Looking ahead, total sales are expected to increase in the range of 9 percent to 11 percent; this assumes comparable store sales will increase in the range of 0 percent to 2 percent, on top of the 4 percent increase for the fiscal 2024 year.
Category: Sports/Fitness
Oakland A’s Release Renderings of New Stadium on Vegas Strip
The 33,000-person capacity ballpark will provide an “outdoor feel with views of the city’s skyline.” It is scheduled to open for the 2028 season.
Klean Kanteen Acquired by Think Better Group
The Group will grow Klean Kanteen’s North American distribution while further elevating the brand into European and Asia Pacific markets.
EXEC: Foot Locker Shares Plummet as New Team Overshoots on Plan
FL shares closed down 29.4 percent for the day. Some expected give-back would come after a 43 percent run-up since the Q3 report, but others grew more concerned that FL may be too optimistic about 2024.
Club Pilates Opens 1,000th Studio in Portland
Club Pilates reached a milestone, opening its 1,000th studio in Portland, OR. The space joins a global network across 12 countries offering low-impact Reformer-based workouts.
EXEC: Intersport Spain’s Director General Exits at Board Request
The company said that Ángel Solores, under mutual agreement, is leaving as director general and head of Intersport Spain. However, European media reported that the company had terminated Solores.
USA Pickleball Adds Two At-Large Members to Board
Andrew Feffer and Tori Stevens were elected to serve three-year terms as At Large members on USA Pickleball’s Board of Directors.
Nordstrom, Inc. Gets Lift from Rack Stores and 53rd Week to Post Q4 Sales Increase
In the fourth quarter, the active category was called out for one of the strongest growth drivers by category for both the fourth quarter and full year. Women’s apparel was also called out as a key driver for the fourth quarter.
Jetset Pilates Continues U.S. Franchise Expansion
The franchise continues to grow with over 16 deals in Florida and signed development deals in Texas, North Carolina, NYC, Georgia, and Australia.
Foot Locker, Inc. Exceeds Internal Q4 Estimates but Delays Long-Term Targets
The retailer posted accelerated sales trends relative to the third quarter, EPS that exceeded the guidance range and success across multiple KPIs, but is also delaying by two years its previous guidance for its EBIT margin target while also axing its dividend.
Johnson Health Tech Names New VP Commercial Business, International
John Young was promoted to VP of Commercial Business, International. He joined JHT in 2017 and was previously responsible for commercial sales and business development across the Pan-Asia region.
Ross Stores Comps Up 7 Percent in Q4 and EPS Sees Solid Increase
The discount retailer reported sales for the fiscal fourth quarter ended February 3 grew to $6.0 billion. Ross posted EPS of $1.82 per share for the 14-week fourth quarter ended February 3, up from $1.31 per share for the 13-week Q4 period ended January 28, 2023. The extra week was responsible for 20 cents a share.
Beachbody Raises Cash in California Facility Sale/Lease-Back Deal
The company sold its Van Nuys, CA production facility, which had a net carrying value of $4.8 million at year-end, for $6.2 million and simultaneously entered into a five-year lease of the facility.
Ghost Golf Appoints VP of Sales
Jim Jamison will spearhead Ghost Golf’s efforts to establish a presence in the Green Grass and Big Box Retail markets, which are focal points for its growth strategy in 2024.
NRF Economist Says Inflation and Interest Rates Remain Key to Economy
The NRF’s monthly review indicated that January’s 3.1 percent year-over-year (YoY) inflation, as measured by the Consumer Price Index, improved from December’s 3.4 percent but “still a considerable distance” from the Fed’s target of 2 percent.
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