Nike Sues StockX Over NFTs
Nike has filed a lawsuit in the Southern District Court of New York against StockX, accusing the sneaker resale marketplace of using Nike’s trademarks without authorization to market and sell non-fungible tokens (NFTs).
Solo Brands Announces CFO Transition Plan
Solo Brands, Inc. announced that Chief Financial Officer Sam Simmons would begin transitioning from Solo Brands this year. Simmons will remain in the role until a successor is named and then support the transition.
Genesco Announces Share Buyback Plan
Genesco, Inc. announced that its board of directors has authorized a $100 million increase to its existing $100 million share repurchase authorization.
Reports: Amazon And Nike Exploring Bids For Peloton
Amazon and Nike are reportedly exploring separate bids for Peloton, the beleaguered leader in internet-connected at-home bikes and treadmills. Peloton’s shares were trading up more than 30 percent in after-hours trading.
Nike Becomes Equity Investor In The WNBA
Nike, Inc. announced it had become an equity investor in the WNBA (Women’s National Basketball Association), following its 25-year commitment to the league. The WNBA overall raised $75 million from investors.
USA Surfing Names Interim CEO
USA Surfing appointed Brandon Lowery as interim CEO, replacing Greg Cruse.
Costco Appoints President And COO
Costco has named Ron Vachris as president and chief operating officer, according to a regulatory filing He has also joined Costco’s Board of Directors.
Salt Life Opens Store In Sarasota
Delta Apparel, Inc. announced it had opened a retail store for its Salt Life brand in Sarasota, FL. The store marks the company’s ninth in the state and fifteenth in the country.
Kohl’s Takes ‘Poison Pill’ To Thwart Hostile Takeover
Kohl’s said recent takeover offers undervalue its business in light of future growth and cash flow generation, following a review by independent financial advisors. The retailer also has adopted a shareholder rights plan, otherwise known as a “poison pill,” in order to avert a hostile takeover. The plan is effective immediately and expires in February 2023.
Johnson Outdoors Reports 7 Percent Q1 Revenue Decline
Johnson Outdoors reported sales in the fiscal first quarter ending December 31 declined 7 percent to $153.5 million compared to the prior year’s record-high first fiscal quarter. The quarter’s net sales are 20 percent above the pre-pandemic December 2019 quarter’s net sales.
Asics Ventures Invests In Real-Time Sports Analysis Applications
Asics Corporation announced that its investment subsidiary, Asics Ventures Corp., has invested in Edge Limited (RUN.EDGE), a provider of real-time sports video analysis applications, including FL-UX, Pitchbase and Taguru.
Foot Solutions Acquires Happy Feet Plus
Foot Solutions Inc. announced the acquisition of the Florida-based retailer Happy Feet Plus, Inc.
GoPro’s Q4 Revenues Expand 8 Percent
Profits at GoPro Inc. increased 8.2 percent in the fourth quarter on a 9 percent revenue gain.
Deckers Brands Raises Full-Year Guidance
Deckers Brands raised its outlook for its fiscal year ended March 31 after reporting third-quarter earnings topped Wall Street estimates. Sales were in line with estimates. Ugg’s sales in the third quarter increased 7.9 percent while Hoka One One’s grew 30.3 percent.
Skechers Announces Record Fourth Quarter And Annual Sales
Skechers USA, Inc. reported earnings nearly doubled year-over-year in the fourth quarter and came in well ahead of Wall Street’s estimates. Sales in the quarter grew 24.4 percent, driven by increases of 30 percent in both its International Wholesale and direct-to-consumer businesses and 5 percent in Domestic Wholesale.
