SGB Executive Sports & Fitness
Cultural Shift: Lululemon’s Global Wellness Report Finds Wellbeing Burnout
Lululemon’s fourth annual 2024 Global Wellbeing Report underscores a move towards a more personalized approach to well-being amid a fast-paced digital lifestyle. For market stakeholders, understanding the nuanced needs of consumers is key for success in this evolving landscape.
EXEC: Giant Group Subsidiary Acquires Stages Cycling Assets Out of Chapter 11
SPIA Cycling, Inc., a subsidiary of Taiwan-based The Giant Group, has successfully acquired key assets of the Stages Cycling brand from its owner companies, some of which filed for Chapter 11 bankruptcy protection in June.
EXEC: Analysts See Nike’s CEO Change Giving the Brand Room to Maneuver
Not since ET, the Extraterrestrial has the resurgence of someone named Elliott created the amount of excitement Nike, inc. generated on Thursday when the company named former Nike exec Elliott Hill as the next president and CEO of the largest sporting goods company in the world
EXEC: Nike Putting the Band Back Together as Elliott Hill Named CEO, Effective October 14
Nike’s Board of Directors, with CEO John Donahoe, announced he will retire as president and CEO from its Board of Directors effective October 13.
EXEC: The 2024 Holiday Retail Calendar Adds Twists, Turns and Speed, According to BCG
In 2023, consumers completed over 50 percent of their Holiday shopping before Thanksgiving. However, the peak Holiday period (after Cyber Monday through Christmas Eve) was still the busiest, with 36 percent of shopping. This year that period will only have 27 days.
EXEC: Gartner Expects 32 Percent of Consumers to Shop Early for Holidays
Gartner suggests that 32 percent of consumers will begin holiday shopping between July and October and only 14 percent of U.S. consumers plan to spend more year-over-year, with 21 percent of consumers reducing their holiday spending.
Go Sport Expanding into Baghdad, Iraq
The international sports retailer’s expansion into Iraq is part of Go Sport’s broader growth strategy, following the brand’s acquisition by Al Mana in April 2023.
EXEC: Bain Sees E-Commerce Driving 90 Percent of Holiday Growth (updated)
Bain said a potential rate cut this week could spur consumer confidence and sales may also benefit as some consumers feel wealthier from rising disposable income and strong stock market gains this year. Deloitte and Bain both see e-commerce up in the high single digits for Holiday 2024 versus Holiday 2023.
EXEC: Nike and Adidas’ China Retail Partner Warns of Fiscal H1 Sales and Profit Decline
The company, which also manages retail operations in China for other “non-principal” brands, including Puma, Converse, Vans, The North Face, Timberland, Asics, Hoka, Skechers, the NBA, and other brand partners, reported that H1 profit is expected to decrease 35 percent year-over-year.
EXEC: New Hibbett Parent JD Sports Names First U.S. Non-Executive Director
Prama Bhatt, a non-executive director on the company’s Board of Directors, joins the Nominations and Remuneration Committees and the Board of JD’s U.S. subsidiary, Genesis Holdings, Inc., effective September 23, 2024.
EXEC: Biden Uses Executive Action to Stymie Temu and Schein Efforts in the U.S.
The actions would also protect U.S. textile and apparel manufacturers, noting the critical role they play in the U.S. defense industrial base and its support of hundreds of thousands of direct and indirect jobs in the United States.
EXEC: Caleres Brand Portfolio Sees Tough Q2 on SAP Update while Famous FW Improving
An ERP upgrade to SAP Cloud during the quarter was said to be a significant part of the problem as it impacted the Brand Portfolio business and helped push sales down 5.1 percent in that segment, but it was not the entire problem. CEO Jay Schmidt detailed the problems and the solutions implemented.
EXEC: Tommy Bahama Parent Sees Economic Uncertainty Hit 45+ Affluent Consumer
Oxford Industries, Inc., the parent company of Tommy Bahama, Lilly Pulitzer and Johnny Was, continued progress on long-term strategic goals in Q2, but the company also said it fell short of delivering on its near-term financial targets.
EXEC: Designer Brands CEO Digs Deeper into DSW Results as August Comps Turn Positive
The parent of the DSW, The Shoe Co., and Rubino retail brands, and Topo Athletic, Keds, Le Tigre, Hush Puppies, and other footwear brands, also had to come to terms with the impact of the economy on their customers and cut guidance for the full year.
EXEC: Academy Shares Get Lift as Positive Comps Returned in August
With some major negative events behind it, Academy looks to new store growth as the primary sales driver. The stores opened in 2022 are all comping postive despite the challenging economic backdrop and remain pleased with the 2023 and 2024 new stores.
