SGB Update Outdoor
Signa Sports to Delist Shares, Terminate SEC Reporting; Appoints New CEO
Signa Sports United N.V. reported an acceleration of its strategic realignment and performance enhancement program in light of continuing macroeconomic headwinds, oversupply in the market and the company’s severe liquidity and profitability challenges. In connection with the strategic realignment, the company is delisting its shares from the NYSE and terminating its SEC reporting requirements.
SGB Media Reports Most Read Articles, Key Metrics for September 2023
SGB Media reported its Top 20 most-read articles, and the coverage included many of the usual big brands and a few companies that have been silent of late. The Top 5 included articles about Sportsman’s Warehouse, West Marine, Dick’s Sporting Goods, Amer Sports, and Asics Corp., with Academy, Champion and Nike seeing high readership.
SEC Charges Coleman’s Parent Co, Former CEO With Misleading Investors
The SEC on Friday charged Newell Brands and Michael Polk, its former CEO and current CEO of Implus, with misleading investors over financial accounting practices. The company and Polk agreed to a settlement with the SEC.
Head/Tyrolia Hires New Sales and Marketing Associate
Head/Tyrolia, the ski and binding brand, hired Max Bervy, III, as Wintersports sales and marketing associate based in the company’s Boulder, CO office.
Dick’s SG To Open Store in Glen Carbon, IL
Dick’s Sporting Goods plans to open a new store at Orchard Town Center in n Glen Carbon, IL, in spring 2025.
Jack Wolfskin Appoints New CEO as Current CEO and GM Europe Plan to Leave
Richard Collier resigned as CEO of Jack Wolfskin and is leaving the company at the end of the year. Matthew Jung, GM of China, will take over as CEO globally in January 2024. Natascha el Mahmoud, GM Commercial Europe, is also leaving the company in early 2024.
Report: Adidas Appoints New Digital Chief
Scott Zalaznik, Adidas’ SVP of digital, is leaving the company, according to a report from Germany’s Manager Magazin. His successor is Tobias Seemann, who joins the company as SVP of global digital and e-commerce in October.
Outdoor Gear Exchange to Open Second Vermont Store
Outdoor Gear Exchange, which operates one store in Burlington, VT, plans to open a second in Essex Junction, VT.
Johnson Outdoors Increases Quarterly Dividend
Johnson Outdoors, Inc.’s Board of Directors approved an increased quarterly cash dividend of 33 cents per Class A share and 30 cents per Class B share.
Burley Names New National Sales Manager
Burley promoted Carson Kiesewetter to national sales manager, overseeing and coordinating sales strategies for the company’s U.S. retail partners.
Vail Resorts Has Strong FY Mountain Revenue Gain with Skier Visits Up 12 Percent
Vail Resorts, Inc. reported total net revenue increased 14.4 percent, to $2.89 billion for the year ended July 31. Total lift revenue increased 8.4 percent to $1.42 billion in fiscal 2023 due to increases in both pass product revenue and non-pass product revenue but all other Mountain revenue segments were up in double digits for the year.
Salomon Hires President of Salomon Americas
Salomon hired Steve Doolan as president of Salomon Americas, effective October 23, leading the business from its regional headquarters in Ogden, UT.
EXEC: ASOS plc Warns on Fiscal Year Cashflow Issue Due to Timing Effects
The retailer typically receives cash from their sales gross of returns and sales tax immediately. However, the cash outflow from sales tax, returns and variable costs associated with those sales predominantly impacts the following two months. The impact will reverse during September and October.
Enduro Bearings Expands Efforts in Australia, New Zealand
Enduro Bearings inked a multi-year distribution agreement with Lusty Industries in Australia and strengthened its relationship with Performance Recreation Velo in New Zealand.
Trek Bicycle Recalls Allant+ 7 E-Bikes Over Rear Brake Hose Issue
The company said the rear brake hose could kink and break when the handlebar is turned causing the rider to lose control of the bike, posing a crash hazard.
