SGB Update Sports & Fitness
Adidas To Replace Puma As Italy’s Kit Sponsor
The Italian Football Federation (FIGC) signed a multi-year deal with Adidas, ending its nearly 20-year partnership with Puma.
Peloton Appoints Chief Supply Chain Officer And Chief People Officer
Peloton announced that Andrew Rendich will be joining the company as chief supply chain officer, effective March 16, and Shari Eaton, currently senior vice president, global head of people, has been promoted to chief people officer.
Peloton Testing Subscription Bike Program
Peloton plans to explore a bike subscription plan under various pricing models in select U.S. markets as it seeks new avenues for growth and a path to profitability.
Fanatics, Lids Open Paris Saint-Germain Store In New York City
Paris Saint-Germain, the French multisport club, has opened a flagship at 587 Fifth Avenue, its first boutique in New York City for the international sports club. The store is part of the Club’s partnership with Fanatics and will be opened and operated by Lids.
Velocio Apparel Sold To SRAM
Velocio Apparel, the cycling brand, has announced its sale to SRAM marking the company’s first foray into apparel.
ABG Signs With SportChek To Expand Reebok In Canada
Authentic Brands Group (ABG) announced a new and expanded partnership with Canada’s SportChek chain for the Reebok brand. Through the long-term agreement, SportChek will carry Reebok apparel and footwear across 300 of its corporate-owned stores and complementary e-commerce websites.
Therabody Files Six Lawsuits To Protect Its Intellectual Property
Therabody announced the filing of a lawsuit against the TJX Companies and five additional lawsuits against unauthorized Amazon resellers for patent and trademark infringement on its Theragun and related proprietary technologies.
Wearables Deliver Double-Digit Growth For Q4 And The Year
The worldwide wearables market hit a new record high in the fourth quarter of 2021 (4Q21) as shipments reached 171 million units, up 10.8 percent from the same quarter last year, according to new data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker.
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.
