Sports Direct Burned By Outside Investments
While underlying earnings are benefiting from its “Elevation” efforts to upgrade its stores, Sports Direct reported that its U.S. business, consisting of Bob’s Stores and Eastern Mountain Sports, showed loss in its fiscal year ended April 29 and a number of other investments aren’t paying off.
Adidas Downgraded On Heightened Competition
Wells Fargo Securities downgraded shares of Adidas due to renewed growth in North America at Nike, continuing explosive growth at Vans and some lackluster results from the launch of new Adidas platforms.
La Sportiva Appoints Director Of Sales
La Sportiva announced the hiring of Wes Green as director of sales. Replacing long time sales leader Mark Day, who has retired, Green joins the brand from Big Agnes.
Hoka, Sanuk And Teva Announce Partnership With Camber Outdoors
Hoka One One, Sanuk and Teva , divisions of Deckers Brands, announced they recently joined Camber Outdoors as corporate partners.
Allbirds Appoints Erick Haskell President Of International
Allbirds, the San Francisco-based shoe brand focused on sustainable materials, announced that Erick Haskell has joined as president of international. He was managing director of Asia Pacific at Under Armour.
EMS/Bob’s Logs Loss For Sports Direct In Fiscal 2018
Sports Direct Inc. said Bob’s Stores and Eastern Mountain Sports, acquired in bankruptcy proceedings in May 2017, showed £9.2 million ($11.9 mm) in trading losses in the company’s fiscal year ended April 29.
Amazon Prime Day 2018 Manages Another Record
Amazon said that sales across its Prime Day event surpassed Cyber Monday, Black Friday and the previous Prime Day, when comparing 36-hour periods, making this once again the biggest shopping event in Amazon history.
Wolverine World Wide’s Debt Ratings Upgraded
“The upgrade reflects our expectation for continued improvement in operating performance and credit metrics over the next 12-18 months,” said Moody’s Lead Apparel Analyst Mike Zuccaro.
Dwyane Wade Signs ‘Lifetime’ Deal With Li-Ning
Dwyane Wade has signed a lifetime deal with the Chinese sports brand Li-Ning according to the Associated Press.
SFIA Webinar Stresses Urgency In Applying For Tariff Exclusions
On a webinar Wednesday, David Cohen, an international trade expert with Sandler, Travis & Rosenberg and Bill Sells, SVP government relations & public affairs at the SFIA, discussed the urgency for affected sporting goods companies to seek exclusions to avoid the latest round of tariffs on Chinese imports. The first deadline in the exclusion process is less than 10 days away.
Deloitte Finds More BTS Shoppers Decide To Purchase In-Store Than Online
This year’s Deloitte’s “2018 Back-to-College Survey” shows that mobile and online shopping is hitting a plateau amongst parents.
The North Face To Celebrate Global Climbing Day
The North Face said the company is again partnering with dozens of climbing gyms and facilities worldwide to celebrate Global Climbing Day (August 18, 2018) and offering climbing opportunities in cities in the U.S., China, Europe, Canada and Mexico.
Did Adidas Or Nike Win The World Cup?
Sponsoring the two finalists at the World Cup was a sign to some observers that Nike had outperformed Adidas in driving brand awareness, and likely sales, from summer’s biggest sporting event. But both brands appear to have benefited.
StreetTrend Acquires P448
U.S.-based footwear holding company StreetTrend LLC and Italian based Investment firm Panda srl. announced the acquisition of a majority interest in the luxury Italian sneaker and footwear brand P448.
DSW Completes Rollout Of DSW Kids
DSW announced the completion of the company’s kids program rollout in time for the back-to-school season.
