Nike’s Athlete Think Tank, now in its third year, has expanded adding ten women athletes and four elite women coaches to the collective.
Category: Sports/Fitness
Academy Sports and Outdoors Expands Board of Directors with New Appointment
The company has appointed Scott Boatwright to its Board of Directors, effective immediately. With this addition, Academy’s Board now comprises 11 directors.
New Era Cap, LLC and ’47 Brand Combine to Create $2 Billion Entity
Following the close of the transaction, the New Era and ’47 brands will continue to serve consumers independently from each company’s respective headquarters in Buffalo, NY, and Westwood, MA, with ’47 led by Dominic Farrell.
Tilly’s Inc. Posts Wider Q1 Net Loss as Comps Fall Nearly 10 Percent
Net sales from physical stores were $92.8 million, a decrease of 5.1 percent year-over-year, while net sales from e-commerce were $23.0 million, a decrease 10.8 percent year-over-year.
F45 Training and David Beckham Resolve Past Business Dispute
The company has reached an agreement resolving a prior lawsuit brought by DB Ventures Limited, which concerned an ambassadorial deal with David Beckham. The lawsuit will be dismissed, and DB Ventures Limited will reportedly remain an investor in F45 Training.
Game-Set-Match to Open Second Tennis + Pickleball Store in Vegas
Plans for the new store include a soft opening in the Fall of 2024, pending store construction timing, with a full-scale grand opening in the Spring of 2025. The new store will be located at 2273 N. Green Valley Parkway, in Henderson, NV.
Cinelli Appoints New Australian Distributor
Cinelli inked a new partnership with La Dolce Velo, appointing the company as the exclusive distributor of Cinelli bikes, frames, components, apparel, and accessories in Australia.
Lands’ End Sees 2023 Momentum Continuing into Q1 as GMV Rises
Net revenue decreased 7.8 percent for the first quarter to $285.5 million. Global eCommerce Net revenue was $195.5 million, a decrease of 3.7 percent year-over-year. Gross Merchandise Value (GMV) increased by low single digits compared to the first quarter of 2023.
EXEC: Lululemon Had Busy Q1, Beating Estimates, Buying Mexico Ops, Fixing Product Misses
It wasn’t long ago that the market was ready to write off Lululemon as new challenges befell Nike and LULU had its own issues to address, including the recent departure of Chief Product Officer Sun Choe for a new opportunity to run the Vans brand for VF Corp.
G-III Apparel Invests in Iberian Agent for DKNY, Donna Karan and Karl Lagerfeld
The move is said to accelerate the international expansion of G-III’s owned brands through a partnership with All We Wear Group (AWWG), for an ownership stake of approximately 12 percent.
Stack Athletics Drops Summer 2024 Pickleball Collection
Stack fuses streetwear meets pickleball-focused tech in Summer 2024 apparel collection
Lululemon Beats Q1 Sales and Earning Estimates; Shares Jump Double Digits
The company delivered first quarter EPS of $2.54 per share, beating Street estimates by 12 cents a share. Revenue amounted to $2.21B, outpaced the estimates. Revenue grew 11 percent year-over-year in constant-dollar terms. .
Echelon Fitness Acquires Advanced Recovery Company ThriveX
The maker of at-home exercise equipment for the global fitness, wellness and sports market, acquired ThriveX, the manufacturer of recovery products, including cold immersion systems, smart hybrid saunas and compression boots.
EXEC: Authentic Sells Boardriders Retail Ops in W. Europe; Inks Brand Licenses for Key Cats
Beaumanoir reportedly acquired the retail operations for the Boardriders brands across Western Europe and licensed the rights to manufacture, design and distribute branded products.
HanesBrands Formally Inks Deal to Sell Champion to Authentic Brands Group
The transaction value is pegged at $1.2 billion, with the potential to reach up to $1.5 billion through an additional contingent cash consideration of up to $300 million based on achievement of performance thresholds. Authentic said it intends to manage the Champion brand through a licensing model.
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