Kahtoola updates Low Profile Nanospikes
“Based on the feedback from our community, customers and athletes, we identified an opportunity to make a good thing even better,” said Danny Giovale, founder and owner of Kahtoola.
Target’s Q3 Profits Handily Top Guidance, Sales Drop
Target reported third-quarter earnings were well above guidance but same-store sales fell for the second consecutive quarter and are expected to decline in the fourth quarter amid continued declines in discretionary categories.
Fleet Feet CEO Joins Board of Girls on the Run International
Girls on the Run International, a nonprofit that “empowers young girls,” appointed Joey Pointer, CEO of Fleet Feet, to its board of directors.
EXEC: On Delivers Record Quarterly Results, Elevated Inventories Concerning
Swiss running brand On delivered its seventh consecutive record quarter in revenues and achieved its highest gross margin since its August-2022 IPO. However, shares closed down slightly on Tuesday due to concerns over elevated inventory levels and its ability to deliver growth to match On’s stock’s high multiple.
Nike Reshuffles Leadership in Design, Marketing and Technology
Nike, Inc. implemented a number of executive changes and additions, highlighted by John Hoke becoming chief innovation officer, Martin Lotti assuming the role of chief design officer, Nicole Hubbard Graham rejoining Nike as chief marketing officer, and Muge Erdirik Dogan joining Nike as chief technology officer.
K-Swiss Appoints Barney Waters as International Brand President
K-Swiss hired Barney Waters, its former brand president, as international brand president.
Cole Haan Opens 500th Store
Cole Haan opened its 500th store, marking its accelerated expansion since spinning off from Nike in 2012. The brand is sold in over 100 countries, up from 13 in 2013.
VF Corp.’s Corporate Affairs VP leaves to join Cox Enterprises
Cox Enterprises hired Craig Hodges, formerly the VP of corporate affairs and communications at VF Corp., as SVP of corporate affairs.
NSSRA Names New Chairman
The National Ski & Snowboard Retailers Association named Tom Fuerst of Pedigree Ski Shop in White Plains, NY, the new chairman of its Board of Directors. Fuerst’s family has been a part of the snow sports industry for over 60 years.
NRF and CNBC Develop New Retail Monitor; Report October Trends
The new Retail Monitor partnership reported that total October retail sales, excluding automobiles and gas, were down 0.08 percent from September and up 2.57 percent year-over-year (YoY).
On Third Quarter Sales Jump 46.5 Percent and Diluted EPS Triples
On’s DTC channel recorded growth of 54.6 percent to CHF 164.7 million when compared to Q3 2022, reflecting “the strength of the On brand and ongoing ambition for DTC to outgrow wholesale.” Wholesale channel sales increased 42.6 percent to CHF 315.7 million.
Fleet Feet Fort Myers Acquires Run Florida on McGregor
Fleet Feet Fort Myers owners Janene and Brian Urichko agreed to purchase Run Florida On McGregor from friend and owner John Rinkenbaugh, who will join Fleet Feet Fort Myers as an outfitter.
EXEC: Study Finds Team Sports Participation Trails Pre-Pandemic Level
According to the Aspen Institute’s recently released State of Play 2023 report, kids are trying sports about as much as they did before COVID-19, but they’re not playing as frequently.
Birkenstock’s Debt Ratings Upgraded
S&P Global Ratings raised its debt ratings on Birkenstock following debt repayments using proceeds from its recent initial public offering.
EXEC: Kamik CEO Talks 125 Years of Fighting Bad Weather
The Montreal-based boot maker is celebrating its 125th anniversary of protecting feet from wet, chilly, slushy, and icy conditions. CEO Gillian Meek talked with SGB Executive about the company’s roots, the benefits of Canadian manufacturing, the brand’s strength in kid’s boots, and more.
