SGB Update Sports & Fitness
Target’s Q3 Profits Handily Top Guidance, Sales Drop
Target reported third-quarter earnings were well above guidance but same-store sales fell for the second consecutive quarter and are expected to decline in the fourth quarter amid continued declines in discretionary categories.
Swiftwick appoints new CEO, adds Board Members
Swiftwick hired former Away executive Mark Chou as CEO and appointed Jimmy Leach, former VP of international sales at Toms and K.P. McNeill, CEO of Imogene + Willie and co-founder and former CEO of Billy Reid, to its board.
Bowflex Cuts Fiscal Year Guidance on Low Customer Demand
The company formerly known as Nautilus, Inc. reported fiscal second quarter net sales declined 25.7 percent to $48.7 million in the period ended Sept. 30. The sales decline was said to be driven primarily by lower customer demand.
Fleet Feet CEO Joins Board of Girls on the Run International
Girls on the Run International, a nonprofit that “empowers young girls,” appointed Joey Pointer, CEO of Fleet Feet, to its board of directors.
Nike Reshuffles Leadership in Design, Marketing and Technology
Nike, Inc. implemented a number of executive changes and additions, highlighted by John Hoke becoming chief innovation officer, Martin Lotti assuming the role of chief design officer, Nicole Hubbard Graham rejoining Nike as chief marketing officer, and Muge Erdirik Dogan joining Nike as chief technology officer.
K-Swiss Appoints Barney Waters as International Brand President
K-Swiss hired Barney Waters, its former brand president, as international brand president.
GoPro Hires SVP of Engineering
GoPro hired Vince Nakayama, a former employee at Microsoft, as senior vice president of engineering, effective immediately.
Report: Varsity Brands Exploring IPO
Varsity Brands, the parent of BSN Sports and Varsity Spirit, is exploring a sale or initial public offering (IPO) that could value the company at more than $6 billion, including debt, sources told Reuters.
NRF and CNBC Develop New Retail Monitor; Report October Trends
The new Retail Monitor partnership reported that total October retail sales, excluding automobiles and gas, were down 0.08 percent from September and up 2.57 percent year-over-year (YoY).
Great Britain Q3 Golf Rounds Played Gives Lift to YTD Trend
Sporting Insights noted that January was the only month in 2023 that saw a dip against 2019 figures, while the remainder of the year has, so far, seen 2023 track, and often exceeded, the “booming totals” seen outside lockdowns during the period 2020/22.
On Third Quarter Sales Jump 46.5 Percent and Diluted EPS Triples
On’s DTC channel recorded growth of 54.6 percent to CHF 164.7 million when compared to Q3 2022, reflecting “the strength of the On brand and ongoing ambition for DTC to outgrow wholesale.” Wholesale channel sales increased 42.6 percent to CHF 315.7 million.
Fleet Feet Fort Myers Acquires Run Florida on McGregor
Fleet Feet Fort Myers owners Janene and Brian Urichko agreed to purchase Run Florida On McGregor from friend and owner John Rinkenbaugh, who will join Fleet Feet Fort Myers as an outfitter.
Decathlon’s Kipsta Brand Signs Football Supply Deal with UEFA
Kipsta, the Decathlon-owned global football brand, will replace Molten as the official ball supplier of the Uefa Europa League and Conference League in the next three-year cycle.
Amped Fitness Adds Five Locations Across Florida
Amped Fitness announced the opening dates of five new gyms in Florida. The former fitness centers were acquired earlier this year and have since undergone a renovation.
Comfort Ones Shoes Acquires Saxon Shoes
Comfort Ones Shoes, the independent footwear chain based in Alexandria, VA., has acquired Saxon Shoes, based in Richmond, VA.
