SGB Update Sports & Fitness
Nike Acquires Virgin Mega
Nike Inc. said it acquired Virgin Mega, a 12-person startup that is part of Richard Branson’s Virgin Group.
Performance Sports Group Lays Off Employees
Performance Sports Group Ltd. announced additional corporate restructuring activities which will result in the company reducing its workforce across several areas and levels of the organization.
Big 5 Fights Off Liquidation Pressures in Q2
Big 5 Sporting Goods reported earnings fell 19.2 percent in the second quarter due to the impact of liquidation sales by Sports Authority and Sport Chalet but they still came in ahead of internal expectations.
Fitbit Exceeds Q2 Views, Reaffirms Full-Year Guidance
Fitbit Inc. reported earnings in the second quarter fell sharply but came in ahead of Wall Street’s estimates for second-quarter sales and earnings.
HanesBrands Q2 Revenues Slip
HanesBrands, the parent of Champion, reported that consistent with the company’s expectations, net sales in the second quarter decreased 3 percent to $1.47 billion.
Big 5’s Q2 Earnings Drop
Big 5 Sporting Goods Corp. reported earnings slid 19.2 percent in the second quarter as same-store sales declined 1.7 percent.
Dorel’s IBD Unit Names US GM, Supply Chain Chief
Cycling Sports Group, which owns Cannondale, named a new supply chain chief and a general manager for its U.S. independent bicycle dealer channel.
Cocona Partners with Point6 on Sock Line
Point6 and Cocona announced an exclusive partnership for wool socks utilizing Cocona’s 37.5 technology.
Academy Sports Donates 5,000 Backpacks to Boys & Girls Clubs of Greater Houston
Academy Sports + Outdoors donated 5,000 total backpacks stuffed with essential school supplies to all 13 Boys & Girls Clubs across the Greater Houston area.
K-Swiss Global Brands to Move HQ to Downtown L.A.
K-Swiss Global Brands (KSGB) announced plans to relocate its global headquarters to the historic Pac Mutual Building in Downtown Los Angeles by January 1, 2017.
Nike and Under Armour Release Dueling Apps
Nike has released its Nike+ app, which gives athletes access to Nike’s signature services.
Nathan Signs Elite Ultrarunners
Nathan, a leader in running essentials, expanded its athlete team with four elite ultrarunners.
Amer Sports Bolsters Americas Marketing Team
Amer Sports, which owns the Salomon, Atomic and Suunto outdoor brands, bolstered its marketing team in the Americas with two hires and new assignment for four others.
Adidas’ Mark King to Host Two Ten Gala
Adidas’ Mark King will chair Two Ten Footwear Foundation’s 77th VIP Dinner and Gala.
Nautilus Inc. Q2 Sales Surge 32 Percent
Fitness equipment manufacturer Nautilus Inc. reported its sales jumped 32 percent for the second quarter 2016 as its recent acquisition of Octane Fitness plus growth from its existing direct and retail segments fueled gains and a larger profit.
