EXEC: Hoka Parent and Nike Inc. Stocks Downgraded on Potential GLP-1 Adoption Effect
NRF: Retail Sales Climb In April Despite Inflation Pressures
EXEC: Nike’s Brazilian Partner Jumps on Wholesale Gains and World Cup Jersey Sales
EXEC: Asics Delivers 30 Percent Growth in Q1, U.S. Sales Expand 19 Percent
EXEC: Yonex Attributes New Record Highs to “Solid Conditions in the Sports Market”
SGB Update
Newton Golf’s Q1 Loss Expands on Growth Investments
Newton Golf Company, Inc. reported revenue in the first quarter totaled $1.0 million, down 18 percent from $1.2 million in the prior-year quarter due to temporarily reduced manufacturing capacity and delayed order fulfillment associated with operational initiatives implemented during the quarter to support future growth opportunities.
Nobull Hires Chief Marketing Officer and Chief Commercial Officer
Allison Giorgio was most recently chief marketing officer at Wellness Pet Company. Prior to that, she spent more than 17 years at Puma. Joe Martin comes to the company from Fossil Group, where he served most recently as chief commercial officer. Prior to that he spent more than 10 years at Adidas.
Rally House Acquires Penn State’s Lion & Cub Store & Nittany Outlet
Lion & Cub, a Penn State retail store located in downtown State College, Pennsylvania, along with its online business, Nittany Outlet, has served Penn State fans since 1975 and will continue operations as Rally House State College.
Club Champion Opens Fitting Studio in Boston
Club Champion announced the grand opening of its newest studio in Boston, located at 125 High Street in the city’s Financial District.
Fanatics Commerce Appoints Chief Marketing Officer
Fanatics Commerce appointed Jamie Gersch, formerly at Rothy’s and Old Navy, as chief marketing officer, effective immediately.
SGB Executive
EXEC: Hoka Parent and Nike Inc. Stocks Downgraded on Potential GLP-1 Adoption Effect
From a category perspective, the Wells Fargo analyst sees footwear and athletic apparel as “underperformers” within the movement toward GLP-1 adoption. As a result, he said he has become “more negative” on footwear and athletic stocks. He downgraded Nike Inc. to Equal Weight from Overweight and Deckers Outdoor to Underweight from Equal Weight.
EXEC: Canada’s SportChek Sees Comps Boosted by World Cup Fever and Hockey’s Start
Canadian Tire Corporation, Ltd. reported SportChek’s comparable sales rose 3.3 percent in the first quarter. On an analyst call, Greg Hicks, president and CEO, Canadian Tire Corporation said of SportChek, “Fan gear was a highlight, with strong demand from the early lead up to the World Cup as well as the Olympics. While hard goods were impacted by lower sales in skiing and snowboarding, hockey performed well.”
EXEC: Nike’s Brazilian Partner Jumps on Wholesale Gains and World Cup Jersey Sales
The Fisia (Nike) business unit at Grupo SBF delivered “robust” net revenue expansion year-over-year in Q1, increasing 26.1 percent to R$1.0 billion in revenue, sustained by expansion across all channels, highlighted by the continuous evolution of the Wholesale channel and the advancement of DTC channels.
EXEC: Leatt Corp Sets Stock Buyback Program
Leatt Corp.’s Board of Directors authorized a new share repurchase program for up to $419,410 of the company’s outstanding common stock.
EXEC: Under Armour Faces Analyst Downgrade, Stock Price Cuts Following Weak Forecast
Under Armour received one downgrade and several downward price adjustments from Wall Street after providing a forecast for sales and earnings for its current fiscal year below targets due to a stalled North American recovery. A few analysts were encouraged by signs of further sales stabilization.
