The U.S. economy continues to grow despite U.S. labor disputes and the uncertainty created by Congress, adding to the ongoing challenges of inflation and high interest rates, NRF Chief Economist Jack Kleinhenz said.
Category: Sports/Fitness
Adobe Sees Online Holiday Sales Climbing 4.8 Percent With Record Discounts
U.S. online holiday sales from November to December 2023 will rise 4.8 percent year-over-year (YoY) to $221.8 billion, marked by retailers offering deep discounts and increased online shopping spend, according to Adobe’s forecast.
Levi’s Q2 Impacted By U.S. Wholesale Weakness, Beyond Yoga Impairment Charge
Levi Strauss & Co. said it expects earnings for its fiscal year ended November 30 to come in at the low end of prior guidance while citing continued weakness within the U.S. wholesale channel. The company also absorbed an impairment charge of $90.2 million related to its 2021 acquisition of Beyond Yoga.
Feetures Breaks Ground on New Warehouse Facility
Features broke ground at the end of September for its new 60,000-square-foot warehouse located in Hickory, NC.
Vittoria Opens a New Cotton Bike Tire Factory in Bangkok
This €20 million investment expands Vittoria Tyres Thailand (VTT) factory premises from 36,000 square meters to 51,000 square meters in the Bangpoo industrial district, near VTT’s headquarters.
Vista’s Outdoor Products Spin-Off Will Debut as Revelyst, Inc.
The company will trade on the New York Stock Exchange under the ticker symbol “GEAR” once the separation from the Sporting Products segment is complete.
Inov-8 To Rebrand with New Name and Logo
Inov-8, founded in 2003, is marking its 20 years in the active outdoor industry, manufacturing running, hiking and gym gear, with a rebrand designed to support accelerated growth.
Sports Direct’s Parent Company Plans New HQ
Frasers Group, the U.K.-based parent of Sports Direct, submitted a planning application for a new global headquarters campus at Ansty in Rugby, Warwickshire. The company’s current headquarters are in Shirebrook, Derbyshire.
HanesBrands and University of Cincinnati Extend Partnership
HanesBrands and the University of Cincinnati signed a multi-year extension to their primary apparel partnership that gives HanesBrands exclusive rights across all retail channels to design, manufacture and distribute University of Cincinnati fanwear.
EXEC: An Inside Look at On as Company Builds a “True Sportswear Brand”
On is also looking to expand its share with core runners as part of a long-term goal to become the world’s leading running shoe but recent findings show the brand being worn by just 15 percent of runners on major running routes in Miami and only 7 percent in New York City.
Suunto Unveils Plans for U.S. Direct Distribution
Suunto has implemented a new system to directly distribute its products to U.S. retailers, one of the Finnish company’s key initiatives in expanding its business in North America.
EXEC: Hydro Flask and Osprey on Divergent Paths in Fiscal Q2
Osprey reportedly surpassed expectations for the third straight quarter with help from improving travel demand, but Hydro Flask continued to be pressured by a shift in consumer preference from insulated bottles to tumblers.
EXEC: U.K. Retailers Facing Rising Retail Crime Demand Government Action
The 2023 BRC Crime Survey showed incidents of violence and abuse towards retail workers had almost doubled from pre-pandemic levels to 867 incidents every day in 2021/22. Top executives at JD Sports were signatories to the demand letter.
On Plans to Double Sales and Reach 60 Percent Gross Margin by 2026
The company plans to grow 2026 net sales to at least CHF3.55 billion, or approximately $3.95 billion at the average September 2023 conversion rate, reflecting a CAGR of over 26 percent based on its 2023 forecast.
Swag Golf Raises $10 Million in Funding Round
Swag Golf, a golf accessory, equipment and apparel company based in Northbrook, Il, closed a $10 million growth round led by Verance Capital, a New York-based growth investment firm focused on sports and entertainment.
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