SGB Executive Sports & Fitness
EXEC: Wolverine Worldwide Shares Fall 17 Percent as 2025 Forecast Disappoints
Fourth quarter revenue fell 5.8 percent year-over-year but rose 3.3 percent to $494.7 million when tallying the company’s ongoing business. The company posted big improvements in gross margin and operating margins in Q4, leading to a positive earnings result.
EXEC: Adidas Basketball Chief Eric Wise is Leaving the Company
Wise joined Adidas in 2016 as director of merchandising for Foot, Inc. He moved to LA in 2021 to head up a new office for Adidas focused on the company’s basketball business.
EXEC: Nike Inc. Launching Co-Branded NikeSkims Effort with Kim Kardashian
The co-branded effort to find a pathway to more women consumers runs counter to the company’s efforts to connect with core female athletes that were the clear focus in its Super Bowl LVIII advertising and recent comments from the company’s new CEO, Elliot Hall.
EXEC: Asics Sees 2024 Lifestyle Footwear Sales Surge 50+ Percent
The company’s SportStyle and Onitsuka Tiger categories each posted growth in excess of 50 percent year-over-year to nearly ¥100 billion each, while operating profits more than doubled for each category versus 2023. SportStyle sales grew 120 percent in the North America region.
EXEC: On Holding Gets Goldman Downgrade; Nike Sees Analyst Call for Patience
Last week, Nike got a downgrade on its shares from Citibank, and now On Holding is downgraded, which is a tough move for one of the hottest footwear brands in the active lifestyle market to get negative attention.
EXEC: Yonex Gets Racquet Sports Lift from Summer Olympics
The Japan-based racquet sports and golf equipment manufacturer reported results for the nine-month year-to-date (YTD) period that ended December 31, 2024, suggesting that the sports market received a boost from the Summer Olympics in Paris and other international tournaments and athletes’ success at that event.
EXEC: Titleist and Footjoy Parent Moving to S&P SmallCap 600 Index
Acushnet Holdings Corp. (NYSE: GOLF), parent of the Titleist and Footjoy golf brands, will replace Retail Opportunity Investments Corp. in the S&P SmallCap 600.
EXEC: Citi Downgrades Nike Shares, Cuts Price Target After Hill Meeting
Nike management indicated that Air Jordan and Air Force One will “still be large franchises” even after inventories are managed lower, but Dunks will “not be a relevant part” of the mix over time.
EXEC: Nordic SG Retailer XXL Sees Q4 Sales Decline
Norway-based sporting goods retailer XXL ASA said it delivered total operating revenue of NOK 7.2 billion in 2024 in a Nordic sporting goods market that persisted to be challenging. Fourth quarter sales declined 1.8 percent year-over-year.
EXEC: Mizuno Corp. Sees Modest Q3 Revenue Growth In Americas Region
Mizuno Corp. reported sales in the Americas region rose 1.2 percent in the third quarter and gained 6.6 percent in the nine-month YTD period. Consolidated global sales in the third quarter grew 4.3 percent to ¥55.8 billion
EXEC: Ahead, Craft, Cutter & Buck Parent Sees Q4 Sales Expand 3 Percent
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson AB, reported that Q4 growth was led by gains in the Sports & Leisure segment and the promo sales channel, with 3 percent growth in the U.S. region.
EXEC: Under Armour Cautious on North America’s Return to Growth
Under Armour, Inc. reported third-quarter results that exceeded guidance for the third straight quarter with the help of some recovery in North America. However, Under Armour CEO Kevin Plank declined to forecast a return to growth in the region, with the current priority of driving full-price sales.
EXEC: Mips AB Posts Strong Q4 Results on Helmet Rebound; Long-Term Goals Revised
The Swedish helmet technology provider said it saw a strong end to 2024 with solid growth in all categories and all geographies. The company posted sales of SEK 144 million in the fourth quarter, a 58 percent increase from SEK 91 million in Q4 2023.
EXEC: JD Group Appoints Jared Briskin as CEO of Hibbett
Hibbett was acquired by global active lifestyle retail behemoth JD Group in July 2024. Briskin, who had been serving as EVP of Merchandising at the time of the sale, was promoted to COO after the sale closed and added the President title shortly thereafter.
EXEC: Descente, Ltd. De-Lists Common Shares from the Tokyo Stock Exchange
The company called an extraordinary shareholders’ meeting for December 25, 2024, and offered a proposal regarding a share consolidation that was approved as proposed by the company’s shareholders. As a result, the company’s shares were delisted.
