Puma SE delivered second-quarter results that topped analyst targets and said it might be able to raise its outlook for the year should the recent momentum in China, Europe and Latin America continue in the third quarter. However, Arne Freundt, Puma's CEO, was hesitant to forecast a return to growth in the U.S. market due to weak consumer spending. (Read More)
Shares of Life Time Group Holdings, Inc. were down about 15 percent in late-afternoon trading Tuesday after reporting adjusted EBITDA exceeded analyst targets, but revenues and membership growth came in below plan. Bahram Akradi, founder, chairman and CEO remains bullish on the high-end fitness center prospects, telling analysts that membership growth is in line with plan. (Read More)
A study from the Anderson Economic Group (estimated that a 10-day strike by 340,000 unionized workers at UPS could cost the U.S. economy $7.1 billion, making it the costliest work stoppage in U.S. history. (Read More)
Saucony, which is celebrating its 125th anniversary in 2023, in June named Rob Griffiths president. Here, Griffiths talked with SGB Executive about the brand's authenticity and commitment to innovation, opportunities away from the run business, and his message to the run specialty community. (Read More)
Brothers Mike and Rob Barnes started Selkirk Sport in Hayden, ID, in 2014, believing that pickleball, once an obscure sport played by seniors and in physical education classes, was about to take off. Rob Barnes, co-founder and co-CEO, talked with SGB Executive about Selkirk's and the sport of pickleball's potential growth and its challenges. (Read More)
Lululemon confirmed with SGB Media reports that it has laid off 100 employees from Lululemon Studio, which represents its Mirror connected fitness business. In mid-April, reports arrived that Lululemon was working with an advisor to explore the sale of Mirror. (Read More)
Hopes by several global players in the active lifestyle space that a strengthening recovery in China would offset weakness in North America this year were dimmed Monday after China's second-quarter GDP growth arrived below expectations. (Read More)
A study from Les Mills, "Gen Z Fitness: Cracking the Code," found that 36 percent of the Gen Z generation exercise regularly and 50 percent, identified as the "untapped market." want to work out regularly but said they need help getting started. (Read More)
Rally House agreed to become the official team store for Kansas State. The retailer has several stores in the state of Kansas. (Read More)
RG Barry, the parent of Dearfoams slippers and Baggallini handbags and backpacks, has seen sales double over the past five years with a 15 percent compound annual growth rate. Bob Mullaney, CEO, talked with SGB Executive about the company's recent progress, growth potential and key brand initiatives. (Read More)
Coresight Research's U.S. Back-To-School (BTS) 2023 study found the big BTS winner is expected to be Walmart with Amazon and Target losing ground. Dollar stores and off-pricers were also seen gaining BTS share with those channels, as well as Walmart, benefiting from the post-pandemic recovery in-store shopping. (Read More)
Tanya and Bert Pictor, the founders of Balega Socks, are partnering with Luke Rowe, the running industry veteran, to launch a new running sock brand, Jogology, that will be sold exclusively at run specialty stores. Tanya Pictor talked to SGB Executive about inspiration behind Jogology and how the brand plans to differentiate itself in the crowded sock market. (Read More)
On today's analyst call, Julien Mininberg, Helen Of Troy's CEO, said Osprey, acquired in December 2021, surpassed expectations for the second straight quarter, but Hydro Flask continued to be pressured by a shift in consumer preference from insulated bottles to tumblers. (Read More)
Deloitte's inaugural study, 2023 Sports Fan Insights: The Beginning Of The Immersive Sports Era, found that despite concerns over past pandemic-driven closures of live sporting events, today's sports fans remain strong, with younger fans craving spectator sports experiences. (Read More)
On Holding, Adidas, Deckers Outdoor, Amazon, Smith & Wesson and Skechers USA delivered share price gains of more than 30 percent in the first half of 2023 in an overall mixed performance for stocks in the active lifestyle space. Laggards included VF Corp., Hibbett, Under Armour and Foot Locker. (Read More)
On Nike’s fourth-quarter analyst call, John Donahoe, president and CEO, Nike, Inc. talked up progress and untapped opportunities for Nike Brand around global football (soccer), basketball and running categories, but Jordan Brand was by far the star performer for Nike’s fiscal year ended May 31. (Read More)
Nike missed on earnings for the first time in three years as compressed margins weighed on profits during its fiscal fourth quarter ended May 31. The sportswear giant also forecast first-quarter revenue below Wall Street targets as North America softness overshadowed China's recovery. On the positive side, Nike indicated demand remains healthy across regions and inventories have been rebalanced to position the company for profitable growth going forward. (Read More)
Signa Sports reported a steeper loss in its fiscal second quarter ended March 31 as sales fell 23.5 percent. The operator of niche sports e-commerce websites also warned of further sales declines and margin compression in coming quarters as it believes another 12-to-18 months is needed for elevated bike inventories to fully clear. (Read More)
A market report from Capstone Partners found that M&A activity has slowed in 2023 as sellers and buyers have approached transactions with increased caution amid economic headwinds. However, the company found that price multiples remained robust for making deals as the industry continues to benefit from elevated spending and participation rates since the pandemic. (Read More)
UBS raised its rating on Adidas to "Buy" from "Neutral" due to its expectations that renewed momentum in the brand's lifestyle offerings, particularly the Gazelle and Samba styles, support broader top-line growth. (Read More)