In reaching its delisting determination, NYSE Regulation noted the company’s disclosure regarding the expectation that holders of shares of Delta Apparel’s common stock would experience a complete or significant loss on their investment, depending on the outcome of the Chapter 11 cases.
Category: Sports/Fitness
Volvik USA Expands North America Leadership Team
As director of business operations for North America, Matt King has over a decade of experience overseeing operational efficiencies, improving processes and managing resources, most recently at RSR Group, Inc.
Meijer Celebrates 90th Anniversary as Family-Owned Midwest Retailer
Hendrik Meijer, a local barber in Greenville, MI, started the food store to service customers who visited his barbershop. in 1934. Today, the family-owned retailer has with over 500 Meijer supercenters, grocery stores, neighborhood markets, express locations, and distribution and manufacturing facilities throughout six Midwest states operated by over 70,000 employees.
EXEC: Delta Apparel Files for Chapter 11 BK Protection; Names Salt Life Stalking-Horse Bidder
The parent of the Soffe, Salt Life and Delta brands has posted losses for seven straight quarters as elevated inventory levels at the mass channel and related destocking efforts have impacted its Delta Direct vertical blank tee platform.
Sports Authority Founder Jack Smith Passes Away
Jack Smith was the visionary who turned Sports Authority into one of the biggest sporting goods retail brands worldwide. Smith also served as chairman of the board of the National Sporting Goods Association (NSGA) and was inducted into the Sporting Goods Industry Hall of Fame in 2016.
EXEC: Gym King Founder and CEO Buys Out JD Sports Stake in UK Athleisure Retailer
Founder and CEO Jay Parker, via an entity GKH Ventures Ltd. completed the buyout of JD Sports’ stake in The Gym King (Holdings) Ltd., with Parker regaining 100 percent ownership in the business.
Adidas Drops the Velostan Smith
“The Stan Smith sneaker journey started in 1978, and it has been a joy to watch Adidas evolve and reimagine it ever since, with this latest version imagined especially for cyclists – being no different.” —Stan Smith
PGA Tour Hires Chief Marketing & Communications Officer
Former Aon CMO Andy Weitz is responsible for positioning the PGA Tour brand for investment while communicating its global strategy and performance to the Tour’s stakeholders and beyond. He will formally begin working with the PGA Tour in mid-August.
PGA of America CEO Exits, Shifts to Advisory Role
Accomplishments include leadership during the pandemic, delivering deferred compensation retirement plan for members, completing PGA Frisco partnership agreements, and growth of the PGA of America Reach Foundation
Life Time Closes on $90 Million Sale-Leaseback
The sale-leaseback transactions will support the company’s progress in reducing its net debt-to-adjusted EBITDA leverage ratio to under three times sooner than forecasted.
EXEC: Wall Street Analysts Downgrade Nike as Competitors Gain Heat
Nike’s move to slash its sales forecast for the year ahead resulted in downgrades from UBS, Stifel, JPMorgan, and Morgan Stanley. Some analysts cited opportunities for Adidas, Lululemon, Hoka, On, and other competitors to gain shelf space as Nike’s overreliance on lifestyle offerings and innovation struggles continue.
EXEC: Nike Shares Plunge on Surprise Sales Warning for Fiscal 2025
Shares of Nike Inc. closed down 20 percent on Friday, June 28, after the company revised its sales forecast to be down in mid-single digits for its fiscal year ended May 31, 2025, including a high-single-digit drop in the first half.
Scott USA Hires Industry Vet as President
Alongside teams based in Salt Lake City and Ogden, UT, Hap Seliga will work to drive growth in the U.S. market and solidify the company’s position in outdoor verticals.
Pickleball Kingdom to Open 25 New Locations in Ohio and Orlando
Spearheaded by franchisees Sanjay and Dhaval Patel, who will build most clubs in Ohio and several in Orlando.
Nike Inc. Beats Q4 EPS Estimates But Warns of Fiscal 2025 Guidance Cut
Nike Inc. reported earnings in the fiscal fourth quartar ended May 31 exceeded analysts’ consensus targets by 17 cents but also warned that it would downwardly adjust its guidance for the coming year due to continued “challenges” in the marketplace.
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