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.

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.

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.