Shimano’s YTD Sales Tumble 20 Percent on Cycling Weakness
Shimano, Inc.’s sales tumbled 19.8 percent in the nine months as sales in its Bicycle Components segment dropped 24.8 percent with the decline tied to high inventories in the IBD channel. The Japanese-based company nonetheless slightly raised its outlook for the year as orders in the back half weren’t as soft as expected.
Report: September Golf Rounds Show Uptick
Golf Datatech reported that U.S. golf rounds played were up 1.6 percent year-over-year in September and increased 3.8 percent year-to-date, according to the research firm’s latest National Rounds Played Report for September 2023.
Puma’s Q3 Profits Drop On Currency Effects; Confirms Annual Guidance
Puma’s earnings fell 9.6 percent due to currency headwinds, weakness in North America and higher expenses. However, higher-than-expected revenues due to momentum in Europe, a recovery in China as well as stronger-than-expected margins led the German-based company to reiterate its guidance for the year.
REI To Open Eighth Store In Florida
REI Co-op announced plans to open another new store in Florida on November 10 in Sarasota at University Town Center. The 25,000-square-foot space is the co-op’s eighth store in the state.
Authentic Inks Partnership for Aéropostale Kids Brand
Kidz Concepts will design, manufacture and distribute Aéropostale kids sportswear, activewear, swimwear, and performance outerwear for boys and girls in the U.S.
VF Corp. Appoints Former Nike President to Board
VF Corp. appointed former Nike executive Trevor A. Edwards to the company’s Board of Directors, effective October 22. Edwards served as president of Nike, Inc. from 2013 until 2018.
Vail Resorts Reports Departure of Chief Marketing Officer
Ryan Bennett’s departure, which Vail said would be treated as an involuntary separation under the company’s executive severance policy, and the company expect to enter into a Severance Agreement and General Release with the now former CMO.
Nike Launches Connected Partnership Program with Hibbett Sports
Nike added Hibbett, Inc. as the latest partner for its Connected Partnership loyalty program, enabling its customers to access Nike member products and services.
Puma Names A$AP Rocky as Creative Director, Formula 1 Division
Puma hired A$AP Rocky as the creative director for the brand’s Formula 1 partnership. The rapper will design capsule collections for Puma x F1, the first of which will land at the Las Vegas Grand Prix on November 18.
Steve Madden Acquires Almost Famous
Steven Madden Ltd. has completed the acquisition of Almost Famous, a privately-held maker of women’s apparel for $52 million in cash.
Tennis Warehouse Acquires Swetka’s Tennis Shop
Tennis Warehouse, the tennis retailer based in Luis Obispo, CA, reported that it recently acquired Swetka’s Tennis Shop in Mountain View, CA, a fixture in the Bay Area tennis community for over 50 years.
Vista Outdoor Removed from S&P CreditWatch After Ammo Business Sale
S&P Global Ratings removed the debt ratings of Vista Outdoor, Inc. from CreditWatch with negative implications following the company’s announcement that it planned to sell its sporting products business to Czechoslovak Group A.S for $1.91 billion on a cash-free, debt-free basis.
Vail Resorts Reports Departure of Chief Marketing Officer
Ryan Bennett’s departure, which Vail said would be treated as an involuntary separation under the company’s executive severance policy, and the company expect to enter into a Severance Agreement and General Release with the now former CMO.
Fleet Feet Rings the Bell on Wooster, OH Store Grand Opening
Fleet Feet, the largest franchisor of specialty run stores, officially announced its Wooster, OH store, which opened in late July, will host a grand opening.
Steven Madden Closes on Acquisition of Almost Famous
Steven Madden, Ltd. has completed the acquisition of privately-held Almost Famous, a designer and marketer of women’s apparel.
