Academy Sports Q4 Earnings Fly Past Wall Street Targets
Academy Sports and Outdoors Inc. reported earnings on an adjusted basis increased 12.5 percent in the fourth quarter ended January 28 as lower freight costs and overall operating expenses offset a 5.1 percent decline in same-store sales. EPS easily topped analysts’ consensus estimates while sales were below.
February Retail Sales Rise 5.4 Percent Year-Over-Year
Overall retail sales dipped slightly in February, but core spending rose, according to data reviewed by the National Retail Federation.
Nike To Stop Using Kangaroo Leather In Soccer Cleats
Nike reported it would stop using kangaroo leather in its shoes amid moves from U.S. state and federal lawmakers to ban the sale of kangaroo products.
Pou Sheng International Appoints CEO
The Pou Sheng International (Holdings) Limited board of directors re-designated Wang Jun, the acting CEO, as CEO effective March 15.
Diamond Sports Group Files For Chapter 11 Bankruptcy To Dump Debt
Diamond Sports Group, LLC is finalizing a Restructuring Support Agreement (RSA) with holders of a majority of its debt and Sinclair Broadcast Group, Inc. to eliminate over $8 billion of the company’s outstanding debt. The company filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas.
Marriott Appoints Dick’s CEO To Board Seat
Marriott International, Inc. elected Lauren Hobart, president and chief executive officer of Dick’s Sporting Goods and Grant F. Reid, former president and chief executive officer of Mars, as independent directors.
Hypetex Appoints Michael Dowse To Board
Hypetex, a UK company that makes colored carbon fiber using sustainable colorization materials, appointed Michael Dowse, former long-time president of Wilson Sporting Goods, as a non-executive director and board member.
Niner Bikes Founder Joins Gates To Develop Bike And eBike Technologies
Niner Bikes founder Chris Sugai joined Gates as general manager of Gates Global Mobility, driving the development of advanced drivetrain solutions and belt technologies for bikes, eBikes, motorcycles, powersports, and electric micromobility.
Cycling Distribution Network Enlists BikeExchange As U.S. E-Com Platform
Cycling Distribution Network (CDN), the U.S. distributor of Basso, Berria and Lee Cougan bikes, reported partnering with BikeExchange (BEX) as its exclusive e-commerce platform.
Sporting Goods Retail Industry Icon Jim Chick Passes Away
The National Sporting Goods Association shared that former NSGA board member and board chair, Jim Chick, passed away. Chick was president & CEO of Chick’s Sporting Goods, headquartered in Covina, CA, for nearly 40 years. He was a member of the NSGA board of directors from 1985 to 1994 and was the board chairman in 1992.
Selkirk Sport Inks Deal With Golf Course Operator For National Pickleball Expansion
Pickleball equipment and paddle manufacturer Selkirk Sport partnered with Invited, the Dallas, TX-based corporation and largest owner and operator of private golf and country clubs in the U.S., to introduce pickleball into its activities program.
Nordstrom Adding Two Rack Stores In Fall 2023
Nordstrom, Inc. reported plans to open two stores in fall 2023—a Nordstrom Rack in Natomas, CA, and a Rack store in San Antonio, TX.
IHRSA, SFIA, Pro Leagues Commend Bipartisan PHIT Act Legislation
IHRSA and SFIA issued statements commending the newly introduced bipartisan legislation to allow flexible spending and health savings accounts (HSA) for physical activity products, services and youth sports.
Rally House To Open Three Stores In Arkansas
While Rally House has a strong presence in the Midwest, the company reported this week it enter a new market in Arkansas.
Beachbody Narrows Q4 Loss By Two-Thirds Despite Strong Double-Digit Sales Decline
The Beachbody Company, Inc., which re-branded as Bodi in March, reported total fourth-quarter revenue decreased 31 percent to $148.2 million for the period ended December 31, compared to the prior year period.
