In a report entitled, “Is the Finish Line a step too far?,” Morgan Stanley initiated coverage of JD Sports Fashion Plc with an “Underweight” rating largely due to concerns over its recent mega-acquisition of The Finish Line. Part of that concern is that the merger comes as Nike and Adidas are rapidly expanding their direct-to-consumer (DTC) channels.
Category: Sports/Fitness
Escalade Sports Acquires Victory Tailgate
Escalade Sports, a wholly owned subsidiary of Escalade Inc., announced that it has acquired Victory Tailgate, a brand known for its premium licensed and custom tailgating games. The acquisition will significantly strengthen Escalade Sports’ leadership in the tailgating and lawn games’ categories.
Vapor Apparel Relocating Corporate Headquarters
Vapor Apparel, the maker of sublimation-friendly performance apparel , is moving into a new corporate facility in Hanahan, SC.
Sears To Close Another 40 Stores
Sears Holdings, which filed for bankruptcy last month, said Thursday that 11 Kmart locations and 29 Sears stores will close their doors in February 2019. The retailer is already in the process of closing about 188 stores.
Canadian Tire Touts Growth Potential For Helly Hansen, Looks To Reset Sport Chek
On its third-quarter conference call, Canadian Tire officials indicated that Helly Hansen, acquired in early July, is off to a “good start” with its integration process and should find a bigger presence across the company’s Canadian stores by mid-2019. They also laid out plans for Sport Chek to re-merchandise departments by categories instead of by brand, expand private labels, and improve inventory productivity.
Cheerleading Injuries On The Decline
USA Cheer shared news of a recently published medical research study demonstrating how cheerleading rules can effectively maximize the safety of its participating athletes.
Gympass Expands Its Global Network With Youfit Partnership
The partnership, which kicks off in November, allows unrestricted access for the employees of Gympass’ client firms to all of Youfit’s locations nationwide, adding substantial volume to Gympass’ rapidly expanding global fitness network of almost 40,000 gyms and studios.
Active Brands Making Progress In Sequential’s Q3
While posting a steep loss on impairment charges in the third quarter, Sequential Brands reported that its three active brands – Avia, Gaiam and AND1 – are all gaining traction in the marketplace
Dick’s To Kick Off The Holiday Season With ‘Biggest Black Friday Week Ever’
Dick’s Sporting Goods said it will be holding its “Biggest Black Friday Week Ever” with stores opening on Thanksgiving at 6:00 p.m. The retailer will also be offering Cyber Week deals online and “Hot Holiday Deals” at dicks.com and in-store throughout the holiday season.
Canadian Tire’s FGL Segment Resumes Growth In Q3
Canadian Tire Corporation reported retail sales at its FGL segment, including Sport Chek, were up 1.6 percent in the third quarter with comparable sales up 2.2 percent. The company said it also saw a “strong start” to newly-acquired Helly Hansen.
Adidas Finds Yeezy Boost Can’t Offset Europe Slowdown
Adidas lifted its profitability guidance for the year after reporting robust third-quarter earnings due to better-than-expected margins and strong double-digit growth in North America, China and across e-commerce channels. Yeezy delivered Adidas’ largest digital-release. But the year’s sales outlook was lowered as softness arriving in Europe earlier in the year worsened in the third quarter.
PlumRiver Agrees To Acquire CenterStone Technologies
PlumRiver Technologies on Wednesday announced that the company has signed an agreement to acquire CenterStone Technologies as part of a strategic move to create a standardized B2B e-commerce interface between manufacturers and retailers. Financial terms of the deal weren’t disclosed.
Fleet Feet Announces Honorees Of Inaugural Pacesetter Award
Carrboro, NC-based Run specialty retailer Fleet Feet on Wednesday announced the 12 employee honorees of its inaugural Pacesetter Award.
ISPO Munich Adding Two More Halls For 2019 Show
ISPO Munich will be boasting an extra two halls in ISPO Munich 2019. In January 2018, over 2,800 exhibitors showcased their products at the leading international trade fair spread across 16 halls.
Adidas Q3 Profits Leap, Sales Impacted By Softness In Europe
Adidas hiked its 2018 profit guidance, citing a strong earnings performance in the third quarter, but trimmed its revenue target due to weaker-than-expected growth in Western Europe. Revenues at the Adidas brand increased 10 percent in the quarter, driven by double-digit growth in Sport Inspired as well as high-single-digit growth in Sport Performance. Revenues at Reebok decreased 5 percent.
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