SGB Update Sports & Fitness
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.
Fleet Feet Fort Myers Acquires Run Florida on McGregor
Fleet Feet Fort Myers owners Janene and Brian Urichko agreed to purchase Run Florida On McGregor from friend and owner John Rinkenbaugh, who will join Fleet Feet Fort Myers as an outfitter.
Decathlon’s Kipsta Brand Signs Football Supply Deal with UEFA
Kipsta, the Decathlon-owned global football brand, will replace Molten as the official ball supplier of the Uefa Europa League and Conference League in the next three-year cycle.
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.
