EXEC: Dick’s SG Joins Other Retailers with Lower Seasonal Workers Plans for Holiday
Dick’s Sporting Goods followed Macy’s in reducing its planned holiday hiring plans this year versus 2022. The downbeat hiring targets come amid forecasts of lowered seasonal hiring overall this year due to higher labor costs and expectations of softer holiday selling.
EXEC: Superfeet’s New CEO Discusses the Untapped Insoles Opportunity
In June, Trip Randall, a former long-time Nike executive, became the third CEO in Superfeet‘s 46-year history. He talked with SGB Executive about the outsized growth potential still ahead for Superfeet as well as for the overall insoles category.
Acushnet Holdings Corp. Announces Senior Notes Offering
Acushnet Holdings Corp. announced that its wholly-owned subsidiary, Acushnet Company, intends to raise $350,000,000 through an offering of senior notes due 2028.
Surf Hardware International Relocates Global Headquarters
Surf Hardware International relocated its global headquarters to Australia’s Coffs Harbour and is trading under the name of Gowings Pacific Trader.
Peloton Hires SVP, Apparel & Accessories
Peloton hired Cédric Fletcher, a former Nike and Under Armour merchant, as SVP of apparel and accessories.
S&P Raises Authentic Brands Debt Ratings on Improved Performance
S&P Global Ratings raised the debt rating of Authentic Brands Group, LLC after the company outperformed its previous forecast for its sizable 2022 acquisition of Reebok and recently-closed acquisition of Boardriders, Inc. S&P said the company funded the Boardriders acquisition with less debt than previously expected due to new equity from its financial sponsors.
EXEC: Jefferies Downgrades Nike, Foot Locker on Slowdown Concerns
Analysts at Jefferies downgraded Nike, Foot Locker and Urban Outfitters as survey data shows the resumption of payments on student loans may force families to limit their spending on apparel and sneakers. Nike’s sales are also expected to be pressured by lean inventory disciplines across wholesale channels and macro headwinds facing China.
Dave Haggerty Elected to Another Term as ITF President
Haggerty was re-elected as president of the International Tennis Federation at the 2023 ITF Annual General Meeting in Cancun, Mexico, on September 24, receiving 73 percent of the votes. He will serve a four-year term from 2023/27.
Nike Extends Refurbished Program To Nike.com
Nike extended its Refurbished program to its website, offering discounts on refurbished sneakers. The company introduced the program at select Nike and Nike Factory Outlet stores in April 2021 to support its broader Move to Zero climate change initiative.
M&S | The Sports Edit Adds Activewear Brands To Growing Platform
Marks & Spencer’s M&S | The Sports Edit is adding Adidas, Columbia, Sweaty Betty, Regatta and Sorel to its dedicated sportswear platform on M&S.com as part of its continued push into the sportswear category.
New Balance Opens Concept Store in London
New Balance opened an experiential concept store in London’s Westfield Stratford City Mall, targeting younger consumers. The store is the company’s third globally. The first opened in Guangzhou, China, in 2022, and the second in February 2023 at 124 Newbury Street in Boston.
Adidas Sues LIV Golf For Trademark Infringement Over Logo
Adidas filed a lawsuit against LIV Golf, the Saudi Arabian golf league, for trademark infringement, charging the ‘L’ in LIV’s logo looks too similar to its iconic ‘three stripes’ brand.
Report: August Golf Rounds Played Report Sees Weakening Growth
Golf Datatech reported that U.S. golf rounds played were up 0.1 percent year-over-year for August 2023 and increased 4.1 percent year-to-date, a clear moderation from the 3.2 percent increase GDT reported in July.
Life Time Opens First Bay Area Athletic Country Club
Life Time opened its newest luxury athletic country club, Life Time Walnut Creek, the first location in the San Francisco Bay Area and first to open in a shopping center-based location with Macerich.
Bain Forecasts Nominal U.S. Holiday Sales Gain
Bain & Company forecasted nominal U.S. retail sales to slow this holiday season, with the lowest growth rate since 2018. Unadjusted seasonal sales are expected to grow 3.0 percent year-over-year (YoY) in November and December, reaching nearly $915 billion, with 90 percent of the growth coming from non-store (e-commerce and mail-order) sales.
