Pou Sheng Issues Profit Warning
Pou Sheng, the retail subsidiary of Yue Yuen, forecasted a decline in year-over-year net profits due to weak consumer sentiment in China associated with COVID-19 lockdowns and lower store traffic in cities where it operates.
Nike Opens Store In Harlem
Nike opened a Nike Unite store in Harlem. Located on 125th Street, this is Nike’s northernmost Manhattan location.
Garmin Wins Patent Lawsuit Over Smartwatch Technology
Garmin International, Inc., a subsidiary of Garmin, Ltd., won its patent lawsuit brought by Logantree LP against Garmin in Kansas federal court.
Xterra Hires EMEA General Manager
Xterra hired Doug Hall to the newly created position as general manager of the EMEA region, to focus on brand expansion, quality control and business operations.
Thule’s Q3 Sales Drop 23 Percent
Thule reported a sharp decline in earnings on a 23 percent revenue decline in the third quarter due to weakness in the bike channel.
Golftec Opens Location In Little Rock
Golftec opened an instruction and club fitting center in Little Rock, AR, its first location in the state.
Recall: Horizon T101-05 Treadmills
About 192,000 Horizon T101-05 Treadmills sold in the U.S. have been recalled for unexpectedly accelerating, changing speed or stopping without user input, posing a fall hazard.
Recall: Goalsetter Wall-Mounted Basketball Goals
About 18,000 Goalsetter wall-mounted basketball goals were recalled. The basketball goal could detach from the wall and fall to the ground, causing injury or death.
Deckers Brands’ Q2 Again Driven By Hoka’s Outperformance
Deckers Brands reported earnings and sales both exceeded analyst targets in the second quarter ended September 30 and maintained its outlook for sales and EPS for the fiscal year despite margin pressures. Sales of Hoka surged 58.3 percent year over year in the quarter while sales of Ugg gained 6.3 percent.
Fanatics Hires Global HR Executive And Organizational Leader
Fanatics hired Orlando Ashford for the newly created chief people officer (CPO) role at Fanatics Holdings working closely with the company’s three businesses—commerce, collectibles and betting and gaming while managing global human resources.
Escalade’s Sale Decline 7.9 Percent In Third Quarter
Escalade Inc. reported earnings fell by 50 percent in the third quarter ending October 1 as margins eroded and sales dipped 7.9 percent.
Mitchell & Ness, Fanatics Expand Ownership Group
Fanatics expanded the ownership group of Mitchell & Ness. The ownership group now includes LeBron James, Kevin Durant, Chris Paul, CJ McCollum, Devin Booker, James Harden, Joel Embiid, Odell Beckham Jr., Kevin Hart, Rich Paul, Rich Kleiman, Scooter Braun, and Steve Stoute.
Delta Apparel Names Senior Director Of DTG2Go
Delta Apparel, Inc. hired Patrick Bowman as senior director of DTG2Go, its digital print business unit.
Garmin Raises 2022 EPS Guidance On Improved Margin Outlook
Garmin Ltd. reported sales declined 4 percent in the third quarter ending September 24, dragged down by an 18 percent slide in the fitness segment. Second-quarter earnings topped Wall Street estimates and Garmin lifted its full-year EPS outlook on an improving margin outlook.
Puma Sees 17 Percent Currency-Neutral Growth In Q3
Puma reiterated its outlook for the year despite market volatility while reporting another quarterly record of sales and EBIT performance in the third quarter ending September 30. Sales in the third quarter grew 16.9 percent on a currency-adjusted basis, led by growth of 18.8 percent in the Americas region and 18.5 percent in EMEA.
