SGB Executive Sports & Fitness
EXEC: Asics NA Q1 Gains Led by Perf Run and SportStyle as Global Asics Growth Rocks
The growth across the North America run specialty trade channel in Q1 was said to be due to the “significant demand” for the Novablast family of products, along with strong sales of two key legend models: the Gel-Cumulus and Gel-Nimbus.
EXEC: Dick’s SG and Foot Locker Confirm $2.4 Billion Merger Deal
After seeing the global ambitions grow for JD Sports and Sports Direct, now comes the colonists, with Dick’s Sporting Goods fighting the good fight to protect the motherland from the ambitions of the crown while offering a new global vision for the Dick’s Sporting Goods and Foot Locker brands.
EXEC: Dick’s Sporting Goods, Inc. Makes Bid to Acquire Foot Locker, Inc.
The ywo side confirmed the merger deal the morning of May 15 with a total estimated acquisition price of $2.4 billion.
EXEC: Adidas Shareholders Approve Supervisory Board Chair’s Re-Election
Shareholders at the group’s annual general meeting supported Thomas Rabe’s election for another year with 64.43 percent of votes, securing his sixth year in the role.
EXEC: Under Armour’s Turnaround On Track, Forgoes FY Guidance on Tariff Uncertainty
Under Armour, Inc. saw another quarter of progress in its turnaround efforts but refrained from providing guidance for the full year due to the tariff situation. Officials told analysts they’re exploring “a range of mitigation strategies” to offset tariffs, including cost sharing, sourcing diversification and potential price adjustments.
EXEC: On Holding Beats Q1 Expectations as DTC Rocks; Raises FY Guide
On Holding posted 40 percent net sales growth on a constant-currency basis in Q1. The updated outlook implies a constant-currency net sales growth rate of close to 25 percent for the remaining nine months of the year.
EXEC: Yonex Sees Racquet Sports Boost from Summer Olympics
Japan-based racquet sports and golf equipment manufacturer Yonex Company, Ltd. reported revenues expanded 18.8 percent in its fiscal year ended March 31 to ¥138.2 billion ($936 mm). Sales for Badminton and Tennis increased in Japan and overseas due to strong demand.
EXEC: Mizuno’s Annual Sales and Profits Reach Record Levels; Golf and Running Lag
In the Americas region, Mizuno sales grew 6.2 percent on strength in golf and volleyball, while operating profits improved 18.3 percent year-over-year. The company said there is a sense of a lull in the expansion of the golf market, which has continued over the past few years.
EXEC: Rocky Mountain Transitions into Chaos After Court-Directed Sale of Assets
Three new owners are involved with e-bike maker Maui Bikes, headquartered in Québec. The new ownership team is said to bring diverse expertise, a shared love for cycling and the outdoors and a clear commitment to growing Rocky Mountain while staying true to its DNA.
EXEC: U.S. and China Agree to 90-Day Tariff Pause
In announcing a pause on the tariff war, the U.S. tariffs were cut to 30 percent from 145 percent, and the China tariffs on U.S. goods were cut to 10 percent from 125 percent as the two countries work to develop a long-term deal.
EXEC: Peloton CEO Highlights Four “Objectives” to Drive Growth
The operator of a connected fitness platform in North America and internationally raised its full-year guidance for the third quarter. Recently hired CEO, Peter Stern, highlighted four objectives on an analyst call for engaging current and new members to fuel growth.
EXEC: Saucony is the New Darling for Wolverine Worldwide as Sales Jump 30 Percent in Q1
The Saucony brand is clearly the new darling at its parent company in Grand Rapids, Michigan, delivering revenue growth of 31.1 percent in constant-currency terms in Q1, but is also gaining steam in China, where the licensee there reported 40 percent growth.
EXEC: Merrell Parent’s CEO Lays Out Q1 Results, Tariff Plans and Q2 Growth Estimates
Wolverine Worldwide first quarter revenue grew by over 5 percent on an ongoing basis and nearly 7 percent on a constant-currency basis, with the results driven by the company’s two biggest brands: Saucony and Merrell.
EXEC: SportChek’s Q1 Same-Store Sales Expand 6.3 Percent at CTC
Canadian Tire Corp. reported SportChek delivered a third consecutive quarter of comparable sales growth, up 6.3 percent, driven by strong sales across corporate and franchise stores. Skiing, snowboards, hockey, and outerwear were the top-performing categories in the quarter.
EXEC: Puma SE Profit Plunges on Flat Q1 Sales Growth; Confirms 500 Position Cuts
The company reported flat year-over-year sales growth in the first quarter on a currency-adjusted basis and a 1.3 percent decline in reported terms, as Wholesale fell behind and DTC sales posted double-digit growth.
