SGB Executive Sports & Fitness
EXEC: U.S. Track Star Sues Puma, Charging Shoes Ended Running Career
U.S. track star Abby Steiner said the shoes led to severe foot injuries, resulting in five surgeries to date and “forced retirement” as an elite athlete. She is seeking more than $1.25 million, including hospital expenses and documented lost wages and demanded a jury trial.
EXEC: Anta To Re-Enter India
China’s Anta Sports plans to open 10 stores across India by March 2027 in a partnership with Brandman Retail Ltd. The planned openings come as relations between the two countries have shown signs of improvement and Indian consumers show renewed appetite for Chinese brands.
EXEC: New Balance Targeting Growth in Middle East
New Balance is prioritizing the Middle East for growth, according to Stuart Henwood, senior director for MEAI (Middle East, Africa and India). The Middle East region is now supported by a 90-store network and grew sales by 35 percent in 2025, outperforming other major markets.
EXEC: Asics Establishes Tech Lab in Japan
Asics announced the establishment of the Asics Technical Lab at its headquarters in Kobe, Japan, a new facility “dedicated to custom footwear for global elite athletes and rapid prototyping — enabling Asics to bring higher quality performance products to customers around the world, more quickly.”
EXEC: Adidas Shares Climb on Marathon Record
Shares of Adidas rose Monday on the Frankfurt Stock Exchange following Sabastian Sawe’s win of the London Marathon wearing the brand’s Adizero Adios Pro Evo 3 shoes in a record time of 1:59:30, breaking the event’s two-hour barrier.
EXEC: Nike To Lay Off 172 Workers at Missouri Air-Sole Facility
Nike Inc. plans to permanently lay off 172 workers at its Air Manufacturing Innovation facility in St. Charles County in Missouri this summer, according to a state filing. The filing comes as Nike last week announced plans to lay off about 1,400 employees, largely around operations and technology.
EXEC: BSN Sports Confirms Sports Endeavors and Lax.com Acquisition
BSN Sports, a division of Varsity Brands, is confirming that it has acquired Sports Endeavors, the operator of Soccer.com, and lacrosse retailer Lax.com. With the acquisitions, BSN said it’s “expanding soccer and lacrosse gear, e-commerce, and team solutions with leading brands and national scale.”
Report: JD Sports Chair Exit Followed Failed Attempt to Oust CEO
JD Sports Chair Andy Higginson reportedly decided to exit the business following a failed attempt to oust CEO Régis Schultz, according to the Financial Times.
EXEC: Spain’s VivaGym Acquires Synergym
VivaGym, based in Malaga, Spain and owned by U.S.-based private equity firm Providence Equity Partners, has agreed to acquire Synergym International in a deal that will give it more than 450 fitness clubs in Spain and Portugal.
EXEC: Xtep Opens Six Stores in Malaysia
Xtep International Holdings, Ltd. opened six new stores in key Malaysian cities, advancing its aggressive Southeast Asia expansion strategy. The six new stores are strategically located in Kuala Lumpur, Penang, Johor Bahru, Kuantan, and Shah Alam.
EXEC: Raymond James Upgrades On Holding, Downgrades Deckers Ahead of Earnings
Analysts at Raymond James upgraded On Holding based on the stock’s recent pullback and its continued belief in On’s growth potential. The investment firm lowered its rating on Deckers Outdoor despite remaining “bullish” on the stock.
EXEC: Lululemon’s Shares Slide as CEO Pick Gets Mixed Reviews
Shares of Lululemon Athletica, Inc. dropped about 13 percent on Thursday on news of the appointment of former Nike veteran Heidi O’Neill as CEO. Analysts were mixed on the surprise choice, with some lamenting her lack of experience as a CEO and with turnarounds. Some felt Nike’s recent struggles have stained her reputation. The fact that O’Neill’s start date isn’t until September will also delay her making any impact.
EXEC: Ahead, Craft, and Cutter & Buck Parent Delivers Solid Q1 Growth in Tough FX Rate Environment
The Swedish owner of Ahead, Auclair, Cotton Classics, Craft, Cutter & Buck, Seger, and Tenson AB, said it reported growth in the first quarter despite generally weak market conditions in many countries. The integration of Cotton Classics is said to be progressing according to plan.
EXEC: Li Ning Posts MSD Gain in China Retail Sales in First Quarter
Li Ning Company, Ltd. reported that retail sell-through for the first quarter at Li-Ning POS, excluding Li-Ning Young, increased by mid-single digits year-over-year, marking a recovery following recent declines.
EXEC: WFSGI Elects Nike and New Balance Execs Board Co-Chairs
The World Federation of the Sporting Goods Industry (WFSGI) elected Dave Wheeler, chief operating officer of New Balance, and Jorge Casimiro, chief public affairs and public policy officer at Nike, as co-chairs of its new Board, marking first time two American brands have led the federation together.
