SGB Executive Sports & Fitness
EXEC: Academy Sports CEO Remains Bullish on Sales Recovery
Academy Sports and Outdoors missed Wall Street’s earnings expectations for the second straight quarter on lower-than-expected sales but Steve Lawrence, CEO, told analysts he remains confident growth will improve in coming quarters as the chain benefits from a focus on newness and value while capitalizing on key selling occasions over the year.
EXEC: Lululemon Had Busy Q1, Beating Estimates, Buying Mexico Ops, Fixing Product Misses
It wasn’t long ago that the market was ready to write off Lululemon as new challenges befell Nike and LULU had its own issues to address, including the recent departure of Chief Product Officer Sun Choe for a new opportunity to run the Vans brand for VF Corp.
EXEC: Authentic Sells Boardriders Retail Ops in W. Europe; Inks Brand Licenses for Key Cats
Beaumanoir reportedly acquired the retail operations for the Boardriders brands across Western Europe and licensed the rights to manufacture, design and distribute branded products.
EXEC: Outdoor Voices Acquired by Consortium Brand Partners
The athleisure lifestyle brand, founded in 2013 by Tyler Haney, marks CBP’s second acquisition, following its announcement of a majority stake in Reese Witherspoon’s fashion and lifestyle brand, Draper James in September 2023.
Nike Inc. Takes Cost-Cutting Efforts to EU with Start of HQ Job Cuts
Nike is cutting jobs at its EU headquarters in Hilversum, Netherlands, outside of Amsterdam, as part of a multi-year cost-cutting plan, according to early reporting from Reuters, citing internal sources at the EU headquarters.
EXEC: DBI Gets Q1 Lift from Topo and Keds While Dress and Seasonal Drag on Retail
DBI also acquired Rubino, a profitable Canadian footwear retailer operating nearly 30 stores, specifically serving the Province of Quebec. Quebec represents nearly one-quarter of Canada’s population, but DBI had no existing presence. Rubino did CN$47 million in 2023.
EXEC: Salomon Opens Two New Stores in Paris Ahead of the Olympics
The first Salomon Sportstyle brand store opened in Paris’ Le Marais neighborhood, joining its recently reported, newly opened Champs-Élysées flagship location.
EXEC: Genesco CEO Outlines the Journeys Turnaround Plan and Progress
As Journeys’ product advances and other strategic initiatives across the business take hold, Journeys’ parent expects momentum to build into fiscal 2026 but also warned of Q2 and Q3 challenges ahead.
EXEC: Athleta Sees Solid Turnaround in Q1, but Q2 Challenged by Tough Promo Comps
Athleta posted 5 percent comp sales growth in Q1, a clear improvement from the forth quarter results that saw Athleta comps down 10 percent and total sales down 4 percent.
EXEC: Inside the First Quarter Foot Locker Call with Senior Execs
The retailer remains confident they will get more allocation on key Nike product this coming fall and holiday, but is also busy going about the business of doubling Hoka each quarter, expanding Asics fueling New Balance growth and getting on the On brand train for the ride.
EXEC: Dick’s SG Leadership Details Q1 Comps, House of Sport, 50K Stores, Q2 View
First-quarter comps were reportedly driven by a 2.7 percent increase in transactions and a 2.6 percent increase in average ticket with strength across footwear, athletic apparel and hardlines. DKS will begin to anniversary the higher shrink rates from 2023 in the second quarter.
EXEC: U.S. Supreme Court Denies Avenatti Appeal to Overturn Nike Fraud Conviction
The Supreme Court rejected Michael Avenatti’s appeal to overturn his conviction for attempting to extort nearly $25 million from Nike and cheating other clients out of millions. He is serving 30 months in a San Pedro, CA, federal corrections facility.
EXEC: TAF Parent Completes Acquisition of Germany-Based Lloyd Shoes
Arklyz owns The Athlete’s Foot, Asphaltgold, Intersocks, Arkrod, and several global licenses or wholesale distribution for Salomon, Head, Nordica, Mammut, Crocs, Adidas, HeyDude, and others.
REI Chicago Union Workers Disrupt Anniversary Sale, Walk Off Job
REI Union Chicago workers walked off the job this on Saturday May 18, during the retailer’s annual Anniversary Sale, demanding the retailer reach a “fair contract” by the end of 2024.
EXEC: Tom Cove to Retire from SFIA Leadership Post in October
Always the gentleman, always understated and always a class act, Tom Cove let slip this week that he will retire from his leadership role at the SFIA, the Sports & Fitness Industry Association, formerly SGMA, in the fall.
