Shares of Big 5 Sporting Goods jumped on Wednesday after the West Coast-based chain indicated it’s holding onto market share gained from the exit of older competitors (Sports Authority, Sports Chalet) while faring well against a newer competitor (Dick’s).
Category: Sports/Fitness
Report: Kering Hires Rothschild To Spin Off Puma
Kering has appointed Rothschild & Co to handle the potential spinoff of Puma, according to a report in French business magazine Challenges.
Garmin Raises Outlook After Q2 Tops Estimates
Garmin Ltd. raised its full-year guidance after reporting that double-digit revenue and operating profit growth in outdoor, aviation and marine led to an above-plan second quarter. Fitness segment sales declined 12 percent.
Wolverine Project Bootstrap Sheds Light On Skills Gap
Project Bootstrap is Wolverine’s way of saying thank you to the women and men who keep the country running through their expert skills and strong work ethic.
Under Armour’s Shares Crash On Slashed Outlook
Shares of Under Armour fell $3.89, or 23.7 percent, to $12.52, on Tuesday after the company significantly reduced its outlook for the year due to further erosion in its U.S. business and indicated the weakness would likely continue in 2018. Sales in the second quarter also fell short of Wall Street’s targets as sales declined for the first time since the company went public in 2005.
Adidas Signs Southern Miss
Adidas signed the University of Southern Mississippi (Southern Miss). The new eight-year apparel deal through the 2024-25 season replaces the university’s contract with Russell Athletic.
Big 5’s Earnings Drop On Firearms And Broader Retail Weakness
Big 5 Sporting Goods reported third-quarter earnings declined 26.8 percent but arrived at the high end of guidance. The retailer continues to be impacted by reduced demand for firearms and had already warned it would face challenges cycling some of the benefit from competitor store closures that occurred last year.
Nautilus Shares Plunge On Lowered Outlook
On a conference call with analysts, Bruce Cazenave, CEO, said the lowered guidance reflects additional investments planned to create momentum for HVT. Retail growth will also moderate in the fourth versus the third due to the timing of launches.
New Balance Unveils ‘All Roads Lead to NYC’ Campaign
New Balance unveiled its All Roads Lead to NYC campaign to mark its first year as the footwear/apparel sponsor of the TCS NYC Marathon. The campaign also includes the opening of a Run Club pop-up in the West Village, NYC VictoryPose locations installed throughout the city, and four Run Concierge spots offering runners opportunities for customization and gifts.
Adidas Reveals David Beckham Capsule Collection
The collection celebrates the over two-decades of partnership between Beckham and Adidas, including a remastered version of the Predator Accelerator, the ‘cleat of a generation’.
Adidas Golf Signs Nation’s Top Collegiate Golfer
Sam Burns was the 2017 Division I recipient of the Jack Nicklaus National Player of the Year award, which is given to the nation’s best collegiate golfer.
Amarillo’s Buck’s Sporting Goods To Close Store
Buck’s Sporting Goods in Amarillo, TX, is closing its store.
Invista Agrees To Sell Apparel & Advanced Textiles Business
Invista has entered into a definitive agreement with Shandong Ruyi Investment Holding to sell Invista’s Apparel & Advanced Textiles business, one of Invista’s four major business units.
Under Armour Again Cuts Guidance On North American Weakness
Under Armour slashed its sales and profit outlook for the year due to “lower North American demand and operational challenges.” Sales in the second quarter also fell short of Wall Street’s targets.
Wall Street Reacts: Nike 2017 Investor Day
Wall Street generally applauded Nike’s plans to ramp up its commitment to innovation and build digital connections spelled out at its Investor Day event last week, but a few were looking for greater insights into near-term trends, especially visibility into when the North America region may recover.
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