Suunto Unveils Plans for U.S. Direct Distribution
Suunto has implemented a new system to directly distribute its products to U.S. retailers, one of the Finnish company’s key initiatives in expanding its business in North America.
EXEC: Hydro Flask and Osprey on Divergent Paths in Fiscal Q2
Osprey reportedly surpassed expectations for the third straight quarter with help from improving travel demand, but Hydro Flask continued to be pressured by a shift in consumer preference from insulated bottles to tumblers.
EXEC: U.K. Retailers Facing Rising Retail Crime Demand Government Action
The 2023 BRC Crime Survey showed incidents of violence and abuse towards retail workers had almost doubled from pre-pandemic levels to 867 incidents every day in 2021/22. Top executives at JD Sports were signatories to the demand letter.
On Plans to Double Sales and Reach 60 Percent Gross Margin by 2026
The company plans to grow 2026 net sales to at least CHF3.55 billion, or approximately $3.95 billion at the average September 2023 conversion rate, reflecting a CAGR of over 26 percent based on its 2023 forecast.
Swag Golf Raises $10 Million in Funding Round
Swag Golf, a golf accessory, equipment and apparel company based in Northbrook, Il, closed a $10 million growth round led by Verance Capital, a New York-based growth investment firm focused on sports and entertainment.
EXEC: JLL Holiday Survey Sees Experiences Weighing on Traditional Gift Spend
In the JLL 2023 Holiday Shopping Survey Report consumers are poised to increase spending on entertainment and experiences during the holiday season but at the expense of the amount they would have spent on gift giving. The survey found spending on physical goods to decline 13.8 percent.
Gunpowder, Inc. Adds Three Hires in Strategic Move
The company noted that the hire of Josh Ward, Michelle Gandola and Alex Gaziano in the third quarter of 2023, reflected the Wisconsin-based agency’s “commitment to strengthening its public relations and digital marketing capabilities.”
Nordstrom Plans Another Texas Rack Store
With the addition of this new location, two stores opening this fall in Denton and Allen, and the recently-opened location in San Antonio, Nordstrom will operate 22 Nordstrom Rack stores and eight Nordstrom stores in Texas.
Le Coq Sportif Posts Wider H1 Loss on Weaker Footwear Sales
Growth in the brand’s apparel and accessories businesses wwas offset by declines in footwear for the six-month period ended June 30.
Academy Sports + Outdoors Opens Second VA Store
The 77,000-square-foot space in Fredericksburg, VA marks the sixth store Academy has opened in 2023 on its was to its goal of opening 120 to 140 new stores by the end of 2027.
Wahoo Fitness to Close RGT Cycling Virtual Cycling App
Wahoo Fitness announced plans to close its virtual cycling app RGT, the company acquired in April 2022, to focus on its “structured training content.”
Fanatics Inks CLC Deal to Sell Licensed U.S. College Gear Worldwide
The company signed a long-term agreement with U.S. collegiate licensing company CLC to sell licensed fan gear from U.S. colleges to international college sports enthusiasts through its online sites.
Future Motion Recalls Electric Skateboards After Four Deaths
Future Motion, Inc., the manufacturer of Onewheel electric skateboards, issued a recall of 300,000 skateboards in tandem with the U.S. Consumer Product Safety Commission (CPSC) after a series of accidents and four reported deaths.
Freemotion Fitness Appoints VP Sales for North America
Freemotion Fitness, the commercial equipment arm of iFIT, appointed Adam Guier as vice president of sales for North America.
Under Armour to Open First Store in Northern Ireland
Under Armour is opening its first store in Northern Ireland in November with a 2,600-square-foot location at The Boulevard in Banbridge.
