Sporting Goods Industry News for November 28, 2023
The Japanese sportswear company is putting the focus on profitability in its new three-year plan, unveiling a 12% operating margin target for 2026 on a 7% to 10% sales CAGR over forecasted 2023 results of ¥570 billion ($3.9 billion) at its 9th Investment Day.
Cyber Monday online sales tallied $12.4 billion according to preliminary numbers from Adobe Analytics, topping last year’s record $11.3 billion by 10% and bringing Nov. 1-Nov. 27 total online spending to $105.2 billion.
Academy has opened seven new stores across five states this month, expanding its footprint in FY ’23 with 14 added locations, on track towards 120-140 new stores by FY ’27.
The Permira-owned luxury sneaker brand has been holding pitch meetings with investment bankers in advance of a possible public offering that would value the company at between €3 and €4 billion, Bloomberg reported, citing sources close to the matter.
The long-time Big Foot exec moves down the mall to lead Genesco’s struggling teen fashion footwear banner, succeeding Mario Gallione, who retired from the role in August.
The adventure lifestyle brand appointed former Volcom chief and longtime board member, Jason Steris as CEO, effective Dec. 4.
NICS FBI Background checks, as adjusted by the NSSF, declined 4% last week to 680,671 from 2022’s total of 711,372.
MI-based shotshell brand, Boss Outdoors argues that German fashion house Hugo Boss AG has used unsubstantiated trademark infringement claims to bar it from selling apparel bearing its “Boss Shotshells Unmuzzled” marks, according to a filing in MI district court.
ASO has agreed to pay $2.5 million to the estates of three victims that were murdered by serial killer Todd Kohlhepp, awarding them each with over $830,000.