SGB Update Sports & Fitness
Wolverine Cuts Outlook On Supply Chain Disruption, Heightened Promotions
Wolverine World Wide, Inc. saw strong double-digit gains at Merrell in the third quarter but overall sales and profitability came in below plan due to supply chain and promotional pressures. The company reduced its guidance for the year.
Recall: Thule Camber 2 Bike, Thule Camber 4 Bike, Thule Range 4 Bike
Thule recalled its Camber 2 bike (model #905800), Camber 4 bike, (model #905600) and Range 4 bike, (model #905700), in partnership with the National Highway Traffic Safety Administration (NHTSA) and Health Canada in an affected manufacturing date code range.
Adidas Slashes FY Outlook After Kanye West Split
Adidas further slashed its 2022 outlook as it weighed the impact of its split from Ye, the rapper formerly known as Kanye West, while sluggish demand in China continued to impact sales.
Imports Slow As Holiday Season Ramps Up
Imports at U.S. container ports continue to slow from the records set earlier in 2022, according to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates.
RunSignup Sees Race Registration Improving
RunSignup in an October industry update said aggregated registration data continue to show signs of gradual improvement for the endurance race industry after the long-tail effects from the pandemic.
PXG Opens Store In Indiana
PXG opened its first retail store in Indianapolis, IN.
Kohl’s CEO Steps Down To Take President Role At Levi Strauss
Michelle Gass, CEO of Kohl’s, is stepping down early next month to become the president of Levi Strauss & Co. Levi’s said Gass would start work and join its Board on January 2. The Board began a succession plan for her to succeed Chip Bergh as president and CEO in the next 18 months.
Breaking: Arne Freundt Takes Reins Of Puma SE
The Supervisory Board of Puma SE has decided that Arne Freundt, Puma’s chief commercial officer, will become chairman of its Management Board and CEO of Puma SE effective immediately after announcing that Bjørn Gulden would become CEO of Adidas AG.
USA Triathlon Names Chief Executive Officer
USA Triathlon named Victoria Brumfield as CEO. She has been the organization’s interim CEO since early September 2022.
Planet Fitness Raises Guidance Slightly On Strong Third Quarter
Planet Fitness Inc. slightly raised its outlook for earnings and sales for the year as system-wide same-store sales in the third quarter ended September 30 increased 8.2 percent.
Peloton And Echelon Settle All Pending Litigation
Peloton Interactive, Inc. and Echelon settled all pending litigation between the businesses. As a result, Echelon agreed it would cease using Peloton’s patented leaderboard technology in its on-demand classes.
Adidas Makes It Official With Gulden’s CEO Appointment
Adidas AG reported that Bjørn Gulden, Puma’s CEO, will be appointed as a member of the executive board and CEO of Adidas AG, effective January 1, 2023.
Inov-8 Opens First Showroom In Europe
UK-based Inov-8 opened its first showroom in Annecy, France. “The showroom will be a basecamp for all customers, media contacts, friends, and family living within the heart of the French Alps,” said Manu Fedon, Inov-8 sales manager for France.
Fanatics Hires Director, Business Development, Australasia
Fanatics hired Tyler Emsden as director of business development across Australia and New Zealand, responsible for growing the business and building partnerships with sports teams, leagues and organizations.
Adidas Debt Ratings Outlook Revised To Negative
S&P Global Ratings reduced its debt ratings outlook to negative from stable due to the company’s recent operating performance deterioration and increased leverage.
