Top headlines from the active lifestyle industry you may have missed this week, including Foot Locker making a strategic investment in Pensole Footwear Design Academy.
Category: Sports/Fitness
VF Corp Lifts Full-Year Guidance On Vans Gains
VF Corporation raised its guidance for the year after reporting earnings in its third quarter ended December 29 came in well above Wall Street’s consensus estimates. Sales grew 8 percent led by a 25 percent hike in Vans and a 14 percent gain at The North Face.
Skechers Returns To Chevron Houston Marathon
Skechers Performance, a division of Skechers USA, Inc., returns to Houston, Texas on January 20, 2019, for its sixth year as the official footwear and apparel sponsor of the Chevron Houston Marathon and Aramco Houston Half Marathon.
Shopko Becomes Latest Casualty Of Online Disruption
Shopko, already weighed down by a heavy debt load due to a leveraged buyout, said competition against the national big box chains and consolidation in the pharmacy industry both played a role in its trip to bankruptcy court. But in an affidavit in Nebraska’s bankruptcy court, Russell Steinhorst, CEO, blamed the retailer’s eroding operating performance largely on the dramatic shifts across retailer in recent years to online selling.
ICR Recap: Which Brands Won Over Investors?
The ICR Conference in Orlando, FL, gave brands across the consumer and retail industries a chance to present their current financial profile and plans for 2019 and beyond. Some companies, like Lululemon (whose presentation wasn’t public), have seen values surge post-conference.
Nautilus Provides Preliminary Q4 And 2018 Financial Results
Nautilus on Thursday released preliminary results for the fourth quarter of 2018 and fiscal year ended December 31. They will not be final until the conclusion of the company’s audit and the announcement of final results in late February.
Foot Locker Makes Strategic Investment In Pensole Footwear Design Academy
Foot Locker, Inc. announced that it has made a $2 million strategic investment in Pensole Inc., which operates the Pensole Footwear Design Academy. The investment by Foot Locker, Inc. deepens Foot Locker’s longstanding partnership with Pensole and extends the companies’ relationship across all aspects of the design process.
New England Patriots Choose Ironturf For Empower Field House
GeoSurfaces North East announced that five-time Super Bowl champion the New England Patriots will now practice on Ironturf, at Empower Field House. Ironturf is manufactured in the United States by GreenFields USA. The just-completed field is approximately 80,000 square feet and is lined for both football and soccer, as Major League Soccer’s New England Revolution, will also practice on the field.
ECAC Hockey Announces Partnership With SquadLocker
ECAC Hockey announced Wednesday that it has agreed to a partnership with leading gear and apparel company, SquadLocker. The deal extends through the end of the 2018-19 season.
PHIT America Releases “Power of P.E.” Documentary
PHIT America has launched a 28-minute documentary, “Creating Healthier & Smarter Kids: The Power of P.E.,” detailing the negative side effects of physical inactivity. The video will be distributed to P.E. teachers and other school administrators to help highlight the importance of P.E. programs.
The Under Armour Association Adds Girls Basketball League Platform
The Under Armour Association (UAA) announced three newly formed grassroots platforms with UAA-Girls, UA Rise and UA Future, encompassing the entire spectrum of grassroots basketball from 17U to 10U for girls.
Running Awards & Apparel Merges With Racetrackers
Running Awards & Apparel has merged with with Racetrackers Enterprises, Inc. formerly of Spencer, IN. The two companies have supplied running events such as 5Ks, 10Ks and marathons among other races, across the U.S. with custom race apparel, race medals, technical running shirts, and more for over 35 years.
Shopko Files For Bankruptcy
Shopko, the operator of general merchandise stores based in Green Bay, WI, filed for Chapter 11 in the District of Nebraska. The company is pursuing restructuring as a result of “excess debt and ongoing competitive pressures.”
Puma Appoints Arne Freundt As Regional General Manager Europe And EEMEA
Puma has appointed Arne Freundt as regional general manager Europe and EEMEA with immediate effect. In this position, Freundt had been Puma’s global director retail & e-commerce.
TRX Completes Strategic Growth Recapitalization
Structured as a management buyout of previous investors by Equity38, the partnership was ideal for TRX in that it maintains the company’s existing infrastructure, led by founder/CEO and former Navy SEAL, Randy Hetrick; while also arming TRX with the capital and significant additional category expertise and resources from Equity38, to further develop the TRX brand.
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