EXEC: Anta Completes Deal for Largest Stake in Puma SE
ICSC Survey Sees Consumers Focusing on Value and Experiences this Holiday Season
EXEC: Nike, Inc. Faces More Share Price Target Cuts and Another Downgrade
EXEC: Nike Details Turnaround Tactics for Sportswear, China, Jordan
EXEC: Nike to See More Cuts with New “Pace” Restructuring Program
SGB Update
Planet Fitness Operators in Texas Sued for Illegal Videotaping Incident
The claims in the lawsuit include negligence, gross negligence and invasion of privacy. The plaintiff, who alleges she was videotaped nude inside a tanning room, is seeking more than $1 million in monetary relief, including compensatory and punitive damages, and requests a jury trial.
Topgolf Breaks Ground on New San Joaquin Valley Location in California
The new two-level location in Madera, California is slated to be the first major tenant for the Central California campus of Valley Children’s Hospital’s new planned mixed-use development.
Fleet Feet Appoints Jason Jabaut President, Expands Exec Team
Fleet Feet officially named Jason Jabaut, a 20-year veteran of the running store franchisor, as president while also announcing several promotions and new hires within tech areas to build out its leadership team. As president, Jabaut will lead marketing & digital, vendor management and franchise operations.
ICSC Survey Sees Consumers Focusing on Value and Experiences this Holiday Season
The trade association human experience remains a core part of holiday shopping, and retailers that transform a simple errand into an outing or a memory are most likely to capture consumer dollars this season and beyond. Growth in sales is forecast between 4.3 percent and 4.9 percent this year.
ONDO Acquires Hong Kong’s Champion System
ONDO, best known for its signature No Show Socks, has acquired Champion System, the maker of custom apparel for cycling, triathlon, running and team sports. The deal is ONDO’s first acquisition and represents the company’s first step toward building a broader portfolio of performance brands.
SGB Executive
EXEC: Lululemon Overhauls Leadership Team Structure
Lululemon Athletica Inc. appointed Maggie Gauger, formerly at Athleta, as president and chief product officer, and Joseph Godsey, formerly at Walmart Canada, as chief operating officer, as part of a rebuild of its leadership team. Nikki Neuburger, chief brand & product activation officer, and Ted Dagnese, chief supply chain officer, will leave the company to pursue other opportunities. Searches are also underway for a chief brand officer, chief communications officer, chief technology officer, and chief strategy officer.
EXEC: Anta Completes Deal for Largest Stake in Puma SE
Anta Sports completed its acquisition of a 29.06 percent stake in Puma SE from Artémis SAS, the investment company of the Pinault family, for €1,5 billion ($1.68 bn) in cash. Puma said in a statement that the brand “will continue to operate as an independently managed company. Anta Sports has expressed its full respect for Puma’s sports heritage, distinctive brand identity and corporate culture as well as its independent governance and brand autonomy.”
EXEC: BCG Study Identifies Massive “Wellness” Opportunity for Activewear
A new study from Boston Consulting Group (BCG) finds growth in the activewear industry is slowing but concludes athletic apparel and footwear brands have sizeable, untapped opportunities to extend their reach to the “booming” wellness economy, where consumers are spending more on nutrition, weight loss, fitness experiences, wearables, recovery, and wellness services.
EXEC: Nike, Inc. Faces More Share Price Target Cuts and Another Downgrade
The company earned one downgrade and a multitude of price cuts and downward EPS revisions following its fiscal first-quarter report that saw sales come in lower than expected and guidance come in well below analyst targets. Most analysts don’t expect a positive sales inflection until fiscal year 2028 or calendar year 2028 at the earliest.
EXEC: Sports Direct Parent Frasers Group Acquires Minority Stake in Under Armour
UK-based Frasers Group, led by CEO Michael Murray and majority owned by his father-in-law, retail takeover king Mike Ashley, has a reputation for buying meaningful stakes in major sportswear and fashion brands, particularly those facing near-term market headwinds, as a speculative investment.
