Garmin sales grew 14 percent in the quarter to $1.51 billion from $1.32 billion a year ago, supported by gains of 28 percent in its Fitness segment and 26 percent at its Marine segment.
Category: Sports/Fitness
Report: U.S. Consumer Confidence Shows Slight Uptick in July
Data released July 30, showed that The Conference Board’s gauge for July increased to 100.3 from a downwardly revised 97.8 in June. Based on consumers’ assessment of today’s business and labor market conditions, The Conference Board’s Present Situation Index declined to 133.6 from 135.3 last month.
EXEC: Nike Cuts Workforce but Doubles Down on Endorsement Deals
Employee headcount at Nike’s Beaverton HQ declined 6.1 percent to 10,700 at the close of the company’s fiscal year, which ended May 31, but endorsement deals due within a year surged 31 percent year-over-year.
EXEC: Big 5 SG Suspends Dividend as Q2 Comps Fall 10 Percent and Losses Widen
Second quarter results were said to be consistent with the retailer’s guidance range, as “customers continue to feel the ongoing and cumulative impact of inflationary pressures on their discretionary spending.”
Skechers Signs WNBA Star Forward Rickea Jackson to Elite Athlete Team
“While Skechers is a new player in the basketball world, their commitment to fit, support, and active collaboration with athletes is clear. The comfort and design of their footwear is truly impressive. I love training in these shoes and I’m eager to see what we can accomplish together.” —
TruGolf Links Inks First Regional Development Franchise Deal
The deal with Central New Jersey entrepreneur Nicholas “Nick” Reimondo spans from Bucks County, PA, into Central and Northern New Jersey. The agreement includes the rights to open 40 locations.
PickleRage Hires New VP of Franchise Development
The company added Eric O’Connor to its leadership team as VP of franchise development in an effort to strengthen the brand’s expansion efforts and streamline systems for franchisees.
JD Sports Warehouse Workers in England Face Job Cuts
“Around 200 workers” are impacted, as one staff member said that the consultation period should be concluded by September 6. JD Sports’ nearby distribution center in Rochdale (Kingsway), England, is not affected.
Rip-It Sports Hires First Chief Marketing Officer
Amy Craven was formerly the director of brand and global advertising for American Airlines. Her appointment follows Janelle Anderson’s recent naming as Rip-It Sports’ new CEO in April.
Vista Outdoor Cancels CSG Deal Vote Again; Will Look at Other Options
Adjourned its shareholder vote on the sale of the Kinetic Group, its ammunition business, to the Czechoslovak Group (CSG) to pursue a more extensive review of “strategic alternatives,” including a sale of its Revelyst outdoor products business and selling the company outright to MNC Capital.
Brooks Running Shares Q2 Performance Metrics
Double-digit growth in its Wholesale and DTC channels drove a 15 percent year-over-year increase compared to the 2023 Q2 period.
Brooks Running Appoints New President & COO and New EMEA Chief
Brooks Running promoted Matt Dodge to president and chief operating officer, effective August 1, and hired Josh Vaughan, former EMEA general manager for Icebreaker and Smartwool, to fill Dodge’s former role in Europe.
EXEC: Investor Pressure Builds on Vista Outdoor Ahead of Ammo Sale Vote
Investor groups from the two sides of the vote scheduled for July 27 have been making their preferences known, and analysts and advisors have weighed in with their views. After rescheduling a vote three times, tomorrow is V-Day.
Onelife Fitness to Open First North Carolina Club in 2025
The $10 million sports club will be the company’s first in the state. A growing organization, Onelife Fitness operates 55 locations throughout Virginia, West Virginia, Maryland, Washington, D.C., and Georgia.
Scott USA Appoints Chief Operating Officer
In his new role, Jake Dudek will oversee teams across finance, operations and e-commerce, driving commercial strategy and operations for Scott’s portfolio of sporting equipment brands in the USA.
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