SGB Update Sports & Fitness
Retail Imports Set Multiple New Records Ahead of Tariffs
With retail sales rising and retailers rushing to bring merchandise into the country ahead of proposed new tariffs on products from China, imports at the nation’s major retail container ports have set two new records this summer and are expected to set another this month, according to the monthly Global Port Tracker report released Thursday by the National Retail Federation and Hackett Associates.
SFIA Announces Six Start-Up Challenge Finalists For 2018 Competition
Six finalists have been selected by the Sports & Fitness Industry Association (SFIA) to present their start-up company at the 2018 SFIA Start-Up Challenge. Due to the interest and quality of this year’s applicant pool, SFIA has expanded the competition to recognize six, rather than five, finalists.
Adidas Q2 Earnings Top Estimates On China And U.S. Growth
Powered by double-digit growth in China and the Americas, Adidas reported second-quarter earnings topped analyst expectations and confirmed the company’s outlook for the year. Reebok’s sales were again down and a charge was taken against the brand due to an accounting correction.
Adidas To Sponsor Thomas University
Adidas has struck a deal to partner with Thomas University, based in Thomasville, GA, for the next three years.
Sequential Brands Group Hits Q2 Income Target, Beats On Revenue
Sequential Brands Group Inc. reported net income for the second quarter ended June 30 of $7.2 million, or 11 cents per diluted share. Under the company’s previous ASC 605 revenue reporting standard, however, non-GAAP net income for the second quarter 2018 would have been $7.8 million or 12 cents per diluted share, flat compared to second quarter 2017 but hitting the Wall Street target.
Tennis Industry Association Opposes New Tariffs On Imported Goods
The Tennis Industry Association is opposing proposed tariffs on products that are of specific concern to the tennis and racquet sports industry.
Delta Apparel Appoints New Board Member
Delta Apparel Inc. appointed Anita D. Britt to the company’s board of directors.
Delta Apparel’s Q2 Earnings Improve
Delta Apparel reported a 9 percent gain in earnings on improving margins in the company’s basics segment and an 8 percent revenue gain.
Under Armour Returns As Austin Marathon Sponsor
High Five Events announced Under Armour Inc. has returned as the presenting sponsor of the Austin Marathon.
Salomon Appoints Lazzaroni To Lead Nordic Ski Business In The Americas
Salomon has appointed Robert Lazzaroni as Nordic regional commercial manager for the Americas, effective August 27. Lazzaroni, a 25-year industry veteran and most recently the nordic domestic program director for U.S. Ski & Snowboard, will direct Salomon’s nordic business in the United States, Canada and Latin America.
Under Armour Appoints Mohamed El-Erian To Board
Under Armour Inc. announced that Mohamed A. El-Erian has joined the company’s board of directors, effective Oct. 1, 2018. Dr. El-Erian is the former CEO and co-chief investment officer of PIMCO, a role he held from 2007 to 2014, and currently serves as the chief economic advisor at Allianz, the corporate parent of PIMCO.
Divestitures Drop Newell Brands’ Q2 Revenue
Newell Brands on Monday announced revenue from continuing operations of $2.2 billion, down from $2.5 billion in the same quarter a year ago due to the completed divestitures of The Waddington Group and Rawlings Sporting Goods Co. Inc. and divestiture processes initiated on other assets.
Dick’s To Open in Raleigh
Dick’s Sporting Goods will open a new store in Raleigh, NC, in August.
Asics Profits Tumble In Six Months
Asics reported earnings fell 70.7 percent in the six months ended June 30 as sales slid 5.4 percent. In the American region, sales plunged 22.4 percent.
Randa Accessories Ups Bid For Perry Ellis
Perry Ellis International Inc said the company had received a revised buyout offer of $28.90 per share from Randa Accessories Leather Goods.
