The company has identified approx. $70 million of additional charges, largely related to the decision to exit one of its primary distribution facilities located in Rialto, CA on top of the $70 million to $90 million already planned in connection with its Fiscal 2025 restructuring plan.
Category: Sports/Fitness
Are We Headed for More Inventory Overhang as Retailers Bring Goods in Early?
If the forecasts prove correct, 2024 will have seen a seven-month stretch of import levels at or above 2 million TEU, the longest since a 19-month stretch through September 2022, as retailers pull shipments forward for fear of a port strike.
FIFA Opens New Office in Miami Ahead of World Cup 2026
FIFA has opened its new Legal and Compliance Division office based in Miami, FL, underscoring the organization’s expanding global footprint ahead of the FIFA World Cup 26 in North America and Mexico.
Newton Golf Appoints Chief Financial Officer
Doug Samuelson replaces former CFO Steve Handy. He reportedly brings significant SEC reporting experience, Sarbanes Oxley compliance experience and over ten years of experience in public accounting.
Crunch Fitness Plans New Fitness Facility in Florissant, MO
The $5 million, 40,000-square-foot Crunch Florissant will be managed by the locally owned and operated Crunch Fitness franchisee, The Undefeated Tribe. The new gym will be in a former Gold’s Gym in the Florissant Market Place next to Schnucks.
Rally House Open Fourth Colorado Location
The new store in Westminster, CO, is the company’s fourth storefront to open in the state this year, following the opening of Rally House Outlets at Castle Rock and Rally House Alcove on Arapahoe in June and Rally House Belmar in July.
Tenured Troon Exec Named Director of Business Development
A Phoenix, AZ resident, Landers has over ten years of industry experience in sales and marketing leadership roles, most recently as the membership and marketing director for Phoenix Country Club, a Troon Privé managed club.
EXEC: Footwear ASPs Continue to Decline Coming Out of Yue Yuen Factories in H1
Yue Yuen reportedly saw the volume of shoes it shipped to brands in the U.S. and Europe increase nearly 10 percent in the first half period ended June 30 (H1), but revenues for those pairs only increased 1.3 percent as average selling prices (ASP) declined 7.8 percent for the period.
NRF: U.S. Not Likely Headed Into Recession, but Jobs Market Slowdown Possible
NRF’s chief economist believes the U.S. economy has dodged a recession, but is on the cusp of nailing a long-awaited soft landing with a simultaneous cooling of growth and inflation. However, the jobs pictures seems to be another story.
Delta Cycle Recalls Ceiling Hoists with Straps Due to Injury Hazard
This recall involves ceiling hoists with straps, model number RS2300. The company lists the model number only on the product packaging. Delta Cycle sold about 25,000 of its ceiling hoists in the U.S. and 3400 in Canada from February 2017 through July 2024.
Gymshark Hires Chief People Officer
Keane worked for over 11 years at the luxury etailer Farfetch in various roles, including chief people officer from 2018 to 2024. Gymshark also announced it plans to open its first store outside the UK this year at the UAE’s Dubai Mall as part of its global omnichannel growth.
EXEC: Genesco CEO and CFO Share Journeys, Schuh and J&M Details from Q2
Although Q2 results were better than expected, the company continues to retain a cautious view and, as such, reiterated its most recent full-year EPS outlook of 60 cents to $1.00 per share. The soft guidance sent shares lower for the day.
Oksana Masters Wins Second Paralympic Gold in Paris
USA’s Oksana Masters defended her Tokyo gold medal in the women’s H4-5 individual time trial, beating the Netherlands’ Chantal Haenen by 6.24 seconds after trailing by over 20 seconds earlier in the race.
Journeys Parent Narrows Q2 Loss as Sales Tick Up; Raises FY Guidance
Genesco, Inc. now expects total sales to decrease 1 percent to 2 percent for the year, versus prior expectations for a total sales decrease of 2 percent to 3 percent.
Lotto Adds Kellyn Acosta to Roster; Launches Lifestyle Footwear at Dick’s
The Chicago Fire FC midfielder joins Lotto’s Athlete roster. Timed with the signing, parent company WHP Global launched the Lotto Leggenda lifestyle footwear collection with Dick’s Sporting Goods.
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