SGB Update Sports & Fitness
Amped Fitness Adds Five Locations Across Florida
Amped Fitness announced the opening dates of five new gyms in Florida. The former fitness centers were acquired earlier this year and have since undergone a renovation.
Comfort Ones Shoes Acquires Saxon Shoes
Comfort Ones Shoes, the independent footwear chain based in Alexandria, VA., has acquired Saxon Shoes, based in Richmond, VA.
Beyond Yoga Opens Store in Chicago
Beyond Yoga, acquired by Levi Strauss in 2021, opened a store in Chicago, representing its sixth location and first outside of California.
Michigan Consumer Sentiment Falls to Six-Month Low
Consumer sentiment fell for the fourth month, according to a preliminary report published for the Michigan Consumer Sentiment Index. The Index came in at 60.4, down 3.4 points, or 5.3 percent, from the October final.
Nike Hires Amazon Executive as Chief Technology Officer
Nike, Inc. recruited Muge Erdirik Dogan, a longtime fashion executive at Amazon, as chief technology officer. Jenny Freshwater, most recently Amazon’s vice president of traffic and marketing technology, will replace Dogan as VP of Amazon Fashion & Fitness.
Garmont Names New CEO
Italian outdoor footwear brand Garmont International hired Andrea Nalesso as CEO. Nalesso takes over from Pierangelo Bressan, who remains chairman of the board and a Garmont shareholder.
Foresight Sports Hires Digital Content Consultant
Revelyst, Vista Outdoor’s Products segment, reported entering a consulting agreement with Andrew Stalbow. Initially, he will lead digital content and gaming for its San Diego-based golf brand, Foresight Sports.
OrderMyGear Acquires DistributorCentral
OrderMyGear (OMG), based in Dallas, TX, announced it acquired DistributorCentral, a technology provider for suppliers and distributors in the promotional products industry.
Kohl’s Lays Out Board of Directors Transition Plan
Board Chair Peter Boneparth will retire from Kohl’s at the end of his current term in May 2024, and Michael Bender will become Board chair upon Boneparth’s retirement. The Board also appointed Adolfo Villagomez as a new independent director, effective November 7
CTC Sees Helly Hansen Sales Up Big in Q3; SportChek Q3 Comps Down
Parent company Canadian Tire reported SportChek’s Q3 comparable sales were down 7.4 percent as strong growth in team sports was offset by weakness in more discretionary categories. Helly Hansen revenue was up 28.2 percent in Q3.
Wolverine World Wide Accelerates Transformation Plan as Q3 Plummets
The acceleration of the initiatives comes as the company reported dismal third quarter results that reflected an ongoing business that was down in strong double digits across most of the enterprise.
HanesBrands Sees 19 Percent Fall in Champion Sales
HanesBrands, Inc. reported sales fell 9.5 percent in the third quarter, dragged down by a 19 percent decline at the Champion brand. HanesBrands’ sales were slightly below guidance while EPS was in line with targets on improving margins and expense reductions.
Yeti Lifts EPS Outlook on Strong Margins and Drinkware Strength
Yeti Holdings, Inc. raised its EPS guidance for the year after seeing margins in the second quarter top expectations, expanding over 600 Basis Points. Q2 Sales were flat as a 6 percent gain in drinkware sales offset a recall-related decline in cooler sales.
Topgolf Callaway Brands Shares Fall on Lower Full-Year Guidance
MODG shares fell more than 20 percent overnight after losing nearly 5 percent of their value during the day on Wednesday. The company cut its full-year guidance on weaker-than-expected Topgolf same-venue sales growth.
NRF Economist: Holiday Sales Will Have a ‘Whole New Set of Dynamics’
NRF Chief Economist Jack Kleinhenz said job gains have “slowed but not tumbled,” with payrolls climbing by 150,000 positions in October and the three-month moving average at 204,000 despite downward revisions for August and September.
