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.
Author: SGB Executive
EXEC: JD Sports Completes Acquisition of Largest Sneaker Retailer in France
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
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
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
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
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
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
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
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
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
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
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
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
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.
EXEC: Amer Sports Sees Sharp Contrast Between West and East in Q3; Provides China Update
Amer Sports, which is majority owned by its China retail partner, highlighted on its conference call with analysts that while other consumer companies faced challenges in Greater China in Q3, Amer generated 56 percent growth in the region, continuing to “well outperform the market.”
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