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Author: SGB Executive

EXEC: Nike to Wind Down Digital Sneaker Design and NFT Company RTFKT in January

December 3, 2024 SGB Executive

RTFKT has also announced its plan to wind down operations by January 2025 on X (fka Twitter), noting it would release one final collection, Blade Drop.

EXEC: G3 Genuine Guide Gear Acquired Out of Receivership

December 2, 2024 SGB Executive

In August 2024, Deloitte Restructuring, Inc. (DRI) was appointed by the Supreme Court of British Columbia as the Receiver, without security, of certain G3 assets. The Court approved an Asset Purchase Agreement with Canadawide Sports on November 8.

EXEC: JD Sports Completes Acquisition of Largest Sneaker Retailer in France

December 2, 2024 SGB Executive

The company has completed its acquisition of Groupe Courir S.A.S. following receipt of conditional clearance from the European Commission on October 22, 2024 and the satisfaction of all other outstanding conditions.

Reports: Black Friday Online Shopping Breaks Records as Brick & Mortar Traffic Wanes

December 2, 2024 SGB Executive

At first glance, it appears that Black Friday weekend did not materialize as hoped or expected this year as e-commerce came out the clear winner for Black Friday and brick & mortar sales suffered for the official start of the Christmas holiday shopping season.

Vista Completes Ammo Segment Sale; Revelyst Sale Set for January Close

November 27, 2024 SGB Executive

The sale of The Kinetic Group to Czechoslovak Group a.s. has been completed. The company’s Outdoor Products segment, also known as “Revelyst” will begin trading on NYSE on Wednesday, November 27 under the ticker “GEAR”. 

EXEC: Golden Goose Gets Double-Digit EBITDA Boost in YTD Period as DTC Stores Lead

November 27, 2024 SGB Executive

EMEA accounted for 49 percent of the Group’s net revenues in the YTD period, while the Americas contributed 38 percent in total revenues. The Americas region posted double-digit growth in the DTC channel due to new store openings and positive retail year-over-year comps.

EXEC: The Oberalp Group Opens New Pomoca Brand Headquarters in Switzerland

November 26, 2024 SGB Executive

The Oberalp Group, which owns Salewa, Dynafit, Pomoca, Wild Country, Evolv, and LaMunt, has opened a new Pomoca brand headquarters in Chavornay, Switzerland, after three years of construction and a $13.5 million investment in the ski skin brand.

EXEC: Sports Direct Parent Set to Acquire South Africa’s Holdsport Group

November 26, 2024 SGB Executive

Frasers Group, the parent of UK-based Sports Direct, has closed on an agreement to acquire South Africa-based Holdsport Group from Old Mutual Private Equity and Holdsport’s management.

EXEC: Amer Sports Inks Deal to Allow Salomon, Atomic Binding System

November 26, 2024 SGB Executive

Amer and Rottefella have reached an agreement regarding the Cross-Country Shift and Shift Race binding systems following a ruling from the Oslo District Court favoring Rottefella, which would have essentially banned the sale of Salomon’s and Atomic’s Shift and Shift Race binding systems.

EXEC: VF Corp. Shuttering East Coast DC, Moving Dickies to Vans HQ; 360 Jobs Impacted

November 25, 2024 SGB Executive

The two moves, seen as part of the company Reinvent plan, are expected to impact 242 employees at the Virginia distribution center and another 120 Dickies staff with the move to California.

EXEC: Colt CZ Sees U.S. Recovery in Handguns; Long Guns Outpace Total Growth

November 21, 2024 SGB Executive

U.S. region revenues increased 38.5 percent year-over-year for the YTD 2024 period through September 30, due to the stabilization of the U.S. commercial market and the consolidation of revenues of the new acquisition Sellier & Bellot in May 2024.

EXEC: JD Sports Expects Full Year Profit at Lower End of Forecast on Weaker Comps

November 21, 2024 SGB Executive

After a good start to the period, helped by strong back-to-school sales, the parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail banners said it saw increased trading volatility in October, particularly in North America and the UK, reflecting elevated promotional activity and mild weather.

EXEC: Wilson Sports Business Returns to Double-Digit Growth in Q3; Bolsters Owned Retail

November 20, 2024 SGB Executive

Wilson’s marquee racquet sports franchise and the small but fast-growing softgoods segment were reported to lead the return to double-digit growth. Inflatable balls and golf also reportedly returned to growth in the third quarter.

EXEC: Salomon Gets New CEO as Growth Moderates in Q3 on Weaker Equipment Business

November 20, 2024 SGB Executive

By region, strong growth in Greater China and APAC was said to be partially offset by slower sales in EMEA and North America. The company expects to end 2024 with approximately 200 Salomon stores in China, with the opportunity to grow to several hundred locations over time in just Tier 1 and 2 cities.

EXEC: Arc’teryx Outperforms Once Again in Q3 Despite Tough 2023 Comps

November 19, 2024 SGB Executive

Direct-to-consumer remains the brand’s core growth engine, but Arc’teryx also reported strength in the Wholesale channel, which grew 26 percent. U.S. Wholesale was reportedly a standout for the quarter, especially for Arc’teryx.

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