Academy Sports and Outdoors, Inc. reported second-quarter earnings came in just ahead of analyst expectations. Same-store sales declined 7.5 percent in the quarter but improved throughout the quarter. Academy reiterated its sales guidance while raising its EPS outlook due to share repurchases.
Category: Sports/Fitness
Journeys Again the Culprit as Genesco Swings to Q2 Loss on Lower Sales
The overall 2 percent sales decline was driven by an 11 percent decrease at Journeys and a 7 percent decrease at Genesco Brands, partially offset by an increase of 21 percent at Schuh and an increase of 4 percent at Johnston & Murphy.
Fanatics Lands at Academy Sports + Outdoors
Academy Sports + Outdoors announced it entered into a partnership agreement with Fanatics to enhance the retailer’s in-store and online assortment of officially licensed sports merchandise beginning this fall.
Avenatti Loses Conviction Appeal in Nike Extortion Case
The US Court of Appeals for the Second Circuit rejected Michael Avenatti’s claim that no sufficient evidence supported his February 2020 conviction on charges of extortion and honest services fraud for threatening to smear Nike if the company did not pay him millions.
Z Supply Appoints First Chief Communications Officer
The women’s lifestyle apparel and accessories brand hired Erika Klein as chief communications officer, moving from her role as its chief marketing officer, a position she has held for the past six years.
Fitness On Demand Hires CEO
Fitness On Demand, a fitness content provider, hired Andy Peat as CEO.
EXEC: Mainland Headwear H1 Revenues, Profits Fall Double-Digits
The manufacturer and seller of headwear and accessories products said in its H1 report that manufacturers and traders faced the “challenges of built-up inventories waiting to be consumed, weakened new demand and stagnant production and sales.”
EXEC: Saris Plots Continued Recovery Under New Ownership
The bike racks and trainers manufacturer Saris is under new ownership, acquired by C+A Global in October 2022. SGB Executive talked with Stefan Guelpen, head of global sales, about how the company helped stabilize and reposition Saris for growth.
August U.S. Consumer Confidence Index Decline is Highest in Two Years
U.S. consumer confidence fell the most in two years as pessimism on the labor market, higher borrowing costs and stubborn inflation curbed optimism. The Conference Board continues to expect a recession before the year’s end.
Report: Golf Apparel Has First Monthly Sales Decline in 18 Months at Specialty
Golf Datatech reported that July 2023 retail sales for golf apparel at on- and off-course specialty shops in the U.S. posted their first decline in 18 months, decreasing 3.6 percent versus the year-ago July period.
MC Sports’ Mort Finkelstein Passes Away
Mort Finkelstein, the co-founder of the MC Sports chain, passed away on August 17. He was 93.
Mitchell & Ness Names New CEO as Kevin Wulff Retires
Eli Kumekpor has been named the company’s CEO, effective immediately. Kumekpor was most recently global VP and general manager of the Jordan Brand’s men’s business. He succeeds Kevin Wulff, who is retiring on Friday.
Nomadix Names New Brand Marketing Manager
Nomadix, the maker of The Only Towel You Need, made from post-consumer recycled materials, promoted Elyse Cornett to brand marketing manager, responsible for developing and executing marketing strategies.
Chandler Bats Acquires Emery Glove
Chandler Bats announced the acquisition of custom baseball glove manufacturer Emery Glove Co., benefiting both companies with product diversification and increased opportunity for customer crossover.
Active Brands Group Hires E-Commerce Manager
Sweden-based ABG hired Rohan Callander as e-commerce manager responsible on expanding the DTC business for its portfolio of brands.
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