All Sporting Goods Intelligence articles in Volume 34, Issue 43+44 – Page 3
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Short stops
Short Stops Week 46, 2023
EXECUTIVE CHANGES +++ Craig Hodges, Global VP of Corporate Affairs and Communications at VF Corp., is leaving the company after nearly 10 years, effective Nov. 20, to be replaced by Colin Wheeler, formerly VF’s VP of Corporate Affairs and Communications for the Americas +++ Xero Shoes has hired Kristina Funck ...
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News briefsUEFA selects Kipsta footballs for Europa League and Europa Conference League
Kipsta, the Decathlon Group’s brand for all team sports, will provide the balls for the UEFA Europa League and the UEFA Europa Conference League from the 2024-2025 season. The agreement is valid for three years. From Portugal to Azerbaijan, from the Faroe Islands to Turkey, official match balls designed and ...
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News briefsReebok adds world champ boxer to its roster
As part of its strategy to reclaim its position in sports culture, Reebok has announced a new sponsorship deal with world champion boxer Shakur Stevenson. The partnership centers around “Move Like Shakur”, a collection of footwear, apparel and accessories for the gym, home and more. The custom boxing boots for ...
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ArticleWolverine Worldwide lowers outlook as overhaul moves forward
Wolverine Worldwide’s Q3 results weren’t pretty, but they did exceed Street estimates on several fronts as the Merrell, Saucony, and Sweaty Betty parent moved forward with numerous initiatives aimed at reducing annualized costs by $215 million and turning the company’s fortunes in the right direction again. Net income slid ...
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News briefsMizuno sees sales gains in all geographies, regions
Operating profit rose 14.2 percent to 9.3 billion Japanese yen (€57.7m) for the six months ended Sept. 30 at Mizuno. Net income expanded 21.0 percent to ¥7.8 billion (€48.4m) as total revenues grew by 15.4 percent to ¥114.5 million (€710.4m). Year-over-year gross margin improved by 90 basis points to 40.6 ...
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News briefsHanesBrands’ activewear operating profit slips by 54 percent in Q3
Operating profit for HanesBrands’ Activewear segment fell 54 percent to $24,853,000 from $53,491,000 for the period ended Sep. 30. Activewear sales tumbled 17 percent to $383,600,000 from $461,043,000 as the segment experienced declines across most channels and brands that were driven by ongoing category headwinds, soft consumer demand and excess ...
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News briefsAthleta introduces new experiential fitness series for women in the US
Athleta, a brand of Gap Inc., announced a new experiential fitness series for women, Move with Athleta, beginning Nov. 16 in New York City and continuing through 2024 in cities across North America, including Los Angeles, Miami, Boston and San Francisco. The series is rooted in Athleta’s ...
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News briefsBid under review for 25 French Intersport, two Go Sport stores
According to France’s Authority on Competition (Autorité de la Concurrence), Schiever, an international retail group based in Burgundy, is looking to acquire full control of 25 Intersport stores (20 retail stores and five outlets) and two Go Sport stores – as well as four stores of the ready-to-wear chain Blackstore. ...
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News briefsAllbirds’ turnaround plan remains bumpy
Citing a negative impact on revenues due to its transition to a direct selling model in both Canada and South Korea, Allbirds now expects its annual revenues to sink by 15 to 22 percent to a range of $66 to 72 million. The annual adjusted Ebitda loss is now pegged ...
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ArticleAlpargatas reports Q3 loss despite improving trends
Despite reporting 23 percent less unit volume to 51 million pairs, a 10.4 percent drop in period revenues to $896 million (€171.7m), and a net loss of R$8.5 million (€1.6m), Alpargatas realized improving trends in product sellthrough levels in the period ended Sept. 30. The result was a normalization of ...
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ArticleTopgolf Callaway reports earnings decline, lowers forecast
Topgolf Callaway lowered guidance after a “challenging” third quarter where like-for-like sales at its driving range venues came in lower than expected, leading to shares in the golf equipment and accessories maker to slump by almost a fifth in after-market trading in the US. Revenue at its recreational driving range ...
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ArticleUnder Armour drops FY sales outlook on continued US woes
Under Armour is now forecasting annual revenues to decline by 2 to 4 percent, down from prior guidance of “flat to up slightly,” but gross margin to improve by 100 to 125 basis points instead of a 25- to 75-basis-point increase. The group’s outlook on FY operating income remains in ...
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ArticleAdidas inventory cuts improve; sees strong demand for Samba, Gazelle
Adidas posted third-quarter figures in line with preliminary estimates released in October and added that its inventory-reduction plan had gone a little better than expected in the latest three-month period, also noting that retailers were “visibly” interested in its autumn/winter 2024 range, especially around its Samba, Gazelle and Spezial ranges. ...
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ArticleWolverine Worldwide accelerates transformation plan
Wolverine World Wide, Inc., the owner of a large brand portfolio, including Merrell, Saucony, Sperry, Sweaty Betty, Hush Puppies and Wolverine, announced actions to accelerate its ongoing strategic transformation into a “brand-led and consumer-obsessed growth company.” Chris Hufnagel, President and CEO, said: “We are moving with speed and urgency to ...
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ArticleIntersport Germany sells Sport Voswinkel to Italian retailer
Intersport Deutschland eG (Intersport Germany) announced on Nov. 8 that it has signed an agreement on the sale of Sport Voswinkel GmbH & Co. KG to Cisalfa Sport S.p.A. by the end of 2023. “We are very pleased that we can place Sport Voswinkel GmbH & Co. KG into the ...
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News briefsGerman consumer sentiment worsens
Despite a certain stabilization in the economy as a whole, consumer sentiment in Germany fell noticeably for the first time in twelve months in November, according to the latest consumer barometer from the German Retail Association (HDE). As a result, private consumption is no longer expected to stimulate growth in ...
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News briefsAnother prospective Olympic host throws its beret into the ring
France has bid to host the Winter Olympics in 2030, as many outlets are reporting. As with the recent bid from Switzerland, the host is no single city but, instead, a group of regions coordinating their efforts and presenting a single project. The regions in question are Auvergne-Rhône-Alpes and Sud/Provence-Alpes-Côte ...
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News briefseBay exceeds expectations in Q3
eBay Inc. reported revenue of $2.5 billion, up 5 percent on an as-reported basis and up 5 percent on an FX-neutral basis, for its third quarter ended Sept. 30, 2023. “We delivered another quarter of solid results and have accelerated the pace of innovation across eBay,” said Jamie Iannone, Chief ...
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ArticleThe Footwear Collective seeks to drive industry’s transformation towards circularity
Athletic and outdoor footwear brands Brooks Running, New Balance, On, Vibram, Crocs and Ecco, along with US lifestyle brand Reformation and US retailer Target, have partnered with EarthDNA to launch The Footwear Collective (TFC), a non-profit initiative dedicated to uniting the global footwear industry to accelerate the ...
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News briefsSigna Holding: Benko steps down, hands over chairmanship to restructuring expert
As the company announced on Nov. 8, 2023, Austrian real estate investor René Benko has stepped down as Chairman of the Advisory Board of Signa Holding and handed over the chairmanship to Arndt Geiwitz. The German restructuring specialist is also taking over the chairmanship of Signa’s shareholders’ committee, as reported ...
