SGB Update Sports & Fitness
Journeys Again the Culprit as Genesco Swings to Q2 Loss on Lower Sales
The overall 2 percent sales decline was driven by an 11 percent decrease at Journeys and a 7 percent decrease at Genesco Brands, partially offset by an increase of 21 percent at Schuh and an increase of 4 percent at Johnston & Murphy.
Fanatics Lands at Academy Sports + Outdoors
Academy Sports + Outdoors announced it entered into a partnership agreement with Fanatics to enhance the retailer’s in-store and online assortment of officially licensed sports merchandise beginning this fall.
Avenatti Loses Conviction Appeal in Nike Extortion Case
The US Court of Appeals for the Second Circuit rejected Michael Avenatti’s claim that no sufficient evidence supported his February 2020 conviction on charges of extortion and honest services fraud for threatening to smear Nike if the company did not pay him millions.
Z Supply Appoints First Chief Communications Officer
The women’s lifestyle apparel and accessories brand hired Erika Klein as chief communications officer, moving from her role as its chief marketing officer, a position she has held for the past six years.
Fitness On Demand Hires CEO
Fitness On Demand, a fitness content provider, hired Andy Peat as CEO.
August U.S. Consumer Confidence Index Decline is Highest in Two Years
U.S. consumer confidence fell the most in two years as pessimism on the labor market, higher borrowing costs and stubborn inflation curbed optimism. The Conference Board continues to expect a recession before the year’s end.
Report: Golf Apparel Has First Monthly Sales Decline in 18 Months at Specialty
Golf Datatech reported that July 2023 retail sales for golf apparel at on- and off-course specialty shops in the U.S. posted their first decline in 18 months, decreasing 3.6 percent versus the year-ago July period.
MC Sports’ Mort Finkelstein Passes Away
Mort Finkelstein, the co-founder of the MC Sports chain, passed away on August 17. He was 93.
Mitchell & Ness Names New CEO as Kevin Wulff Retires
Eli Kumekpor has been named the company’s CEO, effective immediately. Kumekpor was most recently global VP and general manager of the Jordan Brand’s men’s business. He succeeds Kevin Wulff, who is retiring on Friday.
Nomadix Names New Brand Marketing Manager
Nomadix, the maker of The Only Towel You Need, made from post-consumer recycled materials, promoted Elyse Cornett to brand marketing manager, responsible for developing and executing marketing strategies.
Chandler Bats Acquires Emery Glove
Chandler Bats announced the acquisition of custom baseball glove manufacturer Emery Glove Co., benefiting both companies with product diversification and increased opportunity for customer crossover.
Active Brands Group Hires E-Commerce Manager
Sweden-based ABG hired Rohan Callander as e-commerce manager responsible on expanding the DTC business for its portfolio of brands.
Wolverine’s Debt Ratings Lowered by Moody’s
Moody’s Investors Service downgraded the debt ratings of Wolverine World Wide, Inc., reflecting the company’s significant earnings decline in Q2 2023 and Moody’s expectations for continued weak near-term performance. S&P Global Ratings similarly recently reduced its rating.
Ouray Sportswear to Close Colorado Operations Following Sale
Ouray Sportswear is closing its production facility in Englewood, CO, following its sale to Philadelphia-based L2 Brands in January 2023. The closure will affect 154 jobs.
Rally House Continues Growth In New Store Openings
Rally House opened five new stores in five states this past weekend, they follow the seven stores the retailer opened last weekend. It now counts 16 stores opened in August.
