Nike furnished changes to its financial disclosures in connection with its new reportable operating segments as part of its Consumer Direct Offense. The company also indicated that it will stop reporting Future Orders beginning in its first quarter.
Category: Apparel
Nike Sides With NFL Players In Protest Dispute
Nike came out in support of the players’ right to protest in the public showdown between President Trump and players who refuse to stand during “The Star-Spangled Banner.” Nike became the first NFL sponsor to take a side in the controversy.
Bass Pro And Cabela’s Celebrate Merger Closing
With a video declaring the two companies were “Moving Forward Together,” Bass Pro on Monday celebrated the closing of its $4 billion merger with Cabela’s.
Under Armour Upgraded, VF Corp Downgraded
KeyBanc Capital Markets on Monday raised its rating on Under Armour due in part to its recent hiring of Patrik Frisk as COO. At the same time, the investment firm lowered its rating on VF Corp. due in its valuation and online weakness at its jeanswear coalition and Timberland.
Bass Pro Completes Cabela’s Merger
According to a statement, the combined company is “poised to provide customers with unmatched offerings spanning premier destination retail, outdoor equipment manufacturing, world-class resort destinations and more with a strong commitment to advancing conservation initiatives.”
Sweaty Betty Partners With Movemeant Foundation
Movemeant Foundation, a nationally recognized non-profit organization, and Sweaty Betty, London’s leading activewear brand, are bringing the country’s largest body-positive fundraising events, ‘Dare To Bare’, to New York City on October 1.
Mission Secures Naming Rights To UConn Heat Lab
UConn’s Korey Stringer Institute and Mission have teamed up to open one of the nation’s premiere academic heat research labs at the University of Connecticut’s main campus in Storrs, CT.
AlixPartners Sees Healthy Holiday Gains
AlixPartners released its forecast for US retail sales for the upcoming holiday season. The forecast anticipates an increase in sales revenue for retailers for the November-through-January period of 3.5 percent to 4.4 percent, compared with 2016 holiday-season sales.
Adidas Extends Partnership With Kansas
Adidas and the University of Kansas announced the extension of their partnership through 2031.
HanesBrands Appoints Chief Financial Officer
HanesBrands appointed Barry A. Hytinen as chief financial officer effective Oct. 16, 2017.
Dick’s Sets Grand Openings For Four New Stores
Stores will open in Lincoln, NE, Camp Hill, PA and Fayetteville, NC.
Acushnet’s Wally Uihlein To Retire
Wally Uihlein, president and chief executive officer of Acushnet Holdings, the parent of Titleist, plans to retire, effective January 1, 2018. David Maher, Acushnet’s current chief operating officer, will succeed him.
Finish Line “Somewhat Optimistic” On Back-Half Sneaker Rebound
On a conference call with analysts, Sam Sato, Finish Line’s CEO, cautioned the company expects “sales and margin trends to remain difficult throughout the remainder of the year,” maintained its forecast for the year, and noted that the industry overall was still learning to adapt to changing buying behaviors around sneakers.
Aisle Talk, Week Of September 18
Top headlines from the active lifestyle industry you may have missed this week.
Finish Line’s Earnings Tumble In Q2
The Finish Line reported earnings tumbled 87.1 percent in its second quarter ended August 26 to $2.8 million, or 8 cents a share, as sales declined 3.3 percent. Results were in line with an update provided on August 28.
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