Daily News Feed 05/17/2024 SFIA Chief Tom Cove to Retire in October
The longtime Sports & Fitness Industry Association president & CEO will step down from the role in Oct., he revealed in a LinkedIn Post. Feng Tay Up High-Double Digits in Q1
Net income attributable to shareholders at the Taiwanese footwear and sporting goods manufacturer climbed 70% to TWD 1,270.6 million ($40.3 mm) in the first quarter from TWD 749.4 million, on 6% higher revenues of TWD 20,616.5 million ($654.5 mm) up from TWD 19,502.8 million. Puma Elevates Two as Exec Jumps to Zalando
The Big Cat appointed company veteran, Bas van den Bemt as its new managing director for Central Europe, effective Jul 1, succeeding Nina Graf-Vlachy, who departed for the top sports role at German e-tailer Zalando. Snipes Elevates Badour to USA Chief
Martin Badour, the Foot Locker veteran who was most recently EVP of US retail at the sneaker and streetwear retailer, becomes president of Snipes in the USA effective immediately. Former Nike Diversity Manager Sentenced to Prison
Barbara Furlow-Smiles pleaded guilty to defrauding Facebook of almost $5 million, and stealing another $121,000 from Nike, in Atlanta federal court. Etcetera: Kizik, Rally House, Adidas
05/16/2024 Under Armour Launches Restructuring with Plank at Helm
Having retaken the reins six weeks ago after an early exit by Stephanie Linnartz, Under Dog founder and now again CEO, Kevin Plank pledged to return to fundamentals in an 18-month plan to reconstitute Under Armour’s brand strength. Canada Goose Profits Jump, Guides for Modest Growth
Net income bounded back to C$7.6 million ($5.1 mm) from last year’s loss of C$10 million on revenue that was up 22% to C$358.0 million ($238.3 mm) over C$293.2 million in the fiscal fourth quarter. Yonex Sets Record Revenues to Finish Year
Net income grew 21% at the Japanese racquet sports and golf brand to ¥116,442 million ($59.7 mm) against ¥7,331 million as the weakened yen helped revenues grow 9% to a record high ¥116,442 million ($785.0 mm) from ¥107,019 million for the fiscal year ended Mar. 31. Zett Profit Shrinks but Sales Improve
Profits were down 10% in FY24 ended Mar. 31 to ¥810 million ($5.5 mm) from ¥905 million, on 4% higher revenues to ¥51,957 million ($350.3 mm) against ¥49,887 million. Colt CZ Group Closes Sellier & Bellot
The Czech firearms brand and Colt parent completed the acquisition of ammunition maker Sellier & Bellot for a total price of $703 million, net of debt. Classic Football Shirts Scores Investment, Launches in U.S.
The U.K.-based retailer of new and used authentic soccer jerseys landed a $38.5 million equity investment from The Chernin Group to power global expansion. Converse Jobs Hit By Nike’s Cuts
Converse, a subsidiary of Nike, is set to cut an unspecified number of staff jobs as part of the Eager Beavertons’ $2 billion cost-saving initiative, according to multiple sources. Lawsuit Settlements: New Balance, Coach
New Balance and plaintiffs accusing it of misrepresenting its “made in the USA” sneakers jointly stipulated that all claims were dismissed with prejudice. Etcetera: Lululemon, Benelli, Puma, Hanesbrands, UPA of America, Skechers
05/15/2024 USTR Tariff Report Offers No Good News for Industry
The Office of the U.S. Trade Representative’s long-awaited four-year review of Section 301 tariffs has arrived along with consternation from various trade groups on the report’s recommendation to maintain existing duties while expanding them in certain manufacturing and technology sectors. Globeride Guides for Slight Growth after Last Year’s Decline
The parent of Daiwa fishing and golf’s loss expanded to ¥641 million ($4.3 mm) in the final fiscal quarter ended Mar. 31 from a loss of ¥445 million prior, as sales grew by 3% to ¥29,520 million ($199.1 mm) from ¥28,725 million. Dunlop Sports Profits Slip on Higher Sales
Sumitomo Rubber’s sports division grew sales by 3% to a record high ¥36,708 million ($247.5 mm) from ¥35,468 million in the first quarter, but operating income slipped 23% to ¥4,225 million ($28.5 mm) from ¥5,459 million. Taiwanese Bike Makers Plunge in Q1
Mirroring their larger competitor, Giant Group, Merida Industry and Ideal Bike posted significant sales declines in the first quarter. Report: VF Corp. May Sell Supreme
After paying a lavish $2.1 billion for the streetwear brand during the pandemic, VFC may be looking to offload Supreme, WWD first reported, and is working with Goldman Sachs to gauge interest. Sporting Goods Sales Accelerate Lower
Adjusted sales of sporting goods/hobby/book and music stores fell 4.7% year-over-year in Apr. to $8,238 million from $8,644 million, according to Commerce Dept. data, following a 3.9% drop in Mar. Nike Reaches Settlement with By Kiy
The Eager Beavertons have settled all trademark infringement claims against By Kiy LLC and one of its owners and designers Nickwon Arvinger, according to a filing in So. NY district court. Lululemon Scores Partial Victory on Nike Patents
The Patent Trial and Appeal Board has sided with the Lulunatics and cancelled claims made by two Nike patents related to fitness tracking technology. Etcetera: Puma, Canada Goose, MEC, Sierra, Adidas
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