30
30
SUPPLY CHAINS TO ADMIRE | 2023
Apparel
Nike placed in the winner's circle for the sixth consecutive year. Deckers Outdoors joined Nike for the first time. Steve Madden delivers on improvement and performance but fails to deliver on value. With the many ups and downs through the pandemic, the margin declined by 8%, while inventory turns declined by 14%. Over the decade, the industry chased the lower labor cost and is currently struggling to deliver orders reliably in the face of demand volatility and shifting sourcing strategies.
Table 17. Apparel Sector Evaluation for the Period 2013-2022
INDUSTRY: Apparel Manufacturers
IMPROVE- MENT
COMPANY INFORMATION
PERFORMANCE
VALUE
RETURN ON INVESTED CAPITAL
2022 REVENUE (MS)
SUPPLY CHAIN INDEX
GROWTH (Year Over Year Revenue)
FUNDAMENTAL AVERAGE SCORE
INVENTORY TURNS
OPERATING MARGIN
PRICE TO BOOK
MARKET CAP
NAME
2013 - 2022
Adidas
$23,740
13
2.8%
2.66
8%
13.2%
10
5.26
39,126
Bosideng International
$2,524
10
8.2%
2.29
12%
7.6%
N/A
1.39
1,972
Capri Holdings Ltd
$5,654
7
18.9%
2.46
21%
26.7%
8
4.46
9,014
Colombia Sportswear
$3,464
5
8.2%
2.55
11%
12.5%
9
2.91
4,839
Crocs
$3,555
3
14.4%
3.73
9%
26.0%
7
60.30
2,758
Deckers Outdoors
$3,150
1
8.7%
3.10
12%
16.9%
8
3.95
4,901
Fossil Group
$1,682
26
-4.3%
2.53
6%
0.8%
6
2.06
1,798
Gildan Activewear
$3,240
17
6.8%
2.24
14%
13.5%
8
3.38
6,416
Hanes Brands
$6,234
23
3.5%
2.28
10%
7.2%
8
6.32
6,849
Hennes & Mauritz AB
$22,544
21
2.9%
2.62
10%
23.3%
8
6.46
42,490
Hugo Boss
$3,851
24
4.2%
1.64
10%
18.8%
9
5.12
5,235
Interface Inc
$1,298
12
3.8%
3.47
10%
5.9%
8
3.05
1,047
Moet Louis Vuitton
$83,507
15
9.8%
1.25
21%
13.7%
N/A
4.81
197,597
Moncler
$2,745
19
11.0%
1.62
29%
23.0%
2
7.72
9,321
Nike
$46,710
15
7.3%
3.64
13%
23.8%
10
11.75
138,822
Puma
$8,927
4
8.5%
2.64
5%
7.6%
8
3.54
7,737
PVH
$9,155
11
5.8%
2.83
7%
4.9%
9
1.60
7,874
Ralph Lauren
$6,219
5
0.3%
2.97
11%
9.6%
9
2.90
9,699
Skechers
$7,445
18
17.7%
2.59
8%
11.9%
9
2.42
4,779
Steve Madden
$2,122
8
7.5%
7.82
11%
16.6%
8
3.47
2,662
Under Armour
$5,683
13
15.8%
2.88
7%
5.8%
8
2.65
5,214
Unifirst
$2,001
22
4.8%
3.98
12%
9.1%
9
2.04
3,107
Vera Bradley
$540
25
2.1%
1.91
9%
11.7%
7
1.70
464
VF Corp
$11,842
2
1.9%
3.37
11%
12.1%
9
6.43
27,806
Wacoal Holdings Corp
$1,540
9
-3.1%
1.33
5%
3.3%
8
0.77
1,509
Wolverine World Wide
$2,685
20
7.3%
3.93
8%
2.7%
8
3.04
2,481
MEAN WITH OUTLIERS
$10,464
6.7%
2.86
11%
12.6%
8.0
6.14
20,981
MEAN WITHOUT OUTLIERS
6.7%
2.66
10%
12.6%
8.0
3.83
4,746
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