True Fitness Resets Sales Organizational Structure
True Fitness announced several changes, effective immediately, to its dealer/distribution and direct sales teams, including hiring Dave Whitman as retail sales manager, Marshall Hansen as distribution director for North America, Kurt Parker as director of direct sales, Dean Bowrosen, senior distribution director for the East, and John Talley, senior distribution manager for the West.
EXEC: Gap Confident in Athleta’s Turnaround Prospects
Athleta’s same-store sales were down in the second quarter for the third quarter in a row but showed improvement sequentially with sales of performance bottoms accelerating. On its analyst call, Gap Inc. officials expressed confidence in the ability of Athleta’s new leadership team, led by former Alo Yoga’s president Chris Blakeslee, to guide the continued recovery.
Hibbett’s Q2 Profits Tumble Year-Over-Year, Top Wall Street’s Targets
Hibbett, Inc.’s second-quarter profits fell 55.9 percent but still topped analyst targets with some strength in footwear offsetting apparel weakness. The sporting goods chain reiterated its full-year outlook, bucking a trend that saw competitors, Dick’s Sporting Goods and Foot Locker, lower guidance this week.
Rhone Opens Store in Westport
Rhone, the men’s athleisure brand, opened a store in Westport, its first in Connecticut and 14th overall at 7 Main Street.
Athleta Q2 Comps Slide 7 Percent; Parent Gap Inc. Swings to Profit
Athleta net sales totaled $341 million for Q2, down 1 percent compared to last year. While sales continue to be impacted by product acceptance challenges, the brand has taken near-term actions to improve product presentation and creative.
EoS Fitness Opens in Houston’s Fifth Ward Neighborhood
EoS Fitness opened a new 34,000-square-foot location close to downtown Houston in the Fourth Ward neighborhood, its fifth gym in the city and sixth in Texas.
EXEC: Globe Sees Hardgoods Woes Cut into Sales, Profits for Fiscal Year
The company posted a double-digit decline in revenues and a sharp downturn in profit in the fiscal year ended June 30 as it struggled with declines in its hardgoods business and the clearance of related inventories, particularly in the U.S.
HanesBrands Forms Apparel Partnership with Texas A&M
HanesBrands signed a deal giving it exclusive design rights to manufacture and distribute Texas A&M fanwear at mass retail and campus/local channels. The University opened a “Champion Station” in-store shop inside its Memorial Student Center Barnes & Noble Bookstore to support the partnership.
EXEC: Foot Locker, Inc. Makes Flurry of New Appointments to Address a Changing Marketplace
Foot Locker, Inc. made additional news Wednesday on its conference call with analysts, announcing a flurry of new hires and appointments to solidify the management teams that will focus efforts on the customer experience.
Reebok Opens Full-Price Store in Mexico
Reebok opened its first freestanding full-line store at Mexico City’s Fórum Buenavista shopping center as it ramps up its international expansion.
Inov-8 Opens First U.S. Store
Inov-8 opened its first U.S. store in Meridian, ID. The U.K.-based footwear manufacturer’s stores now number three, with the other two in England.
Moody’s Lifts Life Time Group’s Debt Ratings on Improving Results
Moody’s raised its debt ratings on Life Time Group Holdings, Inc. due to the owner and manager of fitness and recreational sports centers improving performance, including membership, revenue, EBITDA trends, and steps the company has taken to reduce leverage.
EXEC: On the Call with Foot Locker Execs Talking Q2 Business Trends, Weaker Future Outlook
Foot Locker’s sales trends continue to be a real problem child as total sales and comps both registered high-single-digit declines for the quarter ended July 29. Much of the sales decline came from Champs which comped down in strong double-digits in the quarter on repositioning pain.
Nike CFO of Consumer, Marketplace & Brand Departing for Lysol’s Parent Company
Reckitt Benckiser Group named Shannon Eisenhardt, currently CFO of Nike consumer, brand & marketplace, as CFO of Lysol’s parent company, replacing current CFO Jeff Carr, who is retiring in March 2024. She joins RBG on October 17, 2023.
EXEC: Peloton’s Stock Hits All-Time Low On Q4 Shortfall, Weak Outlook
Shares of Peloton fell $1.58, or 22.6 percent, on Wednesday to an all-time low of $5.41 after the connected fitness equipment maker posted a wider-than-expected fiscal-fourth-quarter loss and pushed back its cash-flow positive goal to 2024 after it failed to achieve it this year as expected earlier.
