Report: Growing Participation Rates Supporting Outdoor Rec Sales and M&A
Capstone suggested that financial performance across the sector is expected to improve as firms work through excess inventories, limit promotion activity, and mitigate margin pressures.
Academy Sports’ Debt Ratings Raised by S&P
S&P Global Ratings raised Academy Sports And Outdoor Inc.’s debt rating because the retailer has sustained S&P’s adjusted leverage well below the 2x area despite modest EBITDA margin contraction.
QVC Forms Multi-Year Partnership with USA Pickleball
Through the agreement, the home shopping network gains exclusive broadcast rights to select USA Pickleball Golden Ticket Tournaments during the year and the Biofreeze USA Pickleball National Championships held in November.
REI to Close Again on Black Friday, Encourage ‘Nature Therapy’
REI Co-op will again close all stores, distribution centers, activity centers, call centers, and headquarters on Thanksgiving and Black Friday Outdoor and pay its employees to spend the day outside.
Dick’s SG to Hire Fewer Seasonal Workers This Year
The retailer plans to hire nearly 8,000 seasonal workers for this year’s holiday season, a step back from the 8,600 planned hires in 2023. A steady decline in employee turnover since 2021 led DKS to a decrease in the number of seasonal workers this year.
Report: Holiday Shopping Intentions Driven by Consumer Optimism, Quest for Value
This year’s household food and grocery costs will impact holiday shopping for 62 percent of consumers, but more holiday shoppers, 57 percent, feel positive about personal finances than in 2023.
Amazon Plans to Hire 250,000 Holiday Workers, Same As Last Year
Amazon aims to add 250,000 U.S. seasonal employees during the 2024 holiday season, matching its target number from 2023.
Fear Of God CEO to Lead Everlane
Alfred Chang, the CEO of luxury streetwear brand Fear of God, was appointed CEO of Everlane. The company was founded in 2010 by Michael Preysman and Jesse Farmer with the mission of selling clothing with transparent pricing.
EXEC: Post Earnings Call, Analysts See Slow Recovery for Nike
Shares of Nike, Inc. fell about 7 percent on October 2. SGB Media spoke with eleven Wall Street analysts to explore Nike’s turnaround prospects. Several remain bullish on Elliot Hill’s return as CEO; however, a return to healthy growth might only happen in calendar year 2026.
CCM Hockey Agrees to Acquisition by European PE Firm Altor
The Canadian equipment brand owned by Birch Hill Equity Partners agreed to be acquired by the Swedish private equity firm Altor. The transaction is expected to close by the end of 2024.
EXEC: Rip Curl and Oboz Parent Taps Former Nike Exec as New CEO
The parent company to the Rip Curl, Oboz and Kathmandu brands has named former Nike executive and current KMD Board member Brent Scrimshaw as its new group CEO. Michael Daly has given notice to the Board of his resignation.
Kizik Secures Japan and Canada Distribution
The hands-free footwear brand announced its expansion into Japan and Canada through strategic partnerships with Marubeni Consumer Brands Inc. and Kanner Corporation.
EXEC: Nike Signals Uphill Struggle as New CEO Settles In
On Nike’s first-quarter analyst call, Matt Friend, EVP and CFO, said Nike is finding success with some new products, particularly in running, and the hiring of Nike veteran Elliott Hill as CEO was enthusiastically received by Nike’s employees. However, he warned that business conditions worsened in the quarter with online traffic, retail sales across the marketplace and spring orders all coming in lighter than planned.
Foot Locker Partners to Expand into India
Foot Locker launched operations in India for the first time through licensing arrangements with Metro Brands Ltd operating Foot Locker physical stores and Nykaa Fashion operating the e-commerce business.
EXEC: U.S. Now Largest Region for JD Sports; Finish Line Banner to Retire
The parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail brands in the U.S. and JD and others worldwide saw revenue grow 5.2 percent to £5.03 billion in the first half, including £61 million from 10 days of Hibbett sales.
