Reebok’s Performance Run Strategy
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Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.
Today we're diving into Reebok's strategy in performance run and looking at a preview of Foot Locker's earnings. Plus, Anne Klein launches sneakers.
Here's what you need to know.
Inside Reebok’s Strategy to Become a Major Player in Performance Running Shoes
The performance running shoe category is hot, and Reebok is the latest brand looking to capture a piece of the market.
“Running is a massive category, and we have heritage in this space, so we’re not an outsider. We’ve maybe been inconsistent, but we’ve always had a position in running and have had great products,” Reebok president and chief executive officer Todd Krinksy told FN. “The consumer is certainly open to more players than they were four or five years ago when they kept their choices between Adidas, Brooks and Nike. They’re open to challenger brands more than ever before, and [willing] to trying new things.”
The next phase in Reebok’s journey in performance run will begin on April 4 with the release of the FloatZig 1. Reebok built the road running shoe with its responsive Floatride Energy Foam, as well as its acclaimed Zig Tech technology, identifiable by a geometric design that’s familiar to most sneaker consumers. This pairing, Reebok explained, cuts down on excess weight and stiffness to allow for optimal energy return for the everyday runner.
Looking ahead, Reebok has plans to expand its FloatZig range of products. Aside from the FloatZig 1, Reebok will also release the FloatZig Symmetros on April 1, an extra stable shoe built for a supportive ride on longer miles. It will retail for $150. And in the fall, Reebok confirmed it will release the FloatZig X1, which is a model built with a carbon-fiber plate, as well as a trail running shoe, the FloatZig Adventure.
Foot Locker Earnings Forecast: Can the Retailer Buck the Weak Athletic Trend?
Foot Locker‘s shares have more than doubled in the last six months — and ahead of its fourth quarter and full-year earnings report on Wednesday, analysts are looking to see if this jump is justified and sustainable. Two big factors: the tepid state of consumer spending and the chain’s reduction in Nike product.
The shoe retailer in November narrowed its outlook for the fiscal year 2023 and expects sales to be down between 8 percent and 8.5 percent and Non-GAAP EPS to be between $1.30 and $1.40. Comp sales are expected to be down between 8.5 percent and 9 percent.
“If the company executes very well over the next 24 months, the stock’s current valuation is justified and the stock should tread water,” Wedush analyst Tom Nikic said in a Monday note to investors. “And if something goes awry, there’s a lot of multiple compression that could occur.”
Anne Klein Steps Into Sneakers as Part of Larger Footwear Evolution
After years of refining its footwear category, Anne Klein is making its first significant push into sneakers.
As it embarks on the move, the company is getting inspiration from the late designer’s famous quote: “Clothes won’t change the world, the women who wear them will.” A more footwear-specific version of the mantra will serve as a branding element for the new collection: “Shoes won’t change the world, the women who wear them will.”
Launching for spring 2024 at a time when the category has never been more competitive, the label debuts its lifestyle sneaker collection with three initial styles: the Runner, the Confident and the RiseUp. The new Runner sneaker comes in four colorways and features stretch laces for a slip-on function as well as a wedge height construction that lifts the wearer’s foot for both support and height.
“We wanted to be really thoughtful and intentional on how we approach our customers,” Anne Klein Shoes creative director Paula Koumoundouros told FN during an exclusive walkthrough of the new sneaker collection last week. “So, we did a lot of research, technical design aesthetic, in all ways, shapes, forms and proportion. We paid very close attention to proportion, and making sure we’re really giving her something special that stands out from the crowd.”
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Ejecutivo de ventas en jjd comunicaciones limitada
5 个月No compren nada envían los productos mal y no hacen cambios y la post venta es un asco !
Vice President of Business Development @ GXO Logistics | Business Development, Supply Chain Management
8 个月This brand will always be special to me personally. Good come back story
Sales & brand strategist | Wholesaler | Photographer
8 个月Imagine calling Reebok a challenger brand. Joking aside, the category is ripe for more disruption. The dominant players have overloaded performance athletic stores with too many SKUs; too many choices. One logistical hiccup and the large market share a brand has built at a key retailer is gone. I hear from independent retailers all the time that they want to drop SKUs and diversify their assortments to mitigate retail disaster. The time is now for niche brands like Salomon Tracksmith Diadora hylo athletics Reebok Under Armour and other brands on the fringe that are actively innovating to amplify the performance running category.
Next Trend Realty LLC./wwwHar.com/Chester-Swanson/agent_cbswan
8 个月Thanks for sharing.