Adidas Obtains Investment-Grade Rating By S&P And Moody’s
Following a thorough assessment by rating agencies S&P and Moody’s over the past months, Adidas has received strong first-time investment-grade ratings by both rating agencies. The ratings make Adidas one of the highest-rated companies both in Germany and in the global sporting goods industry.
Callaway Hit By Q2 COVID-19 Restrictions; Takes Wolfskin Charge, Cancels Dividend
Callaway Golf company’s net sales decreased 34 percent to $297 million in the second quarter ended June 30, compared to $447 million for the comparable period in 2019.
Christy Sports Hires VP Of Digital
Christy Sports LLC has hired Harvey Bierman as their new VP of digital. In this newly created role, Bierman will lead the development and acceleration of e-commerce and digital marketing to enable the company’s growth strategy.
Dick’s SG Announces Grand Opening Of 11 Stores In Nine States
Dick’s Sporting Goods will expand its national footprint with the opening of four Dick’s Sporting Goods stores, one combination Dick’s and Golf Galaxy location, five Dick’s Sporting Goods Warehouse sale stores and one Overtime by Dick’s Sporting Goods location in August.
Unifi Posts Loss In Q4
Unifi Inc. reported sales fell 52.1 percent in its fiscal fourth quarter ended June 28 although monthly sales have improved sequentially throughout the period. The fiber manufacturer lost $20.2 million in the period.
Canadian Tire Posts Solid Retail Sales Growth In Second Quarter
Canadian Tire Corporation, parent company of SportChek, Helly Hansen and Sports Experts, among others, posted retail sales growth of 9.3 percent (excluding Petroleum) in the second quarter ended June 27.
The Buckle Sees Fiscal Q2 Sales Up 6 Percent As Online Sales Double
The Buckle, Inc. reported total net sales for the 4-week fiscal month ended August 1 increased 3.8 percent to $70.0 million from net sales of $67.5 million for the year-ago comp period.
TIA Report Finds Most Tennis Businesses Have Reopened
The Tennis Industry Association’s latest “2020 Tennis Industry COVID-19 Impact Studies” report for July finds approximately 85 percent of tennis retailers and facilities operators said they were open in the July survey, up from about 36 percent in the May survey.
Adidas Group Posts Q2 Loss On COVID-19 Impact; E-Commerce Nearly Doubles
Adidas Group second-quarter revenues decreased 34 percent in currency-neutral terms. Sales at brand Adidas declined 33 percent in the second quarter, and Reebok revenues were down 42 percent reflecting the brand’s higher exposure to the U.S. market.
The VF Foundation Announces $7.3 Million In Community Investments
The VF Foundation, the private grantmaking organization funded by VF Corp., announced the recipients of its gifting cycle totaling $7.3 million in investments to 80 organizations around the world.
Acushnet Holdings’ Q2 Revenues Slump 35 Percent
Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, reported second-quarter net income down 94.0 percent, adjusted EBITDA fell 56.3 percent and sales slid 35.1 percent.
Nike Eyes 500 Layoffs At Oregon HQ
Nike announced layoffs that will eliminate at least 500 jobs at the company’s world headquarters in Oregon, according to the state of Oregon’s Worker Adjustment and Retraining Notification website.
Adidas AG Extends CEO’s Appointment Through July 2026
The Supervisory Board of Adidas AG has extended the appointment of CEO Kasper Rorsted by another five years until July 31, 2026.
Amer Sports Q2 Revenues Sink 36 Percent
Amer Sports’ revenues fell 36 percent in the second quarter, driving a 22 percent decline in the first half of the year, according to debt reviews from Moody’s and S&P. Bot rating agencies affirmed Amer has adequate liquidity to operate through the year and each assigned a low investment-grade rating of B3 and B- on Amer’s new €100 million facility.
H1 Athletic Footwear And Apparel Sales Fall In Low-Teens, According To NPD
According to the NPD Group, both athletic footwear and activewear sales declined in the low-teens in the first six months of the year. In footwear, Brand Jordan, Brooks, Hoka One One, and On were among the few athletic brands showing gains. Nike performed better in apparel among the big-three brands.
