Global Survey: Running Participation Surpasses Pre-Pandemic Levels
The Running USA Global Runner Survey was based 7,400 runners and event participants, was conducted over June and July 2024. Brooks and Asics again ranked as the preferred running and training footwear brands by respondents.
EXEC: Nike, Inc.’s Debt Ratings Outlook Lowered by S&P
S&P Global Ratings downgraded its debt ratings outlook on Nike, Inc. as the company pulled its financial guidance for the fiscal year ending May 2025 and postponed its investor day amid a strategy shift and CEO transition.
Report: M&A Activity in Active Lifestyle Sector Seeing Strong Recovery
Houlihan Lokey’s “Active Lifestyle Market Update” for the second quarter shows M&A activity in the active lifestyle space has rebounded strongly from a “muted” 2023, “supported by increasing confidence, renewed financing market activity, and a return of mega deals.”
EXEC: SoCal’s Mt. Waterman Ski Area Sold to Investor Group
Angeles Mountain Partners, LLC (AMP) has acquired Mt. Waterman Ski Lifts, LLC, assuming management and operations. The company described it as “Southern California’s closest and most iconic mountain resort,” located an hour from downtown Los Angeles.
EXEC: Adidas AG Appoints Mathieu Sidokpohou Head of Global Sales as Hoeld Departs
Sidokpohou joined the company in 2020 as general manager of Adidas France. In July 2021, he became Cluster South Europe’s general manager before taking over as managing director for Europe in 2023. He succeeds Arthur Hoeld, who will step down at the end of October.
EXEC: Mountain Trade Network Acquires London Snow Show Brand
Mountain Trade Network, owners of the Listex, Listex Luxury and Sastex B2B trade shows, has acquired the London Snow Show brand from Raccoon Media Group, marking a milestone in the future of the UK snow sports industry.
BSN Sports and Varsity Spirit Parent Hit by Data Breach
Varsity Brands, the parent of BSN Sports and Varsity Spirit, disclosed that more than 65,000 individuals may have had their personal information stolen due to a data breach that occurred earlier this year.
Report: September Retail Sales Top Expectations, Led by Clothing and Footwear
U.S. retail sales increased a seasonally-adjusted 0.4 percent month-over-month in September, up from the unrevised 0.1 percent gain in August, according to the U.S. Department of Commerce. The performance was slightly ahead of the 0.3 percent the Dow Jones forecasted.
EXEC: Nike Eyes Stronger Return to Outdoor Business with Renewed ACG Focus
Nike has tasked Angela Dong, Nike’s top executive in Greater China, with overseeing its outdoor sub-brand, All Conditions Gear (ACG), as Nike revisits its opportunity in the outdoor space to revive growth.
EXEC: Stella Intl Sees Increased Q3 Sport Footwear Shipments Cut into ASPs
The manufacturer of footwear for Nike, Saucony, Under Armour, Merrell, Timberland and Ugg saw Q3 shipment volumes roughly flat in US dollar terms, despite comping against a decrease of approximately 18.7 percent in Q3 last year.
EXEC: Frasers Group Managing Director of Sport to Step Down
The parent company of Sports Direct, Everlast, and Slazenger, reported that Ger Wright will leave her role as managing director of Sport at the end of November. Wright will remain on the Group’s Board as a non-executive director.
EXEC: REI Selling Four Distribution Centers in Sale/Leaseback Plan
REI is seeking to monetize the value of the DCs through a triple-net (NNN) sale/leaseback transaction with an end of year 2024 Closing.
EXEC: Lululemon Touts International Growth Potential
At an investor event held in Shanghai, Lululemon Athletica officials did not provide any major updates on progress in reviving North America revenues, but analysts told SGB Media that officials laid out a convincing strategy to reach its goal of having international ultimately represent half of sales, fueled predominately by China Mainland.
EXEC: Rip Curl CEO Resigns Two Weeks After Parent Company CEO Resigned
Brooke Farris has given notice of her resignation as Rip Curl brand CEO. The move comes just two weeks after Daly gave his notice to the Board of his resignation after serving as Group CEO since May 2021.
EXEC: Adidas Again Lifts Guidance on Robust Third Quarter Results
Excluding Yeezy sales, currency-neutral revenues jumped 14 percent in Q3. Any further Yeezy sales this year are expected at cost, resulting in ~€50 million in additional sales and no further profit contribution in the fourth quarter.
