Three will get you a billion: Under Armour, the Baltimore-based upstart competitor to Nike, held an investor say on Thursday. It’s executives ventured well beyond tell analysts what kinds of nifty gear to expect in the upcoming fiscal year. They told analysts to expect the footwear and apparel company to double its growth in the next three years to more than $ 2 billion. Considering it took the company 15 years to reach $ 1 billion â€" an already impressive pact â€" Thursday’s declaration was impressive.
“We are building access to the brand that will drive meaningful growth for years to come,†president and chief executive Kevin Plank told about 80 investors, according to The Baltimore Sun.
Paul Fireman’s back: Perhaps you thought Paul Fireman would fade into the footwear and sports apparel background after selling Reebok International to Adidas in 2005 for $ 3.8 billion. Think again, as the Reebok founder announced Thursday that he had invested $ 20 million in a Colorado sneaker maker â€" Newton Running Co. Newton, The Boston Globe reports, “specializes in $ 175 sneakers built to emulate a shoeless stride â€" yet with enough cushioning to protect skin and joints from the realities of pavement pounding.†Fireman and Fireman Capital Partners will take a roughly 30 percent stake in Newton.
Peak in L.A.: Li-Ning Sports USA, Inc., broke new ground when it opened a North American headquarters office in Portland. In so doing, it left behind two of it China-based rivals, Peak and Anta. It appears that Peak is hot on the heels of Li-Ning, having opened a North American headquarters office in Los Angeles earlier this year. To hear Peak chief executive Su Jia tell it in an interview with the blog CounterKicks, Peak may even be ahead of Li-Ning.
Rise and fall of London BMX park: Nike spent a lot of money to convert an old London swimming pool into a BMX park, says this story in The Independent. More than 4,000 people have used the park since it opened May 16, with 300 a day at its peak. But the park will be closing soon to make way for a parking lot. Another BMX park may be built, the story says.
Lululemon posts results: The Vancouver, B.C.-based apparel company Lululemon athletica Inc. reported its quarterly results on Thursday. The company announced a 2-for-1 stock split. Their shares almost tripled in eight months to a high of $ 97.50 on the Toronto Stock Exchange in April, reports The Vancouver Sun. The stock closed at $ 83.90 Thursday, up 1.5 per cent on the day.
 â€" Allan Brettman, twitter.com/abrettman
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