Circana Creates Global Commercial Group as Tim Bush Plans Exit
The creation of a Global Commercial organization, which will encompass Circana’s global client verticals and solution groups, will be led by Jeremy Allen in the newly created role of chief commercial officer.
The Picklr Taps Former NFL QB to Open Midwest Pickleball Locations
Drew Brees will also become an owner of several facilities and act as the area developer of 30 Picklr franchises throughout Indiana, Ohio, and Michigan. An inductee of Purdue’s Intercollegiate Athletics Hall of Fame,
Pickleball Kingdom Expands into Washington State
Pickleball Kingdom is expanding into Seattle and Bellevue, WA, respectively, spearheaded by franchisee John Hyland.
Peloton Shares Down on Lower Outlook, Mixed Fiscal Q2 Results
Total revenue was down 6 percent to $743.6 million for the fiscal second quarter ended December 31, 2023. Connected Fitness segment revenue was $319.1 million, down 16 percent year-over-year. Subscription revenue was up 3 percent to $424.5 million for the period.
EXEC: Amer Sports IPO Comes Up Short; Some Cite China Concerns
Arc’teryx generated 43 percent of its overall revenues in Greater China in the nine-month YTD period in 2023, while the region only generated 5 percent of sales for Salomon and Wilson. Thirty-six Arc’teryx stores in China accounted for 16.7 percent of global brand revenues for the 2023 YTD period.
Pickleball Kingdom Expands into Austin, TX
The Austin franchisee is Jared Jolly, a seasoned entrepreneur. He has reportedly built multiple businesses in mobile communication, online stores and in the wholesale space.
Pvolve Expands Leadership Team with Two New Hires
Stacey Heald joins Pvolve as chief operating officer of franchise development, overseeing the business’ franchise strategy, operations, and P&L and Alexis McDowel joins the company as the first global VP of communications.
Safilo Group Posts Best Quarter of 2023 in Q4; Smith Optics Up on DTC Growth
The parent of Smith and the eyewear licensee for Carrera, Havaianas, Under Armour, and Fossil, reported preliminary unaudited net sales were €238.7 million in the 2023 fourth quarter, marking the best performance of the year.
EXEC: Adidas Tops Latest 2023 Guidance; Will Not Write-Off Most Yeezy Inventory
Adidas is reporting that 2023 currency-neutral revenues were flat versus the prior-year in reported euro terms, and sales were said to be down 5 percent to €21.43 billion in 2023, compared to €22.51 billion in 2022 in reported euro terms.
Walmart U.S. Now Sees 150 New Stores Over Next Five Years
The retailer is also finalizing construction plans on 12 new projects it intends to start this year, along with converting one of its smaller locations to a Walmart Supercenter.
Fanatics Commerce Appoints Three Key Executives
Stephen Dowling joins Fanatics Commerce in a new role as president, international. Valerie Love joins the company as chief people officer, and Justin Tsai joins in the newly created role of chief product officer.
McKinsey and WFSGI See Upbeat Execs in Sporting Goods 2024 Report
After a mixed 2023, sporting goods companies continue to face macroeconomic headwinds, winner-takes-all competition, and rising levels of physical inactivity around the world. Still, many executives say they are more optimistic than at any time over the past few years.
Tom Brady’s TB12 Nutrition Brand to Merge with Nobull
Nobull was purchased in 2023 by beverage veteran Mike Repole. The deal includes footwear, apparel and nutrition products previously housed under the TB12 and Brady brands. Brady becomes the second largest shareholder.
Gordon Brothers Will Sell Zulily Inventory & Fulfillment Center Assets
The company has been engaged to sell by private treaty over $85 million of inventory and the assets of two 775,000-square-foot fulfillment centers on behalf of Zulily ABC LLC.
Walmart Will Conduct 3:1 Stock Split
Shares to be issued in the stock split will be payable after market close on February 23, for shareholders of record at the close of business on February 22. Shareholders will receive a distribution of two additional shares of common stock for each share held.
