Peloton Interactive Inc. posted a wider loss than expected in the fiscal fourth quarter as it was impacted by above-plan subscription churn as well as higher-than-expected costs related to a recent recall.
Month: August 2023
EXEC: Xtep Intl Posts Double-Digit H1 Increase Despite Slowing China Growth
The company, which operates retail stores in China for K-Swiss, Palladium, Merrell, and Saucony, in addition to Xtep brand stores, reported that retail sell-through growth in the first half increased nearly 15 percent.
Foot Locker, Inc. Posts Q2 Loss, Cuts Outlook as Sales Fall and Margins Contract
The retailer is pausing its cash dividend payments in the fall after reporting sharp Q2 declines in total sales and comp sales, a loss in GAAP net income, slimmer margins, and a business that reportedly softened further in July.
Kohl’s Q2 Earnings Fall on 5 Percent Comp Decline
Kohl’s reported profits in the second quarter dropped 54.1 year-over-year as same-store sales declined 5.0 percent. Earnings were ahead of analysts’ estimates with the benefit of tight expense and inventory controls and continued growth at its in-store Sephora shops. Guidance was reiterated for the year.
Powder Mountain Hires Two Snow Sports Veterans for Key Leadership Roles
Powder Mountain hired Katie Van Riper as director of marketing and Justin Soine as director of sports and recreation, a newly created position, at the Utah mountain resort.
Allbirds Names Canadian Distributor
In-Sport Fashions, a Canadian distributor of specialized lifestyle, athletic and outdoor products, entered into an exclusive partnership with Allbirds, effective September 15.
EXEC: Dick’s CEO Talks Q2 EPS Miss, Inventory Woes, Retail Theft and Staff Cuts
Shares of Dick’s shaved about a quarter of their value on Tuesday after America’s largest sporting goods chain reported a second-quarter profit shortfall and slashed its earning guidance for the year due to promotions required to clear inventories, particularly in the outdoor category, and higher-than-expected shrink.
Kora Expands Bamboo Line With Activewear Capsule
Kora, the manufacturer of technical apparel with natural fibers, including yak wool, merino and bamboo, expanded its bamboo apparel range with an activewear capsule collection including everyday tops, leggings and pants for men and women. Since its founding, Kora has manufactured its own fabrics that make up its garments. The company introduced its Bamboo line […]
Xero Shoes Launches New Styles For Running, Hiking and Casual Wear
Barefoot shoe brand Xero Shoes launched eight new styles—two updated running shoes, two trail runners, a workout trainer, a waterproof hiking boot, a men’s casual moccasin, and a faux wool slipper, adding to its over 45 styles of “barefoot shoes”. “The talented designers on our team developed our brand into a full-fledged line that appeals […]
Alterra Mountain Company Closes on Schweitzer Acquisition
The addition of Schweitzer brings the company’s year-round mountain destinations to 17 in North America, including the world’s largest heli-ski operation.
Pyramyd Air Rebrands to Emphasize Broader Outdoor Product Range
Pyramyd Air rebranded to Pyramyd AIR, where AIR is an acronym for Adventures In Recreation. The company said the new name signifies the company’s mission “to outfit customers’ outdoor experiences wherever they might be.”
Franklin Sports Named Official Ball Sponsor of Pickleball Australia
As part of the agreement, Franklin’s X-40 and X-26 pickleballs become the official balls of Pickleball Australia via member associations, clubs, individual members, and sanctioned tournaments.
Dick’s SG Lays Off Corporate Staff to Streamline Cost Structure
A source told Bloomberg News that Dick’s had laid off 250 corporate employees as part of the plan. Retail staff were not impacted.
Sunday Afternoons Appoints New CEO
Patrick Mahaffey joins the family-owned brand with extensive sales, operations and leadership experience. Most recently, Mahaffey held the position of president at Good Life, Inc. He replaces outgoing CEO Sarah Sameh.
Academy Sports + Outdoors to Open First Indianapolis Store
The approximately 75,000-square-foot store will sell a wide assortment of sports and outdoors merchandise. The retailer will host a grand opening from August 25-27.
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