<span style="color: #828282;">The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of October 5, 2020, covered in the SGB Updates and delivered to your inbox every business day.
— October 9, 2020 —
›Report: Nike Undergoes Second Round Of Layoffs
Nike, this week, laid off a sizeable number of senior directors who oversaw athletic specialty retailers, family footwear and department stores, according to a report from Susquehanna Financial Group. The layoffs followed a first-round over the summer that affected more than 100 vice presidents and comes after the company warned of layoffs in July. Read more
›Li & Fung Appoints CEO
Li & Fung Limited announced new leadership appointments following the recent privatization of the company. Effective immediately, the company said in a statement, Joseph Phi, group president, is appointed group chief executive officer of Li & Fung and Spencer Fung succeed William Fung as executive chairman. Read more
›BN3TH Expands U.S. Sales Team
BN3TH Apparel has revamped its U.S. sales team starting with Matt Keenan as director of sales for North America and Mike Loughlin as U.S. key account manager. Read more
›Benchmade Knives Names CEO and President
Benchmade Knives announced that its current President, Jon deAsis, has assumed the role as President & CEO effective immediately, replacing Roberta deAsis who filled the role after the sudden passing of her husband and founder, Les deAsis. Read more
— October 8, 2020 —
›Fiocchi Acquires Ammo Maker Baschieri & Pellagri
Fiocchi announced the acquisition of shotgun ammunition manufacturer Baschieri & Pellagri. Read more
›DTG2Go Launches ‘On-Demand’ Retail Solution
Delta Apparel, Inc. announced the expansion of its digital print business with the opening of its first ‘On-Demand DC,’ a solution for retailers and brands to grow their business using an integrated, on-demand fulfillment model. DTG2Go also opened its ninth digital print and fulfillment center in partnership with the teen retailer, Hot Topic. Read more
›FDRA Completes Merger With FFANY
The Footwear Distributors and Retailers of America (FDRA) announced it has assumed the management of the Fashion Footwear Association of New York (FFANY) operations. FDRA President and CEO Matt Priest will oversee the union and FFANY’s Executive Director John Heron will become a strategic advisor. Read more
›UCLA To Wear Under Armour This Year Despite Dispute
UCLA will continue to wear Under Armour this season despite filing a lawsuit over Under Armour’s move to terminate its contract. Read more
›Former Athleta Chief To Head Old Navy
Gap Inc. reported that Nancy Green, who was president and CEO of Athleta from May 2013 to August 2019, has been appointed president and CEO of Old Navy, Gap’s largest brand. Read more
›Exer Labs Secures $2M Funding Round
Exer Labs, a year-old, Denver-based fitness startup, raised an additional $2 million in seed funding, bringing its total raised to $4.5 million. Read more
›Hydrow Appoints CFO
Hydrow announced that Ian Drummond has joined the company as CFO. Drummond comes to Hydrow from SimpliSafe, one of the largest home security providers in the U.S., and will use his hands-on experience leading financial operations and strategic planning activities to assist Hydrow with its business goals. Read more
›Mindbody Makes Promotions As It Accelerates Investments
Mindbody recently promoted Regina Wallace-Jones to senior vice president of insight and innovation, and Jaimie Fucillo to vice president of global partnerships. Read more
›L.L.Bean Expands Wholesale Push To Zappos
L.L.Bean has added Zappos as a wholesale partner. In mid-July, L.L.Bean marked its first foray into wholesale in the U.S. with distribution deals formed with Nordstrom, Staples and Scheels. Read more
›Kaiser Permanente Releases Return To Sports Playbook
Kaiser Permanente has developed and released comprehensive guidance for youth, high school and collegiate athletes to return to sports safely during the COVID-19 pandemic. Read more
›Hyperice Secures Strategic Investment
Hyperice has closed a new investment round led by Main Street Advisors (MSA) and SC. Holdings. Read more
›Mayweather Boxing + Fitness Opens Greenville, SC Studio
Mayweather Boxing + Fitness announced the opening of its Greenville, SC Studio, the first location. Read more
›Picture Opens Pop-up Shop In SEED People’s Market
Picture, announce a pop-up shop in the SEED People’s Market located in Costa Mesa, CA running from October through December 2020. Read more
›Alterra Mountain Company Announces Leadership Changes, Creates New Company Divisions
Alterra Mountain Company CEO, Rusty Gregory, has announced leadership promotions and organizational changes. Read more
›Hydro Flask Returns To Growth In Second Quarter
Helen of Troy Limited reported sales in its Housewares segment, which includes Hydro Flask and OXO, increased 20.3 percent in the second quarter ended August 31 to $167.9 million. The gains primarily reflected higher demand for OXO brand products as consumers spent more time at home cooking, cleaning, organizing and pantry loading in response to COVID-19 and an increase in online sales for both OXO and Hydro Flask. Read more
›Dick’s SG To Increase Holiday Hires
Dick’s Sporting Goods plans to hire up to 9,000 holiday workers, 1,000 more than last year to support expected continued strength in online orders for curbside or in-store pickups amid the pandemic. Read more
›The Buckle’s September Comps Expand 23 Percent
The Buckle Inc. announced that comparable store net sales, for stores open at least one year, for the 5-week period ended October 3, 2020 increased 22.9 percent. Read more
— October 7, 2020 —
›Burton Welcomes New Marketing And Creative Executives
Burton welcomed new SVP of Global Marketing, Kelly Murnaghan, and new Executive Creative Director, Adrian Josef Margelist. Both Murnaghan and Adrian report to Burton CEO John Lacy and have officially started in their respective roles. Read more
›Bollé Brands Launches B2B Platform
In support of its Customer First Program that supports retailers via its ERP and inventory management programs, Bollé has launched a digital B2B program. Read more
›Sparbar Partners On Philippines Factory
Sparbar, Ltd. reached received governmental approval for the construction of a 108,000-square-foot factory in the Philippines exclusively for the production of Sparbar products. Read more
›Jenson USA Makes Marketing And Merchandising Hires
Jenson USA has appointed two new VP leadership roles – Steve Domingues as VP of merchandising and Michael Ladinig as VP of marketing and brand. Read more
›Academy Sports’ Debt Ratings Upgraded
Academy Sports’ debt ratings was upgraded by Moody’s due to its October 2 initial public offering and better than anticipated Q220 operating performance. Read more
›Textile Trade Group Opposes GSP Expansion To Apparel And Footwear
The National Council of Textile Organizations (NCTO), representing the full spectrum of U.S. textiles, from fiber to finished sewn products, voiced strong support for a House resolution opposing the inclusion of apparel, textile and footwear products in the Generalized System of Preferences (GSP) program. Read more
›24 Hour Fitness Announces Restructuring Support Agreement
24 Hour Fitness, which filed for bankruptcy in June, announced that it has entered into a restructuring support agreement (RSA) with lenders beneficially holding approximately 73 percent of the company’s secured debt and approximately 65 percent of the company’s senior unsecured notes on the terms of a comprehensive restructuring plan. Read more
›Vista Outdoor’s Debt Ratings Outlook Raised To Positive
Moody’s Investors Service changed the rating outlook for Vista Outdoor Inc. to positive from negative due to the company’s improved EBITDA margin following the completion of on-going restructuring efforts and the company’s demonstrated commitment to debt and leverage reduction. Read more
›Olin Corp. Takes Impairment Charge
Olin Corporation, the parent of Winchester, announced that its financial results for the third quarter ended September 30, 2020 are expected to include a non-cash pretax impairment charge related to goodwill of approximately $700 million. The goodwill impairment charge is primarily the result of the sustained lower Olin stock price during 2020. Read more
›MEC Sale Gains Court Approval
A court in British Columbia approved the sale of MEC (Mountain Equipment Co-op) to Kingswood Capital Management, a California-based private-equity firm over calls by a group protesting the sale. Read more
›Fitness Brands Launch “Fight It With Fitness” Campaign
Several of the country’s largest gyms, including Anytime Fitness, Planet Fitness and SnapFitness, announced a new campaign called “Fight It With Fitness” – a call to action that urges Americans “to get healthy and recognize that fitness is essential to fighting the COVID-19 pandemic and to overall health and wellness.” Read more
›Grassroots Outdoor Alliance Confirms Fall Show Dates
Grassroots Outdoor Alliance has confirmed fall show dates for its Connect buying show through 2024. Upcoming fall shows for Grassroots Connect will be held in the Kansas City Convention Center with confirmed dates including November 8-11, 2021; November 7-10, 2022; November 6-9, 2023; and November 14-17, 2024. (Read More)
›Adidas Appoints New HR Chief
Adidas has appointed Amanda Rajkumar, an executive from French bank BNP Paribas, as its new head of human resources. Read more
— October 6, 2020 —
›USTA, Genesis Health Clubs Partner To Grow Tennis Participation
The USTA and Genesis Health Clubs announced a strategic partnership that brings together the national governing body for tennis in the United States with one of the largest health and tennis club companies in the country. Read more
›IHRSA Announces New Dates And Location For IHRSA 2021
The International Health, Racquet & Sportsclub Association (IHRSA) announced that its Annual IHRSA International Convention & Trade Show for 2021 will take place on September 20-22 in Los Angeles, CA. IHRSA 2021 had initially been scheduled to run in March at the Mandalay Bay in Las Vegas, NV. Read more
›Slinger Bag Partners With Tie Break Tens
Tie Break Tens announced that Slinger Bag has signed on as an Official Partner for the all Tie Break Tens (TB10) tournaments in 2021. Read more
›VF Foundation Partners With National Forest Foundation
The National Forest Foundation (NFF) and USDA Forest Service announced a new partnership with The VF Foundation that will create a new program in the Denver area called the “Colorado Front Range Strike Team.” In total, The VF Foundation has granted more than $400,000 to help fund the first two years of the pilot project to conserve and maintain Front Range trails. Read more
›Winnebago Industries Appoints President Winnebago Outdoors; Senior VP Winnebago RV’s
Winnebago Industries Inc. appointed Huw Bower as president, Winnebago Outdoors and Brian Hazelton to senior vice president, Winnebago-brand RVs. Read more
›True Spec Opens Denver Custom Fitting Studio
True Spec Golf announced the opening of its newest outdoor fitting location at The Ridge at Castle Pines North in Denver, CO. The facility will be managed by Troon. Read more
›Foot Locker’s Chief Information Officer To Exit
Foot Locker said in a regulatory filing that Pawan Verma, executive vice president and chief information and customer connectivity officer, announced his intention to resign from Foot Locker, Inc., effective October 31, 2020, in order to pursue another opportunity. Read more
›GoPro Sees Subscriptions Climbing On Robust Hero9 Launch
GoPro Inc. announced that high demand for its new flagship camera, HERO9 Black, has vaulted the number of paid GoPro subscribers past the 500,000 milestone. Read more
›Nutrabolt Appoints Chief Digital Officer
Nutrabolt has hired Rajaa Grar as its chief digital officer. Grar will lead the development of a new digital strategy to oversee the digital customer experience, social presence and e-commerce revenue for the company’s portfolio brands including C4, Cellucor and XTEND. Read more
›BOBS From Skechers Footwear Donations Surpass 16 Million Pairs
With 105,000 pairs of BOBS from Skechers donation clogs en route to Lebanon, Romania and Nicaragua, Skechers has now given more than 16 million new pairs of shoes to kids around the world. (Read More)
›Piper Sandler: Athletic Still Trending Upward With Teens
Piper Sandler’s 40th Biannual “Taking Stock With Teens” Fall 2020 Report found teen “self-reported” spending at an all-time survey low of $2,150, down 9 percent year-over-year as a result of COVID-19. However, athletic apparel and athletic footwear were found to be continuing to gain mindshare among younger consumers. Read more
›Adidas Partners With Florida A&M University
Adidas has replaced Nike as the athletics sponsor of Florida A&M University. Read more
›Puma Appoints Creative Director
Puma has appointed June Ambrose, Jay-Z and Missy Elliott’s longtime stylist, as the brand’s new creative director. Read more
›Accenture Holiday Shopping Survey: Most U.S. Shoppers Want Retailers To Close On Thanksgiving Day
Three-quarters (76 percent) of the more than 1,500 U.S. consumers surveyed said they want retailers to close on Thanksgiving Day, according to findings of the 14th annual Accenture Holiday Shopping Survey. Read more
›In-Store Holiday Traffic To Drop By 25 Percent, According To Sensormatic Solutions
Sensormatic Solutions’ annual ShopperTrak list predicts in-store traffic for the six weeks of the holiday season to be down between -2 percent and 25 percent year-over-year. Sensormatic said the typical holiday traffic peaks will flatten, with more days sharing importance throughout the season. Read more
›Hyperice To Sponsor English Premier League’s Tottenham Hotspur
Hyperice announced a multiyear partnership to be the Official Recovery Technology Supplier for both Tottenham Hotspur and Tottenham Hotspur Women. Read more
›Levi Strauss Introduces Denim Buy-Back, Resale Program
Levi Strauss has launched SecondHand.levi.com, an online store that features secondhand clothing that will be sourced, in large part, from its customers. Read more
›Adidas Launches Football Collective
Adidas launched the Adidas Football Collective, a program designed to provide more access to sport and positively impact communities. Read more
›USTR To Investigate Vietnam’s Trade Policies, Practices
At the direction of President Trump, the Office of the U.S. Trade Representative (USTR) initiated an investigation into Vietnam’s acts, policies and practices related to the import and use of timber that is illegally harvested or traded and those that may contribute to the undervaluation of its currency and the resulting harm caused to U.S. commerce. (Read More)
›Nike Leads List Of World’s Most Marketed Brands
Nike derived $461.9 million in total sponsorship value from nearly 12,000 promoters and 5.56 billion social media engagements in the 12 months through August. 1 2020, topping SportsPro’s inaugural list of the World’s 50 Most Marketed Brands powered by Hookit. Read more
›Emerald Holding Launches Stock Buyback Plan
Emerald Holding Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, announced that its Board of Directors has approved the repurchase of up to an aggregate of $20 million of its common stock. Read more
— October 5, 2020 —
›Kering Further Trims Stake In Puma
Kering is selling about 8.8 million shares that it owns in Puma, representing 5.9 percent of the share capital of Puma, through a placement to qualified investors. Read more
›NICS Checks Climb 61 Percent In September
The FBI completed 1.63 million gun background checks on an NSSF-adjusted basis in September, a climb of 61.4 percent compared to the September 2019 NSSF-adjusted NICS figure of 1.01 million. Read more
›Camping World Enters Partnership As NHRA Pro Series Sponsor
Camping World partnered with the largest motorsports sanctioning body to become the title sponsor of NHRA’s premier professional series, which will be called the NHRA Camping World Drag Racing Series. Read more
›Icon Health & Fitness Announces $200 Million Growth Investment
Icon Health & Fitness announced a $200 million growth investment led by L Catterton, a global consumer-focused private equity firm, and joined by existing investor Pamplona Capital Management. Icon owns the fitness brands NordicTrack, ProForm and Freemotion. Read more
›NRF Chief Economist Sees Holiday Sales Depending On ‘Wildcard Puzzle Pieces’
Consumer spending has felt a recovery from the coronavirus pandemic more quickly than forecasted, but in looking ahead to 2020 holiday sales, the forecast resembles a jigsaw puzzle without all the pieces, National Retail Federation Chief Economist Jack Kleinhenz said in a statement. Read more
›OIA Praises Passage Of America’s Conservation Enhancement Act
The Executive Director of the Outdoor Industry Association (OIA), Lise Aangeenbrug, applauded the passage by the House of Representatives “America’s Conservation Enhancement Act” legislation reauthorizing wetlands conservation and officially establishing the National Fish Habitat program and that addresses threats from invasive species and chronic disease. Read more
›Jack Wolfskin Appoints Chief Financial Officer
Jack Wolfskin, which is owned by Callaway Golf, has appointed André Grube as its new CFO. Read more
›Converse Signs Eyewear Licensing Agreement
Converse Inc. and Marchon Eyewear Inc. entered into an exclusive, long-term global licensing agreement. Read more
›Grayl Expands U.S. Sales Footprint
Grayl has added both Freestone Sales Group and Alpine Cowboy sales group to increase it’s presence in the United States to complete its national coverage. Read more
›StreetTrend Acquires European Fashion Sneaker Brand P448 SpA
StreetTrend LLC announced that it has acquired the European based sneaker brand P448 from NoThanks SpA, headquartered in Forli, Italy. The new consolidated entity will be called P448 SpA and will become part of the StreetTrend portfolio of footwear and fashion brands. Read more
›GSM Outdoors Acquires GPS Bags
GSM Outdoors has acquired GPS Bags which makes a range of gear bags. Its product lines include the Wild About Shooting series and its Tactical line for military and law enforcement. Read more
›Northland Fishing Tackle And Bagley Bait Company Expand Rep Group Territory
Northland Fishing Tackle and the Bagley Bait Company announced the expansion of their established rep group Sokol Associates’ territory, effective October 1. Read more
›S&P Sees Slow Recovery Ahead For Neiman Marcus
S&P Global Ratings rated a ‘CCC+’ issuer credit rating on Neiman Marcus, with a negative outlook. S&P said the luxury chain emerged from bankruptcy and lowered its funded debt, but faces a challenging path to recovery from the ongoing secular pressures that the COVID-19 pandemic has amplified. Read more
Illustration courtesy New York Times
