Hype Sports Innovation, based in London, announced plans for a $75-million capital fund with Uli Becker, ex-president of Reebok and Bernd Wahler, former president of VfB Stuttgart who also served as Adidas CMO.
Author: SGB Media
Authentic Brands Group Acquires Sports Illustrated
Authentic Brands Group (ABG) announced that it has finalized the purchase of the intellectual property of Sports Illustrated from Meredith Corporation.
Ross Stores’ Q1 Comps Gain 2 Percent
Ross Stores, Inc. reported earnings per share for the 13 weeks ended May 4, 2019 of $1.15, up from $1.11 for the same period last year.
BSN Sports Acquires Legacy Team Sales
BSN Sports, a division of Varsity Brands, announced that it has acquired Legacy Team Sales, based in Ocala, FL.
RECALL: Revelate Designs Bicycle Seat Bags
About 1,250 bicycle seat bags from Revelate Designs are being recalled.
Hibbett’s Digital Efforts Gaining Traction
For a company that admittedly was “late to the ballgame” with implementing all the digital capabilities a retailer should offer its customers in today’s competitive landscape, Hibbett Sports Inc. has certainly made up for lost time. And the company showcased some of its recent digital advances during a stellar first quarter that topped revenue and earnings expectations.
Deckers Delivers Blowout Q4
Deckers Brands Inc., wrapping up its first year seeing revenues surpass $2 billion, reported significant gains in fourth-quarter earnings, far ahead of forecasts. Improving margins, expense cuts, early shipments of spring Ugg product and continued explosive growth for Hoka drove the outsized gains.
Aisle Talk Week Of May 20
Top headlines from the active lifestyle industry you may have missed this week, including footwear brands and retailers joining together to write a collective letter to President Trump asking him to rethink his latest tariff increase and relax the escalating trade war with China.
Chaos Headwear Names Two New Rep Agencies
Chaos Headwear has added new members their U.S. national sales team—the Rose Agency for the Rockies and the Lake Effect Group for the upper Midwest.
Hibbett Sports Announces Appointment of New Independent Chairman
Hibbett Sports Inc. on Friday announced the appointment of Anthony F. Crudele as its independent chairman of the board of directors.
Safilo Agrees To Sell Solstice Retail Business
Safilo Group announced Friday that it has reached an agreement to sell the U.S. retail chain Solstice to Fairway LLC, a U.S. limited liability company formed by a group of investors active in the U.S. and in the European eyewear retail business. The transaction is expected to be completed within the third quarter of 2019. Financial terms of the deal weren’t disclosed.
Moody’s Affirms Tom’s Rating, Lowers Outlook
Moody’s Investors Service affirmed Toms Shoes, LLC’s Caa3 Corporate Family Rating (“CFR”) and Caa3 senior secured first lien term loan rating. Concurrently, Moody’s downgraded the company’s Probability of Default Rating (“PDR”) to Caa3-PD from Caa2-PD. The outlook was changed to stable from negative.
Foot Locker’s Q1 Falls Short Of Targets
Foot Locker Inc. reported earnings on an adjusted basis eased slightly in the first quarter as increased operating costs to fund strategic initiatives offset improving gross margins and a 4.6 percent comp gain. Earnings came in below Wall Street’s consensus target.
Nike Signs Likely No. 2 NBA Draft Pick
Nike signed Ja Morant, the former Murray State guard who’s expected to be taken second in the upcoming NBA Draft.
Hibbett Sports Q1 Profits Flies Past Estimates
Hibbett Sports Inc. sharply raised its outlook for the year after reporting first-quarter earnings that blew past Wall Street’s consensus target. Comparable store sales increased 5.1 percent.
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