SGB Update Sports & Fitness
Kohl’s Slashes Guidance On Planned Inventory Reduction
Kohl’s, Inc. cut its full-year forecast due to plans to increase promotional activity to reduce inventory levels. The department store chain reported second-quarter results slightly ahead of expectations but indicated a weakening economy and high inflation are weighing on sales growth.
Linus Bikes Signs New Canadian Distribution Partner
Linus announced that Noru XPLR, Inc. is now an exclusive authorized distributor of Linus Bike products for Canada.
Target’s Q2 EPS Misses Wall Street Targets
Target Corp. reported a steep decline in earnings due to planned markdowns to support the chain’s inventory reduction efforts. Total sales grew 3.3 percent due to steady traffic growth on top of unprecedented increases over the last two years. The discounter maintained its guidance for the year.
Murf Electric Bikes Hires Marketing Director
Murf Electric Bikes hired Ally Losness as marketing director, bringing over a decade of brand launch and growth experience to the position.
PXG Opens First Custom Build And Distribution Center In U.K.
PXG recently opened its first custom build and distribution center in the United Kingdom.
Lids Opens First Store In Australia
Lids opened its first NBA store in Melbourne, Australia, with plans to open a second store in Sydney, Australia, later this year.
Nobull To Become NFL’s Combine Apparel Supplier
The National Football League said Nobull will become the league’s official scouting Combine training partner and on-field supplier of apparel and headwear. The change comes a year after New Era replaced Under Armour as the sponsor.
Fleet Feet Opens Second Location In Fort Wayne
Fleet Feet announced the opening of its latest store in Fort Wayne North, IN. This is the second Fleet Feet in Fort Wayne and the ninth store in Indiana.
Signa Sports Sales Climb 29 Percent In Q3
Signa Sports United N.V. (SSU) reported sales in its third quarter ended June 30 grew 29 percent, boosted by the full contribution of recently acquired businesses WiggleCRC and Tennis Express. The Berlin-based online platform reduced its guidance for the year due to continued supply chain challenges and weaker consumer spending.
Academy Sports Opens First Store In Virginia
Academy Sports + Outdoors announced the opening of its first Richmond, VA. The 58,075-square-foot store is located at 11861 W. Broad Street in The Corner at Short Pump.
Li Ning’s Sales Climb 22 Percent In First Half
Li Ning Company, Ltd. reported net income grew 11.6 percent in the half ended June 30 on a 21.7 percent revenue gain. The improvement came despite the “impact of repeated outbreaks of the COVID-19 pandemic and significant increase in raw material prices that led to certain challenges to the operating environment.”
On Lifts Guidance On North America Momentum
Swiss running brand On raised its earnings and sales guidance for the year after reporting quarterly results again exceeded expectations. Sales in the second quarter climbed 66.6 percent, driven by strong wholesale growth of 70.1 percent, DTC growth of 60.8 percent and continued momentum in the North America region, growing at 102.5 percent.
Fila Holdings Q2 Earnings Slump On Gross Margin Pressures
Korea-based Fila Holdings Corp. reported earnings declined 15.7 percent in the second quarter ended June 30 despite a 15.0 percent sales gain.
Under Armour Named Official Outfitter Of Spire Academy
Spire Academy, located in Geneva, OH, said Under Armour has become the official outfitter of its student-athletes.
Nike Closes Offices For “Well-Being Week”
Nike, Inc., for the second consecutive year, has closed its global corporate office from August 15-19 for “Well-Being Week,” for Nike employees to “relax and recharge.”
