Adidas Close To Signing Record Deal With Real Madrid
Adidas is set to sign a record-breaking deal to renew with Real Madrid. The ten-year deal is valued at €1.1 billion (U.S. $1.25 bn), according to Marca.
Fanatics Terminates Nascar Deal
Fanatics has terminated its ten-year trackside sponsorship deal with Nascar six years early as a result of low race attendances, according to a report from Sports Business Daily.
Retail Reports Roundup
Retail studies arrived on increasing rates of discretionary spending online, online personalization disappointing consumers, disconnects around consumers pricing perceptions, unplanned absence creating selling floor shortages, and rewards members desire for cash.
Clarus Raises EBITDA Margin Outlook On Record Sales In Q3
Clarus Corp. on Monday raised its EBITDA margin outlook to 9.5 percent from 8.5 percent after the company reported sales for the third quarter ended September 30 jumped 22 percent to a record $55.7 million, which also beat Wall Street targets by $2.5 million.
Adobe Forecasts $124 Billion In U.S. Online Sales This Holiday Season
Adobe predicts that U.S. online sales will increase 14.8 percent, totaling $124.1 billion, while offline retail spending is expected to increase a modest 2.7 percent.
Asics Sees 8 Percent Q3 Sales Drop In The Americas
Asics Corp. reported an operating loss in its American region of ¥398 million ($3.5 mm) in the third quarter as sales declined 8.1 percent. Companywide, Asics slashed its earnings guidance for the year as it also saw a steep decline in profits in the Europe and a modest decline in Japan.
361 Degrees Launches Retail Racing League
Kicking off mid-2019, the league will be comprised of teams from run specialty retailers who will compete at local races over an eight-month period to win the opportunity to run the final race in early 2020 and take home the coveted $50,000+ prize purse.
Asics Slashes Guidance On Weak Nine-Months Results
Asics significantly lowered its outlook for the year after reporting a steep decline in profits in the nine months on a 4.7 percent revenue decline. The Americas region showed a loss in the nine months on a 17.8 percent sales drop.
Amazon Drops Minimum Purchase Requirement For Free Holiday Shipping
Amazon said that beginning November 5, and for a limited time, all Amazon customers can enjoy free shipping with no minimum purchase amount on orders that will arrive in time for the Christmas holiday.
Newell Brands’ Turnaround Plans Gaining Traction
Shares of Newell Brands Inc. rose 14.5 percent Friday after the consumer-goods conglomerate reported adjusted earnings in the third quarter exceeded expectations as its turnaround efforts made some progress. The full-year EPS outlook was lifted for the year. Coleman’s sales were impacted by lost distribution at a key U.S. retailer.
Acushnet Lifts Outlook On Promising Q3
Acushnet Holdings Corp. slightly lifted its full-year guidance for earnings and sales after reporting robust growth in Titleist golf clubs and solid growth in Titleist balls that led to better-than-expected third-quarter results.
Aisle Talk Week of October 29
Top headlines from the active lifestyle industry you may have missed this week, including the outlook for U.S. apparel and footwear manufacturers being changed to positive from stable, according to Moody’s Investors. The agency cited the progress of companies like VF Corp. (pictured) in the report.
Moody’s Lifts Outlook For US Apparel And Footwear Industry
The outlook for US apparel and footwear manufacturers has been changed to positive from stable, Moody’s Investors said in a new report. After two challenging years, earnings growth is accelerating beyond the rating agency’s previous expectations and is expected to remain robust over the next 12 to 18 months. The agency cited the progress of Nike, Inc., PVH Corp. and VF Corp.
Cherokee Appoints Evan Hengel To Board
Cherokee Global Brands appointed Evan Hengel to the company’s board of directors. Hengel will serve as a director of the company effective immediately.
Surfrider Foundation Launches ‘United States And Oceans of America’
The Surfrider Foundation, a nonprofit organization dedicated to the protection of clean water and healthy beaches, launched its nationwide United States and Oceans of America (USOA) campaign to rally Americans to join the bipartisan fight to protect our oceans and coasts for the future.
