As part of the company’s broad restructuring program, which it first announced in December, Nike will cut about 2 percent of its workforce to lower expenses as demand for the brand comes under pressure.
Category: Sports/Fitness
EXEC: Sebago, Superga, Briko Parent Sees Sharp Global Declines Cut Into Royalties
BasicNet S.p.A., the parent of the Sebago, Superga, Briko, Kappa, K-Way, Jesus Jeans, and Sabelt brands, reported aggregate sales of Group brands products declined 10.4 percent to €1.14 billion. The Americas region fell 35 percent.
New Era Cap Introduces 2024 Collections for MLB Season
Each team will tell its franchise story by the design of its batting practice cap.
January U.S. Census Bureau Retail Data Shows Consumers ‘Still Engaged’
January prices for goods reportedly came down, which affects sales figures even if the same number of items are sold, and increased prices for services pulled dollars away from retail purchases.
Authentic Inks Reebok UK/Ireland Apparel License with Source Sport
This partnership will deliver an expanded range of Reebok apparel that aligns with consumers’ active lifestyles in the UK and Ireland.
Crunch Franchise Opens Newest Location in Eugene, OR
Crunch Eugene, a 45,000-square-foot fitness facility in Springfield, OR will open in the Shoppes of Gateway Mall.
EXEC: Footwear Brands Are Ramping Up Factory Orders
Yue Yuen Industrial reported that its footwear manufacturing segment revenue posted 12.5 percent growth in January 2024, a big turnaround from the 18.4 percent decline in its footwear manufacturing segment for full year 2023.
Xponential Fitness Completes Divestiture of Stride Fitness
The divestiture of its brand Stride Fitness to Stride Fitness Franchising, Inc., owned by Shaun Grove, the president of Xponential’s Rumble Boxing brand, is not expected to materially impact XPOF revenue in 2024.
USA Pickleball Certifies Owl Paddles For Tournament Play
The partnership, coupled with USAP approval and certification, positions Owl to make an even bigger impact on the growing paddlesport category.
Crocs Inc. Sees Q4 Growth Slow as N.A. Wholesale Declines
Fourth quarter revenues were $960 million, an increase of just 1.6 percent, or 1.5 percent on a constant-currency (CC) basis, from the corresponding period in 2022. North America Wholesale declined 5.1 percent in Q4.
Skechers U.S.A. Completes a Retail 5K on Way to Store Number 10,000
Expanding its international store count, key store openings for Skechers leading up to the milestone are in Chile, Greece, India, Mexico, South Korea, the United States, and the 5,000th store in Bogotá, Colombia.
Yeti Drinkware Surpasses $1 Billion in 2023; Cooler Recall Nets Margin Gain for Year
The net impact of recall reserves associated with the stop sale of certain soft coolers included in the recalls initiated in Q1 2023 had a 480 basis point impact on the increase in gross margin compared to the prior-year quarter.
EXEC: Sportchek, Mark’s and Helly Hansen all Down in Q4; Only Helly Up for Year
Canadian Tire’s SportChek segment, which includes the SportChek, Sports Experts, Atmosphere, Pro Hockey Life, Sports Rousseau, and Hockey Experts retail brands, saw comparable sales in the fourth quarter decline 6.4 percent.
Tennis Industry Association Rebrands as Racquet Industry Research Group
TIA rebranded to the Racquet Industry Research Group, noting, “It’s more than just a name change; this evolution signifies a broader mission to provide research and data to the entire racquet sports community.”
Hanesbrands, Inc. Cutting 159 Jobs, Closing NC Distribution Center
HBI plans to permanently lay off another 159 workers in April when it repurposes a DC in Winston-Salem, NC, according to a WARN notice sent to the state of North Carolina on February 5, with an effective date of April 5, 2024.
SGB Today
Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners
Post your Product or Marketing News in the SGB PR Portal