Daily News Feed
Vendor Executive Compensation Jumped 15% In 2021
Total compensation of the top 125 executives at public sporting goods companies increased to $618,038,107 from $507,744,115 total on last year’s table, with comparable pay for those in their position at least a year up 15%, lapping a 1% increase in 2020.
DKS will sell PTON bikes, treadmills and other equipment in more than 100 stores and online beginning this Holiday season, its first brick-and-mortar presence other than owned showrooms.
The Big a, which took over technical sponsorship of the Premier League club from Puma in 2019, has extended the initial five-year term by a further six years, through 2030.
A day after a NY district court judge dismissed Peloton’s request for a declaration of non-infringement on LULU’s activewear line, the two companies have settled the underlying litigation in Los Angeles.
Nike Sees Margin Pressure Coming from Clearance Activity
Continued weakness in China and the strong dollar everywhere else hurt the Eager Beavertons’ fiscal first quarter, with net income falling 22% to $1,468 million from $1,874 million on 4% higher revenues of $12,687 million vs. $12,248 million that would have been up 10% constant currency.
Skechers continues to track healthy consumer behavior coming out of Back-to-School, with no alarms bells ringing from inventory levels, promotional environment at wholesale partners or recessionary fears, it reported at the Morgan Stanley investor conference.
History may repeat for the California-based action sports stalwart with its purchase at auction by The Phoenix Project, Inc., headed by former company president Esmail Mawjee who led a turnaround and return to profitability a decade ago.
The SoCal activewear brand has launched DTC e-commerce operations in China, Hong Kong, Singapore, the Middle East, and Mexico, continuing its international rollout kicked off in Europe and Australia earlier this year.
The Wilmington, CA vertically integrated team sports uniform and equipment maker has been acquired by private investment firm Brand Velocity Group for undisclosed terms.
Taiwan fitness manufacturer, Floriey Industries filed suit against Life Pro Fitness and Bed Bath & Beyond in NY district court, accusing them of infringing on its adjustable dumbbell patent.
Rockgeist Bikepack U.S.A. is recalling about 420 BarJam bike handlebar brackets, because they can crack or break during use, causing the harness and gear to fall while the bicycle is in motion.
VF Corp. Cuts FY23 Guidance, Maps Vans Turnaround
Despite multiple headwinds in the near term, VF is forecasting a mid- to high-single-digit revenue CAGR over the next five years in a new growth plan introduced at its investor day, with all brands contributing at least mid-single-digit growth.
Retail/rental revenue continued to outperform in MTN’s small fiscal fourth quarter, growing 24% to $30,064,000 from $24,275,000 on higher demand and fewer Covid-related restrictions on operations.
The lulunatics will roll out their connected fitness platform, lululemon Studio, on October 5, and its two-tier membership ecosystem nationally after successfully testing it in four cities.
The two sneaker giants filed a joint motion to terminate the ITC investigation over knitted upper technology, following their settlement reached in late August.