BRC: British Retail Foot Traffic Recovers as Outlets Fuel Growth
The data shows that much of the footfall recovery in July was shored up by strong performance in outlet retail, as shoppers turn to discount formats to make spend go further.
EXEC: Titleist Parent Sees Continued Benefit from Golf’s Pandemic Boost
Acushnet Holdings Corp.’s second-quarter results topped analyst estimates as the momentum in Titleist golf balls and golf clubs offset weakness at FootJoy. David Maher, president and CEO, told analysts, “Supporting the company’s first half results, we are enthused by the golf industry’s overall health and stability with participation remaining vibrant even as golfers return to many pre-COVID activities.”
Pickleball Kingdom Entering Wisconsin with New Franchisee
The expansion comes as a result of a partnership between Pickleball Kingdom Franchising and Forbici Management Group, Inc.
Life Time Debuts Athletic Country Club and Beach Club in Miami
Life Time Miami at The Falls covers 120,000 square feet with its three-story building and outdoor beach club.
Pentland Brands Simplifying Business Structure; Cutting 90 Jobs
Pentland Brands reported it initiated a new program to “simplify the way its business is organized” to focus on product, digital, consumer data, and analytics; however, it means laying off 90 employees. The second quarter of fiscal 2023 was $400.7 million, a decrease of 1.5 percent, compared to net sales of $406.7 million in the second quarter of fiscal 2022.
Xero Shoes CPO, Dennis Driscoll, Retiring After 44-Year Footwear Career
Long-time global footwear industry veteran Dennis Driscoll is retiring on September 1 after more than 44 years. He has served as chief product officer for Xero Shoes since 2012.
EXEC: Nike Opening Chain of Boutique Fitness Studios
The first location will open in West Hollywood, CA this year, with additional openings to follow in Los Angles and across the U.S., according to nikestudios.com
EXEC: Nike Declares Dividend; 22 Percent of Proceeds Go to Knight Family, Foundation
The Nike, Inc. Board of Directors, which is 75 percent controlled by the Knight family, has declared a quarterly cash dividend of 34 cents per share on the company’s outstanding Class A and Class B Common Stock.
Xponential Fitness Raises Guidance After Strong Second Quarter
The company saw total revenue for the second quarter increase 30 percent to $77.3 million, up from $59.6 million in the prior-year period. The increase included a corresponding North America same-store sales increase of 15 percent.
EXEC: GoPro Gets Q2 Sales Lift on Lower Prices, Return to Retail Doors
GoPro said it saw an immediate retail sales and GoPro subscription lift in the second quarter as a result of its mid-quarter go-to-market strategy shift that included a return to pre-pandemic pricing and a greater emphasis on retail sales.
Nike Partners with USA Gymnastics
For the first time, Nike will serve as the official apparel and footwear partner of USA Gymnastics and the USA Gymnastics National Team.
Delta Apparel Logs Q3 Loss As Sales Decline Double-Digits
Delta Apparel Inc. posted a loss in the fiscal third quarter ended July 1 due to efforts to reduce production levels to rebalance inventories in the marketplace as well as from inflationary pressures on cotton. Delta said the inventory and inflationary pressures are receding.
EXEC: Adidas Sees North America Struggles Continue
Adidas’ second quarter results included several encouraging signs, including securing an incremental profit of €150 million ($164 mm) from the first drop of leftover Yeezy, significantly improved margins due to better sell-throughs and less discounting, and a return to double-digit growth in China. However, the laggard continues to be North America, where sales on a currency-neutral basis tumbled 16.4 percent in the period.
Fox Factory Posts Flattish Q2 Sales Growth Despite Shrinking Specialty Sport Group
A 1.5 percent revenue decrease for Q2 reflects a 41.0 percent decrease in Specialty Sports Group net sales, offset by a 32.6 percent increase in Powered Vehicles Group and 26.2 percent growth in the Aftermarket Applications Group net sales.
ICSC: Majority of BTS Shoppers Spending More in 2023 Due to Inflation, Higher Prices
While inflation is a partial driver of higher spending, the data found that the consumer remains resilient, but focused on deal-hunting for the best prices in the face of rising costs.
