The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of April 26, 2021 covered in the SGB Updates and delivered to your inbox every business day.
—
This week’s Ambassador Athlete is Shelma Jun
Arc’teryx sponsored Climber and
featured athlete in “Women of Adventure: Being Brave in a Big World,” a children’s book featuring six stories collected from the Garmin Women of Adventure series that spotlights strong women who have overcome great obstacles, accomplished amazing feats and aren’t bound by convention. Written and illustrated by Garmin associates, the book captures the traits that make each woman unique while touching on the science behind her sport or passion, to encourage young readers to explore the world and find ways to be brave every day. To learn more about Shelma, go here.
—
May 21, 2021
»Moody’s Upgrades Debt Ratings Outlook On Under Armour
Moody’s Investors Service changed Under Armour, Inc.’s outlook to positive from negative. Stated Mike Zuccaro, Moody’s Vice President, “The affirmations and positive outlook reflect Under Armour’s improved operating performance and credit metrics as well as very good liquidity.” Read more
»Gymshark Hires Chief Product Officer
Gymshark appointed Danielle Petesic as its chief product officer. She was most recently Lululemon’s vice president of product development. Read more
»VF Corp.’s Q4 Sales Top Wall Street’s Target
VF Corp. reported sales in its fiscal fourth-quarter beat top-line estimates but earnings came in slightly below targets. Sales in the quarter grew 19 percent on a currency-neutral basis, led by a 23 percent gain by The North Face. Vans’ sales grew 10 percent and Timberland’s sales gained 19 percent on a currency-neutral basis. Read more
»Foot Locker Blasts Past Earnings Forecast Amid Soaring Sales
Foot Locker Inc. reported earnings and sales that came in well above pandemic-impacted year-ago levels as well as easily ahead of Wall Street’s targets. Total sales increased 83.1 percent year over year. As compared to the first quarter of 2019, total sales advanced 3.6 percent. Read more
May 20, 2021
»Alterra Mountain Company Names New President and COO Of Solitude Mountain Resort
Alterra Mountain Company announced that Amber Broadaway has been selected as President & Chief Operating Officer of Solitude Mountain Resort in Utah. Read more
»PeopleForBikes Board Meets Virtually To Expand On + Off-Road Cycling
PeopleForBikes Coalition Board of Directors, comprised of 22 bike industry leaders, met virtually for its semi-annual meeting on May 18. (Read More)
»Ross Stores Sees 17 Percent Q1 Gain
Ross Stores Inc. reported earnings per share for the 13 weeks ended May 1, 2021 grew 17 percent to $1.34 on a two-year basis on net income of $476 million. Read more
»Deckers Brands’ Q4 Eclipses Wall Street’s Targets
Deckers Brands reported earnings and sales in the fourth quarter ended March 31 came in well above Wall Street’s consensus targets. Sales grew 49.7 percent with sales ahead 53.1 percent at Ugg and 74.2 percent at Hoka One One. Read more
»Dometic Acquires Front Runner Vehicle Outfitters
Dometic has entered into an agreement to acquire Front Runner Vehicle Outfitters, a provider of roof racks, load bars, storage solutions, and off-road accessories. Read more
»Kathmandu Appoints New CEO
Kathmandu Holdings Limited announced the appointment of Michael Daly, CEO of Rip Curl, as group chief executive officer and managing director following the resignation of Xavier Simonet, chairman of Kathmandu Holdings. Read more
»Arc’teryx Appoints VP, Brand
Arc’teryx Equipment announced the appointment of Karl Aaker to the role of VP, brand, effective immediately. He formerly worked for Lululemon and Nike. Read more
»Kohl’s Hikes Outlook As First-Quarter Results Far Exceed Expectations
Kohl’s Inc. significantly increased its earnings outlook for the year after reporting first-quarter results that came in well ahead of Wall Street’s targets. Said Michelle Gass, Kohl’s CEO, “We saw momentum build through the quarter, especially in our stores where we continue to elevate the experience.” Read more
May 19, 2021
»Shoe Carnival Sees Record First Quarter Profits
Shoe Carnival Inc. reported earnings in the quarter ended January 30 came in significantly higher than Wall Street’s targets as sales more than doubled against a pandemic-depressed year-ago period. Comparable store sales increase of 125.8 percent and an all-time high store conversion rate was achieved. Read more
»Peloton Releases Software Fix For Recalled Treadmills
Peloton released a software update for its treadmills to address safety issues that followed a massive recall. Read more
»TJX’s Q1 Results Beat Wall Street Expectations
TJX Cos. reported earnings and sales came in well ahead of year-ago pandemic-impacted levels and easily topped Wall Street targets. TJX’s report also indicated that Sierra Trading had 52 locations open at the close of the quarter, up from 48 a year ago. Read more
»Arizona’s First Scheels To Open Fall 2023 In Chandler
Scheels announced plans to bring its first location to Arizona, opening Fall of 2023 in Chandler. The shopping destination is planned for the Chandler Fashion Center after a full renovation and expansion of a vacant building and will feature 220,000 square feet of retail space. Read more
»Beachbody And Myx Show Strong First Quarter Revenue Growth
Forest Road Acquisition Corp. and The Beachbody Company Group LLC announced combined financial results for Beachbody and Myx Fitness Holdings, LLC for the first quarter of 2021. Results reflect continued strong revenue momentum and levels of customer engagement and retention at Beachbody and Myx. Read more
»Under Armour To Increase Minimum Pay Rate To $15 Per Hour
Under Armour announced plans to raise its minimum pay rate for hourly employees in the United States and Canada effective June 6. Read more
»Clif Bar Names New Executive Leaders
Clif Bar & Company announced the hiring of three consumer packaged goods-industry executives to drive the company’s next stage of growth and expansion. They are Shaunte Mears-Watkins, chief commercial officer; Roma McCaig, senior vice president of impact and communications and Hari Avula, chief financial and strategy officer. Read more
»Honey Stinger Partners With Spartan 2021/22 Race Season
Honey Stinger announced it has partnered with Spartan, the endurance sports and wellness brand, becoming its official “On-Course Energy Partner” of the 2021/22 Spartan U.S. event season. Read more
»USTA Announces ‘Growing the Game’ Grants
The USTA (United States Tennis Association) announced the next phase of its funding to continue building the sport of tennis. The additional funding, with the support and services of the USTA and the 17 USTA sections amounted to a total of $50 million infused into the tennis economy by the sport’s national governing body. Read more
»Target’s Q1 Comps Jump 23 Percent
Target Corp. reported a significant hike in first-quarter earnings as same-store sales ran up 22.9 percent. Read more
»Sezzle Appoints Director Of Brand Partnerships
Sezzle, a financial technology company, appointed Jason Volk as Director of Brand Partnerships for the Outdoor & Sporting Goods categories. Read more
»Stone Glacier Breaks Ground On New Headquarters
Stone Glacier, a manufacturer of outdoor equipment, has begun construction of its new business headquarters in the heart of Bozeman, MT. Read more
»Hanesbrands’ Debt Ratings Affirmed On Three-Year Plan; Outlook Negative
S&P Global Ratings retained its debt rating on Hanesbrands and kept its outlook negative after the company presented its three-year growth plan amid an evolving outlook for the U.S. apparel industry, one year after the onset of the pandemic. Read more
»Slinger Bag Secures South Africa Distribution Deal
Slinger Bag announced its launch into the South African market with a five-year exclusive distribution partnership with The Golf Racket Pty Ltd. Read more
»Vista Outdoor Forms Vista Outdoor Corporate Foundation
Vista Outdoor Inc. announced the launch of its Vista Outdoor Corporate Foundation and an accompanying $3 million initial contribution. Read more
May 18, 2021
»PGA Shows Sets Events For Orlando And Las Vegas
PGA Golf Exhibitions, in partnership with the PGA of America, announced several initiatives regarding its annual PGA Show and year-round programs to connect the industry and drive the golf business forward. Read more
»V1 Sports, Hires Chief Revenue Officer And Director Of Software Engineering
V1 Sports, creator of the golf swing analysis software for teaching pros and golfers, recently welcomed two significant additions to its growing product team with the hiring of Chris McGinley as chief revenue officer and new director of software engineering Michael Boumansour. Read more
»CPSC Report Highlights Importance Of Bike Helmets
The U.S. Consumer Product Safety Commission (CPSC) issued a new report from the Centers for Disease Control and Prevention (CDC) showing how important helmets are to preventing injuries and deaths. The report showed that between 2009 and 2018 there were nearly 597,000 bicycle-related traumatic brain injuries treated in hospital emergency departments (ED) in the U.S. Read more
»Patagonia Has Top Corporate Reputation In Axios Harris Poll
Patagonia sits atop the 2021 Axios Harris Poll 100 list of corporations that rank them by reputation, a 31 spot improvement from last year. Also scoring well on the list were Costco, Amazon, REI, Adidas, and Nike. Read more
»Outdoor Research Hires GM To Drive Military And Tactical
Building on its U.S. and off-shore manufacturing capabilities, Outdoor Research (OR) hired David Hein as General Manager, Military and Tactical. Read more
»TeamSnap Hires COO And Advertising Chief
TeamSnap announced the hiring of Brian Caulfield as its new chief operating officer and Nicole McCormack as general manager of advertising and commerce. Read more
»Icon Source Closes $1.6 Million Funding Round
Icon Source closed a $1.6 million seed round. The funding will support the company’s expansion as it adds to its sales team, improves its digital platform and prepares to facilitate deals for college athletes on July 1, 2021. Read more
»The Running Event Partners With Running USA
The Running Event (TRE) announced a partnership with Running USA to develop and implement conference programming for race directors at the event taking place from November 30 to December 2, 2021, in Austin, TX. Read more
»Macy’s Posts Surprise Profit
Macy’s Inc. reported a surprise first-quarter profit and lifted its outlook for the year. Read more
»Fila USA’s Q1 Sales Climb 25 Percent
Korea-based Fila Holdings reported Fila USA’s sales climbed 24.6 percent in the first quarter. Companywide sales rose 25.1 percent in the quarter and earnings more than doubled. Read more
May 17, 2021
»Moody’s Assigns B2 To Academy’s New Senior Secured Notes
Moody’s Investors Service assigned a B2 rating to Academy, Ltd.’s proposed term loan due 2027. Read more
»DeltaTrainer Raises $3.3M
DeltaTrainer has raised a $3.3 million round of seed funding led by TenOneTen Ventures, with participation from Alpha Edison, Maven, and other angel investors. Funds will be used to hire technical talent, expand the company’s roster of personal trainers, and for marketing and customer acquisition. Read more
»Run Show Boston Adds To Speaker Line-Up
The inaugural Run Show USA event, scheduled January 29-30, 2022, at Boston’s Hynes Convention Center, added Joe De Sena, Dave McGillivray and Chris Kostman to its roster of speakers. Read more
»Supreme Design Director Joins J. Crew
J.Crew Group appointed Brendon Babenzien, co-founder of Noah and former design director at Supreme, as creative director for J.Crew Men’s. Read more
»Nikwax Makes New Hires To Broaden Marketing And Retailer Support
Nikwax announced new hires accompanying its recent North American headquarters move. Read more
»Report: Authentic Brands Group Makes $1 Billion Bid For Reebok
Authentic Brands Group (ABG) last week submitted an offer of around $1 billion to acquire Reebok from Adidas, according to the New York Post. ABG reportedly plans to partner with Wolverine World Wide, the parent of Saucony, Merrell and Sperry, on the bid. Read more
»Saks.com Raises $465 Million
Saks.com LLC, the recently spun-off online operations of Saks Fifth Avenue, has closed on a syndicated $350 million asset-based five-year revolving credit facility arranged by Bank of America, N.A., and a $115 million senior secured term loan arranged by Pathlight Capital LP. Read more
»Topps Appoints General Manager, International Sports And Entertainment
The Topps Company announced the appointment of Mark Catlin as general manager, International Sports and Entertainment. Catlin, currently the CEO of Portsmouth Football Club, will assume his new role effective June 1 and will report to the global manager of Sports and Entertainment David Leiner. Read more
»RILA Calls For Consistent Mask Guidance
The Retail Industry Leaders Association (RILA) issued a statement calling on state and local governments to coordinate to reduce conflicting guidelines around mask mandates. The statement came after the CDC last week said fully vaccinated people no longer had to wear masks in most settings. Read more
»Burlington Stores Exec To Lead Tuesday Morning
Tuesday Morning announced that Fred Hand, formerly chief operating officer of Burlington Stores, has been named chief executive officer and a member of the Board of Directors, effective May 17. Read more
»Play It Again Sports Parent Announces Run-off Of Leasing Portfolio
Winmark Corp, the parent of Play It Again Sports, announced that it would no longer solicit new leasing customers and would pursue an orderly run-off for its middle-market leasing portfolio. Read more
Photos courtesy Shelma Jun
