SGB WEEKLY 1144

OCTOBER 31 2011

The Weekly Digital Magazine for the Sporting Goods Industry

wwwspencocom

Call 1-800-877-3626 to book your orders for 2012 now

RelevanceA collection of casual footwear insoles and accessories that are easy to merchandise and sellA 45 year track record of products that keep people healthy and active Great pricing Terrific customer service

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Pictured The SiestaNew for spring Featuring dynamicsupport in a stylish casual shoe Available in3 colors in both men and womenrsquos styles

WEEK 1144 | SGBweeklycom 3

Copyright 2011 SportsOneSource LLC All rights reserved The opinions expressed by writers amp contributors to SGB WEEKLY are not necessarily those of the editors or publishers SGB WEEKLY is not responsible for unsolicited manuscripts photographs or artwork Articles appearing in SGB WEEKLY may not be reproduced in whole or in part without the express permission of the publisher SGB WEEKLY is published weekly by SportsOneSource LLC 2151 Hawkins Street Suite 200 Charlotte NC 28203 7049873450 Send address changes to SGB WEEKLY 2151 HAWKINS STREET SUITE 200 CHARLOTTE NC 28203 7049873450

NEWS 2011 WORLD SERIES 6 LOUISVILLE SLUGGER Creates Commemorative 2011 World Series Bat 7 MAJESTIC Sets up 45 Centers to Celebrate World Series Winners Rose 2 Hits Chicago ICE Seizes 58 Counterfeit MLB Product Websites

8 UNDER ARMOUR Unveils Basketball Ad Campaign 9 TIMBERLAND Opens Earthkeepers Pop-Up Experience MOVERS AND SHAKERS 10 FINANCIALS FEATURE 12 ADIDAS OUTDOOR SEES TRACTION IN US RE-LAUNCH 20 THE MAKING OF GORE-TEX ACTIVE SHELL DEPARTMENTS 24 CALENDAR


OCTOBER 31 2011

12Page

Editor In ChiefJames Hartford (7049873450 x104)

jamessportsonesourcecom

Senior Business EditorThomas J Ryan (9173754699)

tryansportsonesourcecom

Creative DirectorTeresa Hartford

Graphic DesignerCamila Amortegui

Advertising Sales DirectorCasey Vandenoever (3039977302)

caseyvsportsonesourcecom

Advertising Sales Account ManagerKatie OrsquoDonohue (7049873450 x110)

katieosportsonesourcecom

Circulation amp Subscriptionssubssportsonesourcecom

TechnologyChief Information Officer Mark Fine

VP Research amp Development Gerry AxelrodManager Database Operations Cathy Badalamenti

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TEAM Business

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Sports Executive Weekly

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Group PublisherBill Garrels

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SportsOneSource LLC2151 Hawkins Street bull Suite 200 bull Charlotte bull NC bull 28203

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ISSUE 1144

ON THE COVERAdidas AthletePhoto courtesy of Adidas

Photo courtesy of Adidas

4 SGB WEEKLY OCTOBER 31 2011

In celebration of the St Louis Cardinals World Series win Louisville Slugger created a collectors bat with both the Cardinals and 2011 World Series logos The bat can be personalized with a name to make any Cardinal fan a part of 2011 World Series history Said Rick Redman VP corporate communications for Hillerich amp Bradsby Co makers of Louisville Slugger bats Weve witnessed how great Cardinal fans are over the decades The Cardinals have won 11 World Series Championships second most to the New York Yankees 27 wins We know that Cardinals fans will want to remember this magical 2011 season What better way than with a personalized bat with both the Cardinals and 2011 World Series logos and your own name or message engraved on the bat Its a great keepsake that fans will want to display for years to come

NEWS

WORLD SERIES 2011

St Louis Cardinals fans celebrate outside Busch Stadium during a parade celebrating the teams 11th World Series championship


MAJESTIC SETS UP 45 CENTERS TO CELEBRATE WORLD SERIES WINNERS

In preparation for the crowning of the new World Series Champion Majestic Athletic set up 45 domestic locations in St Louis and other parts of the country to start producing Club-house and other Official World Series Championship gear for fans

Printing did not begin until the final out of Friday nights final game In addition to t-shirts and fleece sewers at Majesticrsquos Easton PA facility and other locations churned out Car-dinals jerseys and outerwear with World Series Champion patches A new option was the Official Clubhouse tees with graphics highlighting the identity of the winning cities includ-ing one depicting the teams rally squirrel

ldquoThis is the most complex and the most exciting challenge wersquove ever had at Majestic but we are readyrdquo said Jim Pisano president Majestic Athletic

With the conclusion of Major League Baseballs 2011 World Series US Im-migration and Customs Enforcements (ICE) Homeland Security Investigations (HSI) and the National Intellectual Prop-erty Rights Coordination Center (IPR Cen-ter) announced the results of Operation Strike Out The operation which com-menced at the beginning of the American League and National League Champion-ship Series resulted in the seizure of 58 commercial websites that sold counter-feit sports paraphernalia HSI special agents also seized 5347 items with a manufacturers suggested retail price (MSRP) of $134862

HSI and the IPR Center have made a major dent in these criminals plans to profit from fan enthusiasm surrounding a very exciting seven-game World Series ndash both in US cities and in cyberspace said ICE Director John Morton Counter-feit products represent a triple threat by delivering shoddy and sometimes dan-gerous goods into commerce by fund-ing organized criminal activities and by denying Americans good-paying jobs

The seizure of the 58 domain names is the seventh phase of Operation In Our Sites a sustained law enforcement initiative to protect consumers by tar-geting counterfeiting and piracy over the Internet In June 2010 the IPR Center began Operation In Our Sites Since its launch in June 2010 the IPR Center has seized a total of 200 domain names and redirected those domain names to a seizure banner

ICE SEIZES 58 COUNTERFEIT MLB PRODUCT WEBSITES

Owner Bill DeWitt Jr of the St Louis Cardinals participates in the parade

Manager Tony La Russa of the St Louis Cardinals acknowledges the crowd


Under Armour unveiled its new Are You From Here campaign for its new Micro G basketball collection Under Armour NBA players Brandon Jennings Derrick Williams Greivis Vasquez and Kemba Walker were on hand at a media event at Openhouse Gallery in New York City last Wednesday night The new collection includes Jenningsrsquo new signature shoe the UA Micro G Bloodline The new UA Micro G Bloodline shoe collection goes on sale November 4 at uacom and at retail stores such as Foot Locker and Finish Line

The campaign will include a 60-second TV spot an extended long-form video and a number of 15-second spots for both TV and digital The creative depicts what it means to train until it hurts put your faith in your team and come from a place where the game comes first Shoot locations include legendary gyms Rice High School in New York City and Roman Catholic High School in Philadelphia The commercials began airing on November 1 on ESPN BET and The NFL Network Print and digital partners include

UNDER ARMOUR UNVEILS BASKETBALL AD CAMPAIGN

Complex Media Network Dime Magazine Slam Magazine and Pandora The new advertising will also be available on facebookcomuabasketballcom

Jennings Walker and Williams star in the advertising which puts an unfiltered lens on the dedication to training never-quit at-titude and love for team embodied by young basketball players that strive everyday to perform better This is the first campaign the agency produced by CP+B since the advertising agency was awarded the basketball account this past summer

We continue to be passionate about basketball and our new footwear and the look the feel and sounds of this campaign fit our brand perfectly said Steve Battista senior vice president cre-ative Under Armour Are You From Here is more than a literal question about where youre from its about where youre coming from Its about whats inside you whats empowering you to be bet-ter every single day

Brandon Jennings new signature shoe the UA Micro G Bloodline from the new Micro G basketball collection by Under Armour

From left to right - Kemba Walker Greivus Vasquez Derrick Williams

NEWS


Timberland last week opened up a temporary pop-up booth for its Earthkeepers brand at the Flatiron Pedestrian Plaza in New York City Made with reclaimed and recycled materials the booth showcases the latest eco-minded footwear from the Timberland Fall 2011 Collection and also educates and inspires consumers to be heroes for nature Brand activists are being deployed in the area surrounding the Earthkeepers pop-up booth to reward unsuspecting New Yorkers for random acts of Earthkeeping including simple everyday acts such as recycling a water bottle or carrying a reusable shopping toteConsumers will also have an opportunity to plant a tree via the Timberland ldquoPlant a Treerdquo ap-plication (on the Timberland Facebook page (you plant a virtual tree theyrsquoll plant a real one) Timberland has already planted over one million trees worldwide and has committed to plant-ing five million more by 2015 In addition a representative from ldquoMillion Trees NYCrdquo will be on-hand to educate consumers about local tree planting efforts and how they can get involved in their own neighborhoods The booth will be open from 11 am to 6 pm daily Another will take place in San Francisco next month

TIMBERLAND OPENS EARTHKEEPERSPOP-UP EXPERIENCE

MOVERS amp SHAKERS

Footbalance has tapped Tom Jungell as the new Group CEO for Footbalance Oy of Helsinski Finland

Westcomb Outerwear hired Tommy Knoll to lead all wholesale and retail sales efforts in the United States Most recently Knoll served as business development manager for Sport Hansa and managing director of CAMP USA

Zoot Sports has named Chris Bogue as vice president of sales and marketing for North America Previously he held high-level sales and marketing positions with Pactimo Pearl Izumi Casio and K2 Sports

Fred Trezise of Trezise amp Associates will begin handing off his responsibilities as head rep with the brand to the Dedication Sports Group of Ithaca NY Trezise has represented Marmot for the past 15 years in the Mid-Atlantic States

Big 5 Sporting Goods Corp appointed Dominic DeMarco to serve on its board of directors and expended the board to seven members

La Sportiva NA hired Kevin Fonger who spent the last three years running ActiveGearReviewcom as its marketing manager

Spyder Active Sports strengthened its sales presence in Western Canada this week by appointing Shannon Tomasek as the new sales representative in Alberta and The Prairies

Brooks Range Mountaineering Equipment announced that Jim Kaiser will handle all sales throughout New England

G3 recently added new sales representation in the Rocky Mountain territory as well as expanded marketing support in its Van- couver headquarters


Amer Sports reported net sales for the third quarter increased 17 percent in local currency terms to euro5592 million ($792 mm) The growth was said to be particularly strong in Winter Sports Equipment which grew 24 percent in currency-neutral terms Footwear (+36 percent c-n) and Apparel (+30 percent c-n) due to stronger pre-orders com-pared to 2010 and earlier deliveries in Winter Sports Equipment and Apparel Comparable net sales increased in EMEA by 22 percent the Americas 12 percent and Asia Pacific by 13 percent

Group EBIT grew by a third in euro terms to euro744 million ($105 mm) In local currencies increased sales volumes contributed euro476 million ($67 mm) to EBIT growth and higher gross margins by euro20 million ($28 mm) Operating expenses increased by euro240 million ($34 mm) driven by increased sales and distribution costs

Net earnings rose 17 percent in euro terms to euro553 million ($78 mm) and earnings-per-share were euro045 (64 cents) versus 038 (49 cents) in the year-ago period

rdquoThe third quarter was strong with good growth in Winter Sports Equipment Footwear Apparel Cycling Team Sports and Fitness The growth was further boosted by earlier deliveries compared to 2010 in Winter Sports Equipment and Apparel and our full-year guidance remains unchanged Racquet Sports was still adversely impacted by the overall soft tennis market Irsquom especially pleased with the progress in our strategy to grow faster in footwear and

The best Callaway Golf management could come up with when re-porting third quarter results was that they were in line with lowered expectations Tony Thornley who took over the CEO reins four months ago said the results also reflect the impact of a challenging golf equipment market and the mistakes they have made in executing a coordinated product and marketing plan based on golf consumers preferences

Third quarter consolidated sales totaled $1732 million down 14 percent versus the year-ago period Sales in the US declined 30 percent to $739 million in the quarter and International sales were essentially flat to last year at $994 million The US repre-sented 427 percent of total sales in Q3 compared to 434 percent of total revenues in Q3 last year The increase in the International mix was due primarily to the launch of the new Legacy Black line of products in Japan in connection with their second selling season Excluding the positive impact of currency rates International sales would have declined 70 percent for Q3 and total sales would have declined 6 percent for the period

apparel The growth which was accelerated in 2010 continued and in the first nine months of 2011 softgoods grew by 32 percent We stay on the path set last year as our strategy is working We continue executing the strategic programs guided by our financial targets with strong focus on synergies internal improvement and organic growthrdquo

Winter amp Outdoor division net sales totaled euro3957 million ($560 mm) representing an increase of 24 percent in local currencies Net sales growth was driven by Winter Sports Equipment Footwear and Apparel

Ball Sports division net sales totaled euro1067 million ($151 mm) and was flat to last year in local currencies Racquet Sports decline of 9 percent was mainly driven by the soft tennis market Team Sports continued its good performance and net sales in local cur-rencies increased by 12 percent

Fitness division net sales represented by the Precor business totaled euro568 million ($80 mm) an increase of 10 percent in local currencies In local currencies the Americas was at last yearrsquos lev-el EMEA increased by 24 percent and Asia Pacific by 36 percent

Looking ahead Amer Sports expects its full-year net sales in local currencies to grow by approximately 9 percent and EBIT margin excluding non-recurring items to improve by approximately one percentage point from 2010

AMER SPORTS FINDS LIFT FROM WINTER amp OUTDOOR GROWTH IN THIRD QUARTER

Gross margins were down 60 basis points to 274 percent of sales Margins were positively affected by an improvement in mix and foreign currency offset by unfavorable manufacturing and ab-sorption due to lower unit volumes seen earlier this year

After charges the net loss for the quarter more than tripled to $652 million or $101 a share from a loss of $209 million or 33 cents per diluted in the year-ago period

On a conference call with analysts company CFO Brad Holiday said Callaway continues to implement actions this year to position the company for ldquoa return to sustained profitability beginning in 2012rdquo He said that while this turnaround will take more than a year it will begin with a return to profitability next year

ldquoWe are on track to achieving the annualized targeted savings of $50 million we communicated last quarterrdquo said Holiday ldquoOur current estimate shows that approximately $35 million of these savings will affect operating expenses with the remaining $15 million impacting gross margins due to reductions in our cost of goods sold and sales discountsrdquo

CALLAWAY GOLF LOSSES WIDEN IN Q3


SPORTSWEAR POSTS STRONG Q3 AS FOOTWEAR SURGES AND OUTERWEAR DIPS With the help of booming international growth explosive gains for Sorel and solid increases for Columbia and Mountain Hardwear and improved margins Columbia Sportswear Companies third quarter earnings jumped 294 percent With a 7 percent increase in its Spring 2012 wholesale backlog the outerwear giant also raised its outlook for the year

On a conference call with analysts Tim Boyle president and CEO said the results reflect tight cost controls as well as the benefits of ongoing investments in its infrastructure and its brands

Sales improved 125 percent to $5668 million including a benefit of 3 percentage points from changes in currency exchange rates In July Columbia projected a low-double-digit percentage increase in sales

By brand Columbia brand sales increased 41 percent to $4478 million with growth of approximately 20 percent in Latin America amp Asia Pacific (LAAP) and Europe Middle‐East amp Africa (EMEA) regions partially offset by low single‐digit declines in the US and Canada Footwear and accessories amp equipment were the largest contributors to the growth The Columbia brand comparison reflected a low double-digit Fall 2011 backlog growth rate previously disclosed and was negatively affected by earlier shipment of international dis-tributorsrsquo advance Fall 2011 orders in the second quarter of 2011 compared with a larger proportion of Fall 2010 advance orders that did not ship until the third quarter of 2010

Sorels sales jumped 116 percent to $720 million with growth in all regions but mostly driven by the EMEA region Sorels comparison reflected a strong Fall 2011 backlog and also benefited from more timely production allowing a greater than planned proportion of the brandrsquos Fall 2011 backlog to be shipped during the quarter versus the prior year

Mountain Hardwears sales increased 170 percent to $447 million with contributions by all four geographic regions Montrails sales increased 95 percent to $23 million

By region US sales increased 24 percent to $3336 million driven primarily by 28 percent growth in direct-to-consumer sales on strong comp growth the addition of 3 outlet stores and e-commerce gains Boyle said that globally the companys direct-to-consumer business will represent approximately 25 percent of its full-year 2011 sales US wholesale sales decreased 1 percent reflecting a planned shift in the timing of shipments of Fall 2011 advance orders between the third and fourth quarters compared with Fall 2010

CROCS INC SEES DOWNWARD REVISION AS A BLIP

Crocs third quarter results came in line with its downwardly-revised guidance given on October 17 but Crocs management stressed on a conference call with analysts that the revision was an anomaly and demand for the brand remained strong

Third quarter revenues increased 275 percent to $2749 million while earnings advanced 208 percent to $302 million or 33 cents a share versus its updated range of 31 cents and 33 cents Before the updated guidance EPS was projected at 40 cents on sales of $2800 million

On a conference call with analysts company President amp CEO John McCarvel said the shortfall was primarily in its US direct-to-consumer channel and to a lesser extent Europe due to challenging economies overseas McCarvel believes Crocs outlets and kiosks in the Americas underperformed because products werent as promotional as the prior year and versus competitors Back-to-school promotions also came out too early in August and the stores lacked enough wear-now merchandise given the warm-weather conditions On the other hand the performance of its full-price stores in the Americas was in line with its initial outlook as consumers responded to new fallwinter products Added McCarvel We view the shortfall more as an execution issue versus a broad judgment call by consumers about our brand

Crocs is also successfully broadening into a more casual brand with a good reception to its crocband translucent sneaker and Chameleon collections The next step in the US according to McCarvel is to build its fallwinter business Fall 2011 is Crocs most diverse with several boot and shoe styles performing well in early-fall selling But McCarvel added that Crocs needs to be more effective in promoting our fall business in order to alter consumer perception that Crocs is just a warm weather brand


John McCarvel Crocs President amp CEO


Propelled by robust demand for Ugg across distribution channels and geographic regions Deckers Outdoor Corp reported net income rose 483 percent in the third quarter on a 491 percent revenue gain EPS of $159 a share easily topped Wall Streets consensus estimate of $136 a share prompting the company to increase its guidance for the full year Excluding the acquired Sanuk brand revenues would have still increased 435 percent for the quarter

Ugg revenues soared 473 percent to $3767 million The sales gain was primarily attributable to higher sales in the UK and Benelux regions resulting from the conversion to wholesale operations in these markets higher domestic fall wholesale sales and an increase in sales of the fall line at company-owned stores For the full year Uggs revenues are now expected to increase by 32 percent up from its previous expectation of 25 percent

On a conference call with analysts Angel Martinez president and CEO said Uggrsquos gains were broad-based with the brand witnessing a meaningful pick-up in the demand for our expanded line of mens sneakers casuals boots and slippersrdquo Boots included equestrian cold weather fashion Classics led by the Sparkle and the Bailey Button Triplet and wood bottom styles Among its casual mix clogs slippers and sneakers all sold ldquovery wellrdquo The introduction of its Italian handcrafted Ugg collection was also well received Menrsquos helped by the debut of its new ad campaign featuring New England Patriots quarterback Tom Brady ldquohad a strong quarter toordquo said Martinez

At Teva sales increased 73 percent to $147 million in Q3 The sales improvement was driven by an increase in global shipments of fall product including higher sales of closed-toe footwear partially offset by lower reorders of sandals in the US The quarter also benefited from the conversion to a wholesale business model in the UK Martinez said the company is very happy with the sell-through of Tevas closed-toe product and continues to see more than 20 percent top-line gains for the brand this year

Sanuk which was officially acquired on July 1 contributed $156 million in revenues in the quarter Sanuks sales for the second half of the year are now projected to be in the high-$20 million range versus Deckers previous guidance in the low-$20 million range

Combined sales of Other Brands - TSUBO Ahnu MOZO and Simple - decreased 117 percent to $74 million The decline primarily reflects the phasing out of Simple which is being discontinued at the end of 2011

Consumer Direct sales leapt 721 percent in the quarter to $347 million fueled by an aggressive store opening schedule in Asia and a 154 percent comp sales gain E-commerce sales increased 183 percent to $103 million in the quarter driven by higher Ugg brand sales on both its US and UK websites

Puma SE saw third quarter sales growth moderate just a bit from its nine-month year-to-date pace but still posted a solid double-digit increase in revenues on a currency-adjusted basis Gross margins and net income remained flat to last yearrsquos third quarter

Puma management reiterated the companyrsquos target for euro3 billion in sales for the full year In light of Pumas ldquoBack on the Attackrdquo growth strategy investments and expenses are expected to ldquoremain at a high levelrdquo and gross profit margins will continue to be ldquostressed based on procurement price volatilitiesrdquo Management said they continue to foresee an improvement of net earnings in the mid-single-digits for the full year

ldquoPuma posted a very solid sales performance for the fifth consecutive quarterrdquosaid Franz Koch CEO of Puma SE rdquoThis underpins our 5-year growth strategy which is already delivering results After a strong performance in the first nine months of this year we are now approaching our sales target of euro3 billion for the full year and despite continuing cost pressures we maintain our forecast of an improvement in net earnings in mid single-digitsldquo

Third quarter consolidated sales increased 73 percent to euro8416 million ($119 bn) or a 102 percent increase on a currency-adjusted basis representing the ldquomost successful quarterly performance in the companyrsquos historyrdquo Asia and Latin America drove the increases with double-digit growth Global brand sales including distributors grew 103 percent currency-neutral

AsiaPacific grew 164 percent currency-neutral to euro1960 million ($278 mm) Management said lightweight running gear such as the Faas range and womenrsquos fitness products (Bodytrain) drove the overall growth in this region

EMEA posted a 95 percent currency-neutral revenue increase to euro4106 million ($581 mm) Russia Turkey Spain and Germany were called out as contributing to the growth

Sales in the Americas grew by 67 percent currency-neutral but were down 07 percent in euro terms to euro2350 million ($333 mm) Puma said Latin America delivered a ldquoremarkable top-line performancerdquo reflecting broad-based double-digit growth across all countries in the region while North America had to comp against strong double-digit growth numbers from the previous year

SEES FLAT EARNINGS GROWTH IN THIRD QUARTER

UGG AGAIN DRIVES REVENUES FOR DECKERS OUTDOOR


Skechers USArsquos third quarter earnings tumbled 772 percent to $83 million or 17 cents a share as total sales slumped 257 percent to $4122 million The revenue decline was due to difficult comparisons against Q3 2010 which benefited from strong toning sales at high average selling prices as well as lower than expected sales in the recent quarter across many of its other footwear lines within key wholesale accounts Domestic wholesale revenues were down 48 percent due to the challenging comparisons

On a conference call with analysts COO and CFO David Weinberg

Marking the third consecutive quarter of 40 percent plus revenue growth Under Armour reported third quarter revenues surged 417 percent to $4655 million The companyrsquos owned-retail business and the apparel category continued to drive top-line growth But company officials also indicated that its gaining traction in footwear as well as in securing a foothold overseas

The momentum prompted Under Armour to raise its 2011 revenue outlook to a range of $146 billion to $147 billion representing growth of 37 percent to 38 percent over 2010 revenues Under Armour previ-ously estimated revenue of $142 billion to $144 billion or a 33 percent to 35 percent increase for the year Net earnings in the quarter climbed 319 percent to $460 million or 88 cents a share topping Wall Streets consensus estimate of 83 cents a share

Apparel revenues grew 313 percent to $3634 million in the quarter with strength across mens womens and youth Mens was driven in part by growth in the training category including Armour Fleece and Storm Fleece while both graphic and hunting easily outpaced overall growth during the quarter said CFO Brad Dickerson on a conference call with analysts

In womens Armour Fleece was particularly a stand out while strong growth was seen in running led by the Escape program of both tops and bottoms

Footwear revenues vaulted 967 percent to $520 million last year representing 11 percent of revenues Solid results were seen from back-to-school running product led by the Split series with strong consumer response seen for outdoor boots as well From a timing

standpoint the bulk of Under Armour basketball footwear shipped dur-ing the third quarter of this year versus the fourth quarter of last year when the collection was first launched Under Armour also shipped nearly $5 million in footwear orders to its Japanese licensee

Accessories sales jumped 211 percent to $397 million reflecting the move to bring its hats and bags business in-house in January as well as a healthy overall consumer acceptance of its product Hats and bags are projected to contribute $65 million to $70 million in revenues in 2011 Licensing revenue declined 178 percent to $104 million driven by the transition of the hats and bags business in-house

North American sales grew 408 percent to $4327 million while International revenues expanded 539 percent to $328 million representing 7 percent of revenues The International gain was helped by the increased footwear sales to its Japanese license Under Armour opened its first store in China in Shanghai

Under Armours direct-to-consumer revenues increased 73 percent for the quarter representing 22 percent of revenues versus 18 percent in the prior-year period Growth rates for both retail and e-commerce were strong Four outlet stores were opened in the quarter increasing their count to 76 up from 50 locations at the end of last years third quarter Four more openings are set for the fourth quarter Dickerson said e-commerce growth remains robust as we continue to drive both higher traffic and conversion rates year-over-year A new Web platform is expected to go live over the next few weeks with enhanced features and functionality added in 2012

UNDER ARMOUR BOASTS 42 PERCENT Q3 REVENUE GAIN

said the company launched new fitness shoes in the second and third quarters of this year as well as great fall and winter packages result-ing in improved sales for those lines Inspired by its fitness push its core active womens active mens and kids collections are all being redeveloped Skechers first true performance footwear line is also being introduced in the current quarter with a broader offering set for Spring 2012 Said CEO Robert Greenberg Early reads on this line in our own retail stores has been strong and we believe this performance product will also experience solid sell-throughs in our key accounts

USA Q3 PROFIT PLUNGES ON TONING WOES


ADIDAS OUTDOOR SEES TRACTION IN US RE-LAUNCHAdidas Focused on Building euro500 Million in Outdoor BusinessBy Thomas J Ryan


hile taking a measured approach with its fall 2011 re-launch into the US Adidas Outdoor in mid-October confirmed that it is making headway in establishing a

foothold in the US outdoor specialty channel Globally growth for the Adidas Outdoor business has been

explosive Only three years after its re-launch overseas the unit reached euro200 million in sales in 2010 In the first half of 2011 Adidas Outdoors sales vaulted 40 percent outperforming all other areas in Adidas Sports Performance segment

And its a very healthy growth said Rolf Reinschmidt senior vice president and head of the global outdoor unit for Adidas during a press tour for US journalists last month at Adidas headquarters in Herzogenaurach Germany This is not growth in only one market Were growing in every marketIts really really working and we are very proud of the results At the same time it gives us confidence to continue what we are doing We feel very clear that what were doing is the right thing

Much of his presentation outlined the different approach Adidas is taking to the outdoor market versus other sports it targets While the ultimate key to success will be the performance of its outdoor products like other sports categories outdoor takes a more localized and low-key approach he said

We need to earn our way in said Reinschmidt It comes down to more of a humble confident approach than a very aggressive and loud approach You cant be rsquoWe are the big player We buy market sharersquo That does not work Some other brands have big-time failed with that As a big brand we want to act like a small brand

Reinschmidt noted how Adidas at one point had a sizeable outdoor business in the 1970s It was credited with creating the first lightweight trekking shoe SUPERTREKKING that helped Italian climbing legend Reinhold Messner make his first Everest ascent without artificial oxygen in 1978 But Reinschmidt admitted that Adidas kind of dropped the ball in outdoor as the companys focus soon shifted more heavily toward basketball running Olympic pursuits and other areas

Adidas also acquired Salomon in 1999 a deal that included Arcteryx to mark another angle toward reaching the outdoor customer only to sell both brands to Amer Sports in 2005

When Adidas began exploring the outdoor opportunity again for the Adidas brand about seven years ago Adidas management

W

A recent press tour for US journalists at Adidas head-quarters in Herzogenaurach Germany included a visit to Adidasrsquo Walk of Fame


recognized that it needed to be very serious about it and have a long-term vision and plan for it said Reinschmidt The initiative was named Peak 2015 not so much to mark any goals set for that specific year but to show this time Adidas is very committed and very focused to go after this huge opportunity asserted Reinschmidt

Reinschmidt also stressed how Adidas recognized that a different approach would be required to outdoor versus other sports For one Adidas recognized that unlike running football (soccer) or tennis outdoor ranges across a number of activities whether climbing hik-ing skiing trail running or a host of other pursuits

Whereas the other sports we are focusing on are one sport out-door is more like a lifestyle said Reinschmidt Its an attitude of people and when it comes to product its very different In running or football (soccer) the longest duration you wear a product may be two or three hours In outdoor you can wear it up to seven days and 10 hours a day And sometimes your life can depend on it

While Adidas is looking to eventually sit among the leaders in the out-door space as it aims to do in other sport categories it realized that credibility was particularly important in establishing the brand in outdoor

The outdoor community is very very sensitive when it comes to credibility and authenticity said Reinschmidt They donrsquot like big corporate brands because the outdoor business is driven by local specialists in the US and local specialists here in Europe And they dont believe the big brands can do that Credibility for us is very

very important It takes a long time to build a brand up in outdoors and you can lose it very fast We are taking a sustainable long-term approach to this A THREE-PHASE APPROACH WAS SET UP TO RE-EXPLORE THE OUTDOOR OPPORTUNITY

The First Phase - the Establishment Phase running from 2008 to 2011 - focused on creating compelling product The Adidas Outdoor team at its German headquarters has grown to approximately 70 people dedicated solely to outdoor product largely in design and marketing

The TERREX series has particularly put Adidas on the outdoor map in Europe In footwear three TERREX styles ndash Fast X Solo and Fast R to be released in Spring 2012 - have won three straight Outdoor Show Industry awards in Friedrichschafen Germany which Rein-schmidt said had never been accomplished before A particularly innovative feature of the TERREX Fast R is the use of rubber from Continental AG the German auto and bike tire giant that has proven to provide a grip 32 percent better in dry conditions and 30 percent better in wet conditions versus a leading competitorrsquos outsole

Adidas also was among the first companies to partner with WL Gore in using the waterproofing giantrsquos ultralight three-layer fabric Gore-Tex Active Shell To maintain its innovative edge Adidas Outdoor built a team of 200 testers at mountain guide schools across Europe that it works with on a daily basis

Product is the entry way to the world of outdoors noted

Jon Edgar global business unit director outdoor footwearhardware Adidas Outdoor

A heatedsweating mannequin nicknamed Newton tests for moisture-management and breathability


Reinschmidt Specialty stores recommend a product only if you can convince them that the product works Because if the store recommends it and it doesnt perform the consumer will never come back It has to work And in extreme situations the athletes life depends on it

Underscoring the importance of innovation the press tour included presentations by its footwear and apparel teams including Stefan Loerke who heads up Adidas Outdoor apparel and accessories and Jon Edgar who heads up Adidas Outdoor footwear and hardware It also included a peak into Adidas facilities and testing center A highlight was a look into Adidas Athletic Services which produces customized product for its sponsored athletes across sports The press tour was coordinated with a visit to WL Gores headquarters in Feldkirchen Germany for a presentation on its Active Shell tech-nology as well as a visit of Gorersquos garment and footwear labs

The Adidas headquarters tour also included a visit to Adidasrsquo Walk of Fame that showcased Adidasrsquo commitment to innovation over the years while also providing a broad overview of the prominent role Adidas has played in historical sporting events and in the feats of sports legends With a long-time mantra of ldquoOnly the best for the athleterdquo Reinschmidt said itrsquos natural for Adidas to serve the athletic pursuits of outdoor athletes Reinschmidt also said Adidasrsquo history and broad appeal provided it an opportunity position itself as the athletic brand in the outdoors Moreover the overall coloring and styling of Adidas collections speak to the faster and more athletic looks that younger generations are looking for in their footwear and apparel In particular the US market is in need of a younger approach he contended The market in my opinion a little older and darker and I think we are a fresh young and athletic alternative Our

color story is not a typical US color story And I think thats what a smart retailer will realize That this is that next generation - very athletic young and fresh

In his presentation Edgar pointed to the success of the TERREX collection as an example of how Adidas Outdoor wants to drive the market through innovation Said Edgar We want to add something new to [the outdoor market] There are a lot of outdoor brands and we want to take outdoor in somewhat of a new direction and use the strength of the Adidas brand to drive that To lead the outdoor market is a big statement The ambition is to at least start to lead it in certain

The Adidas tour include visits to garment facilities and testing labs

The TERREX Fast R to be released in Spring 2012 undergoing a durability test The shoes Traxion sole with its newly developed Continental rubber compound guarantees the necessary ground adhesion at high speeds and in all weathers


segments of the market in the short term Adidas Outdoors positioning according to Edgar will focus

on creating lightweight product so people can move fast in their activities He described Adidas Outdoors core customer as the next generation outdoor athlete Said Edgar Its someone who is younger and looking for more athletic challenges in the outdoors Sometimes that might be challenges that are done in the day sometimes that might be multi-day challenges For Adidas Outdoor we generally talk about our consumer being 20-plus For basketball or running Adidas might talk about their consumer being a teenager or high school student But for us and with Terrex we really talk about our consumer being 20-plus But compared to other outdoor brands thats already quite a lot younger and this is also very important for us that we differentiate ourselves in the consumer we want to talk to

Beside the investment in innovation Adidas Outdoors first phase was marked by a decision to focus on growing through specialistsrsquo reps with connections to outdoor specialists In the re-launch the brand also initially sought to establish a foothold in the core Alps regions ndash Austria Switzerland and Germany Said Reinschmidt Its a very technical market so if you establish yourself here then its easier somewhere else because then you have a real benchmark China and Russia were also a focus partly because they are both regions where Adidas already operates many stores to ease entry Korea another key technical market was a last region launched in the first phase

The Second Phase - the Expansion Phase running from 2012 to 2015 ndash extended the launches to the US and Japan In the US Agron Inc the long-time accessory licensee for Adidas America was hired as its exclusive distributor to take advantage of connec-tions with Greg Thomsen Larry Harrison and others on Agrons team in the outdoor space It also in September 2011 opened the first Adidas Outdoor store in Harbin in Northern China

In the second phase marketing also increased in importance On the grassroots side one of the most successful has been Rock Stars a bouldering event that was launched this year in Australia at Area 47

combining rock music and rock climbing In the years to come local Rock Stars events will occur in the US and other parts of the world with a global final ending in one location Said Reinschmidt The first one was very well received and for the community it was a milestone in terms of a new competition format for the athletes

Adidasrsquo outdoor athletes include the Huber brothers renowned for breaking records for speed climbing as well as Sasha DiGiulian who in October became the only US climber to reach the finals in the International Federation of Sport Climbing (IFSC) Lead Climbing World Cup held in Boulder CO Adidas has also renewed its partnership with Reinhold Messner

In the US the brand launched in 300 doors in fall 2011 Reinschmidt said the strong introduction partly reflected the fact that US stores had already heard of the healthy reception the re-launch had received in Europe Said Reinschmidt They already knew that we presented a good range and I guess that is underlined by the fact that we are very pleased with our start in the US

The brand has found success at Eastern Mountain Sports which was among the few US stores to receive the early JuneJuly drop of its boat shoe Particularly encouraging has been that sell-throughs at Zappos have been really positive said Reinschmidt

The Goal For The Third Phase ndash 2015 and Beyond ndash is for Adidas to gain leading positions in key outdoor categories in key marketsThe initial revenue goal is to build a euro500 million business for Adidas Outdoor although there is no timeframe Said Reinschmidt ldquoOnce we reach it well set up another onerdquo

Adidas Outdoor appears to be in no rush Reinschmidt said Adidas wants to slowly build its position in outdoor ldquoin a very authentic and credible wayrdquo and is willing to wait to earn its way into the outdoor world

Said Reinschmidt ldquoI believe we are a young fresh and different alternative to the established and little-older brands already in the out-door channel It will take time until people realize this but Im confident they will Theyrsquoll see therersquos a clear commitment and passion for the outdoor industry hererdquo

Rolf Reinschmidt SVP and head of the global outdoor unit for Adidas

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THE MAKING OF GORE-TEX ACTIVE SHELLBy Thomas J Ryan

WL Gore focused on sweat management when they came up with their new fabric technology for trail runners mountain bikers and speed ascent fanatics


At WL Gore amp Associates headquarters in Feldkirchen Germany Timm Smith Gores product specialist and product developer last month provided a broad overview of the technologies behind the Gore-Tex Active Shell But a large chunk of his presentation focused on why Gore brought such a product to market

The big question that keeps coming up is You got Gore-Tex Pro Shell Gore-Tex Soft Shell Gore-Tex Paclite Shell Gore-Tex Perfor-mance Shell and now Gore-Tex Active Shell How many shells can you make Gore he joked at the beginning of his presentation during a press tour for US journalists

Noting that one of Gores core values is fitness for use Smith said that Gores overriding goal is to create highly targeted products for highly targeted end uses In essence its creating fabrics to enable an athlete whether a climber skier hiker biker or runner to endure and excel in any environment For instance when skiing you cover a wide range of temperatures But youll also be sitting still on the lift and then suddenly go down a hill really hard often on bumps Its about how you handle going from no activity to a lot of activity or to moderate activity - all with a single garment system

Around 2009 Gores team noticed that it was missing an athletic end-use In conversations at its Athlete Councils where top climb-ers skiers and runners gather periodically at Gores headquarters in Newark DE to discuss product many of its core athletes admitted they were pushing the limits of alpine environments Gore began noticing the trend toward fast-forward alpine emerging

They were saying Weve reached the farthest places on earth Weve all been to these 8000 meter peaks and thatrsquos not sexy any-more - so to speak Those guys were figuring out how to take it to the next level and the next level for them in an alpine environment was How do I do it faster How do I do more peaks in a single

day How do I ascend something that used to take four days and do it in four hours

At the same time many runners were no longer viewing the mara-thon as their bucket list or ultimate pinnacle of success but only a step in their journey toward an ultra-marathon Many of these ultras were marked by single races extending well over 100 miles and easily lasting over a day but Smith said many ultra-runners were increasingly looking to challenge themselves in alpine environments as well Said Smith Youve got climbers that are taking more of a runner approach in a way and youve got runners taking more of an alpine climber ap-proach We had to decide how to respond to all of this

As is often the case the whole fast and light trend ndash also seen among skiers - was already being addressed on the hard goods side with the arrival of lightweight boots and lightweight skis and other gear In apparel the challenge was that athletes pursuing these speedier pursuits in colder climates were generating more heat and sweat than probably has ever been generated in the outdoors said Smith Moreover humans in general are pretty inefficient machines he added Even highly-accomplished athletes such as Lance Armstrong only get 20 percent of the benefit of useful food energy into their workout with the remaining 80 percent represent-ing heat being discharged he noted For Gore the mission became to take the current waterproof breathable offering and extend the rate at which an athlete can run and get the most heat and most sweat out

From a garment design perspective the goal was to come up with a laminate that was lighter thinner and more breathable Comfort experts according to Smith were telling Gore If you can take gar-ments that used to be big and bulky and trap all this air in here and you can drive that garment in tighter and get rid of all those dead

Timm Smith Gores product specialist and product developer presents the Gore-Tex Active Shell Technology The Gore-Tex Active Shell jacket by Berghaus


layers you can get more heat and sweat out Similarly designers recognized that removing many of the extra features on a jacket (ie multiple pocket bags) to create a more streamlined package would improve breathability The hope was to create a more holistic approach to de-sign that Smith likened to recent evolutions in the outdoor footwear space

Back in the day there were hiking boots and then there were trail runners and then there was this whole fast-forward push to footwear Smith noted The thought was Can we do the same thing for garments and almost create the trail runner of garments

From the materials standpoint Gore equally tasked its designers to come up with a lighter thinner and more breathable fabric membrane Its innovation team came up with a membrane that was half the thickness and half the weight of a traditional Gore-Tex membrane

The resulting Gore-Tex Active Shell according to Smith is the shell thats lighter thats thinner thats more breathable than any one weve ever created in that Gore-Tex space Designed for highly aerobic done in a day activities such as trail running mountain biking and fast alpine ascent the three-layer waterproof jacket consists of a protective outer shell attached to a membrane and then a backer glued on to the waterproof membrane Gore-Tex has stipulated to its partners a weight limit of 400g although many versions are coming in closer to 300g

Smith said Gore wanted to go with a three-layer because two layers often become clingy and retain condensation during highly aerobic activities

Two-and-a-half layer products are awesome for that sort of packable piece that you can take anywhere Smith said You can pull it out You can throw it on if youre stuck in a storm You can hike in it or trek in it But when youre pushing sweat as hard as some of these folks are pushing sweat and you dont have a third layer in there to deal with some of that liquid water thats where it can become uncomfortable next to your skin

Another notable difference is that the Active Shell uses a proprietary lami-nation technique to attach the membrane to the liner to increase water vapor transfer rates Older versions have been attached with glue Said Smith By integrating that backer into that barrier layer we essentially removed a layer of glue which also increased the breathability of the laminate overall

This creates an even more compact three layer design a new level of breathability (RET (evaporative resistance of a textile) lt 3) and next-to-skin comfort The breathability of the new laminate is supported by minimalist designs without unnecessary pockets and features

Officially introduced in Fall 2010 Arcrsquoteryx Mammut The North Face Adidas Outdoor and other big names brought out hardshell jackets for 2011 based on Active Shell at Januarys Outdoor Retailer Winter Market In August Gore extended the collection to include Gore-Tex Active Shell Stretch laminates The technology has also been incorporated into the Gore-branded bike wear line

Smith did offer one caveat He cautioned that creating a fabric that maxi-mizes pulling sweat comes with a trade-off in other areas particularly abra-sion He offered that as an example of why Gore has developed numerous shells to suit the varied needs of athletes Said Smith Theres some tradeoff when it comes to ruggedness You dont want to take a Gore-Tex Active Shell into extreme alpine environments You dont want to stick a Gore-Tex Active Shell into a crack and start rubbing it against sandstone You wouldnt want to take a stick and jab it into the membrane Our focus in design was breath-ability in a lightweight garment

A US press tour of WL Gore amp Associates headquarters in Feldkirchen Germany included a visit to the fabric giants garment and footwear labs

Timm Smith discusses the varying garment challenges outdoor athletes face across various activities


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OCTOBER 31 2011

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OCTOBER 31 2011

12Page















SGB

TEAM Business


The BOSS Report


SGB Update





SGB Weekly


SportScanInfo

OIA VantagePoint

SOS Research





ISSUE 1144





NEWS

WORLD SERIES 2011






















NEWS




MOVERS amp SHAKERS























































































W









































NEW

GPS
































SportScanInfocom











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Documents

SGB WEEKLY 1144