John Caraccio, chairman of WFS, will serve as interim CEO of World Gym International, while Michael Sanciprian, former CEO of WFS, will be the company’s executive director.
Category: Sports/Fitness
Planet Fitness Appoints CFO
Jay Stasz will join the company on November 4 and work alongside current CFO Tom Fitzgerald until assuming the role full-time on November 15.
OnCore Innovations Adds Investor and Shareholder
Thomas Pieters joins NFL quarterback for the Buffalo Bills, Josh Allen, professional golfers Taylor Gooch and Harold Varner III, investors Chuck Schwab, and LAB Golf, who, with a combination of athletic and business acumen, will drive OnCore Innovations’ mission to elevate the game for professionals and amateurs.
Garmin Ltd. Ups Guidance on Strong Double-Digit Q3 Growth in Fitness, Outdoor and Marine
Garmin adjusted its full year guidance and now anticipates revenue of approximately $6.12 billion and pro forma EPS of $6.85 based on gross margin of 58.5 percent, operating margin of 24.0 percent and a full year effective tax rate of 16.5 percent.
GoPro to Cut 26 Percent of Workforce in Revised Restructuring Plan
The action camera maker now plans to layoff about 26 percent of its workforce (240 employees), up from a plan announced in August that called for the reduction of 15 percent (140 employees).
EXEC: Moncler S.p.A. Sees Consumer Confidence, Weaker Q3 Weigh on YTD Results
In the third quarter, Group revenues were €635.5 million, down 3 percent constant-currency compared to the same period of 2023, cutting into the year-to-date trend increase of 6 percent at constant exchange rates.
Adidas’ Long-Time Chief Corporate Communication Officer to Retire
Jan Runau, Adidas’ chief corporate communication officer since 2006, announced his retirement. He began working for Adidas as a PR manager in Germany
EXEC: Big 5 Sees Improving Sales Trends Leading into Holiday Season
The retailer saw the Apparel and Footwear categories each down ~9 percent and Hardgoods was down ~6 percent in Q3 but a number of product categories are contributing to the improvements in sales trending, including the early rates in fall and winter apparel.
Brooks Running Reaches $1 Billion Milestone in Nine-Month YTD Period
The gains in the third quarter were said to be boosted by a 10 percent year-over-year increase in North America, led by 16 percent e-commerce growth. Revenues grew 10 percent in the EMEA region, reportedly fueled by 24 percent e-commerce sales growth.
EXEC: Adidas Settles with Kanye, But Yeezy Hangover Still a Drag on Strong Third Quarter
With this settlement, Adidas unwound a €100 million provision related to outstanding legal issues over the Yeezy break-up and now plans to also donate that sum to charities. Including the €100 million, total funds earmarked for charity related to the Yeezy inventory sell-off now stand at about €250 million.
EXEC: Shimano Returns to Growth in Third Quarter on Cycling Uptick
Shimano, Inc. reported its first sales increase in several quarters as a recovery at its bicycle components offset a slight decline in its fishing tackle business.
EXEC: Leatt Corporation Ekes Out a Positive Revenue Quarter in Q3 as DTC Sales Jump
The company was said to be “very encouraged” by the results of the 2024 third quarter, calling it a “pivotal quarter” as global revenues returned to growth, “albeit still marginal at this stage.”
EXEC: VF Corp. CEO Sees Recovery Gaining Traction at TNF and Vans Parent
On VF’s quarterly analyst call, Bracken Darrell, CEO and president, said the second quarter delivered “another quarter of really good progress,” marking the third straight quarter of sequential top-line improvement in the decline rate and witnessing moderating sales declines at its two most challenged areas: Vans and the Americas region.
Superstroke Names Par Golf as Distributor for Nordic Region
Vellinge, Sweden-based Par Golf is the sole distributor of SuperStoke’s product line in the Nordic region (Sweden, Denmark, Finland, Norway, and Iceland), effective January 1, 2025.
On, Patagonia, Puma, Salomon, and LVHM Unveil 100% Fiber-to-Fiber Recyled Tee
In July 2022, On, Patagonia, Puma, and Salomon announced that they had joined forces with French biochemical company Carbios to use its biorecycling technology for synthetic fiber recycling. Together they have produced the world’s first enzymatically recycled t-shirt made entirely from biorecycled fibres.
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