The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of August 3o, 2021 covered in the SGB Updates and delivered to your inbox every business day.
This week’s Ambassador Athlete is a Fila-sponsored WTA and ATP Tour player, 17-year-old professional tennis player Robin Montgomery. A native of Washington DC, Robin trains at the FILA-sponsored Junior Tennis Champions Center (JTCC) with a world-class training program that offers opportunities for junior players from all backgrounds to reach their full potential. To learn more about Robin, go here.
September 3, 2021
»Catch Co. Acquires Recur Outdoors
Catch Co. announced that it has acquired Recur Outdoors, a Boston-based startup with a diverse mix of fishing products including a fly-fishing monthly subscription service, Wade fly-fishing rods, Pelican fly-fishing reels, and the Badfish saltwater brand. Read more
»Thor Industries Acquires Airxcel
Thor Industries Inc. announced it has acquired Wichita, KS-based AirX Intermediate, Inc. for $750 million. Read more
»Recall: SKE Outdoors Kids Bike Helmets
About 860 TurboSke kids’ toddler bike helmets from SKE Outdoors are being recalled. The bicycle helmets do not comply with the U.S. CPSC federal safety standard for bicycle helmets posing a risk of head injury. Read more
»Lands’ End’s Q2 Revenues Advance 23 Percent
Lands’ End Inc. reported earnings more than tripled in the second quarter ended July 30 as sales grew 23.1 percent. Read more
September 2, 2021
»NPD Report: Back-To-School Athletic Footwear Sales Off To Healthy Start
Overall athletic footwear sales in the first six weeks of the back-to-school season, ending August 14, 2021, grew by 20 percent versus 2020 and in the high-single-digits versus 2019, according to the NPD Group. Read more
»U.S. Tennis Sales Surge In The First Half
New figures from The Tennis Industry Association and Sports Marketing Surveys show robust growth in U.S. tennis racquet, ball, and string sales in 2021. Read more
»Tilly’s Announces Record Quarterly Net Sales And Earnings
Tilly’s Inc. reported earnings nearly quadrupled in the second quarter ended August 1 as sales gained 49 percent. Read more
»Nordstrom’s Debt Ratings Lowered By Moody’s
Moody’s Investors Service downgraded Nordstrom Inc.’s debt ratings because its performance lagged the recovery demonstrated by many of its department store and off-price peers in 2021. Read more
»The Gap’s Debt Upgraded On Improving Operating Momentum; Outlook Positive
S&P Global Ratings raised its debt ratings on Gap Inc. reflecting improving operating performance, strengthening credit metrics, and supported by a favorable macroeconomic backdrop. Read more
»Legacy Sports Appoints Mid-West Sales Director
Legacy Sports International announced the hiring of Darren Jacobson, Mid-West sales director, whose territory includes Wisconsin, Minnesota, Missouri, Iowa, and Illinois. Read more
»Whoop Acquires Push
Whoop announced the acquisition of Push, a Toronto-based sports technology startup, in a cash and stock transaction. Read more
»Duluth Holdings Q2 Sales Gain 9 Percent, Unveils Big Dam Blueprint Plan
Duluth Holdings Inc. reported earnings rose 52.5 percent in the second quarter ended August 1 as sales grew 8.6 percent. The apparel retailer also unveiled a new Big Dam Blueprint improvement program that follows the appointment of Sam Sato as CEO. Read more
»G-III Apparel’s Q2 Sales Vault 63 Percent
G-III Apparel Group, Ltd. raised its full-year guidance after reporting second-quarter sales and earnings topped expectations. Read more
»Nautilus To Acquire Motion Technology Start-Up
Nautilus Inc. announced that it has entered into a definitive agreement to acquire VAY, a motion technology company. The acquisition gives Nautilus the ability to scale its JRNY digital platform with additional technologies to advance its motion tracking capabilities for real-time data analysis during workouts. Read more
»The Buckle’s August Comps Expand 43 Percent
Buckle Inc. announced that comparable store net sales, for stores open at least one year, for the 4-week period ended August 28, 2021, increased 42.7 percent year-over-year. Read More
»NICS Firearms Background Checks Again Slide In August
The August 2021 NSSF-adjusted National Instant Criminal Background Check System (NICS) decreased 21.1 percent in August against inflated demand a year ago tied to the pandemic. Read more
»Genesco Delivers Record Second Quarter
Genesco Inc. delivered record second-quarter profitability for its footwear businesses that far exceeded expectations. Sales were up 25 percent at Journeys, up 48 percent at Schuh, and ahead 154 percent at Johnston & Murphy. Read more
September 1, 2021
»Moose Knuckles Appoints CEO
Canadian luxury outerwear and sportswear brand, Moose Knuckles, said Victor Luis has been appointed CEO. Read more
»Hoka Opens First Two Stores
Hoka One One announced the opening of its first retail locations. The brick and mortar bi-coastal pop-ups will be located in New York City and Los Angeles. Read more
»Former Nike Football Head Joins Relo Metrics Board
Relo Metrics, the AI-powered sponsorship analytics platform formerly known as GumGum Sports, announced that Marc Reeves, former head of brand for football at Nike, has joined its Board. Read more
»Smith & Wesson’s Fiscal Q1 Revenues Expand 20 Percent
Profits at Smith & Wesson Brands Inc. rose 64.9 percent on an adjusted basis in the second quarter ended July 31 as revenues gained 19.5 percent. Read more
»Sportsman’s Warehouse Sees 10 Percent Same-Store Decline In Second Quarter
Sportsman’s Warehouse Holdings, Inc. reported earnings on an adjusted basis declined 42 percent in the second quarter ended July 31 as same-store sales declined 10 percent. The retailer was facing elevated demand in the year-ago period tied to the pandemic. Read more
»Norrøna Invests In The U.S.; Adds Three Sales Agencies
Norrøna has strengthened its U.S. sales with the addition of agencies Summit Sales NW in the Pacific Northwest, Black Dog Sales Group in the Rocky Mountains and Intermountain West and Bluebird Sales Group in the Northeast. Read more
»AFFTA Postpones International Fly Tackle Dealer Show
The American Fly Fishing Trade Association (AFFTA) Board of Directors announced that the 2021 International Fly Tackle Dealer (IFTD) show, scheduled for October 20-22 in Salt Lake City, UT, has been postponed until 2022 .Read more
»Drive Shack To Open New Puttery Concept In Texas
Drive Shack Inc. announced the opening of a new concept, Puttery, in The Colony, TX. Read more
»OvareVentures Expands Retail Presence With Purchase Of Kenver, Ltd.
OvareVentures is expanding its retail presence and adding to its outdoor portfolio with the purchase of Massachusetts-based Kenver, Ltd., a sportswear boutique and outdoor retail hub. Read more
»CODI Completes Simplification Of Tax Structure
Compass Diversified (CODI) announced that it has completed its planned tax reclassification. Effective Wednesday, Compass Diversified Holdings will be treated as a corporation for U.S. federal income tax purposes. Read more
»iFIT Health & Fitness Files For IPO
iFIT Health & Fitness, which sells connected fitness equipment and subscriptions under brands including iFIT and NordicTrack, filed for an initial public offering with the Securities & Exchange Commission to raise up to $100 million. Read more
August 31, 2021
»Athleta Launches E-Commerce In Canada
Athleta, owned by Gap Inc., launched e-commerce in Canada. Athleta first announced its expansion into Canada in April as part of its growth plan to reach $2 billion in net sales by 2023. Read more
»Public Lands Announces Initial Conservation Partners
Public Lands, the outdoors-themed retailer from Dick’s Sporting Goods, announced the creation of The Public Lands Fund and partnerships with ten environmental nonprofit organizations. Read more
»Caleres Sees Q4 Revenues Climb 35 Percent
Caleres Inc. reported sales improved 34.7 percent in the second quarter ended July 31. The gains were driven by a 35.8 percent sales increase in the Famous Footwear segment and a 30.2 percent sales increase in the Brand Portfolio segment. Higher gross margins further helped the off-pricer deliver its most profitable quarter ever. Read more
»Sequential Brands Group Commences Voluntary Chapter 11 Proceedings
Sequential Brands Group Inc. announced that it, together with its wholly-owned subsidiaries, has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. Read more
»Flip Raises $28 Million Series A Round
Flip, the Los Angeles-based social commerce app, announced that it closed a $28 million Series A round led by Streamlined Ventures. Read more
»Allbirds Files To Go Public
Allbirds Inc. has filed with the Securities & Exchange Commission for an initial public offering. Net revenue rose to $219.3 million in 2020 from $193.7 million in 2019. Read more
»NPD Report: Equipment Sales In U.S. Sports Specialty Market Grow In First Half 2021
NPD Group reported that equipment sales at sports specialty retail grew by 23 percent in the first half of 2021, compared to the same pre-pandemic period in 2019. Read more
»Avid Apparel Secures Investment
Avid Apparel announced that it has secured an investment from Alignvest Management Corporation in partnership with EGADS Group. Read more
»Former Adidas Brand Chief Launching Sustainable Streetwear Brand
Eric Liedtke, who formerly led global brands at Adidas, is launching a zero-waste, zero-plastic streetwear brand called Unless, according to Business Of Fashion. Read more
»Designer Brands’ Q2 Profits Handily Top Wall Street’s Targets
Designer Brands Inc., the parent of DSW, reported earnings on an adjusted basis in the second quarter ended August 1 were more than double Wall Street’s targets. The company said it achieved record-setting second-quarter sales and gross profit at the U.S. Retail segment. Comparable sales were up 84.9 percent year-over-year. Read more
August 30, 2021
»WHP Global Acquires Lotto
WHP Global has acquired the global trademarks for the Italian sports brand Lotto. Lotto Sport Italia S.p.A. (LSI) and its current leadership team, including CEO Andrea Tomat, will continue to operate the Lotto brand in the core markets of Italy, Europe, the Middle East, and Africa. Read more
»OvareGroup Outdoor Appoints President
The OvareGroup, based in Los Angeles, hired retail veteran Kara Anastasiadis as president of the newly formed OvareGroup Outdoor division. Read more
»US Sports Camps Acquires U.S. Baseball Academy And U.S. Softball Academy
US Sports Camps (USSC), the official provider of Nike Sports Camps, announced the acquisition of U.S. Baseball Academy’s network of youth baseball camps and its sister company, U.S. Softball Academy, (collectively, USBA). Read more
»Eight Sleep Raises $86M Series C
Eight Sleep has closed $86 million in Series C funding led by Valor Equity Partners, with participation from other funds, including SoftBank, Khosla Ventures, Founders Fund, and General Catalyst. Read more
»Whoop Raises $200M In Funding Round
Fitness tracker firm Whoop announced that it has raised $200 million in a Series F funding round at a $3.6 billion valuation led by SoftBank Vision Fund 2. Read more
»Macy’s Appoints General Business Manager Of Apparel
Macy’s appointed Sam Archibald as general business manager of apparel. Archibald recently served as president of retail/outlets, North America, for Calvin Klein. Read more
»Alterra Mountain Company Acquires Purcell Heli-Skiing
Alterra Mountain Company announced it has purchased Purcell Heli-Skiing in British Columbia, Canada. The company will be incorporated into its mountain experience, CMH Heli-Skiing & Summer Adventures. Read more
»NRF Encouraged By White House Appointment To Address Supply Chain Issues
The National Retail Federation issued a statement applauding the appointment of John D. Porcari as Port Envoy to address supply chain disruptions. Read more
»Gildan Publishes Lastest ESG Report
Gildan Activewear Inc. announced the publication of its 17th Environmental, Social and Governance (ESG) report. The 2020 ESG Report outlines its approach and commitment to ESG, the company’s 2020 performance results and key priorities to continuing its vision of Making Apparel Better. Read more
Photos courtesy USTA
