EXEC: Equinox Group’s Blink Fitness Unit Files for Bankruptcy to Facilitate Sale
Blink Fitness reported that it has made the strategic decision to execute an “efficient and value-maximizing sale process to optimize its footprint and position the business for long-term success.”
EXEC: 361 Degrees Posts Healthy H1 Results, Outpaces China Retail Growth Trends
The strong growth was said to be mainly due to the Group’s continuous efforts in channel rollout and marketing to promote online and offline omni-channel operations.
EXEC: On Posts Strong Q2 but U.S. Growth Slowed by New Atlanta DC Transition Issues
Without the impact of the Atlanta warehouse transition, the company believes it would have been able to deliver sales growth on a global level above its full year guidance and would have seen a stronger D2C share or higher D2C share.
EXEC: Asics Corp. Gets Big First Half Lift from Yen Depreciation
Net sales for the 2024 first half increased 18.0 percent to ¥342.2 billion, which was said to be due to strong sales in all categories, but the weaker yen had a major positive impact of the first half. Excluding FX currency fluctuations, sales would have increased just 8.7 percent year-over-year.
EXEC: Yue Yuen Sees Improving FW Manufacturing but China Retail Still a Drag
The volume of shoes shipped during the first half period increased by 9.9 percent to 120.7 million pairs amid a “decent recovery trend” and a further normalized order book. Pou Sheng China retail decreased 12.7 percent to $1.38 billion in U.S. dollar terms for the first half.
EXEC: Giant Group Saw Ugly but Improving Trends in First Half; H2 Shaping Up Nicely
The 5.8 percent decline in Q2 was a clear quarter-over-quarter sequential improvement versus the 2024 first quarter, when Giant Group saw revenues fall 20.2 percent for the January through March period, on top of a 9.7 percent decrease in the corresponding Q1 period last year.
EXEC: Footwear Factories Post Positive Growth Trends in July
Yue Yuen’s footwear manufacturing revenue jumped 22.0 percent year-over-year in July 2024 against a weak July last year while Feng Tay Enterprises reported footwear manufacturing revenues were up 3.2 for July, representing a slow down in YTD growth.
EXEC: Mizuno Corp. Fiscal Q1 Profits Expand DD on Solid Sales Growth
Sales in Japan remained robust in competitive sports including soccer, volleyball and racket sports, and sales in the work business remained strong. Non-Japan sales also continued to grow in products for competitive sports such as soccer, and lifestyle shoes.
EXEC: Havaianas Brand Posts Strong Q2 Growth on Strong Brazil Sell-Through
Havaianas Brazil saw Q2 net sales grow 21.6 percent year-over-year, driven by a 21.5 percent increase in volumes sold. In the second quarter, the estimated sell-out for Havaianas Brazil was 3 percent higher compared to the year-ago Q2 period.
EXEC: Yonex Posts DD Fiscal Q1 Int’l Growth on Yen Depreciation, Badminton Surge
Consolidated sales reportedly reached a record high, driven in part by the positive effect of yen depreciation on overseas sales. Despite the depreciation upside, North America sales declined year-over-year while Asia and Europe posted double-digit growth
EXEC: Under Armour’s Shares Jump on Q1 Beat, Guidance Raise
Shares of Under Armour rose nearly 20 percent Thursday after the company notched a surprise quarterly profit before litigation-related charges as both gross margins and North America’s sales performance exceeded expectations. Under Armour slightly raised its outlook for the year.
EXEC: Yeti Shares Surge as Company Delivers Continued Good News to Market
Growing margins, International growth, innovative new products, shifting sourcing, inventory control, new leadership and a new licensing partnership with the NFL rolled up into a very positive report and conference call on Thursday.
EXEC: Vulcabras Q2’s Growth Paced by Athletic Footwear Strength
Brazil’s Vulcabras reported sales increased 5.1 percent to of R$761 million ($136 mm) in the second quarter with growth across its Olympikus as well as licensed Mizuno and Under Armour brands.
EXEC: Helly Hansen Posts Small Q2 Growth While SportChek Declined on Weather Woes
Canadian Tire Corp., parent of Helly Hansen and the SportChek, Sports Experts, Atmosphere, Pro Hockey Life, Sports Rousseau, Hockey Experts, and Mark’s retail banners, reported top-line pressures in Q2 were balanced by strong margin and cost control, improving retail profitability.
EXEC: Mountain Warehouse Submits $5M Stalking Horse Bid for EMS Assets
UK-based Mountain Warehouse has emerged as the stalking horse bidder for Eastern Mountain Sports with a $5 million bid to acquire the EMS intellectual property. EMS parent company GoDigital Media Group filed for bankruptcy in June.
