Power Tee Names New Sales Director
Power Tee, the automated golf teeing system based in the U.K., named golf industry veteran William Gray as sales director.
Study: American Malls Making a Comeback Post-Pandemic
A study conducted by Coresight Research found that traffic at U.S. shopping malls has recovered and surpassed pre-COVID levels, supported by the “halo effect” created by a brand’s online and offline presence in a mall, brand synergy in malls and omnichannel retail investments.
Report: HS Sports Participation Continues Post-COVID Rebound
Participation in high school sports eclipsed 7.8 million in the 2022/23 school year, reflecting a sharp increase from the previous year as the National Federation of State High School Associations (NFHS) completed its High School Athletics Participation Survey for a second time after the pandemic interrupted its data collection.
Mizuno Adds 25-year Industry Product Vet to Leadership Team
The company added Chris Brewer to its leadership team to focus on the running category.
Authentic Closes on Acquisition of Boardriders
Authentic issued a quick statement late Friday morning that it had closed on the acquisition of street- and actions sports-lifestyle brands Quiksilver, Billabong, Roxy, RVCA, DC Shoes, Element, VonZipper, Honolua, and Boardriders.
EXEC: Tilly’s Execs Remain Cautious Despite Improving Q3 Trends
Comparable net sales, including both physical stores and e-commerce, decreased by 8.5 percent on top of the 16.5 percent decrease posted in the prior-year Q2 period. The retailer saw early Q3 comps down in the low- to mid-single digits.
VanMoof E-Bike Brand Acquired by McLaren Applied Subsidiary
Lavoie, the electric scooter unit of Formula One engineering and technology firm McLaren Applied, said it had agreed to acquire bankrupt Dutch e-bike maker VanMoof.
EXEC: Lululemon Claims North America Market Share Gain Despite Slower Q2 Growth
While its outsized growth in China continues to get much of the media attention, Lululemon Athletica, Inc. churned out sales gains of 11 percent in the second quarter in North America, slowing from the 17 percent growth in the first quarter.
Globe International CFO and Company Secretary to Depart at Year-End
Chief Financial Officer and Company Secretary Jessica Moelands, a 20-year company veteran, tendered her resignation from Globe International. Globe said Moelands will finish her employment with the company on December 31, 2023.
EXEC: Academy Sports’ Shares Jump On Upbeat Outlook
Shares of Academy Sports and Outdoors, Inc. closed up $4.63, or 9.3 percent, to $54.57 Thursday as second-quarter earnings topped analysts’ estimates and the retailer reiterated its guidance for the year. Academy officials said sales steadily improved throughout the second quarter as customers responded to its message around value and newness.
Lululemon’s Raises Outlook As Q2 Comps Jump 11 Percent
Lululemon Athletica, Inc. raised its guidance for the year as second-quarter results exceeded expectations. Earnings rose 21.6 percent on an adjusted basis in the quarter with revenues ahead 18 percent. Comparable sales increased 11 percent or 13 percent on a constant dollar basis.
EXEC: Symphony Holdings Posts Solid H1 as Brand Division Jumps 24 Percent
The Branding segment, which is comprised of the Skins and Pony businesses, sourcing, manufacturing and trading of healthcare products in Hong Kong and distribution of Sunseeker swimwear, posted a 24.2 percent YoY increase for the first half period. Still, the majority of revenues come from its malls leasing segment.
EoS Fitness Opens Phoenix, AZ Location
EoS Fitness, the nationwide gym chain founded in Arizona, reported that over 125-plus locations are open or scheduled to open, with its latest gym in Phoenix recently opening at 40,000 square feet.
Academy Sports’ Q2 Tops Wall Street Targets
Academy Sports and Outdoors, Inc. reported second-quarter earnings came in just ahead of analyst expectations. Same-store sales declined 7.5 percent in the quarter but improved throughout the quarter. Academy reiterated its sales guidance while raising its EPS outlook due to share repurchases.
Journeys Again the Culprit as Genesco Swings to Q2 Loss on Lower Sales
The overall 2 percent sales decline was driven by an 11 percent decrease at Journeys and a 7 percent decrease at Genesco Brands, partially offset by an increase of 21 percent at Schuh and an increase of 4 percent at Johnston & Murphy.
