The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of February 22, 2021 covered in the SGB Updates and delivered to your inbox every business day.
February 26, 2021
•Camping World’s Q4 Sales Climb 17.5 Percent
Camping World Holdings Inc. reported sales grew 17.5 percent in the fourth quarter and 11.3 percent in the year ended December 31. Read more
•Big 5 Sporting Goods Enters Into New Five-Year Credit Facility
Big 5 Sporting Goods Corporation announced that it has entered into a new loan agreement with Bank of America. The loan agreement replaces the company’s prior financing arrangement. Read more
•Foot Locker’s Q4 Comps Dip 2.7 Percent
Foot Locker Inc. reported earnings in the fourth quarter topped Wall Street’s consensus estimate but sales came in short. Same-store sales in the period fell 2.7 percent. Read more
•Fox Factory Sees Q4 Sales Climb 41 Percent
Fox Factory Holding Corp. reported sales grew 41.2 percent in the fourth quarter. This increase reflects a 44.6 percent increase in Specialty Sports Group sales, and a 38.7 percent increase in Powered Vehicles Group sales. Read more
February 25, 2021
•Fanatics Enters China Through Joint Venture With Hillhouse Capital
Fanatics announced that it has formed a joint venture with Hillhouse Capital to support its expansion into China. Read more
•Under Armour Reduces Sponsorship Commitments By 47 Percent
Under Armour Inc. reduced its sponsorship commitments by 47 percent to $361.6 million in 2020 from $679.1 million in 2019, according to its just-released annual report. Read more
•Dynamic Brands Recognizes Top Sales Reps
Dynamic Brands recognized its top sales reps for their accomplishments in 2020. Covering the State of Michigan, Tony Greiner was named its Sales Representative of the Year. Read more
•Fabletics Launches First Workout App
Fabletics announced the launch of Fabletics FIT, a new app with hundreds of on-demand workouts and meditations to mark its entry into the at-home space. Read more
•OrderMyGear Appoints President
OrderMyGear announced Matt Kaplan as the company’s first president. As president, Kaplan will lead its global sales organization, account management, brand partnerships, and marketing. Read more
•REI Plans Special Member Reward Despite Annual Loss
REI reported that it didn’t make a profit in 2020 and consequently won’t be able to pay out its usual annual dividend to members. However, the Co-op said that because the year ended better than expected, a special reward would be paid to members. Read more
•Ignik Bolsters Sales Team With New Rep Groups
Ignik has hired two sales organizations to represent the brand—Adventure Marketing Group in the Southeast and Mountain High Sales & Marketing in the North Central Eastlake territory—securing nationwide coverage in its second year of business. Read more
•The Big Gear Show Names Marketing And Project Director
The Big Gear Show has hired Nisa Meineke as its marketing and project director, coming from a digital marketing, brand strategy and project management background in the cycling and outdoor space. Read more
•Rossignol Opens Aspen Retail Store
Building on its Aspen, CO retail “pop-up” boutique’s success, Rossignol opened a larger, permanent store in downtown Aspen. Read more
•MidwayUSA Promotes Matt Fleming To President And CEO
MidwayUSA promoted Matt Fleming to president and CEO. MidwayUSA founder, Larry Potterfield, relinquished his role as CEO but will continue to serve as chairman. Read more
•Gildan Activewear’s Q4 Sales Grew 4.8 Percent
Gildan Activewear reported sales rose 4.8 percent in the fourth quarter year-over-year while earnings on an adjusted basis improved 9.8 percent. Read more
•Wolverine Worldwide Exceeds Fourth-Quarter Revenue And EPS Expectations
Wolverine World Wide Inc. reported sales were down 16.1 percent in the fourth quarter and earnings also were below year-ago levels but results were ahead of Wall Street’s targets and the company predicted an “accelerated recovery” in 2021. Owned eCommerce revenue grew 50 percent in 2020. Read more
•Acushnet’s Q4 Revenues Jump 14 Percent
Profits at Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, rose 20.7 percent in the fourth quarter ended December 31 on a 14.2 percent revenue gain. Read more
•Rocky Brands’ Q4 Sales Climb 16 Percent
Rocky Brands Inc. reported earnings climbed 91.1 percent in the fourth quarter on a 16.2 percent revenue gain. Read more
February 24, 2021
•CODI’s Q4 Sales Expand 23 Percent
Compass Diversified (CODI) reported sales for the quarter ended December 31, 2020 were $474.8 million, as compared to $387.0 million for the quarter ended December 31, 2019, representing a gain of 22.7 percent. Read more
•Gap To Build Texas Distribution Center To Support Online Growth
Gap Inc. announced plans to open a new state-of-the-art Customer Experience Center in Longview, TX to support Old Navy’s growing online business. Read more
•Belk Files For Bankruptcy
Belk Inc., as expected, filed for bankruptcy protection in Houston, TX commencing “Pre-Packaged, One Day” reorganization. The plan calls for the reduction of $450 million in debt from the department store’s balance sheet and a $225 million capital infusion, supplied by Belk lenders and its private-equity owner Sycamore. Read more
•REI Expands Mobile Work Practices
REI announced that it has both identified the first of its future satellite offices in Issaquah, WA and will test a model that allows employees to work up to five days a week from home. The moves follow REI’s sale last September of its newly completed corporate campus in Bellevue, WA, with plans to shift to a more distributed work model. Read more
•Poler Stuff Continues Expansion In U.S. And Europe; Announces New Sales Representation
Poler Stuff announced today the launch of its upcoming Spring 2021 collection with national and specialty retailers, including Zumiez, REI, Urban Outfitters, Nordstrom, Tilly’s, Tactics, Evo, and Jack’s Surfboards. The brand has also appointed the following sales agencies in the U.S. and U.K. Read more
•NRF Forecasts Retail Sales Between 6.5 Percent And 8.2 Percent In 2021
The National Retail Federation issued its annual forecast, anticipating that retail sales will grow between 6.5 percent and 8.2 percent to more than $4.33 trillion in 2021 as more individuals get vaccinated and the economy reopens. Read more
•Fleet Feet Adds Five Stores In 2020, Makes Key Hires
Fleet Feet announced significant growth in 2020 as it added five stores to close with 182 and saw triple-digit growth of its e-commerce site. The franchisor also hired a head of human resources and marketing and made several promotions to support future growth. Read more
•Stio Appoints Vice President Of Marketing
Stio has named Evan Torrance as vice president of marketing. Torrance joins the executive leadership team and reports to president Noah Waterhouse. Read more
•Play It Again Sports Parent Sees Modest Earnings Decline In 2020
Winmark Corporation, the parent of Play It Again Sports, reported net income for the year ended December 26, 2020 of $29.8 million, or $7.72 per share, down 7.2 percent compared to net income of $32.1 million, or $7.84, in 2019. Read more
•SRAM Acquires Time Sport’s Pedal Business
The SRAM Group announced it has acquired the Time Sport pedal business from Rossignol, which has now disposed of the brand entirely. Read more
•Puma’s Q4 Sales Climb 9 Percent, Sees Difficult First Half Of 2021
Puma reported sales grew 9.1 percent on a currency-neutral basis in the fourth quarter. With lockdowns currently closing about half of the retail stores selling Puma’s products in Europe, a challenging first quarter is expected. Recovery, however, is forecast near the end of the second quarter and strong improvements throughout the third and fourth quarter. Read more
•Impact Analytics Raises $11M In Funding Round
Impact Analytics Inc. closed on an $11 million growth financing led by Argentum Capital Partners IV, L.P. In connection with the financing, Walter H. Barandiarán, managing partner at Argentum, has joined Impact’s Board of Directors. Read more
•BoxUnion And Title Boxing Club Announce New Chief Operating Officer
BoxUnion Holdings, the parent company to Title Boxing Club and BoxUnion, has announced Justin Ghadery as its chief operating officer. Ghadery most recently serving as senior vice president of global operations for Gold’s Gym International. Read more
•Clubessential Holdings Announces Acquisition Of ForeUP
Clubessential Holdings announced the acquisition of ForeUP, a provider of public golf club management software. The acquisition expands its presence to public golf clubs and courses. Read more
•Champion Announces Collaboration With Muhammad Ali Brand
Champion Athleticwear and Authentic Brands Group (ABG) announced a multi-year collaboration for the Muhammad Ali brand. Read more
•TJX’s Comps Dip 3 Percent In Fourth Quarter
The TJX Companies, Inc. reported same-store sales were down 3 percent in the fourth quarter ended January 30 and turned positive in January. Read more
February 23, 2021
•Outdoor Retailer Shifts Summer 2021 Trade Show To August 10-12
Outdoor Retailer announced this summer’s trade show will move from June to August 10-12, 2021 and remain at the Colorado Convention Center in Denver, CO. The date change was made to facilitate a safe and successful in-person event. Read more
•Page’s Clarksville Sporting Goods To Close
Page’s Clarksville Sporting Goods in Clarksville, TN will close its doors on March 15 after 44 years in business. Read more
•Orvis Welcomes Former Backcountry And Athleta Execs To Board
Orvis welcomed former Backcountry and Athleta executives, Jill Layfield and Sheila Shekar Pollak to its board of directors, effective immediately. Read more
•Mad Dogg Athletics Calls Peloton’s Trademark Cancellation Action Meritless
Mad Dogg Athletics Inc. issued a statement in response to media and other inquiries related to the trademark cancellation petition filed last week by Peloton Interactive over Mad Dogg’s trademark for the words “Spin” and “Spinning.” Mad Dog Athletics said it’s “confident that Peloton’s legal action will fail.” Read more
•Dick’s SG Exits Charlotte’s Northlake Mall
Dick’s Sporting Goods has quietly closed its two-level store at the Northlake Mall in Charlotte, NC, according to a report from the Charlotte Business Journal. Read more
•VF Corp. Named One Of The World’s Most Ethical Companies For Fifth Consecutive Year
VF Corporation was recognized by Ethisphere as one of the 2021 World’s Most Ethical Companies. Read more
•Macy’s Q4 Comps Drop 17 Percent
Macy’s reported fourth-quarter earnings fell by about half but came in well ahead of analyst targets. Comparable sales fell 17 percent on an owned basis, but sales were also ahead of expectations, led by 21 percent e-commerce growth. Read more
•Crocs’ Q4 Revenues Jump 57 Percent
Crocs Inc. reported a significant hike in earnings in the fourth quarter as sales jumped 56.5 percent. The footwear manufacturer also forecasted first-quarter growth in the range of 40 percent to 50 percent. Read more
February 22, 2021
•Dillard’s Q4 Comps Decline 17 Percent
Dillard’s Inc. reported earnings were essentially flat in the fourth quarter as reduced markdowns and expenses helped offset a 17 percent decline in same-store sales. Read more
•Bass Pro Plans Senior Secured Term Loan Transaction
Bass Pro Group is proposing to offer a $4.1 billion senior secured term loan due 2028. The retailer intends to refinance its existing term loan facility in a one-for-one transaction to extend the maturity of the facility and to lower overall interest costs. Read more
•Nautilus’ Q4 Sales Surge 82 Percent
Nautilus, Inc. reported sales vaulted 82 percent in the fourth quarter and predicted sales to climb in the range of 55 percent to 75 percent in the first quarter. Sales growth was driven primarily by continued demand for connected-fitness bikes, like the Schwinn IC4, Bowflex C6 and VeloCore, as well as robust sales of SelectTech weights and Bowflex Home Gym. Read more
•Wintersteiger Partners With Head USA, Creates Working Showroom In Colorado
Wintersteiger NA announced its new North American partnership with Head USA. The collaboration, which is an extension of Wintersteiger’s partnership with Head Europe, has resulted in the opening of a new demo center and showroom at the Head USA headquarters in Boulder, CO. Read more
•NPD: U.S. Consumers Continue To Spend On Their Stay-At-Home Lifestyle In 2021
Aided by the economic stimulus payments and with the pandemic still in full swing, consumers continued to spend on categories that make their life at home more comfortable in the first six weeks of 2021, reports The NPD Group. Read more
•Escalade’s CEO Exits
Escalade Inc. said Scott Sincerbeaux has resigned from all of his positions with Escalade, including CEO, president and director. Walter Glazer has been appointed as Escalade’s interim chief executive officer and president. Read more
•Century 21 Planning Comeback
Century 21 Stores, which liquidated its stores last fall, announced plans to officially relaunch in 2021. Read more
•RYU Apparel Partners With Mexican Distributor
RYU Apparel Inc. has partnered with Mexico City-based fashion, athletic apparel and cosmetic distributor Grupo Pavel to sell RYU Apparel in Mexico. Read more
•Adidas Intends To Resume Dividend Payments
Adidas AG said its executive board has decided to resume the company’s dividend payments. Read more
•Crocs Wins Patent Appeal In Federal Circuit
The Federal Circuit ruled in favor of Crocs in deciding not to revive U.S.A. Dawgs’ intellectual property dispute against Crocs. Read more
•Walmart Promotes Denise Incandela To Lead Apparel
Walmart has appointed Denise Incandela, the current SVP for the company’s women’s group, elevated brands and e-tailers/DTCs, as its new head of apparel. Read more
•Kohl’s Activist Investors Seek To Take Control Of The Board
A group of activist investors with a combined 9.5 percent stake in Kohl’s Corp. are seeking to nominate nine people to the retailer’s 12-person board. Read more
•Camping World Acquires Lee’s Family Trailer In Maine
Camping World Holdings Inc. plans to acquire Lee’s Family Trailer in Windham, ME. The acquisition is anticipated to close in April 2021 and will be the company’s first location in Maine. Read more
•Hylete’s Revenues Slide 12 Percent In 2020
Hylete, the direct-to-consumer fitness apparel brand, reported sales of $11.1 million in 2020, down 11.9 percent from $12.6 million in 2019, according to a regulatory filing. Read more
•REI To Open Store In Santa Cruz This Fall
REI Co-op will open a new store in Santa Cruz, CA in fall 2021. With over 1.4 million lifetime REI members in Northern California, REI Santa Cruz will be the Co-op’s 15th location in the region. Read more
•BSN Sports Acquires Shively Sporting Goods
BSN Sports, a division of Varsity Brands, announced that it has acquired Shively Sporting Goods, based in Louisville, KY. Shively is liquidating its longtime storefront. Read more
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