SGB Executive Sports & Fitness
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: 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: 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: 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: GoPro Inc. Cutting 15 Percent of Workforce in Cost-Cutting Effort
The Restructuring Plan would reduce its full-time employees by 15 percent from 925 full-time workers at the end of Q2. Cuts would begin in Q3 2024 and be “substantially completed” by the end of 2024. The layoffs would affect 139 positions.
EXEC: A Look Ahead at Amer’s Q2 Results as Weak China Retail Worries Market
Amer Sports Inc. will report Q2 results tomorrow morning and investors are hoping against hope that the slowdown in China did not have an outsized impact on the company’s performance in the period, and the Arc’teryx brand in particular, which relies heavily on the Greater China market for revenue.
EXEC: Why is Nike Back in Play on Wall Street?
There may be some light at the end of the tunnel for Nike investors after NKE shares tallied their longest winning streak in over eight years, pushed higher by a range of actions.
EXEC: Li Ning Company First Half EPS Declines Despite Revenue Growth, Margin Expansion
Li Ning Company Limited reported its overall performance remained stable with pragmatic growth in the 2024 first half (H1) period. Revenue amounted to RMB 14,345 million in H1, an increase of 2.3 percent
