden State at the end of FY14 and remains under penetrated in large eastern U.S. markets.

In fairness to Tilly’s, its two rivals have also been struggling. Pacific Sunwear, whose shares are down more than 85 percent year-to-date and some 47 percent since its latest earnings announcement Sep. 8, is expecting another loss in third quarter and a comp sales decline of -3 to -6 percent. Zumiez, meanwhile, said a more promotional environment and lackluster response to its merchandise offerings contributed to a 10.7 percent comp store sales drop in August and a nearly 62 percent decline in year-to-date share price through mid-September. Nonetheless, Zumiez, at 578 doors strong, is moving forward with plans to open 57 doors in the U.S. this year.

Research house Stifel is positive on Zumiez, citing social media trends that show the banner is the most favored in the space among those it evaluated. The retailer, it says, offers authentic and branded merchandise that cushions it from the promotional pressures facing other teen retailers. Additionally, Zumiez is said to have good relationships with designers that help it reposition merchandise quickly. n

Tilly’s remains under penetrated in large eastern U.S. markets.Photo: Mary McGann

“Research house Stifel is positive on Zumiez, citing social media trends that shows the banner is most favored in the space…”


The End May Be Near for Bankrupt City Sports

Bankruptcy court bids for 18 City Sports’ stores are due by day’s end Oct. 26, with a proposed court hearing to approve any sales tentatively slated for Oct. 28. Without sufficient buyer interest in these locations, the specialty chain, which filed for Chapter 11 bankruptcy protection Oct. 5, will proceed to close the 18 stores on the block with going-out-of-business sales during the holiday season. Already, Tiger Capital Group is assisting City Sports shutter eight underperforming doors and sell-off inventory.

City Sports, founded in 1983 in Boston and currently 83 percent owned by funds affiliated with Highland Capital Partners, has been looking for solutions to aid its ailing business since April 2014. That’s when it hired FTI Consulting to help reduce costs. FTI reportedly advised the chain, which installed Highland investor and former Sports Authority and Golfsmith CEO Marty Hanaka as CEO three months ago, to slash store hours and labor and slow ordering. But FTI was apparently unable to assist the chain renegotiate costly store leases, a huge fixed cost.

Michael Kennedy, a City Sports’ co-founder now living in Australia, told Boston.com via email that

the chain’s creation mirrored Urban Outfitters’ real estate strategy by focusing on busy areas in big (Northeast) cities with upscale pedestrian-oriented traffic. He alleged Highland, which acquired City Sports in 2008, with veering off that path with its expansion approach.

“The frustration for me and many of us from the old City Sports is that the game plan was just never put into play…The new ownership suddenly had a predisposition to a very different real estate track, and stuck with it to the end despite everything the data was showing, year after year,” Kennedy told the unit of the Boston Globe.

Hanaka, who agreed to an interview and podcast with Inside Insight in August, declined to comment on the chain’s decision to file for bankruptcy protection or strategies going forward.

Court documents show City Sports had $38.6 million in assets and $39.6 million in liabilities at the time of the filing and had generated approximately $45 million in revenues through the first nine months of 2015. The retailer’s top 26 trade creditors are owed more than $9.57 million, including more than $5.3 million owed to the Top Five. The list is headed by Nike ($1,267,231), Under Armour ($1,036,532), Asics America ($1,030,773), Patagonia ($1,009,202),

The North Face ($968,301), Brooks Sports ($605,095), Adidas ($482,791) and New Balance ($438,733).Inside Take: There will be big holiday bargains at 18 locations if a buyer doesn’t emerge.

Polartec Buys United Knitting; Eye Also on Future Sale

The news of Polartec involved in an acquisition deal was not a big surprise last week as the Lawrence, MA-based textile supplier has been on the market. But the fact that Polartec was the one making the purchase did raise industry eyebrows. In a statement, Polartec confirmed it acquired the operating assets of United Knitting, a Cleveland, TN, maker of performance knit fabrics.

According to Polartec, United Knitting has served as a technology licensee and valuable production partner/supplier to Polartec for many years, and “this acquisition supports Polartec’s strategic growth and the needs of our customers in North America and globally in this key fabric sector.” Terms of the deal were not disclosed. Neither CEO would take calls for further comment.

However, sources view the deal as a repackaging effort by parent company

IN THE NEWS



City Sports’ fate should be known by Halloween.

Polartec says United Knitting deal supports its strategic growth and North American customer needs.Source: Polartec

Documents showCity Sports had h$38.6 MIn Assets

h$39.6 M In Liabilities

http://boston.com


Versa Capital Investments in an ongoing quest to sell Polartec. The belief among the half dozen sources contacted is that Polartec will move machinery to Tennessee as the textile maker continues to shift away from its manufacturing roots. Industry execs believe Versa would love to sell the Lawrence buildings, a 600,000-square-foot site located just 35 miles outside Boston, a super hot market right now. Quietly merging production to Tennessee – as opposed to making noise shutting down the New England factory – will help position the Polartec property as prime real estate either as office or residential space; Certainly an easier sell than placing a For Sale sign on a textile mill.

What this deal signals is, “Goodbye, Lawrence,” stated one source. Also, there are no unions in Tennessee.

Sources say aligning with United Knitting assures continued innovation for Polartec in the active/outdoor and workwear markets as well as domestic manufacturing for military contracts. United Knitting currently employs approximately 64 people. Inside Take: Look for Versa to continue to re-shape Polartec’s business model

as a textile marketer rather than a textile mill — and get the business the heck out of Lawrence, MA. – Emily Walzer

DTC, International Will Drive Apparel, Footwear Segments in 2016

Investment rating service Moody’s lowered its outlook on the U.S. apparel and footwear industry to “stable” from “positive” earlier this month, citing the impact of the stronger U.S. dollar on earnings. The segment’s constant currency operating income is forecast to fall into the 3-5 percent range next year versus 5-7 percent in 2015. Meanwhile, higher sourcing costs are predicted to negatively impact company operating margins by an estimated 40 basis points next year.

On the positive side, higher returns from investments in Direct-to-Consumer and international markets will help keep footwear and apparel company revenue growth in the 4-6 percent range through next year, Moody’s says. E-commerce sales in the apparel space are forecast to expand 15.3 percent this year and 14.2 percent in 2016, outpacing U.S. retail’s expected expansion of 4.5 percent and 5.0 percent, respectively, in 2015 and 2016 as online penetration for apparel

hits 16 percent (versus 13 percent in 2015) in 2016.Other key takeaways from Moody’s on the apparel and footwear segment:• Emerging market growth will likely level off for the next two years, but China remains a key region for U.S. apparel firms.• Large apparel companies are forecast to grow sales and expand operating margins through organic growth initiatives.• The women’s denim market, challenged by the activewear trend, should recover for companies such as PVH and Levi Strauss, Moody’s predicted.Inside Take: Large companies with systems in place will not only survive, but thrive in what could be a more difficult couple of years for smaller players in apparel and footwear.

Clinton Curve May Stall TPP Congressional Approval

Final approval for the Trans-Pacific Partnership, a trade agreement among a dozen nations that has been five years in the making, may still be more than a year away thanks to Democratic presidential candidate Hillary Clinton. If Clinton can secure a handful of Democrats to follow her reversed position on the trade deal, thus preventing “fast track” Congressional passage, final

IN THE NEWS

www.insideinsight.com 9 ©2015 Formula4Media, LLC


Final TPP passage may be stalled until after the Nov. 2016 elections.

E-commerce sales in the apparel space are forecast to expand. Source: Moody’s

20162015

Sales Forecast

15.3% 14.2%


TPP passage may have to wait until after the 2016 U.S. elections next November.

Clearly, that scenario would be a blow to the Obama Administration, many Republicans and the sporting goods industry at large, which have supported the trade agreement set to lower tariffs on more nearly 18,000 categories of goods and increase U.S. company access to Asian markets. The pact also establishes uniform rules on corporate intellectual property. The Outdoor Industry Association, saying it realized the agreement had the potential for great benefits for its members, said it would “work closely with our allies in Congress to ensure the agreement lives up to our standards of balanced trade and social and environmental responsibility before we support it.”

TPP, which would connect 40 percent of the globe’s economy, would reduce or eliminate tariffs on footwear and apparel. Trade group Footwear Distributors and Retailers of America recently disclosed that U.S. footwear companies paid more than $2.7 billion in duties last year, with more than 16 percent, or $450 million, of that total from TPP partner countries. Those TPP nations include Vietnam, which would see 90 percent of tariffs eliminated with TPP passage and the remaining

10 percent phased out over a decade. The yarn forward rule of origin would be applied under TPP, providing tariff relief to any Vietnam-made apparel exported to the U.S. if produced with yarn originating from a TPP member. Earlier this year, Nike said the tariff relief would enable it to hasten the development of a domestic supply chain. The National Retail Federation and Columbia Sportswear are among industry companies and trade groups supporting the agreement, whose detractors, besides Clinton, include the auto maker Ford.Inside Take: Obama will undoubtedly campaign hard in the final year of his term to get the historic trade deal signed, sealed and delivered. But his one-time political rival and former Secretary of State will make that mission more difficult.

Walmart Initiatives Will Put Pressure on Rivals

The discount behemoth saw its shares take their biggest single-day hit in 15 years after it forecasted flat FY16 revenues, outlined plans to invest $12.4 billion next year on areas such as e-commerce and digital and said it would buyback $20 billion of its shares over the next two fiscal years. Walmart earnings per share are expected to decline 6-12 percent in FY16 on

investments in worker wages and training.

More important to vendors who sell WMT, the retailer intends to sharpen price points in a number of category segments. Company executives, speaking at an investor conference, declined to detail what types of products would be impacted.Inside Take: One upside to the news coming out of the conference: Walmart indicated it may have positive traffic trends and comp store sales growth into next year.

Crocs Aims to Do More With Less

Currency challenges and turnaround issues with China distributors has prompted Crocs to drop its revenue guidance for Q3 to $270 to $280 million from $280 to $290 million, causing the stock to drop more than seven percent after the Niwot, CO-based company’s investor day in Boston Sept. 30.

Crocs CEO Gregg Ribatt said that a strong U.S. dollar led to a $4 million loss: 65 percent of the company’s sales are done outside the U.S. Additionally, he said, Crocs will be holding back $6 million in orders to certain distributors in China because of over-inventoried positions in the difficult market.

But Ribatt, who joined the

IN THE NEWS



The fashion-forward Karin Leopard clog.Source: Crocs

Walmart shares plummeted on revised outlook.


IN THE NEWS

company as chief executive from Sperry in January 2015, said he was confident the brand’s turnaround was moving ahead. A key to any growth after closing 148 doors in the last 18 months will be to achieve high single-digit growth in its wholesale segment.

“Despite headwinds, this [quarter] really sets the stage for our future financial plans … and I feel very confident in the direction we’re heading,” he said. “We are at an inflection point, but the bulk of the restructuring is behind us and we have a line of sight to meaningful growth in Spring/Summer ’16.”

The company, which sold 55 million pairs last year, has been dramatically reducing SKU counts: Spring ’16 will be 40 percent smaller than Spring ’15, and Fall ’16 will be 50 percent smaller than Fall ’15.

However, an estimated 70 percent of Spring ’16 products will be globally aligned and available, versus about 10 percent previously. Also, Crocs, which counts the U.S., U.K., Germany, China, Japan and South Korea as its top six markets, has consolidated its e-commerce site to a dozen from 20 previously and realized a 30 percent sales lift in second quarter.

According to SVP of Global Merchandising Michelle Poole, the brand

will be “putting the iconic clog at the heart of our brand,” refreshing the style with more athletic-inspired and feminine looks. Style updates will come more frequently, Poole said, saying that the brand has failed in the past to modernize styles as often as their shopper is looking for, especially in women’s.

Crocs will also be focusing much more intensely on creating franchises of key products, taking successful models and expanding the offering in the slip-ons, flats, wedges and boot silhouettes, she said. And spring/summer as a selling and buying season will be extended to a full eight months, letting Crocs pick up sales previously left on the table in warm-weather markets looking for newness.

And in support of the brand refresh, Crocs will be continuing its “#FindYourFun campaign, which highlights its iconic clog model.

The marketing spend has increased 50 percent, or $15 million, this year with 70 percent of the total earmarked for the U.S. In 2016, the company said, “working marketing dollars” would be increased by 20 percent. Inside Take: Two former Sperry senior execs are aiming to lead the brand

back with a narrowed line that puts more design details into product for more feminine appeal.

— Jennifer Ernst Beaudry

NPD: Double-Digit Annual Sales Gains for Camping GearMillenials are helping to drive topline growth of camping equipment products, according to The NPD Group. This group of consumers embraces the values of the outdoors and wants to share them in the way they dress, play, work and express themselves,” says Matt Powell, NPD’s sports industry analyst. Further good news for the segment — outdoor consumers are showing a willingness to pay higher prices for more premium products that are both effective and versatile. Pure Hockey Grows National Footprint

Pure Hockey, which began as a small Worcester, MA, specialty shop more than two decades ago, is on the move again. TSG Enterprises, which today owns 22 Pure Hockey locations across seven states, the 22-door ComLax chain specializing in lacrosse and three e-commerce sites in Purehockey.com, Puregoalie.com and Comlax.com, is relocating its corporate and distribution headquarters to Holliston, MA.



Coolers:

h15% July 2013-June 2014

h62% July 2014-June 2015

Camp Hammocks:

h36% July 2013-June 2014

h57% July 2014-June 2015

Cookware

h6% July 2013-June 2014

h18% July 2014-June 2015

Backpacking Tents:

h15% July 2013-June 2014

h17% July 2014-June 2015

Sleeping Bags:

h1% July 2013-June 2014

h11% July 2014-June 2015Source: NPD

Fastest Growing Camping Gear ProductsPercent Dollar Change


http://purehockey.com

http://comlax.com

The move to the 345,000-square-foot facility comes as Pure Hockey, headed by co-owner and CEO David Nectow, simultaneously acquires the assets and ongoing business of SportGiant, LLC for an undisclosed price. Sport Giant, based in Carlsbad, CA, owns nine Hockey Giant specialty stores and online retailer, HockeyGiant.com. Locations stretch from Anaheim and San Jose, CA, in the west to Plano, TX, in the south and Cherry Hill, NJ, on the east coast.

In a statement, Nectow said the acquisition, while growing TSG’s brick-and-mortar footprint to 31, “allows us to better compete in an evolving competitive environment.”

He did not say if there are any plans to rebanner the Hockey Giant stores. Other TSG principals include co-owner and chairman Sal Tiano, a former managing director for JP Morgan; Jeff Copetas, VP–marketing and ecommerce; and Phil Arloro, a former IT project manager for Decathlon Sports, who is director of operations.Inside Take: Looks like Pure Hockey is taking the necessary steps to be an online and bricks-and-mortar force in ice hockey and lacrosse specialty on a national level with the ability to flex more buying muscle in the categories with key vendors.

Prepping for Old Man Winter

If you’re a retailer or vendor trying to stock the proper amount of winter gear ahead of the upcoming season, who are you to believe?

A recent report from the National Oceanic and Atmospheric Administration (NOAA) contradicts an earlier outlook on the upcoming winter season by the Farmer’s Almanac, particularly the seasonal forecast for the Atlantic corridor between Richmond, VA, and Boston.

The annual published report suggests the Atlantic corridor will be colder and snowier, particularly in northern markets, with near-normal temperatures and below-normal snowfall in southern markets. Meanwhile, in the InterMountain region of the U.S. that includes Colorado and Utah, the Almanac calls for winter temperatures to be above normal with snowfall above normal near Reno, NV, but below normal everywhere else.

NOAA, citing a prevailing El Niño impact to prevail through the winter and into Spring 2016, has drafted a different forecast for the Dec. 2015-Jan. 2016 period. It calls for above average precipitation

and cooler than normal temps stretching from southern California to the Carolinas and a swath of warmer air that will stretch from the Pacific Northwest into the Northern Plains, Great Lakes’ region and Northeast.Inside Take: Given the contradicting forecasts, national retailers of seasonal products such as fleece and boots better have mechanisms in place to closely monitor inventory levels and forecast trends this winter. Without either, they may find themselves heavily discounting in one region and scrambling for the same seasonal merchandise in another.

Cash for CollegesThe jockeying to lock

up universities to all-team apparel deals, as cited in Inside Insight’s Aug. 17 cover story, continues. Under Armour will replace Adidas as the official outfitter of the University of Wisconsin on July 1, 2016 in a five-year contract worth a reported $96-$100 million. It marks the brand’s third Big Ten sponsorship deal, joining Northwestern University and Maryland. UA will supply footwear, apparel and accessories for training and game-day uniforms for all 23 Badger teams.

In two separate collegiate

IN THE NEWS



Conflicting weather reports have retailers struggling with their winter buys.

Under Armour will replace Adidas as the official outfitter of the University of Wisconsin on July 1, 2016 in a five-year contract worth a reported

$96-100M Source: Under Armour


IN THE NEWS

outfitting developments, Washington State has extended its contract with Nike for 10 years through June, 2025. And the University of Texas, despite earlier reports to the contrary, is unlikely to move away from the Swoosh to a more lucrative deal with Under Armour or Adidas after firing athletic director Steve Patterson. The Longhorns cancelled an Oct. 4 negotiating session with Under Armour where UA was reportedly ready to offer up to $22 million annually for the apparel outfitting contract.Inside Take: Do more lucrative deals await major colleges and universities in 2016 and 2017? Will one of the three athletic brands “break the bank” to one-up a rival?

Adidas Taps into Customized Midsoles, Apparel

The Three Stripes is moving ahead with a couple of once-futuristic concepts. The first is a three-dimensional running shoe concept called Futurecraft3D that utilizes a one-of-a-kind, three-dimensional printed midsole that can be customized to an individual’s foot and running style. Adidas intends to release more details about the advancement over the next six months, undoubtedly

before the Boston Marathon in April 2016.

Also, for the first time Adidas has begun selling customized performance apparel on its miadidas platform with the performer tight. The women’s bottom is meant for wear during a variety of workouts from boot camps and weight training to running. Customizable options include color and graphics on the lower leg and waist, 10 available font styles and four graphic options.

Nike, too, is ready to make a statement in the performance tight market for the worldwide training consumer with men’s and women’s versions of Run Forever and Train Forever models that are lightweight and prevent fatigue and enhance mobility through their design.

You Can Always Count on Ma Boyle

Can a 91-year old, self-proclaimed “Tough Mother” help a company double its revenues to $4 billion over the next five years, partly through a better connection with Milennials?

Columbia Sportswear certainly hopes so.

This month, 91-year-old brand and Boyle family matriarch, Gert Boyle, stars in the company’s new global, $50 million global brand platform, “Tested

Tough.” A decade ago, Ma Boyle first appeared in Columbia ads when she tested some of the company’s products on her son, Tim, Columbia’s CEO. This time around, Gert is showcasing the brand’s heritage and culture in the Pacific Northwest by testing products on employees in a global campaign that will rollout in 63 global markets on a number of platforms:

https://www.youtube.com/watch?v=5a4hmOhGyFs

Columbia is giving Gert some help with the “Tested Tough” message out via a pair of “Directors of Toughness,” who were formally introduced on the Oct. 12 telecast of “Jimmy Kimmel Live.” The two are embarking on a paid, six-month adventure around the world to test the company’s range of apparel, outerwear, footwear and equipment. Their exploits will be chronicled on social media via the #TestedTough hashtag.

While the company, with its portfolio of brands that includes Sorel and prAna, is working hard to be less seasonally reliant with its product ranges, it probably wouldn’t hurt if Mother Boyle put in a good word with another tough mother, Mother Nature, and requested some early and often snows this upcoming winter. n



Columbia Sportswear’s Ma Boyle is back pitching for the brand after a 10-year break.

Adidas is offering customization options in its new performance tights.Source: adidas America

Source: Columbia Sportswear


http://www.youtube.com

Saved At: 8-5-2015 12:34 PM By: Catch New York / Catch New York Printed at: None Print #: 1 Round #: 1

AVIA-0064-0805 Sports Insight Media Spread Ad.indd

Job Info

Client: AVIA

Product: AVIA

Job #: AVIA-0064-0805

Job Title: One Hour Vacation

Specs

Bleed: 20.75” x 13.25”

Trim: 20.25” x 13”

Safety: 19.75” x 12.5”

Gutter: 0.125”

Fonts, Images & Inks

Inks: Cyan, Magenta, Yellow, Black

Fonts: Abel Pro (Bold), Abel (Regular)

Images: AVIA_OneHourVacation_FINALv8.tif (CMYK;

354 ppi; 84.58%)

Publications: Sports Insight

Approvals W/C OK

Creative Director:

Art Director:

Copywriter:

Account:

Studio:

Print Production:

AVIA.COM |

S:19.75”

S:12.5”

T:20.25”

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Saved At: 8-5-2015 12:34 PM By: Catch New York / Catch New York Printed at: None Print #: 1 Round #: 1

AVIA-0064-0805 Sports Insight Media Spread Ad.indd

Job Info

Client: AVIA

Product: AVIA

Job #: AVIA-0064-0805

Job Title: One Hour Vacation

Specs

Bleed: 20.75” x 13.25”

Trim: 20.25” x 13”

Safety: 19.75” x 12.5”

Gutter: 0.125”

Fonts, Images & Inks

Inks: Cyan, Magenta, Yellow, Black

Fonts: Abel Pro (Bold), Abel (Regular)

Images: AVIA_OneHourVacation_FINALv8.tif (CMYK;

354 ppi; 84.58%)

Publications: Sports Insight

Approvals W/C OK

Creative Director:

Art Director:

Copywriter:

Account:

Studio:

Print Production:

AVIA.COM |

S:19.75”

S:12.5”

T:20.25”

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http://avia.com

POP CULTURE

Social Scene


1. Which would you rather have? A $200 pair of Air Jordans or $15 Marburys?

2.Halloween leggings and T-shirts are the focus of an Instagram from Kohls.

3.Cubs Win! Cubs Win! Cubs Win!

4.Osprey informs followers about its latest testing adventure.

5. Acushnet provides some Tour stats on the success of its Titleist balls.

6.Team Asics’ Deena Kastor breaks the Masters record at the Chicago Marathon.

Chi-town, golf, Halloween apparel and the

cost of kicks take center stage. While hometown fans and much of the baseball world was ecstatic with the advancement of the Cubs to the National League Championship Series, a licensed merchandising bonanza will only be achieved if the team captures its first World Series since 1908. Elsewhere in the Windy City, an Asics-sponsored runner set a record at the marathon. Kohl’s dispatched an Instagram with some sporty Halloween apparel as Osprey gear hit the Andes Mountains. Stats are the focus of a tweet from golf ’s Titleist and Air Jordans are the subject of a tweet from Complex Sneakers. n

1

2

4

6

3

5




7%

5%

68%

42% 70%

20%


REPORT

Holiday Outlook

Holiday Spending Millenials Matter

Interaction, not transaction

Beyond Black Friday

Cybersecurity

Source information and Illustrations provided by PwC

Experiential Gifts(travel and vacations)

Before BlackFriday Week

Black Friday Week After Black Friday Week until Dec 31

Travel

Entertainment

Millenials (18-34) 35 and overGifts

Experiential Gifts(entertaining and dining)

Physical Gifts(clothes, toys, and accessories)

Gift Cards

Selectionists and millennials are driving the growing trend of experiential gifts…while survivalists and those over 45 are playing it safe with more traditional gifts.

Millennials spend proportionately more of their holiday budget on travel and entertainment than those 35-and-over.

$834

21%

31%

48% 61%23%

16%

$1,097

40%

29%23%

26%

36%

45%n Consumers*n Retailers ‡

n Consumersn Retailers

The Black Friday “event” is a thing of the past; more shopping occurs before and after Black Friday week.

*When consumers say they’ll shop‡When retailers expect consumers to shop

Ease of Checkout

Real-time, personalized offers as customers enter the store.

Ability to check other stores or online stock quickly.

In-store Wi-Fi with fast,simple login.

Digital displays that show product(s) selected /or available.

Ease of checkout is the number one in-store technology shoppers want this holiday season.

of consumers won’t shop at a retailer that’s experienced a security breach.

of retailers have increased investment to address cyber security concerns/measures compared to previous years.

49% 28%

29%36%

30%

25%

17%

36%

18%

28%



1. Leticia Bufoni won the inaugural women’s event.

2. Brazilian Kelvin Hoefler won the event.

3. Cody McEntire doing one of his many tricks.

4. Nyjah Huston shows off his board skills.

5. Vanessa Torres finished third among the women.

6. Leticia Bufoni sealed her title with a 360 Boardflip.

7. Champion Kelvin Hoefler rides the rail.

EVENT

Super Crown World Championship1 2

4

6

2

3

3

5

7

Rookie Kelvin Hoefler, of Brazil, matched trick

for trick with a number of veteran skateboarders and emerged the world champion at the 2015 Street League Skateboarding Nike SB Super Crown World Championship in Chicago earlier this month. Eight finalists, including Hoefler, competed for a $200,000 first-place prize prize and a Nixon watch in the event that was broadcast on FS1 and on FOX Sports GO. A Brazilian also took the top prize in the inaugural women’s contest, with Leticia Bufoni edging out Vanessa Torres and Alana Smith. Bufoni’s 360 Boardflip over the wedge gap sealed her victory and a $30,000 purse. n



INSIDE INSIGHT

INDEX

Index base of 100 is key to the closing prices of 12/31/14

NUMBERS IN PLAYWeek of 9/30-10/15

change over period

n adidas (ADDYY) Price on 09/30/15 .............$39.83 Price on 10/14/15 .............$43.75

+9.8% Amer Sports (AGPDY) Price on 09/30/15 .............$12.99 Price on 10/14/15 .............$12.91

-0.6% Callaway (ELY) Price on 09/30/15 ...............$8.35 Price on 10/14/15 ...............$8.80

+5.3% Columbia Sportwear (COLM) Price on 09/30/15 .............$58.79 Price on 10/14/15 .............$57.06

-2.9% Deckers Brands (DECK) Price on 09/30/15 .............$58.06 Price on 10/14/15 .............$59.65

+2.7% Fitbit (FIT) Price on 09/30/15 .............$37.69 Price on 10/14/15 .............$35.60

-5.5% l GoPro (GPRO) Price on 09/30/15 .............$31.22 Price on 10/14/15 .............$28.09

-10.0% lululemon (LULU) Price on 09/30/15 .............$50.65 Price on 10/14/15 .............$51.04

+0.7% Nike (NKE) Price on 09/30/15 ...........$122.97 Price on 10/14/15 ...........$125.84

+2.3% Performance Sports Group (PSG) Price on 09/30/15 .............$13.42 Price on 10/14/15 .............$13.43

+0.0% Skechers (SKX) Price on 09/30/15 ...........$134.08 Price on 10/14/15 ...........$128.18

-4.4% Under Armour (UA) Price on 09/30/15 .............$96.78 Price on 10/14/15 .............$97.28

+0.5% VF Corp. (VFC) Price on 09/30/15 .............$68.21 Price on 10/14/15 .............$70.31

+3.0% Wolverine Worldwide (WWW) Price on 09/30/15 .............$21.64 Price on 10/14/15 .............$20.32

-6.0%

Retail: 80 i19.8%

Brands:111 h11.2%

change over period

Big 5 Sporting Goods (BGFV) Price on 09/30/15 .............$10.38 Price on 10/14/15 .............$10.36

-0.1% l Cabela’s (CAB) Price on 09/30/15 .............$48.36 Price on 10/14/15 .............$43.46

-10.5% Dick’s Sporting Goods (DKS) Price on 09/30/15 .............$49.16 Price on 10/14/15 .............$47.08

-4.2% Finish Line (FINL) Price on 09/30/15 .............$19.30 Price on 10/14/15 .............$18.37

-2.9% Foot Locker (FL) Price on 09/30/15 .............$71.97 Price on 10/14/15 .............$68.52

-4.7% Hibbett Sports (HIBB) Price on 09/30/15 .............$35.01 Price on 10/14/15 .............$35.40

+1.1% Genesco (GCO) Price on 09/30/15 .............$57.07 Price on 10/14/15 .............$60.15

+5.3% Kohl’s (KSS) Price on 09/30/15 .............$46.31 Price on 10/14/15 .............$45.01

-2.8% Macy’s (M) Price on 09/30/15 .............$51.32 Price on 10/14/15 .............$49.77

-3.0% Pacific Sunwear (PSUN) Price on 09/30/15 ...............$0.32 Price on 10/14/15 ...............$0.29

-9.3% Shoe Carnival (SCVL) Price on 09/30/15 .............$23.80 Price on 10/14/15 .............$22.24

-6.5% Tilly’s (TLYS) Price on 09/30/15 ...............$7.36 Price on 10/14/15 ...............$7.51

+2.0% u Walmart (WMT) Price on 09/30/15 .............$64.84 Price on 10/14/15 .............$60.03

-7.4%

n Zumiez (ZUMZ) Price on 09/30/15 .............$15.63 Price on 10/14/15 .............$17.57

+12.4%

n Largest Gainers

Retail Zumiez: Shares continue recovery despite sixth consecutive month of negative comparable store sales in September.

Brands Adidas: Shares have risen 18 percent in last month. More on brand’s progress should be revealed during Nov. 5 conference call.

l Largest Decliners

Retail Cabela’s: With the hunting season lurking, more should be shed about direction during Oct. 22 conference call.

Brands GoPro: Facing softer consumer demand and a contraction in prices ahead of holiday, according to Piper Jaffrey.

u Other Notables

Walmart shares took their biggest single-day hit in 15 years when the retailer forecast flat FY16 revenues. More on page10.

The Inside Insight Index is our opinion of what we think are the 28 most important public companies in the industry, 14 vendors and 14 retailers. Space considerations prevent us from tracking more, but we will make changes over time.




SPORTSTATS

Paint by Numbers: Holiday Forecasts


$105 BILLION


Forecast overall holiday sales growth by the Intl. Council of Shopping Centers, National Retail Federation and FTI Consulting, respectively. NPD is predicting 2.8-3.2 percent growth versus its 3.5 percent growth forecast in 2014.

Mean spend on holiday shopping, up five percent from 2014. (The NPD Group) ICSC says average spend will be $702.

Increase in third quarter e-commerce revenues (top); percentage of e-commerce transactions made from phones and tablets in third quarter (bottom). (Custora)

Online sales, expected to grow 6-8 percent, could reach this threshold.

They grew 5.8 percent during the Nov.-Dec. 2014 timeframe.

(National Retail Federation)

Percentage of shoppers who will use online research before making a purchase. (NPD)

Percentage of consumers planning to spend more this holiday season versus those planned to spend more in 2014. (NPD)

Holiday budget of Millenials

that will be spent on travel and

entertainment. (PwC)

Average holiday sales growth over the

past decade (top), decline in 2008 holiday

sales (bottom).

Retail price of item eligible for layaway at Walmart versus $15 during the 2014 season.

3.3, 3.7 and 3.9% 52%

h11.8 PERCENT h28.7 PERCENT

h2.5 PERCENT

15%vs.12%

+60% $10 $619

i4.6 PERCENT


55,000+ readers. 3,600+ attendees. learn more: formula4media.com

subscribe: store.formula4media.com / connect: 516-305-4710

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One for Each Finger10 Reasons To Sell Gloves

Socks= StyleThe Hottest Apparel Category

Welcome To The HoodieJackets Change with the Times

Brace for the TopA Sports Medicine Roundtable

RED ZONE

THE FOOTBall BuSinESS

WOrkS On a SaFEr gamE

plan FOr THE FuTurE

A FormulA4 mediA PublicAtion / mAY 2015

FootWeArinSiGHt.com • mAY/June 2015

dress sneakers Fitness stars super sandals

2015 GOLD MEDAL SERVICE AWARDSPAGE 36

COMFORT’S NEW ANGLEICONIC BRANdS ARE PuTTING A NEW SPIN ON A TRAdITIONAL CATEGORy

mAY/June 2015 • A FormulA4 mediA PublicAtion

TRENDS IN APPAREL & FOOTWEAR DESIGN AND INNOVATION TEXTILEINSIGHT.COM

Spring Trade Shows A Seasonal review

Footwear Spotlight material innovations

Sourcing Strategies news Here & Abroad

Women’s Specific bold Activewear Styles

sMarter Better Fasternew tech and trends driving Modern Manufacturing

bodyglide.com

balega.com

hokaoneone.com

pro-tecathletics.com

nathansports.com

sofsole.com

The NewsMagaziNe for ruNNiNg specialTy reTailers • ruNNiNgiNsighT.coM • JuNe 15, 2015 • Vol.7, No.11

Preview The Running &

Fitness Event For Women 2015

STreNGTHWomen’s Market

On The Brink

STyle& Power

SPONSORED BY

HoT New ProDUCTSRunning & Fitness Gear

TreNDS FashionablePerformers

The Endless Winter

OUTDOORINSIGHTMAG.COM RETAIL ROUNDTABLE: WINTERING THE ECONOMY

A FORMULA4MEDIA PUBLICATION • JANUARy 2015

NEW PRODUCTS

GOGGLES

SLEEPING BAGS

JACKETS

BOOTS

BASE LAYERS

GADGETS

SUNGLASSES

HATS

SNOWSHOES

SOCKS

SKI GEAR

HARDWARE

HOT BRANDS

RETAIL INSIGHT

AND MORE!

The Search for the

Perfect Trend

original content. market specific. face-to-face.

Your Niche is Our Niche

A FormulA4 mediA PublicAtion / mAY/June 2014

We gave five different women $200 each to go shopping for athletic apparel, footwear and gear. Find out what they told us.See page 32.

Grace Ann Greyson, a personal trainer

and long-distance runner, and a

member of our consumer focus group.

YOga, run, Train Standout new products

pOWEring upHot Compression apparel

iT’S STuDiO TimE gym Footwear Trends

FuTurE OF FiTnESS The next generation

WHY WE BUY WHAT WE BUY

REAL TALK

Show Report: Outdoor RetailerWinter Market 14

INSIDE5 Top Take Aways From Salt LakeMarket Direction & Major ThemesFall/Winter 2014 Comes Together

Macro Trends & Micro InfluencesHot Looks For Cold Comfort

Notes, Quotes & Newsy TidbitsStats And Growth Categories

Who Nailed It At The ShowThe Show Itself

Kurt GrayRiffs, Rants, Perspective

read more inside

Emily’s Notebook

FEBRUARY 2014 TRENDINSIGHTMAG.COM

Game-Changing Push

INSIDEinSiGHtSPortS. SPeciAltY. retAil. buSineSS.

tm

Nike knows that to reach its lofty annual revenue goal of $50 billion by 2020 it needs to change the rules of

the game. The brand has done that before with advertising and product. But now the company is prepared to just do it with a less sexy or provocative component of its global business, yet just as important — the supply chain.

Swoosh rivals and the industry-at-large should take heed.

Flex, a $26 billion, publicly traded company with expertise in design, engineering and supply chain management, has struck an alliance with Nike that is allowing the sporting goods industry leader to test new methods of manufacturing, automation techniques and “broad disruptive technologies.” With the Milpitas, CA, firm preparing a product customization program near Nike’s Memphis, TN, distribution center, Nike sees the relationship over the longer term helping it develop an eco-system of suppliers and vendors that will support sustainable manufacturing closer to major markets. And rather than keep its Flex findings in-house, Nike is vowing to share and collaborate on them with its entire sourcing base.

Eric Sprunk, Nike COO, admits that

“changing an industry that has operated in the same way for 50 years is hard work,” and confirmed the Flex relationship “will be a catalyst to move our product creation forward unencumbered by the way things have been done in the past.”

Flex is being leaned on to help the industry leader, which is opening a 125,000-square-foot advanced product creation center on campus this month, to rethink its entire footwear manufacturing process. This includes the challenge of materials management. Already the company has introduced a robotics solution to paint shoe midsoles, eliminating a laborious and wasteful process that involved taping non-targeted areas. Already on deck: a personalized, midsole cushioning system that is said “to open up design possibilities that don’t exist today,” making way for “tuned and engineered” midsoles for every athlete.

Nike, whose current $30.6 billion business last year moved 1.1 billion units through its supply chain, 700 contract factories, 58 distribution centers, 20,000 accounts and 110,000 retail doors, admits that it needs to reduce complexity in operations and also “leverage its size to make responsiveness a competitive advantage.” n

SPONSORED BY:

Richie Woodworth,

approaching the decade

marker on his industry

run at Saucony, offers up

his views on the brand’s

running business, the

segment as a whole and

what it takes to manage

through change.

Tilly’s moving ahead under

former president. PAGE 6

ShrinkingBankrupt City Sports faces

extinction without buyer.

Acquisition Polartec takes on United Knitting.

Slammed Walmart shares take big hit after

forecasting profit drop.

liSTEn TO THE pODCaST

http://runninginsight.com

http://outdoorinsightmag.com

http://balega.com

http://bodyglide.com

http://hokaoneone.com

http://tecathletics.com

http://nathansports.com

http://sofsole.com

http://footwearinsight.com

http://textileinsight.com

http://trendinsightmag.com




SPORTSTATS

BTS Report Card


Source information provided ShopperTrakSource information and Illustration provided by NRF

Six Tips to Drive Engagement and Sales During the 2015 Holiday Season

Shopper Visits

2013 2014 2015

1. Optimize Digital Programs to Improve Viability as a Purchase Destination. 56 percent of shoppers say their first stop when researching a purchase is a search engine, according to PwC.

2. Recognize Shoppers’ Preferences via Mobile and Related Technologies. 80 percent of shoppers find it useful when a retailer sends emails featuring recommended products, based on previous purchases, according to eMarketer.

3. Influence Purchases Through In-Store Innovations. 84 percent of mobile smartphone users have acknowledged using mobile phones in stores for making a purchasing decision, according to Deloitte.

4. Understand Your Shoppers and their Preferences and then Provide a Personalized Retail Experience. 60 percent of organizations are seeing a positive ROI from personalization technologies, according to Accenture.

5. Know Your Offering, Then Hire, Train and Schedule Seasonal Associates Accordingly. 61 percent of consumers expect sales associates to be knowledgeable about products, according to Deloitte.

6. Communicate With Shoppers and Build Loyalty via Social. The top 500 retailers earned $3.3 billion from social shopping in 2014, up 26 percent from 2013, according to the Internet Retailer’s Social Media 500.

Busiest Shopping Day In 2013 and 2014, the busiest day nationally was the Saturday of NRF Calendar Week 26. The lengthen-ing of the Back-to-School season and some severe weather in the South pushed the busiest day in 2015 nationally back one week to the Saturday of NRF Calendar Week 27.

Labor Day PerformanceDuring the 2015 Back-to-School season, Labor Day landed in NRF Calendar Week 32, one week later than in previous years. Shoppers had an extra week to finish their shopping, causing lower weekly levels of visits spread over a longer period. As school districts altered start dates, peak shopping weeks shifted accordingly.

NEWS & NOTES

Cougar Sport, a marketer of activewear into the mass market since 1983, took a legal punch against Adidas America late last month. The New York company filed a complaint for declaratory judgment in federal court, alleging its longtime “2 Pipe/2 Stripe” design does not infringe on Adidas’ Three-Stripe mark since the rival “unreasonably delayed bring suit and is barred by the doctrine of laches.”Escalade Sports acquired Goalsetter Systems, a premium,

Made in the USA brand of in-ground basketball goals for residential, institutional and commercial use, last month from Co-Line Manufacturing. The deal is forecast to be accretive to Escalade’s results next year. Field & Stream banner opened its fifth store in Pennsylvania and 19th nationally in Camp Hill, PA, on Oct. 15.Kantar Retail has struck a strategic partnership with Content Analytics to offer solutions for optimizing brands and retailers

online presence and increase their ecommerce revenues.Dick’s recently opened three stores in Salem, NH; Leesburg, WA and its 636th location in Brownsville, TX.PayPal is expanding its “Return Shipping on Us” service that covers the cost of online returns for merchandise purchased between Oct. 13 and Jan. 31, 2016. T.L. Fritts, of Winnetka, IL, is closing its doors in December.In & Out: Bob Hurley, founder of the Hurley brand owned by

Nike, is retiring as the company’s CEO to “focus on building and cultivating the (surf) community and extending Nike’s relationship with elite athletes. Nike veteran Bob Coombes, VP/GM of Hurley, is taking over management of the Hurley business.Under Armour’s Brad Dickerson, company COO since early this year and CFO since 2008, is stepping down in Feb. 2016 to pursue an executive position in another industry. UA’s COO responsibilities will be divided.

23 24 25 26 27 28 29 30 31 32

Sho

pp

er V

isits

NRF Calendar Weeks 23-32
