The National Retail Federation and Footwear Distributors and Retailers of America both issued statements expressing disappointment over the Trump Administration’s move last Thursday, July 31, to place tariffs on scores of countries.
Category: Sports/Fitness
EXEC: Lululemon Hit with Price Target Cut from Wells Fargo on Earnings Risk
Wells Fargo lowered its price target on Lululemon Athletica Inc. to $225 from $270 and its earnings estimates for the current and next year, suggesting another guidance reduction may be forthcoming from the athletic apparel retailer.
Dick’s SG Extends Expiration Date for Foot Locker Debt Exchange Offer
The retailer has extended the expiration date in connection with its previously announced offer to exchange Foot Locker notes for Dick’s notes to August 29. The exchange offer was due to expire on August 1.
Arris Composites Appoints Board Member
The maker of advanced materials such as carbon fiber for the footwear and cycling industry appointed Kevin Yeaman, president and CEO of Dolby Laboratories, to its Board of Directors. His experience “directly parallels Arris’ strategy to scale its proprietary technology and composite material innovation across mass-market industries through licensing and strategic partnerships.”
Revelyst Hires Former VF Corp. Transformation and Finance Exec as CFO
The parent company of the Bell, Bushnell, CamelBak, Fox, Giro, and Simms Fishing brands, and others appointed Naren Varatharajah as chief financial officer as part of a planned CFO transition. He succeeds Andy Keegan.
Puma Appoints Archie McEachern as VP of Basketball
McEachern, who takes the helm on August 18, replaces Max Staiger, who left the company earlier this year. He will be based in Boston and report to Puma’s Chief Product Officer Maria Valdes.
Outgoing Topgolf CEO Heads to Harley as Jochen Zeitz Plans Exit
Topgolf Callaway announced last week that Starrs had resigned, effective the end of September. His departure came as the Callaway is planning to spin-off the Topgolf business into a stand-alone company again.
Study: Nearly Three-Quarters of U.S. Retailers Have Lost Profits Due to Tariffs
While 73 percent of companies plan to increase prices to offset the impacts of tariffs, 37 percent admit that it takes weeks or months to implement these price changes. The survey found that 30 percent of the average business costs of U.S. retailers surveyed were exposed to tariffs; this anxiety reflects a significant risk to profits.
Survey: 85 Percent of Parents Worry About Tariffs Affecting BTS Costs
A late July survey from U.S. News found that 57 percent of respondents are cutting back on BTS shopping this year due to concerns about rising prices, with the top categories targeted for reductions being clothes and shoes, accessories, and technology.
Former Nike CEO John Donahoe Named Stanford University AD
John Donahoe, who resigned from Nike last October after a tumultuous term as CEO, was appointed Jaquish and Kenninger director of athletics at Stanford University. He earned his MBA from Stanford’s Graduate School of Business in 1986.
U.K.-Based Fitness Wearable Hytro Receives Fresh Backing
The company has raised a new investment round led by Joyned Capital, an athlete-led angel syndicate focusing on sports investments, and Skin In The Game focused on early and growth-stage startups in the sports, health and fitness space.
Crunch Fitness Franchisee to Add 15 Gyms to Portland, Oregon Market
Fitness Ventures LLC, which operates over 70 Crunch Fitness locations as a licensee across twenty-eight states, has acquired the three existing Crunch Fitness locations in the Portland, OR market.
EXEC: Escalade Eyes Market Share Opportunities Amid Tariff Challenges
CEO Armin Boehm said second quarter sales performance reflects an increasingly cautious consumer demand environment, changing customer buying patterns, and the strategic exit of select product categories.
Vasa Opens Fourth Colorado Springs Club with First Cold Plunge
The nationwide high-value, low-price fitness club operator, opened a new club at 7655 North Union Blvd. in Colorado Springs, its 15th in Colorado and fourth in Colorado Springs. The 48,000-plus-square-foot facility is highlighted by Vasa’s first cold plunge tub.
Stretch Zone Franchise Opens in Fair Oaks, CA
The new franchise location in Fair Oaks, CA, is led by owner Eric Koontz, with Adam Adler serving as manager. Koontz brings decades of leadership experience in the IT industry spanning military, government and healthcare sectors.
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