SGB Update Sports & Fitness
Life Time’s Q2 Profits Surge
Life Time Group Holdings, Inc. raised its earnings guidance for the year after reporting a profit against a loss in the second quarter ended June 30 as adjusted operating earnings grew 115 percent. Revenue gained 21.8 percent.
Asics North America Names VP of U.S. Sales
Asics North America hired industry veteran Michael Dougherty as vice president of U.S. sales, effective immediately. He has over 15 years of global footwear industry experience, including at Clarks and New Balance.
Gap, Inc. Appoints New Athleta CEO
Gap, Inc. hired Chris Blakeslee as president and CEO of Athleta, effective August 7. Most recently, he was president of sister companies Alo Yoga and Bella+Canvas since 2017.
Report: Adidas Seeing Healthy Demand for Unsold Yeezy Product
Adidas has orders worth more than €508 million ($565 million) for 4 million pairs of unsold Yeezy shoes, exceeding the company’s “most optimistic forecast,” according to a new Financial Times report. Healthy demand for the first batch of online sales could help Adidas avoid a major write-down on its remaining stock.
Golf Rounds Played Climb in June
Rounds of golf played advanced 5.5 percent in June and are running up the same 5.5 percent for the first six months of 2023, according to Golf Datatech.
Report: Adidas Accuses Kanye West of Mishandling $75 Million of Marketing Funds
Adidas is seeking to recover $75 million from Ye, formerly Kanye West, related to his alleged mishandling of marketing funds worth $100 million annually, according to Bloomberg. The dispute is in arbitration.
Canada’s Port Workers Union Recommends Labor Agreement to Members
The International Longshore and Warehouse Union Canada (ILWU Canada) plans to recommend members accept a tentative agreement to end the weeks-long strike at British Columbia’s ports, likely ending a standoff that led to a 13-day strike.
RILA Calls Potential UPS Strike “Kryptonite” for Supply Chains
The Retail Industry Leaders Association (RILA) urged a quick resolution of the stalled contract negotiations between UPS and its 340,000 workers represented by the International Brotherhood of Teamsters, describing a potential UPS strike as “kryptonite for supply chains.”
Under Armour Opens Fourth Brand House In London
Under Armour opened a Brand House store on Oxford Street, marking its fourth store in London. Zara, the multi-national retail clothing chain, once occupied the space.
Dick’s Sporting Goods Named U.S. Anchor Retail Partner for Lotto
WHP Global, owner of Italian soccer brand Lotto Sports, reported that Dick’s Sporting Goods would serve as the U.S. anchor retail partner for Lotto’s soccer and tennis products.
Polartec Hires New Sales Manager for Europe
Effective immediately, Polartec hired Sergi Pérez as its new sales manager for Europe.
Vista Outdoor Appoints CEO of Outdoor Products Segment
Vista Outdoor, Inc. hired Eric Nyman as CEO of the company’s Outdoor Products segment and appointed him as a board member, effective August 21. Most recently, Nyman was president and chief operating officer of Hasbro, Inc.
Mips AB Comments on Nasdaq Stockholm Disciplinary Committee’s Fine
Nasdaq Stockholm’s disciplinary committee imposed a fine on Mips AB of two annual fees, equivalent to an amount of SEK 1.7 million as a result of the company’s information disclosure procedures.
Pacsun Opens First Store Dedicated to Activewear
Pacsun opened its first dedicated activewear store in the Mall of America. The company named the 1,500-square-foot space PAC1980 after its newest activewear collection and pays homage to the year the brand was founded.
BodyArmor Founder Acquires Majority Stake in Nobull
Mike Repole, the founder of Vitaminwater and BodyArmor, acquired a majority stake in Nobull, the training footwear and apparel brand. Terms were not disclosed.
