Foot Locker Inc. reported earnings on an adjusted basis eased slightly in the first quarter as increased operating costs to fund strategic initiatives offset improving gross margins and a 4.6 percent comp gain. Earnings came in below Wall Street’s consensus target.
Category: Sports/Fitness
Hibbett Sports Q1 Profits Flies Past Estimates
Hibbett Sports Inc. sharply raised its outlook for the year after reporting first-quarter earnings that blew past Wall Street’s consensus target. Comparable store sales increased 5.1 percent.
RECALL: Ethos Pull-Up Assist At Dick’s Sporting Goods
Dick’s Sporting Goods Inc. is recalling about 10,000 Ethos Pull-Up Assist equipment used for assistance while doing pull ups. According to a statement from the U.S. Consumer Product Safety Commission, the plastic clip on the nylon web band that is attached to the resistance band with a carabiner can break, posing a laceration hazard.
Avenatti Indicted In Nike Extortion Case
Controversial lawyer Michael Avenatti was charged with trying to extort Nike out of more than $20 million dollars by threatening to go public with claims the company was facilitating payments to the families of high school basketball stars. Avenatti separately was charged with stealing about $300,000 from his former porn star client Stormy Daniels.
Peloton Announces Expansion Into Germany
Peloton announced plans to launch in Germany, its third market outside the U.S., by the end of this year.
Foot Locker Surprises High School Seniors With Scholarships
For the eighth consecutive year, the Foot Locker Foundation has awarded $20,000 scholarships to 20 outstanding student-athletes.
Kappa Signs Aston Villa
Kappa, the Italian sportswear brand, in a partnership with Fanatics signed a three-year deal to become the kit supplier to English second-tier soccer club Aston Villa.
PVH Corp. Names Stefan Larsson To Newly Created Role Of President
PVH Corp. announced leadership updates, including Chairman and CEO Manny Chirico signing a new five-year employment agreement and hiring Stefan Larsson as PVH President, a newly created role.
How Asics Plans To Regain Its Stride In Run
Following 13 consecutive quarters of declines, Asics returned to growth in North America in the first quarter, led by the Performance Running category’s return to positive growth. In an interview with SGB Executtive, Richard Sullivan, EVP of sales, categories and marketing, Asics North America, discusses the reason Asics returned as title sponsor of the Los Angeles Marathon and its strategies for regaining its leadership positioning in the run category.
Spain To Exit Adidas Contract
The Spanish soccer federation said it is breaking its contract with Adidas and has opened negotiations with other apparel companies. Adidas has sponsored Spain since 1991.
Asics Releases 2018 Sustainability Report
Asics Corp. released its 2018 Sustainability Report that showed the company making significant progress in reducing CO2 emissions.
Honey Stinger To Sponsor Marine Corps Marathon
Honey Stinger announced its sponsorship of the 2019 Marine Corps Marathon and Historic Half Marathon.
Nike To Change Pregnancy Policy In Athlete Contracts
Nike said Friday it was adding language to future contracts that would protect female athletes’ pay during pregnancy. The change comes after the brand received backlash last week for freezing compensation for some pregnant women under endorsement deals.
Boot Barn’s Comps Climb 10 Percent In Q4
Boot Barn Holdings Inc. reported earnings in the fourth quarter ended March 30 rose 26.1 percent on a 10 percent comp gain.
Nike’s Impact Report Shows Progress On Diversity
Nike Inc’s FY18 Impact Report showed Nike saw a 4 percent increase of VP-level representation of women in 2018, bringing the total to 36 percent. The report, the company’s first Impact Report, further revealed a 3 percent increase of VP-level representation of U.S. underrepresented groups, bringing the total to 19 percent.
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