EXEC: Nike Retains Top Spot as Most Valuable Global Apparel Brand
Nike ranked as the world’s most valuable apparel brand for the ninth consecutive year, according to Brand Finance’s 2023 Annual Apparel 50 Report. Other brands in the active lifestyle space that made the Top 50 included Adidas, at #5; Lululemon, #16; Puma, #19; Anta, #26; Under Armour, #27; The North Face, #28; Moncler, #29; Skechers, #32; Fila, #34; Li Ning, #42; and New Balance, #50.
Spartan Race Acquires OCR World Championships
Spartan Race, the obstacle course racing (OCR) organization, announced the acquisition of the Obstacle Course Racing World Championships (OCRWC).
Report: Wearables Bounce Back with 8.5 Percent Growth in Second Quarter
Global shipments for wearable devices returned to growth in the second quarter of 2023 reversing two quarters of decline, according to new data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker.
Garmin Completes Acquisition of JL Audio
Garmin, Ltd. completed the acquisition of JL Audio, a privately-held U.S. company that designs and manufactures audio solutions for marine, aftermarket automotive, powersports, home, and RV customers.
Mastercard: U.S. Holiday Retail Sales Expected to Grow 3.7 Percent
Mastercard SpendingPulse said sales are expected to rise 6.7 percent online and 2.9 in-store for the period November 1 through December 24, with the biggest gain iexpected to come in electronics with a 6 percent increase.
Authentic Brands’ Debt Ratings Upgraded by Moody’s
Moody’s Investors Service upgraded the debt ratings of Authentic Brands Group to reflect the conglomerate’s “solid” operating performance, increasing scale benefits and improving debt leverage.
EXEC: HSBC is Bullish on Adidas, Lululemon and Puma; Still Holds on Nike
In a bullish report, HSBC said that despite tough conditions expected to continue in the U.S., sales growth and margins should improve for the global sporting goods sector following its “post-pandemic hangover.” Beneficiaries include Adidas, Lululemon and Puma, all rated “Buys” by HSBC while Nike remains at “Hold” due to its U.S. exposure.
HanesBrands Looking at Strategic Alternatives for Global Champion Business
The Board said it would consider a broad range of alternatives to maximize shareholder value, including, among others, a potential sale or other strategic transaction, including continuing to operate the business as part of HanesBrands.
Academy Sports + Outdoors Opens First Store in Kyle, TX
The new location marks the fifth store Academy has opened in 2023 as Academy looks to achieve its goal of opening a total of 120 to 140 new stores by the end of 2027.
NRF to Present Dick’s SG Chairman Ed Stack with The Visionary Award
Presented annually to an outstanding retail leader, the 2023 NRF Visionary Award honors Stack for his leadership of the largest omnichannel sporting goods retailer in the U.S., guiding the company’s evolution from two stores in upstate New York to a Fortune 500 company.
EXEC: Planet Fitness Shares Plummet After CEO Exit, Multiple Downgrades
Shares of Planet Fitness were down again on Monday after crashing on Friday following the exit of its long-time CEO, Chris Rondeau. The surprise departure led to a number of analyst downgrades and downward price adjustments.
Deloitte Study Explores Link Between Women’s Sports and Career Success
A new survey released from Deloitte found a wide majority of women who played sports as kids said it was important to their career success.
Academy Sports Principal Accounting Officer to Depart
Academy Sports and Outdoors, Inc. said in a regulatory filing that Heather Davis, SVP, accounting, treasury and tax (principal accounting officer) is leaving the company to pursue a new opportunity, effective September 29.
Orangetheory Fitness Franchisee to Open 14th NJ Location
Empire Portfolio Group an area developer and franchisee of Orangetheory Fitness will open a new studio in Warren, NJ. Empire said this significant expansion “solidifies Empire’s presence in New Jersey,” becoming their 14th location in the state.
Macy’s, Inc. to Hire for More Than 38,000 Seasonal Positions
Macy’s, Inc. reported plans to hire more than 38,000 full- and part-time seasonal workers for the upcoming holiday season at its Macy’s, Bloomingdale’s and Bluemercury stores and distribution centers, consistent with open positions in 2022.
