**Summer Summary: The Footwear Industry’s Key Players**.
Summer is traditionally a slower season for the footwear industry, but that doesn’t mean there isn’t still plenty of news to report. Here’s a roundup of some of the key stories that have been making headlines in recent weeks:.
**Nike Reports Strong Quarterly Results**.
Nike reported strong quarterly results for the period ended May 31, 2023. The company’s revenue rose 4% to $12.2 billion, while its net income increased 11% to $1.5 billion. Nike’s strong performance was driven by growth in all of its major markets, including North America, Europe, and China..
**Adidas Announces New CEO**.
Adidas announced that Kasper Rorsted will step down as CEO of the company on October 1, 2023. Rorsted has been with Adidas for five years, and during his tenure, the company has seen strong growth in both its sportswear and lifestyle businesses. Adidas has not yet announced who will replace Rorsted as CEO..
**Puma Reports Double-Digit Sales Growth**.
Puma reported double-digit sales growth for the first half of 2023. The company’s revenue rose 16% to €3.3 billion, while its net income increased 26% to €403 million. Puma’s strong performance was driven by growth in all of its major markets, including Europe, North America, and Asia..
**Skechers Reports Record Quarterly Revenue**.
Skechers reported record quarterly revenue for the period ended June 30, 2023. The company’s revenue rose 18% to $1.9 billion, while its net income increased 22% to $328 million. Skechers’ strong performance was driven by growth in all of its major product categories, including footwear, apparel, and accessories..
**VF Corporation Announces New President**.
VF Corporation announced that Steve Rendle will step down as President and CEO of the company on January 1, 2024. Rendle has been with VF Corporation for 25 years, and during his tenure, the company has acquired a number of iconic brands, including The North Face, Vans, and Timberland. VF Corporation has not yet announced who will replace Rendle as President and CEO..
**These are just a few of the key stories that have been making headlines in the footwear industry in recent weeks. As we head into the fall season, it will be interesting to see how these companies continue to perform.**.
