Rally House Announces Multiple College Town Store Openings
Rally House plans to open a store in Lexington, KY this summer and stores in Merrillville, IN and College Station, TX this fall.
Planet Fitness Upgrades Two Locations
Planet Fitness reported it renovated its Reisterstown in Maryland, which originally opened in November 2011, and Planet Fitness Columbia in Tennessee, which originally opened in April 2013.
Yue Yuen Sees Footwear Manufacturing Decline Accelerate in July
The Manufacturing business tallied a 23.9 percent decrease in July and a 20.0 percent decrease for the seven-month year-to-date period, an acceleration of the decrease posted in the first half reported through June.
Yue Yuen Footwear Manufacturing Sees Pairs Shipped Fall Nearly 24 Percent in First Half
First half revenue attributed to footwear manufacturing activity, including athletic/outdoor shoes, casual shoes and sports sandals, decreased by 18.1 percent to $2.38 billion, compared with the corresponding period of last year.
Dick’s SG Closes Store in Binghamton
Dick’s Sporting Goods closed its store in Vestal, NY, while opening a House of Sport in nearby Johnson City.
EXEC: Wolverine Worldwide Closing Boston Offices; Consolidating Brands to Michigan
The Boston offices have been home to the Saucony, Keds, Sperry and Stride Rite brands. Keds has been sold and the company is seeking a “strategic alternative” for Sperry.
EXEC: New Wolverine Worldwide CEO to Focus on Building Brands After Q2 Results Disappoint
The new CEO said that while he is excited about the future, the company’s financial update that same morning is “well short of expectations.” He said they have seen softness in the marketplace and headwinds impacting the business that they now expect to continue to the second-half of the year.
EXEC: Sport Chek, Helly Hansen Parent Pulls Growth Targets Amid Consumer Spending Retreat
Canadian Tire Corp, the parent of the Canadian Tire chain and Sport Chek, reported a drop in quarterly revenue, as demand for sporting goods and home improvement items slowed at its stores. The retailer also said it was withdrawing its previously disclosed financial targets for 2022-2025 as it battles high inventory costs and strained consumer spending.
EXEC: Yeti CEO Talks Return to Double-Digit Growth in Fourth Quarter
Shares of Yeti Holdings rose about 17.3 percent Thursday after the drinkware and cooler maker raised its guidance for the year after second-quarter results handily topped Wall Street targets. Speaking to analysts, Matt Reintjes, president and CEO of Yeti Holdings, predicted a return to double-digit growth in the fourth quarter as the firm recovers from a massive recall and taps success with newer product families and line extensions.
EXEC: HBI Leadership Outlines Champion’s U.S. Turnaround Strategy
Company CEO Steve Bratspies said that sales in the U.S. would remain pressured through the back half of this year and that the company had to improve product segmentation to help fix the issues the company sees in the market.
NRF Economist Sees Consumer Spending Growth Slowing
U.S. consumers are still buying more than last year, but spending growth has slowed as the economy settles down amid higher interest rates intended to reduce inflation, National Retail Federation Chief Economist Jack Kleinhenz said Thursday.
Certor Sports, Parent to Schutt, Tucci and Vicis, Names CEO
Certor Sports named Jeremy Erspamer its CEO, overseeing Certor Sports’ portfolio, including Schutt, Tucci and Vicis.
SportChek’s Sales Flattish in Second Quarter
Canadian Tire Corporation, Ltd. reported SportChek’s comparable sales were up 0.1 percent in the second quarter ended July 1. Team sports and lifestyle footwear grew, while athletic clothing and outerwear were down. Canadian Tire’s overall comps were up 0.1 percent.
Leatt Corp. Q2 Hurt by Body Armour Decline Offsetting Continued Helmet Growth
The company said 2023 continues to be challenging for the entire MOTO and MTB industry due largely to post-Covid stocking and sell-through dynamics. DTC sales grew as a percent in the quarter.
Hanesbrands Sees Champion Brand’s Continued Slide in Q2 Offset Gains Elsewhere
On a constant-currency basis, net sales decreased 4 percent, with growth in U.S. Innerwear and Champion in Asia more than offset by a decline in U.S. Activewear and the continued macro-driven slowdown in consumer spending impacting Australia.
