SGB Update Sports & Fitness
Adidas Appoints New Managing Director For China
Adidas promoted Adrian Siu to managing director, Greater China. Previously, he was senior vice president – commercial for Adidas in the region.
Adidas Sees Modest Q4 Sales Decline On Supply Chain Challenges
Adidas reported currency-neutral sales declined 3 percent in the fourth quarter due to supply shortages as a result of the lockdowns in Vietnam last year, the challenging market environment in Greater China and pandemic-related lockdowns in the Asia-Pacific. However, currency-neutral sales for 2021 rose 16 percent and Adidas projected will increase at a rate between 11 percent and 13 percent in 2022.
Topgolf’s Debt Ratings Upgraded
S&P Global Ratings raised its debt ratings on Topgolf, which is owned by Callaway Golf, due to Callaways’ move to suspend an opportunistic refinancing transaction that would have enabled it to consolidate all of the group’s debt at the parent level.
Adidas Closes Stores In Russia
Adidas AG is closing its stores in Russia and suspending its online shop, joining Nike, Puma and a wide range of Western businesses that have halted operations in the country following its invasion of Ukraine.
Near-Record Import Levels Expected At U.S. Ports As Congestion Continues
Imports at the nation’s major retail container ports are expected to be at near-record levels this spring and summer as consumer demand and supply chain challenges continue to result in congestion, according to the monthly Global Port Tracker* report released by the National Retail Federation and Hackett Associates.
Topgolf To Open First Greater Los Angeles Area Venue
Topgolf Entertainment Group is set to open its first Greater Los Angeles area venue in Ontario, CA on March 11.
Dick’s SG’s Again Tops Expectations In Q4
Dick’s Sporting Goods reported earnings on an adjusted basis grew 50 percent in the fourth quarter ended January 29 on a 5.9 percent same-store sales gain. Both earnings and sales topped Wall Street’s guidance with the period marking Dick’s largest sales quarter. Earnings are expected to decline in the current year with comps expected in the range of negative 4 percent to flat, but EPS guidance was ahead of Wall Street targets.
Kohl’s Provides Key Updates On Strategic Growth Initiatives
At Investor Day, Kohl’s announced new long-term financial targets and growth strategy that included continued growth in active and casual categories and planned growth for Sephora to a $2 billion business.
Sun Mountain Sports Acquired By Solace Capital
Sun Mountain Sports, the maker of golf equipment and apparel, has been acquired by Solace Capital Partners, based in Los Angeles. The seller was founder Rick Reimers.
Accell Group’s Revenues Climb 6.2 Percent In 2021
Accell Group reported EBIT grew 47 percent in 2021 on a 6.2 percent sales gain.
Under Armour, Puma, Helly Hansen And Canada Goose Suspend Operations In Russia
Under Armour, Canada Goose, Helly Hansen and Puma have followed Nike in suspending operations in Russia in response to Russia’s invasion of Ukraine.
Berkshire Hathaway’s Apparel And Footwear Sales Expand 25.3 Percent In 2021
Berkshire Hathaway Corp. sales across its apparel and footwear businesses increased 25.3 percent in 2021 compared to 2020, according to the holding company’s annual report. The businesses include Fruit of the Loom, Garan, H.H. Brown Shoe Group, and Brooks Sports.
Fabletics To Open 30 New Stores In 2022
Fabletics announced plans to open 30 new store locations in 2022. The activewear brand co-founded by actress Kate Hudson currently has over 75 locations
Hibbett’s Q4 Comps Dip 1 Percent
Hibbett Inc. reported fourth-quarter earnings declined 23.9 percent as same-store sales dipped 1.0 percent. Results and guidance were in line with an update given on February 18.
Xponential Fitness’ Sales Jump 78 Percent In Fourth Quarter
Xponential Fitness Inc. reported sales grew 78 percent in the fourth quarter and 45 percent in the year ended December 31.
