Sporting Goods Industry News for October 16, 2019
China expressed “serious indignation” about a bi-partisan bill passed by the House that supports the Hong Kong protestors and could lead to sanctions if certain human rights are not protected, further muddying relations between the two countries locked in a trade war.
As the liquidation of the remaining assets of Ellett parent SportCo proceeds, several objections have been raised as unsecured creditors jockey for position with controlling private equity shareholder Wellspring Capital.
After reporting an 80% increase in Chinese retail sales for the Fila brand in the first half to nearly $1 billion, Anta said growth slowed to merely a 50-55% rate in Q3 for what appears to be the world’s hottest sports brand right now.
Accell has sold off the last piece of its U.S. bike business to an investor group, Bicycle Retailer reported, two months after divesting its Diamondback, Redline and IZIP brands to private equity firm Regent LP.
Beringia, based in Bozeman, MT, is a new outerwear brand from Japanese apparel company Teton Bros. in partnership with serial entrepreneur and Duckworth founder Robert “Bernie” Bernthal.
Adjusted sales for sporting goods/hobby/book and music stores increased 2% last month to $6,489 million from $6,393 million, according to Commerce Dept. data, a second month of improvement after 21 consecutive months of year-over-year declines.