Propelled by a spike in bike sales, Dorel Sports delivered record profitability in the second quarter as sales jumped 18 percent despite significant supply chain restraints. Martin Schwartz, president and CEO at Dorel Industries, told analysts, “As the factories were ramping back up, demand for bikes took off to an extent never seen before.”
Month: August 2020
Change At The Top Of The Adidas Supervisory Board
The Supervisory Board of Adidas AG has appointed Thomas Rabe, chief executive officer of Bertelsmann, as chairman of the company’s Supervisory Board. He will succeed Igor Landau, whose Supervisory Board mandate expired after 16 years at the end of the Annual General Meeting on August 11, 2020.
Zanders Sporting Goods Hires Operations Manager
Zanders Sporting Goods, a national wholesale distributor located in Sparta, IL, bolstered its management staff by hiring Glenn Dunbar as operations manager.
True Velocity Names Chief Operating Officer
True Velocity named aerospace and defense industry veteran Jim Stephens as its chief operating officer, rounding out the Texas-based technology company’s executive leadership team.
Skechers Opens Flagship On Rue de Rivoli In Paris
Skechers has opened a flagship store on Rue de Rivoli, one of the biggest shopping boulevards in Paris. The new store offers a full Skechers retail experience that will appeal to locals and eventually returning visitors to shop an expanded range of Skechers lifestyle and performance footwear and apparel.
Colorado Water-Related Outdoor Recreation Generates Over $18 Billion Annually
Water conservationists and outdoor recreation proponents in Colorado got a blast of wind in their campaign sails recently, thanks to a new study that finds Colorado’s waterways support over 100,000 jobs and billions in tax revenue across the state.
Burton Announces Fair Labor Association Accreditation
The Fair Labor Association announced that its board of directors voted to accredit the social compliance program of Burton, the Vermont-based, privately held, snowboarding and mountain lifestyle company founded in 1977.
G-III Apparel And Levi Strauss Renew U.S. Licensing Agreements For Outerwear
G-III Apparel Group Ltd. announced that it has renewed its license agreements with Levi Strauss & Co. for the Levi’s and Dockers brands.
Retail Imports To See Lowest Annual Total In Four Years
Imports at major U.S. retail container ports during 2020 are expected to see their lowest total in four years as the impact of the coronavirus on the U.S. economy continues, according to the monthly Global Port Tracker report released by the National Retail Federation.
EcoVessel Acquires U-Konserve
EcoVessel has acquired food storage and reusable container company U-Konserve.
Big Ten and Pac-12 Become First Power 5 Conferences To Postpone Football
The Big Ten and the Pac-12, two of the college sport’s Power 5 conferences, canceled their plans to play this fall due to COVID-19.
Wolverine Worldwide Appoints President, CEO-Designee
Wolverine World Wide Inc. announced the appointment of Brendan Hoffman as its next president and his appointment as a member of its Board of Directors, effective September 8. He is expected to transition over a period of time to become the future CEO of the company.
Fitness International’s Debt Ratings Downgraded
Moody’s downgraded the debt ratings on Fitness International, the parent of LA Fitness, due to the recent surge in coronavirus cases in states on the West Coast, South, Southwest and the resultant mandated re-closing of gyms in California and Arizona as well as the possibility of additional mandated gym closures in other states.
Sports Industry Execs Launch NextUp Ventures And NextUp Partners
A cadre of leading sports industry executives announced the launch of NextUp Ventures and NextUp Partners, investment vehicles designed to fuel startups and emerging brands in the sports betting, esports and sports technology spaces. The executives include Craig Heisner, formerly at Newton Running, and Rob Purvy, formerly at Hoka One One.
PGA Golf Exhibitions To Launch Half-Day Virtual Summit
PGA Golf Exhibitions announced details for the PGA Show Connects Virtual Summit, August 18, to include a half-day online event of multiple webinars addressing market trends, player development, customer experience and retail strategies.
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