Will Sports Marketing Change Post-Bribery Scandal?
Will the arrest of Jim Gatto, the director of global sports marketing at Adidas, in the college basketball bribery scheme soon lead to charges against other sports industry execs and an overhaul of sports sponsorships?
Nike’s U.S. Challenges Continue
Andrew Campion, Nike’s CFO and EVP, said on a conference call with analysts, “Given all of these dynamics, just one quarter into the year, it’s unclear, and I wouldn’t say precisely where North America will land for the full fiscal year.”
Mission Gets Its Own Heat Lab
In an interview with SGB, Josh Shaw, founder and CEO of Mission, said that beyond apparel, the lab will provide research into beverages, wearables and other areas. Said Shaw, “It’s going to be used to really further all elements related to heat safety.”
Aegis Capital Initiates Coverage On Escalade And Nautilus
Aegis Capital initiated coverage of Escalade Inc. and Nautilus Inc. Both earned a “Buy” rating.
Bass Pro And Cabela’s Celebrate Merger Closing
With a video declaring the two companies were “Moving Forward Together,” Bass Pro on Monday celebrated the closing of its $4 billion merger with Cabela’s.
Under Armour Upgraded, VF Corp Downgraded
KeyBanc Capital Markets on Monday raised its rating on Under Armour due in part to its recent hiring of Patrik Frisk as COO. At the same time, the investment firm lowered its rating on VF Corp. due in its valuation and online weakness at its jeanswear coalition and Timberland.
Finish Line “Somewhat Optimistic” On Back-Half Sneaker Rebound
On a conference call with analysts, Sam Sato, Finish Line’s CEO, cautioned the company expects “sales and margin trends to remain difficult throughout the remainder of the year,” maintained its forecast for the year, and noted that the industry overall was still learning to adapt to changing buying behaviors around sneakers.
Aisle Talk, Week Of September 18
Top headlines from the active lifestyle industry you may have missed this week.
Consumer Direct Offense Gets Heavy Play At Nike’s Annual Meeting
At Nike’s 37th annual meeting held at its Beaverton headquarters, Nike officials discussed the company’s liberal leanings, its climate change actions and new NBA partnership. But most of the time was spent talking up its “Consumer Direct Offense” initiative.
Susquehanna Upgrades Hibbett Sports On Hurricane Benefits
Susquehanna Financial Group has upgraded its rating on Hibbett Sports as it expects its stores and recently-launched e-commerce site to benefit from footwear replacement needs caused by hurricanes Harvey and Irma.
E-Bikes The Focus Of BPSA’s First-Ever Annual Report
The Bicycle Product Suppliers Association (BPSA) released its first-ever Annual Report and, not surprisingly, grappling with safety and legal issues around e-bikes was a major discussion point.
Academy’s Challenges Continue In First Half
Moody’s downgraded the debt ratings of Academy Sports + Outdoors due to “difficult market conditions, including a highly promotional environment for athletic apparel and weak demand for firearms and ammunition,”
Fitbit Not Too Worried About Apple’s New Smartwatch
At the Deutsche Bank Technology Conference, William Zerella, Fitbit’s CFO, said that while the recent launch of the Apple Watch Series 3 caught some buzz, Fitbit’s first smartwatch, Ionic, is ready to compete in the space.
Nike Faces Downgrades On Growth Concerns
Analysts from Susquehanna Financial Group and Jefferies on Tuesday lowered their earnings guidance and price targets on Nike due to further growth concerns. Susquehanna also lowered its stock rating on Nike.
Wells Fargo Downgrades Under Armour, Cuts Estimates On Athletic Sector
Wells Fargo downgraded Under Armour to “underperform” while lowering its estimates on Under Armour, Nike, Lululemon and Finish Line due to a slowdown in the athletic cycle.
