EXEC: Adidas Again Lifts Guidance on Robust Third Quarter Results
Life Time Group Sees Q3 Net Income Surge in Preliminary Report
Iconic Vasque Brand Discontinued by Parent Red Wing
EXEC: Nike’s Stock Nets “Buy” Upgrade on Leadership Changes
EXEC: September Footwear Factory Shipments Shine as Key Nike Factory Returns to Growth
SGB Update
Life Time’s Debt Outlook Upgraded on Proposed Loan
Moody’s Ratings changed its debt rating outlook on Life Time to positive from stable as the fitness club operator continues to reduce leverage through earnings growth and debt repayment. The change largely reflects Life Time’s proposed $1 billion senior secured first lien term loan due 2031.
NRF Sees 2024 Holiday Selling Season Growth Lowest Since 2018
“Household finances are in good shape and an impetus for strong spending heading into the holiday season, though households will spend more cautiously.” – NRF Chief Economist Jack Kleinhenz.
Ironman Hires EVP of Global Partnerships
The Ironman Group added Yanni Andreopoulos, formerly at ABB FIA Formula E, as executive vice president of Global Partnerships.
Beyond Yoga Parent, Levi Strauss, Appoints Board Member
Levi Strauss & Co. announced today that its board of directors has elected Daniel Geballe as a board member, effective April 26, 2025. At that time, current member David Friedman will retire from the board.
B2B Inventory Marketplace Raises $40M in Funding Round
The private b2b marketplace for worldwide brands to sell surplus inventory to new buyers, raised $40 million in Series C funding led by L Catterton with participation from existing investors.
SGB Executive
EXEC: Adidas Again Lifts Guidance on Robust Third Quarter Results
Excluding Yeezy sales, currency-neutral revenues jumped 14 percent in Q3. Any further Yeezy sales this year are expected at cost, resulting in ~€50 million in additional sales and no further profit contribution in the fourth quarter.
EXEC: Sports Direct Parent Acquires Minority Stake in Online Retailer THG
Frasers Group, the parent of Sports Direct, agreed to buy a £10 million ($13 million) stake in THG, formerly The Hut Group. The fundraising will enable the online retailer to spin off its unprofitable tech unit, Ingenuity.
EXEC: Nike’s Stock Nets “Buy” Upgrade on Leadership Changes
Nike scored its first rating upgrade since news arrived of Elliot Hill’s appointment as CEO. Truist Securities’ Joe Civello believes Nike’s increasingly veteran-driven management team can revive the brand’s marketing and innovation, including better promoting Caitlin Clark, while continuing to repair wholesale relationships. Civello also cited selling direct on Amazon as a “game-changer” opportunity.
EXEC: Anta Sports Sees Fila’s China Retail Sales Turn Negative in Q3
The company is the largest shareholder of Arc’teryx, Wilson and Salomon parent Amer Sports, and also runs retail stores in China for the Anta brand, Fila, Descente, Kolon Sport, and Amer Sports.
EXEC: Ten Takeaways from SFIA’s 2024 Team Sports Report
SFIA’s 2024 U.S. Trends in Team Sports Report included some concerning findings, including continued deterioration in Core participation, but overall had more positive findings than negative.
