Daily News Feed 10/03/2024 Circana Forecasts Modest Holiday Sales Gains
The analytics firm is finding U.S. consumer sentiment up year-over-year heading into Holiday but trailing the lockdown-rebound peaks of 2021, highlighted by a 2% increase in planned consumer spending to $771 over Holiday ‘23 but slipping 2% from ‘21 heights. Beyond Yoga Goodwill Written Down Again
Levi Strauss’ yoga brand grew sales 19% to $32.2 million in the fiscal third quarter ended Aug. 25, partially offsetting a 15% drop in Dockers that sent LEVI’s other brands segment down 7% to $106 million from $114 million. Academy Sports Scores Upgrade from S&P Global
S&P Global Ratings raised ASO’s issuer credit rating to BB+ from BB due to the retailer sustaining leverage below 2x despite soft demand. Elevate Outdoor Collective Names New CEO
The K2, Marker, Dalbello, and Volkl parents elevated COO Josee Larocque to CEO, succeeding John Colonna, who is leaving the company to pursue other opportunities after three years in the role. Snowsports Participation Hit A New Record Last Season
Total U.S. snowsports participants crested over 30 million for the first time, boosted by snowboarding and sledding strength and the youth cohort, according to Snowsports Industries America’s 2023-24 Participation Study. Fanatics Adds European Live-Commerce Platform
Fanatics Live, the licensed products giant’s live commerce division, has acquired the assets of Voggt, a live-commerce platform headquartered in France that specializes in sports collectibles and trading card games.
Following its acquisition of K&E Tackle earlier this week, GSM Outdoors inked an agreement to purchase Roboworm, aiming to innovate and grow the brand. Etcetera: Academy, Dick’s, Topgolf Callaway, Gill, Mavic, Under Armour, REI, DOD Outdoors
10/02/2024 JD Sports’ North American Stores Outperform in H1
North America became the U.K.-based retailer's most significant geography in the fiscal first half ended Aug. 3, as the addition of Hibbett and 12% organic growth sent revenues here up 16% to £1,753.8 million ($2,220.0 mm) from £1,514.1 million. VF Corp. Closes Supreme Sale to EssilorLuxottica
The debt-laden North Face and Vans parent has completed the sale of Supreme to EssilorLuxottica for $1.5 billion in an all-cash transaction, with net proceeds heading to reduce its long-term obligations that totaled $3.8 billion at the close of the June quarter. KMD Brands Taps Nike Veteran as CEO
The Kathmandu, Rip Curl, and Oboz parent appointed 19-year Nike executive Brent Scrimshaw to succeed Michael Daly, who is resigning from the top job after leading KMD Brands through a difficult period coming out of the pandemic. PrimaLoft Hires Nobull and Saucony Execs
The Compass Diversified-owned brand appointed Chris Gallo as SVP of product strategy and Andrea Paulson as SVP of innovation and technology, as PrimaLoft aims its new strategic vision focused on product innovation while reducing environmental impact. Altor Acquires Majority Stake in CCM Hockey
CCM Hockey, which was put on the block last April by Birch Hill Equity Partners, sees PE firm Altor Equity Partners acquire a majority stake in the brand as the company aims to accelerate growth in both current and new segments, products, and markets. Thirty-5 Capital Backs New Pickleball Apparel Brand
The Chicago-based venture capital firm, which created the subsidiary United Pickleball Paddles, is collaborating with Muev to launch a new direct-to-consumer pickleball apparel brand with plans to enter the wholesale channel next year. NICS Checks Inch Higher in September
NSSF-adjusted NICS FBI background checks increased for the third straight month, growing 1.3% in Sep. to 1,156,223 from 1,141,847. Etcetera: Fanatics, Kizik, Scent Thief
10/01/2024 Nike Pulls Guidance as Sales Drop 10%
The Eager Beavertons’ earnings call was run by CFO Matt Friend, with no sign of John Donahoe, who is set to retire on Oct. 13, the day before Nike O.G. Elliott Hill takes the reins as the E.B.s fifth-ever president and CEO. Port Workers Strike Despite Last Minute Offer
The long-feared International Longshoremen’s Association strike is now underway at East and Gulf coast ports, setting up a 3- to 5-day backlog to recover from each day of a strike and adding another trade disruption to existing issues in the Red Sea and Panama Canal. ABG Taps Initial Batch of Champion Licensees
Authentic Brands Group shed some light on the global licensing model for Champion after closing on its $1.2 billion acquisition of the brand’s IP and other assets from Hanesbrands, with international and collegiate segments getting particular attention from the new owner. Rawlings Sets Leadership Transition
Rawlings’ current CEO, Mike Zlaket, will become vice chairman, effective Jan. 1, while Ron Ostrowski will step into the top job, adding CEO to his current responsibility as the company’s president. Homage Closes Growth Funding Round
The vintage-inspired sports and licensed apparel brand has secured an undisclosed amount in a new funding round from investors Ryan Reynolds, Jason Kelce’s Winnie Capital, and Rob McElhenney’s More Better, along with several other team owners and athlete organizations.
Platinum Equity-backed GSM Outdoors’ buying spree continues with its acquisition of K&E Tackle, adding Stopper Lures, Carlisle Floats, Bear Creek, Best Tackle, and Arnold Tackle to its portfolio of brands. Foot Locker Launches in India This Month
Big Foot is set to launch its omnichannel presence in India on Oct. 19, through local partners Metro Brands Ltd., who will manage Foot Locker’s physical stores, and Nykaa Fashion operating its e-commerce platform there. Patagonia Lays Off 41 in Restructuring
Impacted by the same headwinds that other outdoor apparel brands are facing, Patagonia is making moves at its Ventura, CA, headquarters to elevate product and storytelling, CEO Ryan Gellert posted on LinkedIn. Beachbody Company Slashes Staff in Platform Realignment
Shifting from a multi-level marketing network channel to a single-level affiliate program, the seller of BODi connected fitness bikes will cut about a third of its workforce to focus on direct-to-consumer, Amazon, and partnership-driven sales channels. Peloton Class Action Dismissed
An SDNY federal court judge has dismissed with prejudice the City of Hialeah Employees Retirement Fund’s class action suit that claimed PTON misled investors by insisting that its business was healthy despite slowing consumer demand and rising inventory levels. Etcetera: Genesco, eVent Fabrics, Salomon
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