SGB Update Apparel
Nike’s Q2 Exceeds Wall Street Targets
Nike Inc. reported earnings for the second quarter ended November 30 rose 7 percent and easily topped Wall Street’s consensus target. Sales inched up one percent, led by Nike Brand Digital growth of 11 percent, while gross margins improved 280 basis points.
Copper Fit Partners With Gwyneth Paltrow
Activewear brand Copper Fit announced a new partnership with CEO and Founder of Goop and Academy Award Winning Actress Gwyneth Paltrow. She becomes Copper Fit’s first female brand ambassador.
Reebok Secures Commitment From JD Group
Authentic Brands Group (ABG), which reached an agreement to acquire Reebok in August, announced a new strategic partnership with the JD Group (JD). Through the long-term agreement, JD will carry Reebok apparel and footwear in more than 2,850 of its company-owned stores and websites.
Hanesbrands Partners With Wake Forest
Wake Forest University’s athletics department signed a long-term retail apparel licensing partnership with Hanesbrands, Inc. that includes Alternative Apparel, Champion and Hanes brands.
Dick’s SG Launches $2 Billion Stock Buyback Program
Dick’s Sporting Goods, Inc. said in a regulatory filing that on December 16, its Board of Directors authorized the repurchase of an additional $2 billion of the company’s common stock.
Mastercard: Holiday Shopping Survey Shows Consumers Prefer Online Shopping And Gift Cards
While consumers are returning to their in-store shopping routines, according to a recent Mastercard survey, 56 percent of shoppers have continued to prioritize online shopping this holiday season, citing waiting in lines (72 percent), finding parking (65 percent) and items being out of stock (47 percent) as primary reasons.
Buffalo Groupe Expands Business Development Team
Buffalo Groupe, LLC, a collection of agencies and media properties focused on golf, hired Dan Chelel as vice president and Andrea Cascia as senior director of business development.
USA Cycling Appoints New CEO
USA Cycling appointed cycling industry veteran and USA Cycling Chairman of the Board, Brendan Quirk, to be its next CEO, replacing Rob DeMartini.
Academy Sports Appoints Board Member
Academy Sports and Outdoors Inc. announced the appointment of Chris Turner to its Board of Directors and Audit Committee. With this change, Academy’s Board now comprises ten directors. Turner has served as the chief financial officer of Yum! Brands since 2019.
Under Armour’s Debt Ratings Upgraded
Moody’s Investors Service upgraded Under Armour, Inc.’s debt ratings due to better-than-expected revenue and earnings growth. Mike Zuccaro, Moody’s vice president, said, “”With improved profitability, a much stronger balance sheet and very good liquidity, the company is well positioned to weather the lingering effects of the pandemic.”
OBIT: NSGA’s Paul Prince
Paul Prince, who was a prominent figure at the National Sporting Goods Association (NSGA) and in the sporting goods industry for four decades, passed away after a battle with cancer on December 14, 2021. Prince was 82.
Adidas Originals To Launch Debut NFT Collection
Adidas announced the launch of the company’s first Adidas Originals NFT collection. The drop is in partnership with the Bored Ape Yacht Club (BAYC), the cryptocurrency investor Gmoney and the comic series Punks Comics.
Pelé Soccer Store Opens At Downtown Disney District
Pelé Soccer celebrated its grand opening at downtown Disney district at the Disneyland Resort.
Adidas To Initiate €4 Billion Share Buyback Program
The Executive Board of Adidas has launched a multi-year share buyback program. Starting in January 2022, the company plans to buy back shares in an amount of up to €4 billion until 2025.
Retail Trade Groups Applaud Congressional Ban On Goods From Xinjiang
Retail Trade Groups, including American Apparel & Footwear Association (AAFA) and National Retail Federation (NRF), issued a joint statement cheering Congressional passage of the Uyghur Forced Labor Prevention Act, H.R. 6256, which bans the import of goods from areas of China allegedly using forced labor.
