Adidas Sees Modest Q4 Sales Decline On Supply Chain Challenges
Adidas reported currency-neutral sales declined 3 percent in the fourth quarter due to supply shortages as a result of the lockdowns in Vietnam last year, the challenging market environment in Greater China and pandemic-related lockdowns in the Asia-Pacific. However, currency-neutral sales for 2021 rose 16 percent and Adidas projected will increase at a rate between 11 percent and 13 percent in 2022.
100% Appoints New Leadership Team
100%, the San Diego, CA-based sports performance brand, has appointed new leadership.
Topgolf’s Debt Ratings Upgraded
S&P Global Ratings raised its debt ratings on Topgolf, which is owned by Callaway Golf, due to Callaways’ move to suspend an opportunistic refinancing transaction that would have enabled it to consolidate all of the group’s debt at the parent level.
Adidas Closes Stores In Russia
Adidas AG is closing its stores in Russia and suspending its online shop, joining Nike, Puma and a wide range of Western businesses that have halted operations in the country following its invasion of Ukraine.
Near-Record Import Levels Expected At U.S. Ports As Congestion Continues
Imports at the nation’s major retail container ports are expected to be at near-record levels this spring and summer as consumer demand and supply chain challenges continue to result in congestion, according to the monthly Global Port Tracker* report released by the National Retail Federation and Hackett Associates.
Mark Wahlberg Becomes Minority Investor In P448’s Parent Company
StreetTrend LLC, which owns the P448 sneaker brand, announced that actor, producer and businessman Mark Wahlberg has made a significant minority investment in the company. The terms of the deal were not disclosed.
Topgolf To Open First Greater Los Angeles Area Venue
Topgolf Entertainment Group is set to open its first Greater Los Angeles area venue in Ontario, CA on March 11.
L. Catterton Acquires Taxa Outdoors
Travel trailer maker Taxa Outdoors announced that the Growth Fund of L Catterton acquired it. RX3 Growth Partners is also an investor. Taxa said the investment would drive its distribution growth and expand its product offerings. The terms of the transaction were not disclosed.
Dick’s SG’s Again Tops Expectations In Q4
Dick’s Sporting Goods reported earnings on an adjusted basis grew 50 percent in the fourth quarter ended January 29 on a 5.9 percent same-store sales gain. Both earnings and sales topped Wall Street’s guidance with the period marking Dick’s largest sales quarter. Earnings are expected to decline in the current year with comps expected in the range of negative 4 percent to flat, but EPS guidance was ahead of Wall Street targets.
Berger Export Sales Manager Announced
Capstone Precision Group, the manufacturer and distributor of Berger bullets and ammunition, announced the appointment of Daniel Salazar as export sales manager.
Clarus’ Q4 Sales Jumped 55 Percent
Clarus reported adjusted net income grew 55 percent as sales grew 56 percent sales gain. Sales grew 68 percent in 2021 and are expected to climb 25 percent in 2022. Sales in the fourth quarter grew 17 percent in the Outdoor segment (Black Diamond) and 37 percent in the Precision Sport segment (Sierra, Barnes).
Kohl’s Provides Key Updates On Strategic Growth Initiatives
At Investor Day, Kohl’s announced new long-term financial targets and growth strategy that included continued growth in active and casual categories and planned growth for Sephora to a $2 billion business.
Lamo Footwear Appoints Vice President Of Sales
Lamo Footwear announced John Pierce was appointed as the company’s vice president of sales.
Ross Stores To Open 100 Stores
Ross Stores, Inc. opened 22 Ross Dress for Less and eight dd’s DISCOUNTS stores in 15 different states and Guam in February and March. These new locations are part of the company’s plans to add approximately 100 new stores – 75 Ross and 25 dd’s DISCOUNTS – during fiscal 2022.
Sun Mountain Sports Acquired By Solace Capital
Sun Mountain Sports, the maker of golf equipment and apparel, has been acquired by Solace Capital Partners, based in Los Angeles. The seller was founder Rick Reimers.
