Vista Outdoor, Inc. announced that Andy Keegan, vice president and interim chief financial officer of Vista Outdoor, was promoted to CFO of Revelyst following Vista Outdoor’s planned separation of its Outdoor Products segment into a standalone public company.
Category: Sports/Fitness
Costco’s Longtime CEO to Step Down at End of Year
Costco Wholesale Corp. said Craig Jelinek, CEO since 2012, plans to step down, effective January 1, 2024. Ron Vachris, president and COO since February 2022, will succeed Jelinek as president and CEO.
Deloitte Sees 2023 Holiday Spending Returning to Pre-Pandemic Levels
Deloitte is forecasting that holiday spending this year will surpass pre-pandemic levels for the first time. Consumers surveyed for the report plan to spend an average of $1,652 during the shopping season—a 14 percent year-over-year increase, though a modest four-year CAGR of 2.5 percent reflecting a normalization of trends.
EXEC: Vista Outdoor’s Guidance Cut Surprises Wall Street
Analysts said Vista Outdoor’s agreement to sell its Sporting Products segment business to Czechoslovak Group (CSG) for $1.91 billion appeared largely in line with the businesses’ valuation. Vista’s 24 percent stock drop on Monday was attributed to Vista’s sharp guidance cut tied to the deteriorating Outdoor Products business.
Kane Footwear x Honey Stinger Collaborate on Recovery Slip-On
Kane Footwear and Honey Stinger collaborate on limited-edition shoe to promote recovery.
Cocona Labs Joins The Conservation Alliance
Cocona Labs reported it joined The Conservation Alliance, with its member dues “directly supporting grassroots conservation efforts and advocating for protected areas.”
Running USA Appoints New Executive Director
The Running USA named Jay Holder as executive director. He was VP of marketing and communications for the Atlanta Track Club for the last seven years.
’47 Makes Key Merchandising and Marketing Executive Hires
Sports fan apparel brand ’47 hired Steven Monti as VP of design and development, Ryan Cross as VP of merchandising and Brooke Thornton as VP of marketing.
Play It Again Sports Parent Posts Q3 Earnings Growth
Winmark Corp., the parent of Play It Again Sports, reported earnings improved 7.5 percent in the third quarter ended September 30, to $11.1 million, or $3.05 a share, from $10.4 million, or $2.93, a year ago.
Nike Launches Strength Equipment Range
Following its move to open fitness studios in partnership with FitLab, Nike has debuted Nike Strength, a line of premium strength training equipment.
Foresight Sports Partners with Awesome Golf
The golf-simulator maker owned by Vista Outdoor formed a partnership with Awesome Golf, a subscription-based maker of golf-simulation software enabling Foresight Sports’ GCQuad, GCHawk, GC3, and Bushnell Golf Launch Pro users to access Awesome Golf’s simulator software programs.
Peloton Forms Multi-Year Partnership with NBA/WNBA
Peloton signed on as an official fitness partner of the NBA and WNBA. As part of the multi-year deal, Peloton will introduce NBA- and WNBA-themed fitness classes to its members and be the first to launch content from NBA Fitness, which will be part of the NBA app.
Retail Sales Grew 3.8 Percent in September; Sporting Goods Trailing Market
The U.S. Census Bureau said overall retail sales in September were up 0.7 percent from August and up 3.8 percent year-over-year. The National Retail Federation (NRF) said the gains have moderated as consumers face continued pressures from the slowed economy.
EXEC: Adidas Ups Full-Year Guidance on Improved Preliminary Q3 Results
Adidas now expects full-year 2023 currency-neutral revenues to decline at a low-single-digit rate in 2023 compared to its previous forecast of a mid-single-digit decline. An operating loss of around €100 million is now forecast, compared to its previous estimates for a loss of €450 million for the year.
UYN Opens Academy for Research and Engineering
Italy’s Unleash Your Nature (UYN) a Trerè Innovation company, officially opened its 38,000-square-foot Academy for Research and Engineering in Apparel and Sport (AREAS) adjacent to its global headquarters in Asola.
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