The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of November 16, 2020, covered in the SGB Updates and delivered to your inbox every business day.
— November 20, 2020 —
›The Buckle’s Q3 Earnings See Sharp Uptick
The Buckle Inc. reported earnings rose 60 percent in the third quarter ended October 31 as same-store sales advanced 12.4 percent. Read more
›eBay Opens Its First Drive-Thru ‘Authentication Station’ In LA
eBay has converted a gas station in East Hollywood into a drive-thru ‘Authentication Station’ – offering customers a socially-distanced way to evaluate and sell sneakers, watches and collectibles, without leaving their vehicles. Read more
›Hibbett Sports’ Third-Quarter Earnings Surge
Hibbett Sports Inc. reported earnings increased more than four-fold in the third quarter as same-store sales climbed 21.2 percent. The retailer blew past estimates and raised its guidance for the year. Read more
›Lululemon Names Chief Financial Officer
Lululemon Athletica Inc. announced the promotion of Meghan Frank to Chief Executive Officer. Frank joined Lululemon in 2016, and, effective November 23, will become the company’s first female CFO. Read more
›Foot Locker’s Q3 Comps Jump 7.7 Percent
Foot Locker Inc. reported earnings on an adjusted basis grew 4.9 percent in the third quarter ended October 31 to handily exceed Wall Street targets. Same-store sales climbed 7.7 percent. Richard Johnson, chairman and CEO, said, “Although the back-to-school selling season kicked in later than usual due to COVID-19-related delays, momentum built as the quarter progressed.” Read more
— November 19, 2020 —
›Ugg’s Flagship Store Opens In NYC
Ugg’s new flagship store, located at 530 Fifth Avenue in New York City, opened today. A subsidiary of Decker Brands the concept store is the first for Ugg in the Big Apple with a 12,842-square-foot store that showcases its collections of footwear, ready-to-wear, accessories, and home. Read more
›Alterra Mountain’s Debt Ratings Downgraded
Moody’s Investors Service downgraded Alterra Mountain Company’s corporate family rating (CFR) to B2 from B1 and probability of default rating (PDR) to B2-PD from B1-PD. Read more
›Famous Footwear’s Q3 Revenues Decline 12.3 Percent
Caleres reported revenues at its Famous Footwear segment fell 12.3 percent in the third quarter ended October 31, to $391.7 million from $446,6 million a year ago. Same-store sales were down 9.1 percent. Read more
›Delta Apparel Reports 70 Percent Operating Profit Expansion In Q4
Delta Apparel Inc. reported net income rose 42.9 percent in the fiscal fourth quarter ended October 3 as sales advanced 8.1 percent. Net sales in the Delta Group and Salt Life Group segments increased 7.6 percent and 12.5 percent, respectively, over the prior-year period. Read more
›Ross Stores Sees Slight Same-Store Decline In Q3
Ross Stores Inc. reported third-quarter 2020 sales declined 2 percent to $3.8 billion, with comparable-store sales down 3 percent. Read More
›Mountain Hardwear Bolsters European Presence With New Distribution Partners
Mountain Hardwear announced the expansion of its international distribution to include four new distribution partners in Europe. Read more
›TeamSnap Expands Partnership With Positive Coaching Alliance
TeamSnap is expanding its nine-year partnership with the Positive Coaching Alliance. The expanded partnership is part of TeamSnap’s $1 Million commitment to improving access to sport for underserved youth athletes. Read more
›Tommy Hilfiger Appoints President And Chief Brand Officer
Tommy Hilfiger, which is owned by PVH Corp., appointed Avery Baker as president and chief brand officer, effective November 17, 2020. Read more
›Under Armour, The University Of Cincinnati Agree To Buyout
Under Armour has reached a buyout agreement with the University of Cincinnati, terminating its apparel sponsorship contract, according to documents obtained by the Baltimore Business Journal. Read more
›National Lacrosse League Partners With Fanatics
The National Lacrosse League announced a partnership with Fanatics, which will bring the league’s online merchandise and retail efforts into one consolidated location for all NLL clubs. Read more
›Lululemon Adds Board Member
Lululemon Athletica Inc. announced the appointment of Kourtney Gibson to serve on its Board of Directors. Gibson is President of Loop Capital Markets. Read more
›Camping World To Acquire All RV Needs
Camping World Holdings Inc. announced an agreement to acquire All RV Needs in Medford, OR. Read more
›Macy’s Posts Q3 Loss But Beats Estimates
Macy’s reported a loss on an adjusted basis in the third quarter that was significantly lower than Wall Street’s targets. Comparable sales were down 21.0 percent even as stores continued to recover and digital sales grew 27 percent. Read more
— November 18, 2020 —
›GoPro To Offer $100.0 Million Of Convertible Senior Notes
GoPro Inc. announced that it proposes to offer $100.0 million aggregate principal amount of convertible senior notes due 2025. Read more
›Shoe Carnival Posts A Robust Q3 Profit Gain
Shoe Carnival Inc. reported a slight increase in year-over-year earnings in the third quarter as same-store sales grew 0.9 percent and merchandise margins improved 160 basis points. E-commerce sales catapulted over 150 percent to represent 13 percent of sales. Read more
›RaceRaves Announces Best Racing Cities In The U.S.
RaceRaves announced the winners of its 2020 “Best Racing Cities in the U.S.” poll. The company’s new guide spotlights the Top 10 large, midsize and small racing cities. Not surprisingly Boston, Chicago and New York City remain a “major” draw. Read more
›Levels Raises $12M Seed Funding Round
Levels announced a $12 million seed round led by a16z, one of Silicon Valley’s top venture capital firms whose portfolio includes Airbnb, Facebook, Instagram, Lyft, Pinterest, Slack, Stripe, and Waymo. Read More
›GSM Outdoors Acquired By Gridiron Capital
GSM Outdoors, a portfolio company of Sentinel Capital Partners, L.L.C., has been acquired by Gridiron Capital, LLC. Terms of the transaction were not disclosed. Read more
›Brooks Running Sees 49 percent Global Growth In Q3
Brooks Running reported record third-quarter global revenue up 49 percent year-over-year, leading to a 2020 outlook of 27 percent growth. Digital sales, both through brooksrunning.com and retail partners, flexed from less than 35 percent of sales in 2019 to a peak of 82 percent of all sales this past April, and has since stabilized at 42 percent of sales, up 7 points from pre-COVID-19 levels. Read More
›Camping World Declares Special Dividend
Camping World Holdings Inc. announced that its Board of Directors declared a cash dividend of $1.00 per share on the company’s Class A Common Stock and a cash distribution of 29 cents per common unit on CWGS Enterprises, LLC’s common units. Read more
›Nike Senior Creative Director For Women Sportswear Joins Calvin Klein
Calvin Klein Inc. announced the appointment of Jessica Lomax as EVP, global head of design, effective December 9. She joins the company from Nike where she currently serves as senior creative director, women’s sportswear apparel. Read more
›Nike Launches Nike Unite Retail Concept
Nike Inc. has introduced a new Nike Unite concept focused on local communities. The concept represents its fourth retail specialty concept, joining Nike House of Innovation, Nike Rise and Nike Live. Nike plans to open nine Nike Unite worldwide locations in 2020, including five in the U.S. Read more
›Sally McCoy Joins Sea To Summit Global Leadership Team
Sea to Summit welcomed Sally McCoy to its global leadership team. McCoy accepted the newly created position of Executive Chair of Sea to Summit and will assume responsibility for the brand’s global strategy and expansion. Read more
›Target Posts Robust Q3 Profit Gains
Target Corp. announced its third-quarter 2020 financial results, which reflected continued, robust growth in both sales and profitability. Comparable sales grew 20.7 percent. Read more
›TJX’s Q3 Surpasses Wall Street Targets
The TJX Companies Inc. reported earnings grew slightly and easily topped Wall Street’s consensus estimate. Overall open-only comp-store sales were down 5 percent versus last year. Comps at Marmaxx (U.S.), including T.J. Maxx, Marshalls and Sierra Trading, were down 10 percent. Read more
›Adidas Partners With LeAD Sports & Health Tech
Adidas has formed a formal partnership with Berlin-based leAD Sports & Health Tech accelerator, which is backed by the family of Adidas founder Adi Dassler and supports start-ups. Read more
— November 17, 2020 —
›Logo Brands Strikes Licensing Deal With LSU
Logo Brands, Inc. has entered into a five-year exclusive licensing agreement for tailgate items with Louisiana State University, effective January 1, 2021. Read more
›Kind Bars Acquired By Mars
Mars Inc. will acquire Kind North America, the maker of Kind bars and one of the country’s largest snack food companies. Terms of the deal were not disclosed, but the New York Times cited sources who said the deal values Kind NA at $5 billion. Read more
›K-Swiss Appoints Director Of Tennis
K-Swiss appointed Dave Malinowski as director of tennis. He most recently worked for Adidas North America as senior director of specialty sports. Read more
›Exped USA Appoints Midwest Sales Team
Exped USA announced the addition of Parallel 45 Sales Group as brand partners. The Parallel 45 Sales Group will oversee strategy, sales and service in North Dakota, South Dakota, Nebraska, Missouri, Iowa, Illinois, Minnesota, Wisconsin, and Michigan’s Upper Peninsula. Read more
›NRF Reports: October Retail Sales Grew As Holiday Shopping Starts Early
Retail sales grew for the sixth month in a row in October, with sales significantly better than the same time a year ago as the economy continued to recover and consumers began their holiday shopping early, the National Retail Federation said. Read more
›MycoWorks Raises $45M In Series B Financing
MycoWorks, based in San Francisco, announced the closing of a $45 million Series B financing to scale up and meet the demand for Reishi, the natural, non-animal leather material. Read more
›Outdoor Retailer Opens Registration For Virtual Winter Tradeshow
Registration is open for OR Winter Online, its digital marketplace and online experience. Opening January 6, 2021, the virtual event will include key Summit Days from January 20-23 through March 19, 2021. Read more
›USA Pickleball Appoints CEO
USA Pickleball, the national governing body of pickleball, announced that Stu Upson has become CEO. Read more
›Kohl’s Q3 Comps Drop 13.3 Percent
Kohl’s reported third-quarter earnings that were significantly better than Wall Street’s targets although same-store sales were down 13.3 percent. Read more
— November 16, 2020 —
›Sperry Names Chief Marketing Officer
Sperry, a division of Wolverine Worldwide, appointed Elizabeth Drori as its new chief marketing officer. Most recently, she was head of marketing for Walmart’s fashion business. Read more
›Sequential Brands Posts Q3 Profit Against Loss
Sequential Brands Group reported a profit against a year-ago loss in the third quarter as sales declined slightly. Read more
›SFIA Appoints Chief Business Officer
The Sports & Fitness Industry Association announced the appointment of Bill Patterson as SFIA’s chief business officer, effective immediately. He formerly worked for OpSec Security. Read more
›Dynamic Brands Announces New Hires In Richmond And Pageland
Dynamic Brands announced new hires at its corporate headquarters in Richmond, VA and at their Pageland, SC production facility. Read more
›Strava Announces $110 Million Financing
Strava announced that it has raised $110 million in a Series F financing round led by TCV and Sequoia Capital, with participation by Dragoneer Investment Group and existing investors including Madrone Capital Partners, Jackson Square Ventures, and Go4it Capital. Read more
›Therabody Acquires RP Sports
Therabody, formerly known as Theragun, said it has acquired RP Sports and its clinical technology product line, RecoveryPump. Read more
›Puma To Sponsor United Soccer League
The United Soccer League, based in Tampa, FL, announced a new three-year agreement that makes Puma the national partner for the new USL Academy League. Read more
›Simon Property, Taubman Agrees To Price Reduction In Reverse Merger
Simon Property Group Inc. and Taubman Centers Inc. announced that they have reached a definitive agreement modifying certain terms of the original merger agreement, including a modified purchase price of $43.00 per share in cash and other provisions to reduce closing conditionality. Read more
›Camping World Agrees To Acquire Outlet Recreation
Camping World Holdings Inc. announced an agreement to acquire the Outlet Recreation dealership based in the Fargo market. This acquisition marks the company’s first location in North Dakota, with plans for the deal to close in December 2020. Read more
›Iconix’s Q3 Revenue Improves, Sales Slide
Iconix Brand Group Inc. reported total revenue for the third quarter of 2020 was $24.5 million, a 31 percent decline, compared to $35.5 million in the third quarter of 2019. Read more
›Shred Home + Fitness Raises $4 Million
Shred, the home + fitness app creator, announced $4 million in seed funding and will use the revenue to grow its digital fitness platform, bring new products and features to market, and launch a streaming video service for customers to work out with friends. The service rolls out end-year. Read more
›Stein Mart Receives Bid For IP Assets
Hilco Streambank is marketing the intellectual property assets of Stein Mart after the retailer signed a $4 million deal with a subsidiary of Retail Ecommerce Ventures (REV) to be the stalking horse bidder for Stein Mart’s IP. Read more
›Lululemon To Start Selling Mirror In Stores
Lululemon will begin selling its recently acquired Mirror home gym in 18 stores across the U.S. from this month. The cities include New York, Washington, D.C., Miami, Chicago, Minneapolis, Dallas, Los Angeles, and San Francisco. Read more
›Consumer Confidence Slips In October
Consumer confidence waned in October, reflecting somewhat less optimism about the jobs market and the U.S. economy in the next six months amid another outbreak of coronavirus cases. Read more
›Crosson Ski Appoints Chief Innovation Officer
Crosson Ski said Bode Miller, the five-time Olympic medalist, has teamed with aerospace engineer, Chase Englehart, to serve as its chief innovation officer. The pair will debut Crosson’s expanded line of skis later this month, including a series built with carbon fiber and centered around traditional ski manufacturing. Read more
›Adidas Appoints Global Head Of Marketing
Adidas has appointed Vicky Free as senior vice president of global marketing at Adidas effective January 4, 2021. Read more
Photo courtesy Lululemon
