SGB Executive Sports & Fitness
EXEC: Wall Street Sounds Off on VF Corp’s Supreme Sale
SGB Executive compiled input from notes produced by a range of Wall Street sell-side analysts to get a feel for how the deal is being viewed and measure if the perspectives of the Street are fairly universal. They were not.
EXEC: Thule Posts Tepid Q2 Sales Growth; U.S. Market Seen as “Weak but Positive”
The North American market continued to be challenging with a high level of promotional activity. Sales of bike-related products, Juvenile & Pet and Thule branded products in Packs, Bags & Luggage showed growth in the region.
EXEC: Adidas Raises Full-Year Outlook Again After Double-Digit Q2 Growth
In euro terms, the company’s revenues grew 9 percent to €5.82 billion from €5.34 billion in Q2 last year. Excluding Yeezy sales in both years, currency-neutral revenues increased 16 percent for the quarter.
EXEC: Merida Bikes’ June Sales Surge Fuels Big Second Quarter Gain
Second-quarter revenues were up 24.8 percent to NT$9.29 billion, with revenues for June 2024 increasing 48.7 percent, May sales growing 7.5 percent and April sales surging 24.0 percent year-over-year.
EXEC: Asics raises Full-Year Forecast on Strong H1 and Q2 Results
Net sales for the full year are expected to reach a record high of ¥660 billion with updated currency exchange rates, an increase of 15.7 percent versus ¥570.5 billion in fiscal 2023, excluding FX rate fluctuations.
EXEC: Decathlon Creates Independent Investment Entity
An independent entity within the Decathlon Group, Decathlon Pulse is expected to invest in “innovative people and businesses that share its values and commitment.”
EXEC: Anta Sports Sees Fila’s China Retail Sales Growth Slow in Q2
The Fila brand increased in mid-single-digits year-over-year in the second quarter, a moderation from the high-single-digit first quarter trend and the high-teens trend for full year 2023.
EXEC: Giant Group Sees Much Improved Q2 Revenue Trend
Second-quarter revenues were down 5.6 percent to NT$21.17 billion, an improvement from the 20.3 percent sales decline in the first quarter of this year and the 16.0 percent decline in the second quarter of last year.
EXEC: Tom Peddie Returns to Nike as VP of Marketplace Partners
Executive search firm MacGregor Black noted the reappointment on Tuesday morning on LinkedIn, saying that the “move comes as the iconic sports brand looks to enhance its relationships with existing retailers such as Foot Locker.”
EXEC: New Report Sees E-Commerce Growth Rate Contracting 70 Percent by 2029
According to data presented by Stocklytics.com, the annual growth rate in the e-commerce sector is now expected to slow to just 4.6 percent by 2029, or 69.3 percent lower than the forecasted 2024 growth rate.
EXEC: TSG International Inks French Distributor
SDG, based in Soorts-Hossegor, France, is a distributor of bikes, skates scooters and surf gear, representing action sports brands from Paris Trucks to Gibbon Slacklines.
EXEC: Bob’s Stores Commences Going Out of Business Sales
The company said that despite making swift and aggressive changes to its structure and operations, Bob’s Stores was unable to secure the finances needed to maintain operations.
EXEC: Delta Apparel Files for Chapter 11 BK Protection; Names Salt Life Stalking-Horse Bidder
The parent of the Soffe, Salt Life and Delta brands has posted losses for seven straight quarters as elevated inventory levels at the mass channel and related destocking efforts have impacted its Delta Direct vertical blank tee platform.
EXEC: Gym King Founder and CEO Buys Out JD Sports Stake in UK Athleisure Retailer
Founder and CEO Jay Parker, via an entity GKH Ventures Ltd. completed the buyout of JD Sports’ stake in The Gym King (Holdings) Ltd., with Parker regaining 100 percent ownership in the business.
EXEC: Wall Street Analysts Downgrade Nike as Competitors Gain Heat
Nike’s move to slash its sales forecast for the year ahead resulted in downgrades from UBS, Stifel, JPMorgan, and Morgan Stanley. Some analysts cited opportunities for Adidas, Lululemon, Hoka, On, and other competitors to gain shelf space as Nike’s overreliance on lifestyle offerings and innovation struggles continue.
