Adidas unveiled its upgraded and expanded Adidas North America HQ in Portland, OR. Since the start of the project in 2018, nearly 220,000 square feet has been added, including three new buildings, a new gym, new cafes, additional parking and a sustainable soccer pitch.
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Alterra Mountain Company Announces CEO Transition
Alterra Mountain Company announced that Jared Smith, company president, will be promoted to CEO effective August 1, 2022. At that time, Rusty Gregory, the current CEO, will step back from day-to-day operations to become its board vice-chairman.
EXEC: Vista Outdoor Talks Up Growth Strategies At Investors Day
At its Investor Day held on May 23 at the New York Stock Exchange, Vista Outdoor officials conducted a deep dive into the growth potential of its Outdoor Products and Sporting Products segments and its plan to separate the businesses into two independent, publicly-traded companies.
Ebay To Open First Sneaker Store In Los Angeles
Ebay’s “Wear ‘Em Out” sneaker store is scheduled to open on Fairfax Avenue in Los Angeles this Memorial Day weekend. It is the e-tailer’s first retail store devoted to sneaker sales.
Five Iron Golf Tees To Open In Cleveland
Five Iron Golf signed a lease at 1101 Euclid Avenue in Euclid Grand, OH, occupying approximately 16,000 square feet of ground-floor retail space; this is its second location in Ohio and the seventh in the Midwest with three current Chicago locations and two more in development in Michigan.
EXEC: VF Corp. Celebrates Murray’s TNF Success, Seeks Same In Bailey’s Return To Vans
VF Corp. shares were up over two percent in trading overnight after the parent company for The North Face, Vans, Timberland, Altra, Dickies, and several other key outdoor and action sports brands missed fiscal 2022 Q4 estimates on both the top and bottom line. The Wall Street bump occurred as VFC came out with positive forecasts for its 2023 fiscal year.
Foot Locker Beats Earnings Targets In First Quarter
Foot Locker reported first-quarter results declined against challenging year-ago comparisons but earnings topped Wall Street estimates. Foot Locker now expects earnings and sales for the year to arrive at the upper end of revenue and earnings guidance.
EXEC: Canada Goose Predicts Robust Double-Digit Annual Growth
Canada Goose Holdings, Inc. delivered a bullish outlook for the current fiscal year after reporting a better-than-expected fiscal fourth quarter ended April 3. The gains in the quarter were led by North American retail.
VF Corp.’s Fourth Quarter Boosted by The North Face
VF Corp. reported sales rose 12 percent on a currency-neutral basis in the fiscal fourth quarter ended April 2 with sales ahead 24 percent for The North Face and 2 percent for Vans. Earnings per share were ahead 67 percent with both earnings and sales in line with Wall Street targets. For the current fiscal year, VF’s revenue is expected to climb at least 7 percent in constant dollars with low double-digit growth at The North Face and mid-single-digit growth at Vans.
Pelican International Acquires GSI Outdoors
Pelican International, Inc, has acquired a majority stake in GSI Outdoors. The acquisition is part of Pelican’s push to diversify its offering in the North American and international outdoor market.
United Wheels Appoints President And COO
United Wheels, Inc., the parent company of Huffy, Niner, Batch, VAAST, and Royce Union has appointed Bruno Maier as president and COO. Claude Jordan, CEO for four years, is retiring but will remain as a senior advisor during the transition.
Patrick Frisk To Step Down From Under Armour As President And CEO
Under Armour, Inc. announced that Patrik Frisk will step down as president and CEO and as a member of its Board of Directors effective June 1, 2022. The board has initiated an internal and external search for Frisk’s replacement. Colin Browne, Under Armour’s COO, has taken the helm as interim president and CEO effective June 1, 2022.
EXEC: On Delivers Blowout Q1 Despite Supply Chain Turmoil
On was able to circumvent supply chain snarls to report first-quarter results well ahead of Wall Street targets. The Swiss running brand hiked its sales guidance for the year, forecasting at least 44 percent growth.
Kappa Replaces Spyder As Outfitter Of U.S. Ski & Snowboard Team
Italian sportswear brand Kappa signed a multi-year sponsorship with U.S. Ski & Snowboard to be the official technical apparel partner of the U.S. Ski Team. Kappa replaces Spyder, which had the ski team’s apparel deal for the past 33 years.
April Sales Climb 8.2 Percent Year-Over-Year
The U.S. Census Bureau said overall retail sales in April were up 0.9 percent seasonally adjusted from March and up 8.2 percent year-over-year. That compared with increases of 1.4 percent month-over-month and 7.3 percent year-over-year in March.
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