Sporting Goods Industry News for October 22, 2018
Camping World is sued by David Ronge in Chicago federal court claiming that Camping World’s statements to investors about its internal financial controls and the rollout of the Gander Mountain acquisition from bankruptcy misled investors in its early months as a public company and allowed CWH insiders to cash in on more than $530 million in stock sales at prices as high as $45.92.
Nike remains easily at the top of the heap, but its dominance is slowly eroding as the top teen brand and top teen athletic brand as Vans, Adidas and the 90s retro trend all take a nibble out of the Eager Beavertons, according to the Fall, 2018 Piper Jaffray Taking Stock with Teens survey of 8,600.
An expanded list of trade creditors filed Oct. 22 finds Hanesbrands at 13th on the list owed $8,380,097 and its Knights Apparel subsidiary ranked 40th with exposure of $2,623,712, bringing HBI’s total exposure to at least $11,253,809.
Retail sales gained 5% in North America to €1,081 million ($1,257 mm) from €1,030 million in the third quarter on strong omni-channel sales from Ray-Ban and Oakley and the strengthening dollar.
Same store sales for the Chinese sneaker and apparel brand increased low teens in the third quarter, including a low-thirties percent increase in e-commerce sales.
The Eager Beavertons inked an endorsement deal with Chinese League of Legends player Jian “Uzi” Zi-hao.