Robin Hood CEO Joins Under Armour Board Of Directors
Under Armour Inc. announced that Wes Moore has been appointed to its Board of Directors effective October 1, 2020. Moore, 41, is CEO of the Robin Hood Foundation, a nonprofit that finances over 500 organizations serving children, families and communities.
Tilly’s Q2 Sales Dip 16 Percent, Sees Significant Q3 Decline
Profits at Tilly’s Inc. fell 43.0 percent in the second quarter as sales declined 16 percent. Second-quarter results exceeded internal expectations given that stores were closed for parts of the quarter, but Tilly’s warned that third-quarter sales have been “significantly impacted” by delayed back-to-school selling.
Duluth Trading’s Q2 Sales Expand 13 Percent
Duluth Holdings Inc., the parent of Duluth Trading, reported earnings more than doubled in the second quarter as sales grew 12.6 percent.
Dick’s SG Announces Grand Opening Of Three Stores In September
Dick’s Sporting Goods will expand its national footprint with the opening of one Dick’s Sporting Goods store, one combination Dick’s and Golf Galaxy location and one Golf Galaxy store in September. The stores are in San Antonio, TX; Myrtle Beach, SC and Westminster, CO.
Sportsman’s Warehouse’s Q2 Sales Catapult 79 Percent
Sportsman’s Warehouse Holdings Inc. reported earnings grew five-fold in the second quarter. Sales surged 79 percent primarily due to a surge in demand across all major categories, led by hunting and shooting.
OIA Partners With People For Bikes On Climate Action
Outdoor Industry Association (OIA) and PeopleForBikes (PFB) have announced a partnership through which PFB members — bicycle manufacturers and retailers — will be able to join the OIA Climate Action Corps, a collaborative model for alignment, action and accountability to achieve industry-wide greenhouse gas (GHG) emission reductions in accordance with Intergovernmental Panel on Climate Change (IPCC) guidelines.
Adidas Global Creative Director Exits Over Controversial Comments
Adidas global creative director Paul Gaudio has left the company, effective August 31, according to an internal memo from the company. The memo did not give a reason but it arrived two days after Gaudio left a controversial comment on a Complex Instagram post.
Macy’s Q2 Comps Drop 35 Percent
Macy’s, Inc. reported same-store sales in the second quarter were down 34.7 percent but were better than expected as in-store sales recovered faster-than-expected and online sales jumped 53 percent. The second-quarter loss that was was better than Wall Street’s estimates.
Fjallraven Sued Over Unpaid Rent At Boulder Store
Fjallraven has been sued by the landlord of its store in Boulder for not paying rent from April through August.
Bass Pro Shops and Cabela’s Recognized For Customer Service
Bass Pro Shops and Cabela’s has received national accolades for excellence in customer service, receiving “America’s Best-In-State Customer Service 2020” award from Newsweek.
361 Degrees’ Debt Ratings Downgraded
S&P Global Rating lowered its debt ratings 361 Degrees International Ltd. as it expects the Chinese sporting good company’s market position to weaken amid accelerated industry consolidation, with a dip in revenue in 2020 and 2021. Escalated competition in China’s sportswear industry is also expeced to dent the company’s profit margin.
L.L. Bean Seeing Outdoor Boost Amid Pandemic
L.L. Bean CEO Stephen Smith told CNBC’s “Squawk on the Street” that sales of bikes, kayaks and canoes have been robust in the spring and summer as outdoor activities have increased in appeal in the stay-at-home economy.
Ahead Signs Distribution Deal For Coolnes
Ahead, the golf headwear, apparel and accessories brand signed an exclusive golf distribution agreement with Coolnes, the ultraviolet-protective neck and face mask for golfers.
Gymshark Partners With Klarna On Installment Payments
Gymshark has partnered with Klarna to offer extended payments on purchases made on Gymshark.com. The partnership comes as the U.K.-based fitness apparel start-up in mid-August secured a $1.45 billion valuation in its first equity raise.
USTA Launches Initiatives Around US Open
The USTA announced plans to capitalize on opportunities throughout the US Open to drive awareness of a variety of key initiatives to promote and develop the growth of tennis throughout the country.
