SGB Executive Sports & Fitness
EXEC: Nike’s Stock Nets “Buy” Upgrade on Leadership Changes
Nike scored its first rating upgrade since news arrived of Elliot Hill’s appointment as CEO. Truist Securities’ Joe Civello believes Nike’s increasingly veteran-driven management team will be able to revive marketing and innovation, including better promoting Caitlin Clark, while further repairing wholesale relationships. Selling direct on Amazon was also cited as a “game-changer” opportunity.
EXEC: Anta Sports Sees Fila’s China Retail Sales Turn Negative in Q3
The company is the largest shareholder of Arc’teryx, Wilson and Salomon parent Amer Sports, and also runs retail stores in China for the Anta brand, Fila, Descente, Kolon Sport, and Amer Sports.
EXEC: Ten Takeaways from SFIA’s 2024 Team Sports Report
SFIA’s 2024 U.S. Trends in Team Sports Report included some concerning findings, including continued deterioration in Core participation, but overall had more positive findings than negative, including momentum behind girls’ participation, improving participation rates for lower-income households, and team sports overall recovering smartly from the pandemic. SGB Media highlights 10 takeaways from the report.
EXEC: Swedish Investment Firm Merges Five Companies into Single Sports/Active Entity
Storskogen companies Ullmax, JO Sport, Tennis fashion, Racketdoktorn and On Target have merged into the joint company ASHE, which now constitutes a leading Nordic distribution, sales and marketing partner within sports and active lifestyle.
EXEC: September Footwear Factory Shipments Shine as Key Nike Factory Returns to Growth
Yue Yuen’s Manufacturing business boasted a 26.7 percent year-over-year increase in September, while Feng Tay reported Manufacturing revenues inched up 1.3 percent to NT$6.82 billion in September.
EXEC: Precor Partners with SPIA Cycling Stages Cycling Distribution
Under the terms of the agreement, Precor will serve as the North American distributor for Stages Cycling’s commercial product lines, with distribution rights expanding to additional regions worldwide
EXEC: Piper Sandler Survey Finds Adidas, Hoka, On, New Balance and Ugg Gaining Teen’s Attention
Piper Sandler’s 48th semi-annual Taking Stock With Teens Survey for Fall 2024 latest teen survey found Nike, Lululemon, Converse and Crocs highly popular but losing mindshare. Adidas, Hoka, On, New Balance and Ugg have gained in popularity.
EXEC: Amer Sports Shares Results of Golden Week in Greater China
The parent of Arx’teryx, Salomon and Wilson Sports said it continues to see an outsized growth opportunity in China, notably in the outdoor segment, which has been resilient despite the weak economy.
Survey: Nearly Two-Thirds of Americans Want to Shop Local More
Lending Tree’s online survey of 2,000 U.S. adults, taken from August 12-14, 2024, found that 90 percent of respondents believe shopping locally positively impacts the quality of their life.
EXEC: JD Sports Reports Fidelity Subsidiaries Fall Below 5 Percent Voting Rights
FMR LLC has seen its voting rights percentage fall below the 5 percent threshold for reporting purposes to 4.95 percent of JD voting rights. JD Sports is the parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail brands in the U.S.
EXEC: Vista Inks Deals to Sell Revelyst and The Kinetic Group Separately
Vista Outdoor Inc. entered into a definitive agreement to sell its Revelyst outdoor segment to funds managed by Strategic Value Partners and amended its merger agreement with Czechoslovak Group (CSG) to acquire The Kinetic Group ammunition-related segment.
Manufacturing PMI Report Sees U.S. Contraction; Textile Mills Posted Sept Growth
Seventy-seven percent of manufacturing gross domestic product (GDP) contracted in September, up from 65 percent in August. Textile Mills were one of only five manufacturing industries reporting growth in September.
U.S. Port Workers and Operators Reach Deal to Suspend East Coast Strike
In a joint statement on the evening of October 3, the ILA and USMX reached a tentative agreement on wages and extended the group’s “Master Contract” until January 15, 2025, when they will return to the bargaining table to negotiate all other outstanding issues.
EXEC: Post Earnings Call, Analysts See Slow Recovery for Nike
Shares of Nike, Inc. fell about 7 percent on October 2. SGB Media spoke with eleven Wall Street analysts to explore Nike’s turnaround prospects. Several remain bullish on Elliot Hill’s return as CEO; however, a return to healthy growth might only happen in calendar year 2026.
CCM Hockey Agrees to Acquisition by European PE Firm Altor
The Canadian equipment brand owned by Birch Hill Equity Partners agreed to be acquired by the Swedish private equity firm Altor. The transaction is expected to close by the end of 2024.
