Arc’teryx Leads Amer Sports' Q2 Beat

Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.

Today we dive into Amer Sports' earnings. Plus, Coco Gauff has a new signature shoe with New Balance and Keen launches a new work sneaker to win over Gen Z trade workers.

Here's what you need to know.

Amer Sports Raises Guidance After Q2 Beat, Led by Arc’teryx

Amer Sports, Inc. raised its guidance for 2024 after posting Q2 sales and earnings results that beat its expectations.

Amer Sports chief executive officer James Zheng said that the company’s strong results, led by its Arc’teryx brand, have positioned it for a strong 2024.

Within Arc’teryx, footwear sales grew more than 100 percent year-over-year in Q2. Penetration of the footwear business also grew from six to 10 percent and the brand plans to reach 20 percent penetration over the next few years. Arc’teryx's best selling trail running shoe, the Norvan LD 3, is still the brand’s top shoe model, though newer models like the Kragg have been recent hits as well.

“We see footwear as probably the most substantial economic engines of growth inside the company,” Arc’teryx chief executive officer Stuart Haselden told FN in an interview. “And as we look into the future, the investments and the importance of footwear for our business is one of the most exciting parts of our innovation strategy.”

New Balance to Release Coco Gauff’s Second Signature Tennis Shoe Ahead of the 2024 US Open

Coco Gauff has a new signature shoe with New Balance.

The athletic powerhouse revealed a new look for Gauff on Tuesday, the Coco CG2, which will arrive at retail this week in the launch “Power and Grace” colorway.

“I had as much fun designing and collaborating on the Coco CG2 as I did with the Coco CG1,” Gauff said in a statement. “My relationship with the New Balance team is incredible, and I’m excited to see what people think of the evolution of this shoe.”

The Coco CG2, according to New Balance, “evolves and refines the court-ready performance and the distinctive features of the tennis phenom’s debut signature shoe.”

Keen Utility’s New ‘Work Sneaker’ Wants to Win Over Gen Z Trade Workers

As Gen Z graduates into the workforce, many young people are opting for careers in the trades that require specialized footwear. Now, Keen has a solution for these new workers who don’t want to sacrifice style for utility.

Keen Utility, the brand’s work shoe line, last week launched a “modern work sneaker” that combines the safety features of a work shoe with the comfort and design cues of an athletic court sneaker. Dubbed the “Overton,” the shoe retails for $140 and is meant for people who work on their feet indoors in environments such as factories and delivery hubs and outdoors in jobs like last mile delivery.

The shoes feature KEEN.ReGEN cushioning a lightweight carbon-fiber safety toebox and a slip-resistant rubber outsole, while also paying homage to retro-inspired court looks that are currently popular in footwear.

“We’re focused on the next generation that’s coming into the workspace,” said Todd Lewis, global senior director of product at Keen Utility. “We’re seeing Gen Z be more accepting to [trades] as maybe not just jobs, but as careers.”

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