Adidas Issues Profit Warning, Blames Ongoing China Weakness
Adidas announced preliminary results for the third quarter and reduced its full-year 2022 guidance. The company’s new outlook takes into account a further deterioration of traffic trends in Greater China as well as a significant inventory build-up as a result of lower consumer demand in major Western markets since the beginning of September, which is expected to lead to higher promotional activity during the remainder of 2022.
Al’s Sporting Goods Acquires Bob Ward’s & Sons
Al’s Sporting Goods, with three stores in Utah and Idaho, acquired all five Bob Ward & Sons, an outdoor retailer with five locations in Montana.
Foot Locker To Close Wisconsin Distribution Center
Foot Locker, Inc. notified the state and employees that it will close its distribution center in Wausau, WI, in 2023, affecting 210 jobs.
REI Co-Op To Open In Tallahassee
REI Co-op will open its Tallahassee, FL store on November 11. Located at 1415 Timberlane Road at Market Square, the store offers 22,000 square feet of space.
Cotopaxi Closes Store In San Francisco Due To Crime
Cotopaxi is closing its store in San Francisco because of repeated break-ins and rampant crime in the area, CEO Davis Smith said in a LinkedIn post.
New Testing Shows High Levels Of BPA In Sports Bras And Athletic Shirts
On Wednesday, the Center for Environmental Health (CEH) sent legal notices to eight brands of sports bras and six brands of athletic shirts after testing showed the clothing could expose individuals to up to 22 times the safe limit of the chemical bisphenol A (BPA), according to California law.
Li Ning Sees High-Single-Digit Q3 Comps
Li Ning Company Ltd. reported same-store sales for its overall platform excluding Li-Ning Young stores registered a high-single-digit increase in the third quarter on a year-on-year basis.
Outdoor Cap Names Head Of Commerce
Outdoor Cap Company has named Andi Pratt as head of commerce.
Study Shows Women’s Sport Sponsorships Expanded 20 Percent In 2022
Sponsorship deals across women’s sports increased 20 percent year-over-year (YoY) in 2022, according to a study by sponsorship data and advertising services firm SponsorUnited. Nike and Adidas were the top brand partners for both professional and collegiate sports.
Kelly’s Running Warehouse Rebranded Road Runner Sports Runner’s Outlet
After 19 years as an independent operation, Kelly Running Warehouse has officially been absorbed by its parent company, Road Runner Sports. The move aims to streamline operations by rebranding the discount outlet as Road Runner Sports Runner’s Outlet.
Sports Excellence Names Director, U.S. Retail Development
Sports Excellence, the Canadian buying group, announced that it hired Steve Rixe as director of U.S. retail development.
Fanatics Names CFO, Fanatics Betting & Gaming
Fanatics hired Andrea Ellis as CFO, Fanatics Betting & Gaming (FBG), the company’s online sports betting and iGaming division. In this position, Ellis oversees FBG’s finance functions, including accounting, budget, tax, and cost management.
Delta Apparel Sees Fiscal 2022 Sales Exceeding Expectations
Delta Apparel, Inc. forecasts net sales for the fiscal year ending October 1 to be approximately $484 million, representing an increase of 11 percent from the prior year. All five of its go-to-market channels, Delta Direct, Brand Direct, Retail Direct, DTG2Go, and Salt Life, are expected to register year-over-year growth.
New Balance To Establish Distribution Operations In Tennessee
New Balance Athletics plans to invest $68.5 million in a new distribution center in Lebanon, TN.
The Sustainable Apparel Coalition Makes Hires
The Sustainable Apparel Coalition hired Lee Green as senior director marketing and communications and Nadia York, as chief of staff.
