Daily News Feed
Second Quarter Sales Increased 9% but Profits Lagged
Aggregate profit in the second quarter increased 5% to $2,554 million this year from $2,435 million and would have been stronger except for large one-time charges and ForEx swings at a few companies on a broadly stronger performance across sectors, as industry revenues climbed 9% to $42,084 million from $38,492 million.
The Japanese premium apparel brand has established Descente Athletic Americas (DAA), its new U.S. subsidiary located in Atlanta, GA, as the beachhead for an aggressive expansion strategy here.
The company’s Tenkan-Ten (Tipping Point) program, which was established by Asics in Nov. 2016, has chosen five recent start-ups for €30,000 awards and management and strategic support.
The Big a bought the whole front page of nine U.S. major city newspapers to advertise the Adidas Yeezy Boost 350 V2 Triple White with the words “We Love” repeated in several languages.
Titan Manufacturing is recalling about 970 weight lifting safety straps because stitching in the strap can come loose causing heavy weights to fall on users.
Under Armour Will Cut 400 Jobs
The layoffs amount to about 3% of its global workforce and will add $10 million in severance costs to the $190 to $210 million cost of the company’s previously announced restructuring plan.
Ads promoting stricter gun control have aired 102,636 times, 22 times more than the 4,491 that were shown four years ago, according to an analysis by the Wall Street Journal of data from Kantar Media.
Having no doubt noticed Lululemon’s booming men’s business that has grown from a tiny base to 22% of revenues in the past few years, GPS is launching Hill City, a men’s technical apparel brand.
The former Badger Sportswear will add the San Marcos, CA-based on-demand apparel manufacturing company to its portfolio which includes Badger Sport as well as Alleson Athletic and Garb Athletics that were acquired in Q4 last year.
Gregory Mountain Products sales jumped 10% in the first half to $29.1 million from $26.5 million, while the less technical and more lifestyle oriented High Sierra gained 2% to $45.0 million from $44.0 million.
Outdoor recreation accounted for 2.2% of GDP in 2016, according to a just-released Bureau of Economic Analysis report, and grew 1.7% from 2015, outpacing the 1.6% growth from the overall economy.
Nike Momentum Keeps Building after Kaepernick Ad
In the two weeks that have passed since the Eager Beavertons’ controversial reboot of Just Do It launched, evidence is mounting that the benefits of featuring Colin Kaepernick are far outstripping the backlash.
The outdoor specialty group called Moosejaw’s open letter defending its site on Walmart.com “cynical and inaccurate,” and argues that big retailers like Walmart crave the brand equity that has been built up over years of partnership between outdoor specialty stores and brands.
Retail sales are expected to grow 5.0-5.6% over last year, according to a forecast by Deloitte, to exceed $1.10 trillion and digital sales will be the biggest growth driver, accelerating to a 17-22% increase compared to a 16.6% in 2017 and reaching $128-134 billion, about 12% of the total.
Yeti accuses the dollar store operator of selling knockoffs of its Rambler tumbler and Colster beverage holder in a suit filed in W. TX District Court.
The Boulder, CO-based maker of minimalist sneakers and sandals raised the debt capital in a deal with JPMorgan Chase, and will use the proceeds to support growth and expand its product line as well as retire existing debt.
National Park recreational visits declined 6% in Aug. to 39,055,628 from 41,756,749 and were down 3% year-to-date at 229,732,211 vs. 237,100,150.