Freemotion Fitness, the commercial equipment arm of iFIT, appointed Adam Guier as vice president of sales for North America.
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American Outdoor Brands Launches Stock Buyback Program
American Outdoor Brands, Inc.’s Board of Directors approved repurchasing up to $10 million of the company’s outstanding common stock.
Nike Misses Revenue Estimates on Weak North America; Profits Beat
Nike, Inc. reported profits slipped 1 percent in the fiscal first quarter ended August 31. Sales grew 2 percent on a currency-neutral basis as double-digit gains in China helped offset a 1 percent decline in North America. Earnings came in well above analyst targets but sales were slightly below.
Salomon Hires President of Salomon Americas
Salomon hired Steve Doolan as president of Salomon Americas, effective October 23, leading the business from its regional headquarters in Ogden, UT.
SFIA Study Finds Americans Continuing Pandemic-Discovered Fitness Routines
The Sports & Fitness Industry Association’s 2023 Tracking The Fitness Movement Report identified that participation in fitness activities grew 5.3 percent, or by 10.4 million people, since 2017. Total fitness participants rose by 800,000 year-over-year in 2022 to 205.8 million, hitting a high of 67.4 percent, surpassing the 67.3 percent rate in 2019 and 2021.
American Outdoor Brands Secures Patent Settlement Agreement
American Outdoor Brands, Inc. announced it has secured a settlement with The Allen Company, Inc. related to Allen’s infringement of AOB’s patent rights.
Shimano North America Recalls Approximately 760,000 Cranksets
The recall affects certain 11-Speed Bonded Hollowtech II Road Cranksets as they could separate and break, posing a crash hazard to consumers.
Volumental Expands in North America; Appoints Hollowell as GM
Volumental, the fit technology company based in Stockholm, appointed current CMO and seasoned footwear industry veteran Brent Hollowell as general manager for its North American operations to accelerate growth in the region.
Outdoor Writers Association of America Honors Key Members
OWAA selected six association members as recipients of the organization’s most prestigious awards. The honorees were announced at the OWAA’s annual conference in Gulf Shores, AL.
EXEC: American Outdoor Brands Execs Detail Fiscal First Quarter Progress
The recent issues with inventory and reduced consumer demand in the broader firearms market at retail had an effect of the company’s Shooting Sports segment, but strong growth in the company’s Outdoor Lifestyle segment offset the decline in the shooting accessories business.
American Outdoor Brands Narrows Fiscal Q1 Net Loss on Flattish Sales
First quarter net sales were $43.4 million for the period ended July 31, a decrease of 0.5 percent versus the comp quarter last year. Traditional channel net sales increased 8.4 percent, while e-commerce net sales declined 10.6 percent.
EXEC: Amer Sports Files Confidentially to Go Public
Amer Sports, the parent of Salomon, Wilson, Arc’teryx and other sports brands, filed confidentially for a U.S. initial public offering that could value the group as high as $10 billion. The offering would come as Amer Sports’ business has seen accelerated growth, driven by Arc’teryx and Salomon and growth in China.
Nexgen Packaging Appoints VP of Sales, Americas
Nexgen Packaging, a packaging provider for the retail, apparel and footwear industries, hired Kevin DeSpain as senior vice president of sales for the Americas. He comes from Zebra Technologies.
Study: American Malls Making a Comeback Post-Pandemic
A study conducted by Coresight Research found that traffic at U.S. shopping malls has recovered and surpassed pre-COVID levels, supported by the “halo effect” created by a brand’s online and offline presence in a mall, brand synergy in malls and omnichannel retail investments.
EXEC: Lululemon Claims North America Market Share Gain Despite Slower Q2 Growth
While its outsized growth in China continues to get much of the media attention, Lululemon Athletica, Inc. churned out sales gains of 11 percent in the second quarter in North America, slowing from the 17 percent growth in the first quarter.
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