Vans, owned by VF Corp, plan to grow revenue by $2 billion to reach $5 billion by fiscal year 2023, representing growth between 10 and 12 percent over the five-year period. VF officials will detail Vans’ growth plans at an investor meeting being held Wednesday at Vans’ Costa Mesa headquarters.
Author: SGB Media
Sports Direct’s Chairman Keith Hellawell To Step Down
Sports Direct said Keith Hellawell plans to step down as chairman and as a director of the company, having served since November 2009. Senior Independent Non-Executive Director Simon Bentley has retired as a director.
Report: Adidas To Re-Up Naomi Osaka In Mega-Deal
Adidas is planning to sign a record-breaking endorsement deal with U.S. open champion Naomi Osaka, according to The Times.
JD Sports Sees Small Assist From Finish Line In Half, Tests Planned
JD Sports said its acquisition of The Finish Line in June resulted in a small contribution to both earnings and sales in the first half ended August 4. The U.K. sneaker retail giant said it planned to “test JD’s highly differentiated multichannel retail proposition in the United States with a small trial” while leveraging “JD’s recognised global market-leading standards” at Finish Line’s existing locations.
Nike And Foot Locker Upgraded On Nike’s Innovation Pipeline
Nike was upgraded to “Buy” from Canaccord Genuity while Foot Locker was upgraded to “Outperform” by Wells Fargo. Both upgrades were tied to successful recent launches and bright prospects for future ones from Nike. Canaccord Genuity analyst Camilo Lyon also called Nike’s controversial Colin Kaepernick “Just Do It” anniversary campaign a “stroke of genius.”
Peak Resorts Misses On Q1 Revenue & Income
Peak Resorts Inc., which operates a number of U.S. ski resorts, on Tuesday reported a loss for the first quarter ended July 31 of $11.8 million, or (87) cents per share, missing analysts’ estimates by 4 cents. The company’s revenue of $7 million fell short of Wall Street expectations by $0.6 million.
NRF Announces New Programming And Networking Opportunities At Shop.org
The National Retail Federation announced a series of new programs, guest events and networking opportunities at this week’s annual Shop.org conference, which will be held Tuesday through Friday in Las Vegas.
Rossignol Group Announces New SVP, Global Bike Division
The Rossignol Group, home of the iconic bicycle brands Felt, Rossignol and Time, announces the departure of co-founder and president of Felt, Bill Duerhing Coinciding with this departure, the Rossignol Group has announced the appointment of Scott Rittschof as senior vice president, Global Bike Division.
West Coast Fitness Secures Investment
Castanea Partners, a private equity firm, made an investment in West Coast Fitness LLC, a leading franchisee and area representative of Orangetheory Fitness that operates ten Orangetheory studios and oversees an additional seventeen studios owned by other franchisees in Los Angeles and San Francisco’s South Bay area.
REI Co-op’s First Alabama Store Will Open In Huntsville In Fall 2019
REI Co-op is opening the company’s first location in the state of Alabama, bringing a wide assortment of quality gear and expertise for the region’s most popular outdoor activities to Huntsville in fall 2019.
Outdoor Retailer Releases Winter Market Floorplan
The floorplan for Outdoor Retailer Winter Market is now live. The event will be held at the Colorado Convention Center in Denver November 8-11. Click through to access the link.
Alterra Names Frank DeBerry President & COO Of Crystal Mountain
With the recent announcement of Alterra Mountain Co.’s intent to purchase Crystal Mountain Resort in Washington, Frank DeBerry, currently of Snowshoe Mountain, will be named president and COO of the destination upon the closing of the transaction.
Skechers Claims Shareholder Lawsuit And Allegations Without Merit
Skechers USA Inc. in a statement denied the allegations in the recent alleged shareholder class actions filed by Laborers Local 235 Benefit Fund as frivolous and without merit, and plans on defending them vigorously.
Digital Release of World Champion Surfer Andy Irons’ Tale of Opioid Addiction and Bipolar Disorder
Teton Gravity Research (TGR), the global leader in action and adventure lifestyle media, is proud to announce the highly anticipated digital release of Andy Irons: Kissed By God.
SIA Hires Meteorite PR As Public Relations Agency Of Record
Effective Tuesday, Meteorite PR has partnered with Snowsports Industries America (SIA) to be their public relations agency of record, overseeing all PR efforts for the industry trade association.
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