Sporting Goods Industry News for April 17, 2014
King, CEO of the market-leading golf brand since 2003, will become president of adidas Group North America on June 1, which has included both the Adidas and Reebok brand businesses since last October.
Attempting to end a four-day worker walkout at its Gaobu factory in Guangdong Province, China, YY said it would adjust the employee benefits of these workers in accordance with local government policies on May 1, but warned the added cost “may have a material adverse effect on the financial performance of the Group.”
The federal district court in Northern Illinois, where the case was remanded after the U.S. Supreme Court found that the NFL was considered 32 separate teams rather than a single entity, denied summary judgment motions by both plaintiff American Needle and the defendants which include the NFL, its teams and Reebok.
When the new USATF contract is completed, the Eager Beavertons will have a nearly half-century relationship with the governing body. NKE began its relationship with USA Track & Field in 1991 and its current contract expires in 2017 when the new deal begins.
Shares in the Midvale, UT-based chain of 49 outdoor specialty doors opened at $9.50 on Nasdaq this morning, raising $118.75 million in gross proceeds from the 12.5 million shares sold by majority investor Seidler Equity Partners and the retailer.
Ontel Products Corp., of Fairfield, NJ is recalling approximately 170,000 ISO7X exercise devices due to faulty handle bars that can break during use and pose a risk of injury to the user or a bystander.