The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of April 5, 2021 covered in the SGB Updates and delivered to your inbox every business day.
April 9, 2021
•Nike’s ‘Satan Shoes’ Lawsuit Ends In Recall
Nike Inc said MSCHF, the Brooklyn-based company that made “Satan Shoes” in collaboration with rapper Lil Nas X, has agreed to voluntarily recall the footwear as part of a legal settlement. Read more
•Sneaker Reseller StockX’s Valuation Reaches $3.8 Billion In New Funding Round
StockX LLC said it had notched a $3.8 billion valuation by selling $60 million of new stock and letting some employees sell $195 million of their shares to investors at that price point. Read more
April 8, 2021
•Vibram Announced Executive Leadership Changes
Eric Rosen, a 20-year veteran of Vibram, will retire in April, and in conjunction with his departure, Vibram announces changes to its senior management team. Read more
•IBM Consumer Study Points To Potential Recovery Of Retail And Travel Industries
According to the findings of a new global consumer study released by IBM’s Institute for Business Value (IBV), respondents surveyed are mostly confident in the safety, effectiveness, and distribution of the COVID-19 vaccines and indicate a desire to return to ‘normalcy’ after being vaccinated. But different rules, personal preferences, and social norms formed during the last year mean that key industries need to provide more personalized marketing and client experiences to remain competitive and engage successfully with consumers. Read more
•Moody’s: Apparel Industry Facing Risks From Environmental And Social Scrutiny
Increasing sustainability scrutiny will create long-term challenges for many global apparel companies’ credit quality and drive value chain transformation, Moody’s Investors Service said in a report. Read more
•ABC Fitness Solutions Acquires Fitness BI
ABC Fitness Solutions, LLC (ABC) announced today it has acquired Fitness BI. Read more
•Mindbody Announces Executive Promotions
Mindbody announced the promotion of five key team members. Read more
•The U.S. Cotton Trust Protocol Joins Sustainable Apparel Coalition
The U.S. Cotton Trust Protocol announced its membership in the Sustainable Apparel Coalition (SAC), the alliance for sustainable production in the apparel, footwear and textile industries. Read more
•Nordstrom Announces Closing Of $675 Million Of Senior Unsecured Notes
Nordstrom Inc. announced the closing of its previously announced offering of $250 million aggregate principal amount of its 2.300 percent senior notes due 2024 and $425 million aggregate principal amount of its 4.250 percent senior notes due 2031. Read more
•SITKA Opens Retail Store In Bozeman, MT
SITKA announced the opening of its first experience center, the SITKA Depot. The 3,000-square-foot retail store will offer a full brand experience. Read more
•OARS Releases 2021 Western Rafting Outlook
With an underwhelming snowpack that’s hovering at average to below average across much of the western U.S., rafting outfitters anticipate normal whitewater conditions this year. According to OARS, which released its 2021 Rafting Outlook this week, there’s plenty to look forward to as the season gets underway, including record demand for river trips. Read more
•Foot Locker Releases 2019/20 Impact Report
Foot Locker Inc. released its Impact Report, which describes the company’s efforts to advance its environmental, social and governance (ESG) priorities. Read more
•Buckle’s March Sales Triple
Buckle Inc. announced that net sales for the 5-week fiscal month ended April 3, 2021, increased 240.2 percent to $139.4 million from net sales of $41.0 million for the prior year 5-week fiscal month ended April 4, 2020. Read more
•Topps Going Public through SPAC Merger
Topps, the trading card company, is going public by merging with a blank-check firm in a deal that values the company at $1.3 billion. Read more
•VF Corp Opens New Warehouse In Leicestershire
VF Corporation, through its local subsidiary VF Northern Europe Limited, announced it has begun operations at its new multimillion-dollar fulfillment center in Bardon, Leicestershire, England employing approximately 250 people during peak periods. Read more
•Galvin Green Appoints New GM And Sales Director In North America
Galvin Green has appointed Tom Romano as its new general manager in North America and Lou Delfino as director of sales to accelerate its growth plans in the U.S. Read more
•Callaway Golf’s Debt Lowered On Topgolf Acquisition
S&P Global Ratings lowered its debt rating on Callaway Golf Co. to ‘B’ from ‘B+’ due to the completion of its merger with Topgolf International Inc. Read more
April 7, 2021
•Topgolf’s Debt Ratings Upgraded On Callaway Merger
S&P Global Ratings upgraded the debt ratings of Topgolf International Inc. to ‘B-‘ from ‘CCC+’ on the completion of its merger with Callaway Golf Co. The outlook remains negative. Read more
•RECALL: Goal Zero Power Cables
About 7,850 EC8 Power Cables from Goal Zero are being recalled. According to a statement from the U.S. Consumer Product Safety Commission, the pins inside the connector on the power cord can deform and overheat, posing a fire hazard. Read more
•Nike And Lululemon Gain Ground In Piper Sandler’s Semi-Annual Teen Survey
Nike and Lululemon earned new highs is mindshare while Under Armour’s improved, according to Piper Sandler’s 41st Semi-Annual Generation Z Survey. Adidas fell to No. 5 in clothing mindshare, the brand’s lowest level since Fall 2017. Read more
•North Face Innovation Expert To Lead Stanford’s LifeLabs Textile Start-Up
Scott Mellin, who previously served as the innovation leader at The North Face for FutureLight and The Advanced Mountain Kit, has been named CEO of LifeLabs Design, Inc., a Stanford University-supported textile start-up focused on sustainable solutions. Read more
•NRF: Retail Import Surge Expected Through Summer
The unprecedented surge of imports at retail container ports that began last summer is expected to continue at least through the end of this summer as retailers work to meet increased consumer demand, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. Read more
•PlayerData Secures Investment
Hiro Capital led a $2.3 million investment in Edinburgh, UK-based team sports tracking platform PlayerData. Also investing in the round is Sir Terry Leahy, formerly CEO of British retailer Tesco. Read more
•Hyperice Partners With U.S. Soccer Federation
Hyperice reached a multi-year partnership to become U.S. Soccer’s first-ever Official Recovery Technology Partner. Read more
•A.LEAF Products Appoints Sales & Marketing Executive
A.LEAF Products, based in Redondo Beach, CA, has hired Rick Goralnick to service the brand’s Sales & Marketing efforts on the East Coast. Read more
•Davidson’s Becomes First Distributor Patron Member Of The NSSF
Davidson’s, Inc. announced that it has been approved by the National Shooting Sports Foundation (NSSF) to become a Patron member. Read more
•Under Armour Marketing Exec Joins Walmart
Walmart appointed Courtney Carlson, former head of North American marketing at Under Armour, as SVP of category marketing, developing strategies and programs for its core retail business units. Read more
April 6, 2021
•Slinger Bag To Expand To Czech And Slovak Republics
Slinger Bag announced its launch into the Czech and Slovakian markets via a distribution partnership with Prague-based RaketSport s.r.o. Read more
•FDRA: Casual Shoes Expected To Lead Spring Footwear Sales
Casual shoes/sneakers ranked as the most popular shoe choice this Spring, among 53 percent of likely shoe buyers, according to a survey commissioned by the FDRA as part of its Spring 2021 Footwear Buying Trends report. Running or gym shoes were the next most popular choice with 32 percent, followed by work shoes or other footwear with 9 percent, and fashion-focused shoes with 5 percent. Read more
•New Balance Appoints Creative Director MADE In USA
New Balance has appointed Teddy Santis creative director of its MADE In USA sub-line. Read more
•Inner Armour Sports Nutrition Brand Sold To New Owners
Inner Armour Sports Nutrition has been sold a new ownership team that includes six-time UFC champion Randy Couture. Read more
•Implus Appoints CFO
Implus LLC appointed Kyle Macemore as chief financial officer. Read more
•Springfield Armory To Expand Facilities And Headquarters
Springfield Armory announced the groundbreaking for a new facility at Geneseo, IL, which will expand its manufacturing capabilities and provide a new headquarters location. Read more
•G-III Apparel’s Debt Ratings Upgraded
S&P Global Ratings raised the debt ratings of G-III Apparel Group Ltd. to Stable From Negative as profit and free operating cash flow generation significantly outperformed its expectations in fiscal 2021. Read more
•Former Nike Marketing Manager Pleads Guilty In Criminal Case
Errol Andam, a former Nike marketing manager, pled guilty to alleged wire and mail fraud, according to The Oregonian. In early February, federal prosecutors claimed that Andam defrauded Nike of nearly $1.5 million. He was accused of wire fraud, money laundering and making false statements on a loan application as part of a scheme to defraud Nike. Read more
•HandsFree Labs Closes $3 Million Funding Round
HandsFree Labs, Inc., which in 2019 secured investment from Nike, announced it has secured a $3 million round of financing led by the Frazier Group. Read more
April 5, 2021
•Alterra Mountain Company Appoints COO, Resorts
Alterra Mountain Company announced the promotion of Mark Brownlie, current president of Mammoth Mountain and June Mountain and regional chief operating officer (RCOO), Western Region, to chief operating officer, Resorts for Alterra Mountain Company. Read more
•Franklin Sports Partners With Professional Pickleball Association
Franklin Sports and the Professional Pickleball Association (PPA) announced a collaborative partnership. Anchoring the partnership is the newly launched Franklin Cup, an award that will go to the top players across each PPA division on the men’s and women’s sides. Read more
•Exped USA Suspends Third-PartyMarketplace Presence
Exped USA said it will no longer permit dealers to sell Exped products through third-party (3P) vendors. Third-party sites include, but are not limited to, Amazon.com, eBay.com and Walmart.com. Exped will not be pursuing a direct relationship with any third-party vendors at this time. Read more
•OIA Applauds Introduction Of Civilian Climate Corps Act 88 Years After Its Introduction Under FDR
Outdoor Industry Association (OIA) applauded a new bill to provide $10 billion to create a Civilian Climate Corps. Read more
•Bass Pro Shops Appoints Chief Sustainability Officer
Bass Pro Shops and Cabela’s announced that Phil Graves has been named chief sustainability officer. He formerly served as vice president of corporate development at Patagonia and led Patagonia’s $79 million Tin Shed Ventures corporate venture capital unit. Read more
•Dick’s SG Announces Grand Opening of ‘Dick’s House of Sport’ And Elevated Golf And Soccer Offerings
Dick’s Sporting Goods will expand its national footprint with the opening of its first Dick’s House of Sport, a new concept store in Victor, NY, on April 9, and two Warehouse Sale locations and experiential Soccer Shops in select locations in April. The retailer will also debut nine newly redesigned Golf Galaxy locations and expanded technology offerings in 62 Golf Galaxy locations. Read more
•Nautilus Names Chief Supply Chain Officer
Nautilus Inc. hired John Goelz as its chief supply chain officer. He previously worked for Master Lock and Rockwell Automation. Read more
•Saucony Appoints Fábio Tambosi As Chief Marketing Officer
Saucony has announced the appointment of Fábio Tambosi to the position of Chief Marketing Officer, effective immediately. Read more
•Swag Golf Forms MLB Partnership
Swag Golf announced an agreement with Major League Baseball to produce golf headcovers for each of its 30 teams. The announcement follows the news of Swag Golf’s acquisition of Ecktron Performance (EP Headcovers) less than two weeks ago. Read more
•Club Champion To Open Three New Fitting Studios
Custom club fitter Club Champion announced the opening of three fitting studios this month in Williamsville, NY; Myrtle Beach, SC; and Tucson, AZ. The brand now has 82 stores nationwide and is looking to continue its expansion later this spring. Read more
•Markwort Sporting Goods Acquires Xelerator
Markwort Sporting Goods Company announced its acquisition of the second generation Xelerator Fastpitch Softball Trainer from Ken Roudybush. Read more
•Nike’s Former COO Joins Olvin’s Board
Former Nike COO Eric Sprunk has joined the board of New York and London-based Olvin, a predictive AI-driven start-up providing analytics to retailers. Read more
Photo courtesy Hoka One One + Global Athlete Ambassador Latoya Shauntay Snell
