SGB Update Sports & Fitness
Puma North America Hires Long-Time Adidas Veteran as SVP Wholesale Sales
Puma announced the appointment of industry veteran Andrew “Rudi” Rudolph as senior vice president, wholesale of North American sales.
Report: September Mall Traffic Was Tough but Promotions Drove Some Big Gains
Placer.ai reported that the year-over-year visit gap to indoor malls and open-air shopping centers widened, following the negative foot traffic trends in the wider retail sector. The company said outlet malls continued to lag behind the other formats in year-over-year visits.
Castelli Parent Takes 70 Percent Stake in Zoot
MVC Group, which produces outdoor and cycling clothing under the Castelli, Karpos and Sportful brands, has acquired a 70 percent stake of San Diego-based triathlon brand Zoot.
NRF Economist Says U.S. Economy Still Shows Resilience
The U.S. economy continues to grow despite U.S. labor disputes and the uncertainty created by Congress, adding to the ongoing challenges of inflation and high interest rates, NRF Chief Economist Jack Kleinhenz said.
Adobe Sees Online Holiday Sales Climbing 4.8 Percent With Record Discounts
U.S. online holiday sales from November to December 2023 will rise 4.8 percent year-over-year (YoY) to $221.8 billion, marked by retailers offering deep discounts and increased online shopping spend, according to Adobe’s forecast.
Levi’s Q2 Impacted By U.S. Wholesale Weakness, Beyond Yoga Impairment Charge
Levi Strauss & Co. said it expects earnings for its fiscal year ended November 30 to come in at the low end of prior guidance while citing continued weakness within the U.S. wholesale channel. The company also absorbed an impairment charge of $90.2 million related to its 2021 acquisition of Beyond Yoga.
Feetures Breaks Ground on New Warehouse Facility
Features broke ground at the end of September for its new 60,000-square-foot warehouse located in Hickory, NC.
Vittoria Opens a New Cotton Bike Tire Factory in Bangkok
This €20 million investment expands Vittoria Tyres Thailand (VTT) factory premises from 36,000 square meters to 51,000 square meters in the Bangpoo industrial district, near VTT’s headquarters.
Vista’s Outdoor Products Spin-Off Will Debut as Revelyst, Inc.
The company will trade on the New York Stock Exchange under the ticker symbol “GEAR” once the separation from the Sporting Products segment is complete.
Inov-8 To Rebrand with New Name and Logo
Inov-8, founded in 2003, is marking its 20 years in the active outdoor industry, manufacturing running, hiking and gym gear, with a rebrand designed to support accelerated growth.
Sports Direct’s Parent Company Plans New HQ
Frasers Group, the U.K.-based parent of Sports Direct, submitted a planning application for a new global headquarters campus at Ansty in Rugby, Warwickshire. The company’s current headquarters are in Shirebrook, Derbyshire.
HanesBrands and University of Cincinnati Extend Partnership
HanesBrands and the University of Cincinnati signed a multi-year extension to their primary apparel partnership that gives HanesBrands exclusive rights across all retail channels to design, manufacture and distribute University of Cincinnati fanwear.
Suunto Unveils Plans for U.S. Direct Distribution
Suunto has implemented a new system to directly distribute its products to U.S. retailers, one of the Finnish company’s key initiatives in expanding its business in North America.
On Plans to Double Sales and Reach 60 Percent Gross Margin by 2026
The company plans to grow 2026 net sales to at least CHF3.55 billion, or approximately $3.95 billion at the average September 2023 conversion rate, reflecting a CAGR of over 26 percent based on its 2023 forecast.
Swag Golf Raises $10 Million in Funding Round
Swag Golf, a golf accessory, equipment and apparel company based in Northbrook, Il, closed a $10 million growth round led by Verance Capital, a New York-based growth investment firm focused on sports and entertainment.
