SGB Update Sports & Fitness
G8RTech Adds to Medical Advisory Committee
Specialized protective equipment company G8RTech, Inc. appointed Andrew Saleh, MD, MPH, to its Medical Advisory Committee.
StockX: Classic Retro and Run-Inspired Shoes Pace Resale Activity
Classic retros from Adidas, Ugg slippers and running-inspired silhouettes from New Balance, Asics and Nike topped the list of shoes with the most search results on StockX, according to the resale platform’s recently released “Big Facts” quarterly trend report.
Report: October Promos Did Little to Boost Retail Sales as Consumers Focus on Value
Overall value for the price and special sale prices reportedly grew as top factors that influence where consumers shop for gifts in 2023, identified by more than 40 percent of holiday shoppers in a recent holiday purchase intentions consumer survey conducted by Circana.
Nike, Inc. Increases Quarterly Cash Dividend by 9 Percent
The company’s Board of Directors approved a quarterly cash dividend of 37 cents per share on its outstanding Class A and Class B Common Stock.
Target’s Q3 Profits Handily Top Guidance, Sales Drop
Target reported third-quarter earnings were well above guidance but same-store sales fell for the second consecutive quarter and are expected to decline in the fourth quarter amid continued declines in discretionary categories.
Swiftwick appoints new CEO, adds Board Members
Swiftwick hired former Away executive Mark Chou as CEO and appointed Jimmy Leach, former VP of international sales at Toms and K.P. McNeill, CEO of Imogene + Willie and co-founder and former CEO of Billy Reid, to its board.
Bowflex Cuts Fiscal Year Guidance on Low Customer Demand
The company formerly known as Nautilus, Inc. reported fiscal second quarter net sales declined 25.7 percent to $48.7 million in the period ended Sept. 30. The sales decline was said to be driven primarily by lower customer demand.
Fleet Feet CEO Joins Board of Girls on the Run International
Girls on the Run International, a nonprofit that “empowers young girls,” appointed Joey Pointer, CEO of Fleet Feet, to its board of directors.
Nike Reshuffles Leadership in Design, Marketing and Technology
Nike, Inc. implemented a number of executive changes and additions, highlighted by John Hoke becoming chief innovation officer, Martin Lotti assuming the role of chief design officer, Nicole Hubbard Graham rejoining Nike as chief marketing officer, and Muge Erdirik Dogan joining Nike as chief technology officer.
K-Swiss Appoints Barney Waters as International Brand President
K-Swiss hired Barney Waters, its former brand president, as international brand president.
GoPro Hires SVP of Engineering
GoPro hired Vince Nakayama, a former employee at Microsoft, as senior vice president of engineering, effective immediately.
Report: Varsity Brands Exploring IPO
Varsity Brands, the parent of BSN Sports and Varsity Spirit, is exploring a sale or initial public offering (IPO) that could value the company at more than $6 billion, including debt, sources told Reuters.
NRF and CNBC Develop New Retail Monitor; Report October Trends
The new Retail Monitor partnership reported that total October retail sales, excluding automobiles and gas, were down 0.08 percent from September and up 2.57 percent year-over-year (YoY).
Great Britain Q3 Golf Rounds Played Gives Lift to YTD Trend
Sporting Insights noted that January was the only month in 2023 that saw a dip against 2019 figures, while the remainder of the year has, so far, seen 2023 track, and often exceeded, the “booming totals” seen outside lockdowns during the period 2020/22.
On Third Quarter Sales Jump 46.5 Percent and Diluted EPS Triples
On’s DTC channel recorded growth of 54.6 percent to CHF 164.7 million when compared to Q3 2022, reflecting “the strength of the On brand and ongoing ambition for DTC to outgrow wholesale.” Wholesale channel sales increased 42.6 percent to CHF 315.7 million.
