EXEC: Sports Direct Parent Invests in Australian Sportstyle Retailer
Frasers Group plc, the parent of the UK-based retailer Sports Direct, has acquired a 14.65 percent strategic investment in Accent Group Ltd., a retailer in the performance and lifestyle market in Australia and New Zealand.
EXEC: Slinger Bag Headed Toward Another Ownership Transition
Company CEO Mike Ballardie has signed a separation agreement to acquire all assets and liabilities related to the Slinger Bag legacy business.
EXEC: Saucony and Merrell Post H1 Surge in China as Xtep Takes Full Control
Saucony and Merrell are now operating under a licensing model in China, and housed within Xtep International’s new Professional Sports segment of business, representing 8.2 percent of total revenues for the company.
EXEC: Mainland Headwear H1 Hurt by Economy, Slow Mexico Factory Output
With production at its new Mexico factory yet to run smoothly as the newly recruited local staff are grappling with workflow., the company has run into high operating costs, resulting in an operating loss for the H1 period.
EXEC: Stifel BTS Survey Reflects Nike’s Fading Popularity at Store Level
New Balance, Adidas, Asics, and Vans all saw improved responses in the 17th Annual Back-to-School Report as Nike and Jordan “Most Popular” references fell to lowest level since the survey started.
EXEC: BSN Sports Gets A New Parent as KKR Closes Varsity Sports Acquisition
As the new majority owner of Varsity Brands, KKR said it will support the company as it continues to grow its business. KKR said it is making this investment primarily through its North America Fund XIII.
EXEC: Golf Rounds Played Fell 5 Percent in Q2 in Great Britain
Total rounds played per course in Great Britain dropped by 5 percent year-on-year in Q2 2024, according to a recent report from UK-based Sporting Insights.
EXEC: EMS Bankruptcy Bidding Process Cancelled Due to Lack of Bids
According to the Bid Procedures outlined in the bankruptcy proceedings, if no Qualified Bids, other than the Stalking Horse Bid, were received by the bid deadline of August 20, 2024, no auction would be conducted.
EXEC: Zepp Health Corp. Saw Wearable Tech Shipments Fall 66 Percent in Q2
For the third quarter of 2024, the company’s management expects net revenues to be between $45 million and $60 million, representing growth of 18 percent to 59 percent for revenue of self-branded products compared with the second quarter of 2024.
EXEC: Globe Intl Sees Fiscal Year Profit Upside as Apparel Grows
North America total segment revenue was A$82.5 million for the fiscal year, compared to A$94.1 million in the prior year. Globe and Impala stabilized after clearing of inventory in FY23; both returned to positive EBIT contribution.
EXEC: China’s Largest Online Fitness Platform Swings to H1 Loss
Revenues from self-branded fitness products were up 7.5 percent in the first half of 2024, mainly from an increase in wholesale channel sales and increased fitness gear and apparel product sales.
EXEC: Sports Footwear Shipment Growth Drives Factory Profit Surge
Average selling prices (ASPs) decreased year-on-year due to the higher proportion of Sports products that carry lower ASPs. First-half gross profit margin expanded by 270 basis points to 25.8 percent of sales.
EXEC: Hibbett’s New Parent Saw North America Outpace UK and Europe in Q2
Second-quarter comparable store sales were reported to be strongest in North America, with 5.7 percent comp sales growth year-over-year. The region also led in organic sales growth.
EXEC: Wilson Sports Returns to Growth in Q2, but Sees Bigger Gains Ahead
The CEO of parent company Amer Sports said Wilson tennis and Wilson China had a big moment recently during the Summer Olympics when Qinwen Zheng won Gold playing with her Wilson racquet.
EXEC: Salomon Sees North America Q2 Wholesale Cut into 55 Percent Jump in Global DTC
Amer opened 27 Salomon shops in Q2 in Greater China, bringing the total count for the brand to 136 doors. Wholesale sales declined slightly for the quarter, negatively impacted by slower pre-orders in the North America sporting goods and ski channels, which increasingly relies on replenishment orders.
