Adidas Ramps Up Growth Goals
In his second quarterly conference call since taking over as CEO of Adidas AG, Kasper Rorsted strongly bumped up the company’s long-term growth outlook while announcing several new initiatives to support its five-year ‘Creating the New’ business plan.
Quiksilver Inc. Renamed Boardriders Inc.
The new name is intended to represent the company’s full range of action sports brands — Quiksilver, Roxy and DC Shoes — unified by the boardriding culture and heritage.
Adidas Brand Stars In Q4
Adidas Brand’s gain of 18 percent on a currency-neutral basis was driven by double-digit growth in the running category as well as at Adidas Originals and Adidas Neo. In addition, high-single-digit growth in the training category contributed to the top-line improvement.
Dick’s Sporting Goods Opens Three New Stores
The new stores will bring the retailer’s total to 685 Dick’s Sporting Goods locations in the country.
Technogym Joins Forces With IBM
The goal is to create a “human-like” virtual coach able to interact with people using natural language.
Black Diamond Returns To Core Focus For 2017
“The recurring take-away was retailers’ perception that Black Diamond had been distracted over the past four to five years by various strategic initiatives,” said John Walbrecht, president, about his discussions with retailers since joining the company five months ago.
SFIA Reports Modest Growth In U.S. Wholesale Shipments
Results of the 2017 SFIA Manufacturers’ Sales by Category Report detail a 2 percent increase overall in the combined categories of sporting goods and fitness equipment, sports apparel, athletic footwear and licensed products.
Adidas Bangs Out 14 Percent Growth In Q4
Adidas reported fourth-quarter sales increased 14 percent on a currency-neutral basis, led by an 18 percent. Combined currency-neutral sales for the Adidas and Reebok brands grew at double-digit rates in key market segments such as North America (29 percent), Greater China (25 percent), Latin America (22 percent) and and Western Europe (12 percent)
Adidas Expands 2020 Growth Targets
Adidas now expects currency-neutral sales to increase at a rate between 10 percent and 12 percent on average per year between 2015 and 2020, up from high-single-digit growth previously. The company also added five more pillars – Corporate Culture, Digital, One Adidas, North America and Portfolio – to drive growth.
Puma Officially Signs Big Sean
The German brand now counts Sean amongst Rihanna and The Weeknd as its musician collaborators.
Adidas Appoints CFO
Harm Ohlmeyer, most recently SVP digital brand commerce, has been appointed to the executive board as ordinary member with immediate effect and as CFO of Adidas AG, effective May 12.
Dick’s To Eliminate 20 Percent Of Its Vendor Mix
While reporting fourth-quarter earnings that arrived slightly ahead of targets, Dick’s Sporting Goods Inc. said it’s implementing a new merchandise and vendor matrix that will reduce up to 20 percent of its brands.
NSGA Opposes Border Adjustment Tax
The National Sporting Goods Association has added its name to the list of leading organizations and businesses that oppose passage of the Border Adjustment Tax.
Lululemon Partners With PBteen On Home Decor Line
PBteen, owned by Williams-Sonoma Inc., formed an exclusive home decor partnership with Ivivva, the athletic apparel brand created by Lululemon.
Dick’s Q4 Tops Guidance
Dick’s Sporting Goods Inc. reported first-quarter earnings on an adjusted basis grew 17 percent, ahead of Wall Street analysts, as same-store sales rose 5 percent. The nation’s largest sporting goods chain also forecast double-digit earnings gains in its initial forecast for 2017, although it’s targeting flattish first quarter profits.
