Pocket Outdoor Media Appoints New CEO
Andrew Pemberton, a 20-year veteran of publishing and former executive of Panache Cyclewear, has been named chief executive officer of Pocket Outdoor Media, the holding company that publishes VeloNews, Triathlete, Women’s Running, Competitor and VeloPress books.
Tariff ‘Wild Card’ Threatens Retail Imports
With retail sales continuing to grow, imports at the nation’s major retail container ports are expected to remain strong this month after setting three new records this summer, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
JackRabbit Acquires Rhythm Running, To Open Two Stores
Back in expansion mode, JackRabbit announced the company has completed the acquisition of Nashville-based Rhythm Running. In addition, the company is opening two new stores in Houston, TX, and Tampa, FL.
The Path to $5 Billion: Vans Unveils Roadmap For Lofty Goal
The numbers that the Vans leadership presented at Wednesday morning’s investor meeting in Costa Mesa, CA, were staggering relative to the company’s current financial snapshot of $3 billion in annual revenue for fiscal 2018. The footwear and apparel brand expects to generate compounded annual growth rate (CAGR) of 10 percent to 12 percent each year over the next five years to reach $5 billion in annual revenue by 2023. Here’s how the company plans to do it.
What Would Anta’s Merger Mean For Amer Sports?
“What’s Anta Sports?” was among the questions heard from more than a few market observers after news arrived Tuesday that the Chinese sports powerhouse had made an all-cash offer to acquire Amer Sports. But Anta has spelled out the company’s ambitions to become a global superpower in sporting goods and is ideally-positioned to attack major growth opportunities in the company’s home market.
JBL Extends NBA Partnership
JBL renewed the company’s multi-year relationship with the NBA and expanded the company’s footprint among players and teams.
Macy’s To Hire 80,000 Seasonal Employees In 2018
Macy’s Inc. on Wednesday announced plans to hire approximately 80,000 seasonal colleagues for positions at the company’s Macy’s and Bloomingdale’s stores, call centers, distribution centers and online fulfillment centers nationwide for the 2018 holiday season. Macy’s anticipates a strong and successful holiday shopping season.
Nike Veteran Joins Curaleaf
Chris Melillo, who formerly served as senior director of stores North America for Nike Inc. and VP of stores for DTLR/Villa, has joined Curaleaf, a vertically integrated cannabis operator based in Wakefield, MA.
Vans Brand Targets $5 Billion In Revenue By 2023
Vans, owned by VF Corp, plan to grow revenue by $2 billion to reach $5 billion by fiscal year 2023, representing growth between 10 and 12 percent over the five-year period. VF officials will detail Vans’ growth plans at an investor meeting being held Wednesday at Vans’ Costa Mesa headquarters.
Sports Direct’s Chairman Keith Hellawell To Step Down
Sports Direct said Keith Hellawell plans to step down as chairman and as a director of the company, having served since November 2009. Senior Independent Non-Executive Director Simon Bentley has retired as a director.
Report: Adidas To Re-Up Naomi Osaka In Mega-Deal
Adidas is planning to sign a record-breaking endorsement deal with U.S. open champion Naomi Osaka, according to The Times.
JD Sports Sees Small Assist From Finish Line In Half, Tests Planned
JD Sports said its acquisition of The Finish Line in June resulted in a small contribution to both earnings and sales in the first half ended August 4. The U.K. sneaker retail giant said it planned to “test JD’s highly differentiated multichannel retail proposition in the United States with a small trial” while leveraging “JD’s recognised global market-leading standards” at Finish Line’s existing locations.
Nike And Foot Locker Upgraded On Nike’s Innovation Pipeline
Nike was upgraded to “Buy” from Canaccord Genuity while Foot Locker was upgraded to “Outperform” by Wells Fargo. Both upgrades were tied to successful recent launches and bright prospects for future ones from Nike. Canaccord Genuity analyst Camilo Lyon also called Nike’s controversial Colin Kaepernick “Just Do It” anniversary campaign a “stroke of genius.”
NRF Announces New Programming And Networking Opportunities At Shop.org
The National Retail Federation announced a series of new programs, guest events and networking opportunities at this week’s annual Shop.org conference, which will be held Tuesday through Friday in Las Vegas.
REI Co-op’s First Alabama Store Will Open In Huntsville In Fall 2019
REI Co-op is opening the company’s first location in the state of Alabama, bringing a wide assortment of quality gear and expertise for the region’s most popular outdoor activities to Huntsville in fall 2019.
