SGB Update Sports & Fitness
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.
Gildan Activewear Sales Down 8 Percent In Fourth Quarter
Gildan Activewear, Inc. reported net sales declined 8 percent to $720 million for the fourth quarter ended January 1, compared to the prior-year comparable quarter. Activewear sales were down 5 percent to $595 million and sales in the hosiery and underwear category were down 21 percent.
Report: Wilson Golf President Exits
Tim Clarke, president of Wilson Golf since 2007, has stepped down, according to mygolfspy.com. Global R&D director Bob Thurman has reportedly become interim golf general manager.
Nike Asks City Of Portland For Police Security To Reopen Community Store
Nike’s Community Store in Northeast Portland has been closed for weeks because of thefts. The company has offered to contract with, and pay off-duty uniformed Portland Police Bureau officers, in order to reopen the store.
Adidas’ Debt Ratings Downgraded By S&P
S&P Global Ratings followed Moody’s in downgrading the debt ratings of Adidas due to the company’s downward revision of guidance largely tied to the end of its partnership with Kanye West.
USPTA And Tennis Warehouse Expand Official Supplier Deal
The United States Professional Tennis Association inked an expanded multi-year endorsement with the Tennis Warehouse as the Official Equipment Supplier of the USPTA.
Walmart U.S. Posts 8.3 Percent Q4 Comp Store Sales Growth
Walmart U.S. comp sales grew 8.3 percent for Q4 and 13.9 percent on a two-year stack. E-commerce growth was 17 percent and 18 percent on a two-year stack.
Dillard’s Reports Flat Fourth Quarter On Sharp Margin Decline
Dillard’s reported net sales for the fiscal fourth quarter ended January 28 were up slightly to $2.13 billion, compared to $2.11 billion in the year-ago period.
