Intersport France Set To Acquire Go Sport Out Of Receivership
The Grenoble Commercial Court in France has ruled that Intersport France will acquire French retailer Go Sport in partnership with Qatari firm Al-Mana. The Court’s unanimous opinion supported an Intersport/Al-Mana bid valued at €35 million.
Investors Sue Adidas Over Yeezy Partnership With Ye
Adidas is facing a class-action lawsuit filed by investors who claim the company knew about the risks of its partnership with Ye, formerly known as Kanye West, years before it terminated its relationship with the rapper over his antisemitic comments.
Nike Signs Lifetime Contract With Kevin Durant
It was reported that Phoenix Suns star forward Kevin Durant signed a lifetime contract with Nike, the third basketball player to sign the same deal behind Michael Jordan and LeBron James.
Newell Brands Outdoor & Recreation Core Sales Fall 27 Percent In Q1; Swings To Loss
The Newell Brands Outdoor & Recreation segment, home to Marmot, Ex Officio, Stearns, Bubba, Coleman, and Contigo, generated net sales of $270 million in Q1 compared with $388 million in the prior-year period. Normalized operating income was $13 million, or 4.8 percent of sales, compared with $50 million, or 12.9 percent of sales, in the prior-year period.
Dickies Makes Three Key Product Leadership Appointments
Dickies has made two new appointments and one internal promotion to their product leadership team. The appointments come on the heels of the early April announcement that saw Todd Dalhausser, previously president of VF Corp’s Altra footwear brand, named as the new president of Dickies.
Columbia Sportswear Narrows 2023 Profit Outlook As Q1 Profits Contract Over 30 Percent
Columbia Sportswear Company reported that net sales increased 8 percent (10 percent constant-currency) to $820.6 million in the 2023 first quarter as net income decreased 31 percent. Inventories increased 34 percent at quarter-end on elevated carryover inventory, earlier receipt of current season inventory.
The Rossignol Group Posts 28 Percent Growth For 2022/23 Financial Year
The Rossignol Group, parent of the Rossignol, Dynastar, Lange, Look, and Kerma brands, reported that revenue increased 28 percent to €401 million for the 12-month financial year period ended March 31, 2023, compared to €313 million in revenue for the prior year.
REI To Open Store On Tribal Land In Arizona
REI Co-op will open a store in Prescott, AZ in Fall 2023, leased from the Yavapai-Prescott Indian Tribe and located on tribal land at Frontier Village Center.
Skechers Acquires Its Scandinavian Distributor
Skechers has signed an agreement to acquire its existing Scandinavian distributor, Sports Connection Holding ApS.
Authentic Inks UK And Europe Deals To Manage Ted Baker Brand Business
Authentic Brands Group (Authentic) reportedly signed a long-term strategic partnership with two new operating partners for Ted Baker in the UK and Europe—PDS Group (PDS) and AARC.
Academy Names New CEO And New President As Hicks Moves To Executive Chairman Role
Academy Sports and Outdoors, Inc. announced that, as a result of a planned succession process, the following changes to its executive leadership team will be effective on June 1, 2023.
Fanatics Hires New Investor Relations Head From Facebook Parent
Fanatics hired Deborah Crawford as SVP, head of investor relations, reporting to Fanatics CFO Glenn H. Schiffman.
Fabletics Expands Resale Program
Fabletics and its sister brand Yitty, expanded its resale program with ThredUp giving consumers a vehicle to resell gently worn clothing for a Fabletics shopping credit.
Tractor Supply Sees Q1 Profit Decline As Comps Fall Short Of Plan On Weather Issues
Tractor Supply Company reported that net sales for the first quarter increased 9.1 percent to $3.30 billion from $3.02 billion in the first quarter of 2022. Comparable store sales increased 2.1 percent, as compared to an increase of 5.2 percent in Q1 last year first.
U.S. Consumer Confidence Dips To Lowest Level Since July
According to the Conference Board, U.S. consumer confidence dropped in April to the lowest since July on more pessimistic views about the economic outlook, even as current conditions improved.
