Pocket Outdoor Media (POM), the endurance sports media platform, announced the acquisition of the Healthy Living, Fitness, and Outdoor divisions of Active Interest Media (AIM). Included in the AIM acquisition are: Yoga Journal, SKI, Climbing, Backpacker, Warren Miller Entertainment, Oxygen, IDEA Health and Fitness Association, Clean Eating, Vegetarian Times, Better Nutrition, NatuRx, Muscle & Performance, Nastar, Fly Fishing Film Tour, National Park Trips, and SNEWS.
Category: Footwear
Adidas HR Chief Resigns Following Claims Of Discrimination
Karen Parkin, executive board member of Adidas AG, responsible for global human resources, has informed Adidas AG’s Supervisory Board that she will step down from the Executive Board and leave the company. The move comes as Adidas has faced criticism from employees who say it fosters a racist and discriminatory workplace.
NPD Report: Running Regains Its Stride
Dollar sales in the U.S. performance running rebounded in mid-May and in the week ending June 20 grew by 30 percent year over year, according to The NPD Group. Brooks, Hoka and On Running have all shown double- and triple-digit growth for the past five weekly time periods.
Survey: A Third Of Supply Chain Leaders Exiting China By 2023
A Gartner Inc. survey of 260 global supply chain leaders in February and March 2020 found that 33 percent had moved sourcing and manufacturing activities out of China or plan to do so in the next two to three years. Survey results show that the COVID-19 pandemic is only one of several disruptions that have put global supply chains under pressure.
Earth Shoes Appoints Two Key Product Executives
Earth Shoes has appointed Jocelyn Thornton to the newly created role of executive vice president of product and merchandising, and Fred Allard as creative director of product.
MEC Delays Annual Meeting Amid Coronavirus Challenges
MEC (Mountain Equipment Co-op), Canada’s largest outdoor chain with 22 stores, has postponed its annual general meeting until December 10 is it works to manage challenges related to the coronavirus pandemic.
VF Plans Re-Org To Support Greater China, Emerging Brands Growth
VF plans to hire its first president, Greater China. Kevin Bailey, executive vice president & Group President, APAC, will continue leading the Asia Pacific Region but will relocate to Denver, CO where he will also assume leadership of the company’s Emerging Brands platform including Altra, Eagle Creek, JanSport, and Smartwool brands as well as Kipling and Icebreaker brands in the Americas Region.
Nike To Undergo Layoffs In Digital Push
Nike in a letter to employees warned of layoffs as the company shifts resources to invest in high-potential growth opportunities, including digital.
USA Triathlon Foundation Awards $110,000 In COVID-19 Relief Fund Grants
The USA Triathlon Foundation announced the grant recipients for the COVID-19 Relief Fund, established in April, to support members of the multisport community who have been impacted by the virus. More than $110,000 will be dispersed to 40 organizations and individuals.
Deckers Brands Appoints Independent Director
Deckers Brands announced the appointment of Victor Luis to its Board of Directors. Coinciding with this appointment, Deckers also announced that James Quinn has resigned from its Board.
Golf Rounds Played Bounce Back In May
Golf rounds in May recovered to show a year-over-year gain of 6.2 percent as golf courses reopened across the country according to Golf Datatech. For the year-to-date period, rounds played are down 8.0 percent.
Boardriders Debt Ratings Downgraded
Moody’s Investors Service changed Boardriders Inc.’s outlook to negative from stable. The outlook change reflects the significant deterioration in earnings and cash flow resulting from the disruptions caused by COVID-19.
GOB Sale Resumes At 107 Modell’s Locations
Modell’s Sporting Goods has resumed going-out-of-business sales at 107 of its remaining stores, beginning immediately.
Nike Reports $790 Million Quarterly Loss
Nike Inc. reported a loss of $790 million, or 51 cents a share, in the fourth quarter ended May 31, driven by lower revenue and gross margin as a result of the COVID-19 impact on operations, partially offset by lower selling and administrative expenses. Sales decreased 38 percent to $6.3 billion.
Macy’s Announces Restructuring To Address Sales Impact From The Pandemic
Macy’s Inc. announced it will reduce corporate and management headcount by approximately 3,900 as part of a restructuring to align its cost base with anticipated near-term sales as the business recovers from the impact of the COVID-19 pandemic.
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