Under Armour Partners With Long Island University
The Long Island University Department of Athletics announced that its unified athletics teams will enter into a five-year partnership with Under Armour as its official apparel supplier beginning in the 2019-20 academic year. The partnership will be executed by BSN Sports.
Decathlon To Open Ottawa Location
Decathlon will open a store in Ottawa in the fall for its fourth location in Canada, according to retail-insider.com.
Brooks Running Opens Distribution Center In Indiana
Brooks Running Company announced the opening of a distribution center to support faster delivery. Based in Whitestown, IN, the facility serves as the Brooks North American distribution center and will employ more than 130 people by 2023.
Adidas Continues Hot Streak In Q1
Adidas AG reported first-quarter earnings that topped Wall Street’s targets as the company benefited from strong growth in China and online as well as significantly higher gross margins. More encouragingly, strong spring launches are expected to set the stage for accelerated growth in the second half and the supply-chain issues slowing growth in North America are expected to be resolved by the end of the year.
Adidas’ Q1 Earnings Climb 17 Percent
Adidas reported a 17 percent rise in first-quarter net profit as double-digit growth in China compensated for weakness in Europe and North America. E-commerce revenue gained 40 percent
Genesco Announces New Stock Repurchase Authorization
Genesco Inc. announced its board of directors has authorized it to repurchase up to $100 million of the company’s common stock.
Under Armour Believes North America Has Stabilized
Under Armour’s earnings and sales that topped analysts’ expectations due to healthy overseas growth and efficiencies gained from its extensive restructuring efforts and stringent inventory controls. The most encouraging sign, however, was that the North America region is stabilizing.
Gildan Activewear Q1 Dragged Down By Lower Imprintables Restocking
Gildan Activewear reported a steep decline in earnings in the first quarter, as expected, as sales were impacted by lower levels of distributor restocking. Higher raw material and other input cost pressures also pressured margins.
K-Swiss Sold To Xtep International
China-based sports brand Xtep International Holdings Ltd announced plans to acquire E-Land Footwear USA Holdings Inc., the parent of K-Swiss, for $260 million in an all-cash deal, according to Reuters.
Under Armour Swings to Profit, Boosts 2019 Outlook
Under Armour Inc reported stronger-than-expected first quarter earnings while boosting its full-year earnings guidance, as solid overseas demand offset a fall in North American sales.
Gildan Activewear’s Q1 Earnings Plunge
Gildan Activewear reported net earnings dropped 66.6 percent in the first quarter on a decline of 3.6 percent in revenues. The company said results were in line with expectations and it maintained its adjusted earnings guidance for the year.
Modell’s Appoints CFO
Modell’s Sporting Goods has officially hired David Stern to the role of executive vice president and chief financial officer. Stern will play an intricate role in strategic planning and growth opportunities for Modell’s while overseeing the finance and information technology departments.
Big 5 Delivers Robust First Quarter But Weak Outlook
Big 5 Sporting Goods Corp. delivered a strong first quarter as cold weather boosted its winter business. But the California-based sporting goods chain also warned of a loss in the current quarter due to a later Easter this year and also warned that overall sales appear soft.
Adidas Partners With Little League Baseball And Softball
Little League Baseball & Softball and Adidas announced a multi-year partnership in which the Portland, OR-based company will be Official Sponsor & Supplier of uniform, footwear & coaches apparel. Adidas replaces Russell Athletic.
Puma Hires New SVP, Wholesale, North America
Puma appointed John Miller as senior vice president, wholesale for Puma North America.
