Tuesday September 26, 2023
The Best Employers in Sports Survey is Now Open!

Athleta Sales Fuel Gap’s Robust Quarter

Athleta/Design: Alex Brooks
Front Office Sports Today

Writer’s Strike End a Boon for Sports Networks, Agencies

We delve into the potential long-term impact of the five-month strike.
Listen Now
September 26, 2023 | Podcast
Linkedin
Copy Link
Link Copied
Link Copied

Gap, the parent company of Athleta, reported second-quarter earnings Thursday, recording $4.2 billion in net sales — its best second-quarter sales in over a decade.

Athleta’s net sales jumped 35% from 2019 to $341 million.

  • During the quarter, Athleta launched a well-being platform called AthletaWell. The announcement fell on the same day Athleta athlete Simone Biles withdrew from the individual all-around gymnastics competition at the Tokyo Olympics to focus on her mental health. 
  • As part of the launch, Athleta announced a partnership with Obe Fitness to offer free workout content for members each week. The company recently contributed to Obe’s $15 million Series A funding round.
  • In July, Athleta athlete Allyson Felix became the most decorated U.S. Olympic track athlete ever by winning her 10th and 11th Olympic medals. Both Biles and Felix left Nike for Athleta.

Over 50% of Athleta’s sales are from loyalty members, who spend twice as much money as the average customer.

Athleta hopes to reach $2 billion in annual net sales by 2023 after opening 20-30 stores in 2021. Gap is set to launch Athleta online in Canada next week and raised its projected sales growth to 30% from the low-to-mid 20% range.

Athleisure accounted for 33% of apparel sales last year, according to NPD Group, and is projected to become a $517.5 billion industry by 2025.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
Sponsored

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.

WBD Pursues ‘Different’ Strategy For Sports on Max

Company to place all of its live sports on new streaming tier

Colorado's Epic Victory Sets New ESPN Prime Time Viewership Record

Coach Prime Deion Sanders delivered in prime time on ESPN.
podcast thumbnail mobile
Front Office Sports Today

Writer’s Strike End a Boon for Sports Networks, Agencies

0:00
0:00

Featured Today

Rob-Manfred-MLB

Oakland-MLB Relationship Devolves Into Next-Level Toxicity

Commissioner, mayor have very different accounts of July meeting
Jacksonville Jaguars Team President Mark Lamping addressed community members at Strings Sports Brewery on Main Street for the first of 14 planned town hall sessions to present the team's plans for the new "stadium of the future" complex and address the public concerns.
September 25, 2023

Jacksonville Jaguars President Walks Back Stadium ‘Threat’

"Viewing those comments as a threat to leave Jacksonville isn't correct."
Chatri Sityodtong
September 25, 2023

ONE Championship's Quest To Challenge Rival UFC Through U.S. Expansion

Leveraging its Amazon deal, ONE Championship seeks to expand in U.S.
Savannah-Bananas
September 24, 2023

Savannah Bananas Break All The Rules To Hit The Mainstream

Team concludes 2023 tour with even-bigger plans for next year

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
Chicago
Fanatics
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations
September 20, 2023

Adidas CEO Stands Behind Ye Nearly Year After Brand Cut Ties

Gulden's comments mark rare and surprising corporate move
Amer Sports, the parent company of Wilson Sporting Goods and Louisville Slugger, has filed for an IPO according to Bloomberg.
September 7, 2023

IPO Could Reportedly Value Wilson Parent at $10 Billion

The NFL, NBA, NCAA, and U.S. Open tennis use Wilson game balls.
Foot Locker's Q1 sales dropped 11.4%.
August 23, 2023

Sports Retailers, Brands Struggle As Consumer Habits Shift

Foot Locker and Peloton are seeing their stock prices dip.
August 22, 2023

Dick’s Sporting Goods Reports Worst Post-Pandemic Earnings

The company missed Wall Street’s earnings expectations badly.
Adidas
August 3, 2023

Adidas’ Bottom Line Gains Big Boost From Yeezy Sales

Closeout sales of discontinued stock provide significant revenue lift
Cleveland-Browns
July 30, 2023

Billion-Dollar Mini-Cities Becoming Top Priority For Stadium Projects

Cleveland is the latest city to explore vast development.
Colombia's goalkeeper punches the ball away during a match with South Korea at the 2023 FIFA Women's World Cup.
July 28, 2023

Nike Outselling Adidas at Women’s World Cup

Nike has sold out 17% of its 2023 Women's World Cup merchandise.