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.
Author: SGB Executive
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.”
EXEC: Scottish Retail Industry Urges Consumers to be Considerate this Christmas Season
Scotland’s retail trade association and its trade union for retailers have joined together this holiday season to encourage more “considerate” Christmas shopping in 2024.
EXEC: Rip Curl and Oboz Parent Reports Strong DTC Sales in Fiscal Q1; Looking Cautiously to Holiday
The company said that, since its last trading update near the end of September, direct-to-consumer (DTC) sales results have improved for both Rip Curl and Kathmandu for the fiscal first quarter ended October 31.
EXEC: Safilo Saw Smith’s Q3 Performance Hurt by Still Cautious U.S. Market Environment
The quarterly performance showed lingering soft trends in North America and Asia, while trends proved more resilient in Europe, despite the slowdown of the sunglasses business. Smith’s performance remained affected by a still cautious market environment.
EXEC: Fila USA Continues Downward Spiral as Q3 Revenues Fall 57 Percent Over Two Years
The company said the decline in Q3 was mainly due to the competitive market environment in the sports fashion category caused by “excessive discounting.” The company is now focusing on margin improvement and brand-centric strategies to enhance brand equity.
Rig Footwear Expands Sales Channels in East Asia Region
Japan-based Rig Footwear has entered into a new partnership agreement with Hong Kong-based Step Hill International Co. Ltd. to strengthen market development and distribution in East Asia (Taiwan, Singapore, and Malaysia).
New StockX Report Sees Performance Footwear Now Dominating Demand
The company released its latest trend report, Big Facts: 2024 Trends, highlighting the brands and products that have made a mark on the 20224 sneaker resale market.
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