SGB Update Footwear
McKinsey and WFSGI See Upbeat Execs in Sporting Goods 2024 Report
After a mixed 2023, sporting goods companies continue to face macroeconomic headwinds, winner-takes-all competition, and rising levels of physical inactivity around the world. Still, many executives say they are more optimistic than at any time over the past few years.
Tom Brady’s TB12 Nutrition Brand to Merge with Nobull
Nobull was purchased in 2023 by beverage veteran Mike Repole. The deal includes footwear, apparel and nutrition products previously housed under the TB12 and Brady brands. Brady becomes the second largest shareholder.
Gordon Brothers Will Sell Zulily Inventory & Fulfillment Center Assets
The company has been engaged to sell by private treaty over $85 million of inventory and the assets of two 775,000-square-foot fulfillment centers on behalf of Zulily ABC LLC.
Ermenegildo Zegna Sales Up Strong in Q4 on DTC and Asia Growth
Revenues for the fourth quarter of 2023 were €570 million, up 40.1 percent YoY and up 42.9 percent YoY on a constant-currency basis, with an organic growth rate of 19.6 percent.
Walmart Will Conduct 3:1 Stock Split
Shares to be issued in the stock split will be payable after market close on February 23, for shareholders of record at the close of business on February 22. Shareholders will receive a distribution of two additional shares of common stock for each share held.
Nordstrom Plans Two New Rack Locations in North Carolina
The new stores will be located in Raleigh and Matthews. The 32,000-square-foot Raleigh store will be located in Triangle Town Place open in fall 2024, while the 25,000-square-foot Matthews store outside Charlotte is expected to open in spring 2025.
NSSF Concludes a Record SHOT Show
More than 55,400 industry professionals attended the four-day event with more than 2,600 companies exhibiting.
Two Ten Footwear Foundation Appoints New Chair and Vice Chair
New Balance President and CEO Joe Preston was confirmed as Board chair, succeeding outgoing chair David Kahan, president and CEO of Birkenstock USA. Jonathan Frankel, president of Aldo Product Services, Aldo Group, now serves as Board vice chair.
Sportsman’s Warehouse Adds Indie Board Director
Steve Becker is the new independent member of the company’s Board of Directors, effective immediately. He will serve as a member of the Board’s Nominating and Governance Committee.
Macy’s Shares Recover on Rumors of Another Buyout Bid
Sycamore Partners, the owner of retail brands Ann Taylor and Talbots, has been negotiating with Macy’s since December.
Nordstrom Adding Rack Location in Fort Myers, FL
The 31,000-square-foot store will be located at Bell Tower, a central shopping, dining, and entertainment complex in Fort Myers.
Report: Nearly 8 of 10 Online Chargebacks Originate from Consumers, Not Fraud
Based on anonymized data obtained from Chargeflow’s merchant database, the company’s 2024 report found that 79.03 percent of chargeback cases result from friendly fraud, driving the need for businesses to adopt automated fraud detection solutions and educational initiatives.
Ashworth Golf Names Sales Rep of the Year
Ann Johnson’s hard work and determination proved instrumental in opening new doors, securing green grass accounts and delivering significant growth for the company.
Academy Sports and Outdoors Appoints Chief Supply Chain Officer
Rob Howell will join the company as SVP and chief supply chain officer in February 2024, reporting to President Sam Johnson. He will oversee supply chain operations, distribution centers, and domestic and international logistics.
Athletic Propulsion Labs Appoints Footwear Vet as SVP of Sales
With a solid background in key account sales management at Vans and Toms, Seth Stern will oversee the luxury performance athletic footwear brand’s global wholesale channel.
