SGB Update Sports & Fitness
Berkshire Hathaway’s Apparel And Footwear Sales Slide 4.5 Percent In 2022
Berkshire Hathaway Corp.’s sales across its apparel and footwear businesses slid 4.5 percent in 2022 compared to 2021 due to inventory reduction efforts in the mass channel, according to the holding company’s annual report. The businesses include Fruit of the Loom, Russell, Spalding, Garan, H.H. Brown Shoe Group, and Brooks Sports.
Hanesbrands Makes Board Of Directors Changes
HanesBrands, Inc. appointed Mark Irvin, shown, to its board of directors. Bobby J. Griffin, a board director since 2006, plans to retire when his current term ends timed with HanesBrands 2023 annual meeting of stockholders.
NGF Sees Biggest Golf Participation Jump Coming In Juniors
The National Golf Foundation is reporting that the overall golfer base has gotten more diverse as participation levels have increased the past several years. NGF sees the biggest participation increases over the past three years have come in the junior ranks.
Swing Racquet + Paddle Inks Wilson Deal For “Sportstainment” Venue
Swing Racquet + Paddle has inked a deal with Wilson Sporting Goods Co. as a leading sponsor a “first-of-its-kind dedicated multi-racquet & paddle sport and Sportstainment venue.”
Dillard’s, Inc. Declares Cash Dividend
The Dillard’s, Inc,’s board of directors declared a cash dividend of 20 cents per share on the Class A and Class B Common Stock of the company.
Fox Factory Sees Q4 Sales Dip In Specialty Sports Group Segment
Fox Factory Holding Corp. reported sales grew 19.4 percent in the fourth quarter ended December 30 as a gain of a 38.5 percent increase in its Powered Vehicles Group segment offset a 1.9 percent decrease in sales in Specialty Sports Group bicycle components segment. The weakness in the Specialty Sports Group was attributed to a return to seasonality.
Adidas Opens First Retail Store In The Bronx
Adidas opened its first retail store in the Bronx today at The Mall at Bay Plaza.
Academy’s Debt Ratings Raised By Moody’s
Moody’s Investors Service upgraded Academy, Ltd.’s debt ratings to reflect Academy’s continued outperformance relative to expectations and the overall retail industry.
Planet Fitness’ Q4 Tops Wall Street Targets
Planet Fitness, Inc. reported fourth-quarter profits more than doubled, beating expectations and forecasted an upbeat full-year outlook following strength in its December national sales, which helped to drive “record membership growth.”
Adidas Renews Partnership With Major League Soccer
Adidas renewed a multi-year extension of its partnership with Major League Soccer.
Delta Galil Appoints President Of Branded Division
Delta Galil Industries, Ltd. hired Mark Stocker as president, Delta Galil Branded Division. Stocker will be based in New York, reporting directly to CEO Isaac Dabah.
Janji And Oiselle Brands To Merge
Janji, a Boston-based running apparel brand, and Oiselle, a Seattle-based women’s athletic apparel company, have entered into a collaborative partnership through a merger facilitated by Digsbury Ventures.
Escalade Sports Sees Mid-Teens Q4 Sales Decline On Soft Demand, Higher Inventories
Escalade, Inc. reported fourth quarter revenues net sales decreased 1.8 percent to $72.1 million. Organic sales, excluding acquisition contributions, declined 14.4 percent in the quarter.
Garmin Q4 Revenues Decline 6 Percent On Sharp Decrease In Fitness, Aviation
Garmin Ltd. posted consolidated revenue of $1.31 billion in the fourth quarter ended December 31, a 6 percent decrease compared to the prior-year quarter.
Wolverine Worldwide Forecasts Low-Single-Digit Growth For 2023
Wolverine Worldwide’s fourth-quarter sales grew 8.4 percent as strong double-digit growth at Merrell and Saucony offset a steep decline at Sperry. Overall results were in line with recently-updated guidance. Guidance for the current year calls for margin pressures to continue in the first half of the year to further reduce inventories and low-single-digit growth on a currency-neutral basis for the overall year.
