SGB Update Sports & Fitness
Adidas To Start Selling Yeezy Product At End Of May
Adidas reported it would start selling its stockpile of millions of unsold Yeezy sneakers later this month from its defunct partnership with rapper Kanye West. Proceeds from the sale will benefit Antiracism organizations.
Dunlop Sports Sees Revenue Outlook Reduced Despite Strong Q1 Growth
Sumitomo Rubber Industries, Ltd. Has reported that sales revenue in its Dunlop Sports business increased 19.5 percent to ¥35.5 billion ($267 million) in the first quarter. Business profit increased 37.2 percent to ¥5.5 billion ($41 million).
Lululemon Makes Minority Investment in Recycling Start-Up
Lululemon is making a minority investment in Australian start-up Samsara Eco, which uses plastic-eating enzymes to recycle apparel waste. As part of a multi-year partnership, Samsara Eco will work with Lululemon to create new recycled nylon 6.6 and polyester.
KMD Closes NZ$310 Million Debt Refinancing Tied To Sustainability
KMD Brands Limited, the parent company to the Rip Curl, Oboz and Kathmandu brands, has successfully refinanced its existing debt facilities with NZ$310 million of syndicated sustainability-linked multi-currency revolving facilities.
Wilson To Expand Football Production Facility In Ohio
Wilson is building a manufacturing plant in Ada, OH, just east of its current factory that manufactures NFL footballs. The site will double its production capacity.
Ross Stores Posts 10 Percent Earnings Growth As Q1 Comps Inch Up 1 Percent
Ross Stores, Inc. reported sales for the first quarter of 2023 were $4.5 billion for the 13 weeks ended April 29. Comparable store sales were up 1 percent. EPS were $1.09 on net earnings of $371 million for the quarter.
Pacsun Sets Leadership And Board Changes
Pacsun announced a series of leadership changes whereby Brie Olson, Pacsun co-chief executive officer and Board member, will be appointed chief executive officer, effective June 15. Mike Relich will retire as co-CEO and will continue to serve on the Pacsun Board of Directors in a new role as vice chairman. Russell Bowers will be appointed chief operating officer and will continue to serve as Pacsun chief financial officer,
CPSC Approves Peloton Tread+ Rear Guard Repair
The U.S. Consumer Product Safety Commission (CPSC) approved a rear guard repair for Peloton’s recalled Tread+ treadmill.
Shimano Recalls Pro Vibe Alloy Stems For Road Bikes
In cooperation with the U.S. Consumer Product Safety Commission (CPSC), Shimano North America recalled Shimano Pro Vibe Alloy stems for road bikes. The recalled bike stems could crack and break while in use.
Cycle Force Recalls Adult Bike Helmets Due To Risk Of Head Injury
Cycle Force, in cooperation with the U.S. Consumer Product Safety Commission, recalled certain Ventura Adult Bike Helmets. The recalled helmets do not comply with the positional stability requirement of the CPSC.
LL Bean’s New HQ Grand Opening Set For June 15
L.L.Bean will celebrate the completion of its new 390,000-square-foot corporate headquarters in Freeport, ME on June 15, marking the close to an eight-year, $110 million campus redevelopment in the company’s longtime hometown.
Walmart Rides Strong Q1 Comp Sales Growth To 13 Percent Adjusted EPS Gain
Walmart, Inc. reported first-quarter consolidated revenue of $152.3 billion, up 7.6 percent, or 7.7 percent in constant-currency. Walmart U.S. posted 7.4 percent comp store sales growth. Adjusted EPS was up 13 percent to $1.47 a share.
Pou Chen To Lay Off 5,700 Workers In Vietnam
Taiwan’s Pou Chen, the world’s largest maker of branded athletic footwear, has announced layoffs for 5,744 workers at factories in Vietnam, according to multiple reports.
Wahoo Fitness Wipes Debt Line Clean With Recap
Wahoo Fitness reported it had eliminated all its debt with a recapitalization led by founder Chip Hawkins. Terms were not disclosed.
Golftec Relocates San Diego Center
Golftec relocated its instruction and club fitting center in San Diego.
