Adidas HR Chief To Depart This Month
Adidas AG reported that Amanda Rajkumar, executive board member and labor director of Adidas, responsible for global human resources, people and culture, informed the company’s Supervisory Board that she would not renew her contract, which expires in December 2023 and is leaving the company on July 15. Adidas provided no reason for Rajkumar’s decision.
Stewart Golf Opens First U.S. Customer Care Center In Houston
Stewart Golf, the electric and push golf cart manufacturer, reportedly opened its first U.S. customer care center in Houston, TX, for inquiries, servicing and repairs.
Academy Sports Opens Store In Peoria
Academy Sports + Outdoors opened its first store in Peoria, IL, the second in the state, including the store in Fallon, IL.
Adidas Partners With Roma
Adidas signed a long-term partnership with Roma to become the Italian soccer club’s new kit supplier, replacing New Balance.
On Opens Store In Brooklyn
Swiss running brand On opened a store in Brooklyn’s Williamsburg neighborhood, marking its fourth retail location in the U.S. and its 23rd store globally. The company reported that future store openings are planned for Miami, Chicago, Austin, and Portland, OR.
Nike Tops Fiscal Q4 Sales Expectations, Misses On Earnings On Margin Pressures
Nike, Inc. reported net earnings slid 28 percent in its fiscal fourth quarter ended May 31 and were just short of Wall Street expectations due in part to higher markdowns used to clear inventories.
Precor Partners To Support Stages Cycling’s Global Distribution
Precor, a wholly-owned subsidiary of Peloton, and Stages Cycling, a manufacturer of commercial indoor cycles, power meters and cycle computers, announced plans to enter into a “strategic global distribution agreement that will expand the availability and reach of Stages Cycling products to new markets and customers.”
L Catterton Sells Majority Stake In Cicli Pinarello
L Catterton reported selling its majority stake in Cicli Pinarello, the Italian manufacturer of road bikes, accessories and apparel, which it acquired in December 2016, to a “private family office.” The company did not disclose the terms of the transaction.
Authentic Brands Raises $500M In Funding From General Atlantic
Authentic Brands Group has raised $500 million from its existing investor General Atlantic, bringing the private equity firm’s investment in the apparel chain operator to nearly $2 billion. The funds will be used to accelerate growth.
Soccer Pioneer Hubert Vogelsinger Passes Away
Hubert Vogelsinger, a pioneer of soccer camps in the United States and a notable figure in the North American Soccer League (NASL), has passed away.
Lululemon Partners With Ohio State University
The Ohio State Buckeyes Department of Athletics announced a new merchandising partnership with Lululemon.
Koroyd Grows HQ With New Hires, Innovation Investment and Brand Relaunch
Koroyd, the maker of advanced impact protection technology, headquartered in Monoco, relocated and expanded its headquarters, added new hires, relaunched its brand messaging, and reported category growth in significant markets for the brand.
JLL Survey: Back-To-School Spending Expected To Rise 15.7 Percent This Year
According to JLL Retail Advisory’s back-to-school survey of more than 1,000 parents of school-aged kids, planned back-to-school spending will rise 15.7 percent. The company found that more than half of the parents have budgeted more this year to accommodate higher retail prices.
Trek Recalls Certain Promax Hydraulic Disc Brakes Sold On Trek Bicycles
Trek Bicycle Corp., in cooperation with the U.S. Consumer Product Safety Commission (CPSC), is recalling Promax hydraulic disc brakes sold on Trek Bicycles. The brake hose can detach from the brake lever, posing a crash hazard.
Sound Around, Inc. Recalls Children’s Multi-Purpose Helmet
Sound Around, Inc., cooperating with the U.S. Consumer Product Safety Commission (CPSC), recalled approximately 1,800 Hurtle multi-purpose children’s helmets. The recalled helmets do not comply with the positional stability requirements of the U.S. CPSC federal safety standard for bike helmets.
