Nike To Temporarily Close Stores In Russia
Nike, Inc. said it would temporarily close all its owned stores in Russia. The brand joins a number of other Western brands that have suspended their businesses in the country following Moscow’s invasion of Ukraine.
Athleta Q4 Sales Gain 52 Percent On Two-Year Basis
Gap, Inc. reported fourth-quarter net sales at Athleta jumped 52 percent versus 2019 with comparable sales up 42 percent versus the fourth quarter of 2019.
OC Sports Appoints National Sales Manager
OC Sports announced it promoted Nate Currier to national sales manager. Currier has over five years of experience at Outdoor Cap, previously in the Farm and Western Division.
Adidas Appoints Chief Creative Officer
Adidas announced the appointment of Alasdhair Willis to chief creative officer responsible for the global creative direction for its brands and its three labels—Performance, Originals and Sportswear.
Anta To Open Fila-Branded Hotel In Shanghai
Anta announced a partnership with Hyatt Hotels to open a lifestyle hotel concept, Fila House Shanghai, in 2024.
Under Armour Must Submit Documents Related To SEC, DOJ Investigations To UCLA
Under Armour, Inc. must submit documents related to the federal government’s investigation into its accounting practices which led to a $9 million fine last year, a Los Angeles judge overseeing the litigation over its canceled UCLA contract has ruled, according to the Baltimore Business Journal.
Peloton Ex-CEO Sells $50 Million In Stock To Michael Dell’s Investment Firm
According to a securities filing, Peloton co-founder and ex-CEO John Foley has sold about $50 million in stock to an investment firm backed by Michael Dell, MSD Partners.
RYU Apparel Hires DJM Sales Consulting
Vancouver-based RYU Apparel Inc. announced the hiring of DJM Sales Consulting, to lead global sales and oversee the company’s wholesale strategy.
Recall: Fitbit Ionic Smartwatches
About 1 million Fitbit Ionic Smartwatches sold in the U.S. are being recalled. The lithium-ion battery in the Ionic smartwatch can overheat, posing a burn hazard.
Fanatics Earns $27 Billion Valuation In Latest Funding Round
Fanatics, Inc. raised $1.5 billion from a group of investors, including Fidelity Management & Research Co., managed by BlackRock, Inc. and Michael Dell’s family office (MSD Capital LP), valuing the company at $27 billion, according to a report from the Wall Street Journal.
Amazon To Close 4-Star, Book And Pop-Up Stores
Amazon is closing 68 brick-and-mortar bookstores and pop-up kiosks in the U.S. and UK to concentrate on its supermarkets, including Whole Foods and Amazon Fresh, according to a report from Reuters.
Nike Suspends Online Sales In Russia
Nike Inc. has stopped taking online orders on its Russian website because it can’t guarantee delivery, Nike said on its Russian website.
Xponential Fitness Appoints President Of XPass
Xponential Fitness, Inc. announced the nationwide launch of XPass, a fitness class subscription service, and Danyal Ali as president of XPass. Xponential’s brands include Pure Barre, Club Pilates, CycleBar, Rumble, YogaSix, StretchLab, Row House, AKT, STRIDE, and BFT.
Signa Sports’ Sales Expand 11 Percent in First Quarter
Signa Sports United N.V. (SSU) reported net revenue grew 11 percent in the first quarter despite supply constraints in the full-bike category. Excluding full-bike sales, net revenue grew 15 percent.
Beachbody’s Revenues Slide 4 Percent In Q4
The Beachbody Company, Inc. reported fourth-quarter results exceeded guidance, marked by a 42 percent two-year growth in total digital and nutritional subscriptions and a 21 percent gain in total streams versus 2019.
