Bank of America Corp. (BOFA) upgraded Adidas to “Buy” due to its progress in improving margins while lifting its price target on Dick’s Sporting Goods and Academy Sports on improving sales trends.
Category: Sports/Fitness
Golftec Opens Location in Orlando
Golftec announced it opened an instruction and club fitting center in Orlando, its 14th location in Florida.
Oofos President To Depart, New COO Named
Oofos said Steve Gallo, the recovery footwear’s president since January 2018, will be stepping away from Oofos to take on a new opportunity. At the same time, Dave Mischler was promoted to the role of chief operating officer.
StockX Report Calls Out On, Salomon and Asics as Top YTD Trading Gainers
Success on the secondary market can be a barometer for consumer demand, and Stockx’s report suggests that, despite a more challenging retail environment, brands continue to break through and demonstrate growth.
Logo Brands Inks Licensing Deal with Mississippi State
Beginning January 1, 2024, Logo Brands and Mississippi State University will enter into a ten-year exclusive agreement in the tailgate and inflatables categories.
OrthoLite Names Cirql VP/GM
OrthoLite hired Matt Thwaites as vice president and general manager of OrthoLite Cirql. He was formerly global sales and marketing director of the Footwear Division for Coats, the industrial thread company.
EXEC: 361 Degrees Gets Lift from Kids in H1 Growth
The 361° Kids business, a major initiative for the company in China, grew 33.4 percent year-over-year and now accounted for approximately 21.1 percent of the Group’s total H1 revenue.
EoS Fitness Opens New Center in Miami-Dade County
The new 40,000-plus square foot gym in Kendall, FL adds to the company’s eight locations across the state, keeping EoS on track to reach its goal of 10 gyms statewide by the end of 2023.
EXEC: Pou Sheng is Latest Chinese Retailer to Boast Growth on China Re-Opening
The retail subsidiary of footwear manufacturing powerhouse Yue Yuen International, said it saw decent recovery momentum with increased foot traffic to its brick-and-mortar channels and improved purchasing intent following the lifting of all control measures in mainland China.
EXEC: On Continues to Gobble Up Share in U.S. Run Specialty
On Holdings once again raised its sales guidance for the year after reporting second-quarter results that topped analyst targets. In the Americas, sales vaulted 59.8 percent in the period, driven by strong full-price selling and share gains within the run specialty channel.
EXEC: Descente Ltd. Gets Lift from China Re-Opening in Fiscal Q1
Japan and South Korea reportedly “progressed as expected,” and China’s performance expanded significantly due to “revenge consumption” following the re-opening in January.
Report: July Retail Sales Grew 3.2 Percent Year-Over-Year
The U.S. Census Bureau reported that overall retail sales in July were up 0.7 percent from June and up 3.2 percent year-over-year. That was double the increases seen in June.
EXEC: Analysts Offer Mixed Feedback on July Retail Sales Increase
Retail sales reversed their downward trend in July as Amazon Prime Day and major promotions prompted increased shopping while wage increases gave consumers more money to spend, but an increase in the July inflation numbers and a year-ago July decline could also be at the core of the increase, according to analysts.
F45 To Voluntarily Delist And Deregister Stock
F45 Training Holdings, Inc. announced its intention to voluntarily delist from the New York Stock Exchange and to deregister its common stock.
EXEC: Fila Holdings Sees Sharp Decline in Q2 Margins, Profit on Inventory Liquidation
The company was able to offset most of the sales decline at Fila Brand with a solid contribution from the Acushnet business but the company was not so lucky with margins or profits as inventory liquidation took its toll on the quarter’s bottom line and outlook.
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