Signa Sports’ Largest Shareholder Terminates Equity Commitment Letter
Signa Sports United N.V., which in early October announced plans to delist its shares from the NYSE, said it had received a termination notice concerning the unconditional Equity Commitment Letter from Signa Holding GmbH, an affiliate of the company’s largest shareholder Signa International Sports Holding GmbH.
EXEC: Vista Outdoor Cuts Fiscal Year Outlook After Q2 Weakness
Along with the sale of its Sporting Products business to Czechoslovak Group. (CSG), Vista Outdoor announced that it was slashing its full-year guidance, largely due to weakness at its Outdoor Products segment.
SFIA Launches Super Regionals Series
The Sports & Fitness Industry Association is launching a Super Regional Series in November, offering members, partners and industry leaders the opportunity to come together to discuss business insights and topics driving today’s sporting goods and fitness environment.
New Era Appoints General Manager for North America
New Era Cap LLC has hired Steve Gallo, most recently president of the recovery footwear brand Oofos, as general manager for North America after an extensive global search.
Lululemon Athletica to Join S&P 500 Index
Lululemon Athletica will join the S&P 500 index before the stock market opens on October 18.
Asics Names New President and CEO for North America
Koichiro Kodama will return to Asics North America as president and CEO, effective immediately. He was CEO of Asics North America from February 2019 until December 2020. He replaces Richard Sullivan, president and CEO of the North American business since January 2022.
REI Lays Off Nearly 275 Retail Employees
REI Co-op is laying off about 275 retail employees, roughly 2 percent of its in-store workforce, as the retailer implements updates to its store operations system and labor structure.
Consumer Sentiment Slides in October
The University of Michigan’s preliminary Index of Consumer Sentiment for October declined 7.5 percent from month-over-month in September to 63 from 68.1 and below the 67.4 reading that analysts had expected.
Under Armour Hires Gap Inc. Vet as Chief Supply Chain Officer
The company hired retail industry veteran Shawn Curran as chief supply chain officer, reporting to President and CEO Stephanie Linnartz. After three decades working at Gap, Inc., Curran will join Under Armour on October 16.
Stitch Fix, Inc. Expands Layoffs, Now Affecting Nearly 1,000 U.S. Workers
After deciding to shutter its UK operations this past summer, and continuing the work to shut down its distribution center in Bethlehem PA, the company will soon begin the closure of its facility in Dallas, TX.
Decathlon to Open First Store in British Columbia
Decathlon plans to open a flagship store in spring 2024 at Metropolis at Metrotown, marking its first store in British Columbia and its 19th in Canada.
REI To Open Huntington Station Store
The 21,000-square-foot store in the Huntington Shopping Center in Huntington Station, NY will host a grand opening November 3-5. It is REI’s seventh store in the Tri-State area.
EXEC: Surveys Reveal Run Specialty’s Challenges with Gen Z
A recent member survey from the Running Industry Association (RIA) found that while the run specialty channel has made progress in attracting the Gen X demographic, with Millennials not far behind, a significant opportunity remained to attract more Zoomers.
KUIU To Open Dallas Store for Direct-to-Consumer Brand
The company said that based on the active consumer base in Dallas, it’s the ideal location for a brick-and-mortar store. KUIU said being DTC-focused provides the company with data and insights on its customers.
Lacrosse, Flag Football, Cricket on Short List for 2028 LA Games
The organizing committee for the Los Angeles Games reported it will propose adding flag football, lacrosse, squash, and cricket to the Olympic program for 2028. The organizing committee is also aiming to bring baseball and softball back.
