SGB Update Sports & Fitness
Fanatics Terminates Nascar Deal
Fanatics has terminated its ten-year trackside sponsorship deal with Nascar six years early as a result of low race attendances, according to a report from Sports Business Daily.
Gaia Widens Loss In Q3
Gaia Inc. on Monday reported a loss for the third quarter ended September 30 of $10.3 million, or (0.58) cents per share, compared to a net loss of $5.2 million, or (34) cents per share, in the year-ago quarter, and missing analysts’ consensus estimates by 15 cents.
361 Degrees Launches Retail Racing League
Kicking off mid-2019, the league will be comprised of teams from run specialty retailers who will compete at local races over an eight-month period to win the opportunity to run the final race in early 2020 and take home the coveted $50,000+ prize purse.
Darn Tough Vermont Appoints Reps For Southern Region
Darn Tough Vermont, the maker of performance outdoor and lifestyle socks, announced that effective immediately Apex Outdoor Sales is responsible for representing the Darn Tough brand covering all channels servicing Texas, Arkansas, Louisiana, and Oklahoma (TALO).
2018 Rawlings Gold Glove Award Winners Announced
Rawlings Sporting Goods Company, Inc., announced the winners for the 2018 Rawlings Gold Glove Award, honoring the best individual fielding performances at each position in the American League and National League. Winners were unveiled during a live, one-hour “Baseball Tonight – The 2018 Rawlings Gold Glove Award® Announcement Show” on ESPN presented by Dick’s Sporting Goods.
Nike Joins Transgender Equality Group
Nike joined 56 other major companies in issuing a call to respect transgender rights.
Asics Slashes Guidance On Weak Nine-Months Results
Asics significantly lowered its outlook for the year after reporting a steep decline in profits in the nine months on a 4.7 percent revenue decline. The Americas region showed a loss in the nine months on a 17.8 percent sales drop.
Dorel Sports Sees Robust Growth In Q3
Dorel Sports’ revenue grew 6.6 percent in the third quarter to U.S.$219.1 million from U.S.$205.5 million, according to the financial report of its parent, Dorel Industries. Organic revenue grew approximately 11.8 percent.
GoPro’s Sales Improve 1 Percent Sequentially
GoPro Inc. posted a net loss in the third quarter ended September 30 with sales declining 13 percent year-over-year. But sales were up 1 percent sequentially and both the loss and revenues were slightly better than Wall Street’s targets.
Gildan Activewear Impacted By Hurricane Florence In Q3
Gildan Activewear said sales grew 5.3 percent in the third quarter despite Hurricane Florence limiting shipments during September. Earnings were up 7.5 percent, in line with Wall Street’s targets.
HanesBrands Takes Charge For Sears Bankruptcy
HanesBrands, the parent of Champion, took a bad-debt reserve charge of $14 million related to the bankruptcy filing of Sears Holdings Corporation. As a result, GAAP operating profit of $257 million declined 1 percent and GAAP diluted earnings per share were 47 cents per share. HanesBrands lowered its EPS guidance for the year.
Acushnet’s Operating Earnings Expand 18.9 Percent
Acushnet Holdings Corp., the parent of Titleist and FootJoy, reported adjusted EBITDA climbed 18.9 percent in the third quarter as sales gained 6.7 percent. Consolidated net sales in the United States increased by 10.7 percent.
Escalade Q3 Profits Climb 16 Percent
Escalade Inc. reported earnings rose 16.1 percent on higher gross margins and robust e-commerce growth.
Inaugural Racquet & Paddle Sports Conference To Be Held In Orlando
The inaugural Racquet & Paddle Sports Conference, run by the TIA (Tennis Industry Association), will be held from January 23 to 25 in Orlando, FL.
Fox Factory Q3 Revenues Soar 38 Percent
Fox Factory Holding Corp. reported earnings rose 50.9 percent in the third quarter as sales vaulted 38.0 percent.
