Toys R Us to Open Up to 24 Flagship Stores in the U.S. Next Year
WHP Global, the parent company of Toys “R” Us, partnered with Go! Retail Group to open as many as 24 Toys R Us flagship stores across the U.S. starting next year.
Report: Woods and Golf Balls Help Drive Positive Golf Equipment Growth in August
Golf Datatech reported that golf equipment sales posted an increase in on-and off-course specialty stores in August after 11 consecutive months of contracting sales. Total golf equipment sales reportedly grew by almost 3 percent for the month in the channel, driven by the Woods and Golf Balls categories.
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.
Kohl’s Names Director of Stores
Kohl’s hired retail veteran Fred Hand as senior EVP and director of stores, reporting to President and Chief Operating Officer Dave Alves. Hand will be part of Kohl’s senior executive leadership team and support the company’s strategic focus to drive store sales and productivity.
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.
Survey: Plurality of Fitness Enthusiasts Prefer to Work Out in a Gym or Fitness Center
The survey revealed that a plurality of respondents indicated that they preferred working out at the gym (47.4 percent). Still, a majority of respondents (52.6 percent) preferred to work out elsewhere.
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.
Nike Misses Revenue Estimates on Weak North America; Profits Beat
Nike, Inc. reported profits slipped 1 percent in the fiscal first quarter ended August 31. Sales grew 2 percent on a currency-neutral basis as double-digit gains in China helped offset a 1 percent decline in North America. Earnings came in well above analyst targets but sales were slightly below.
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.
