The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of February 15, 2021 covered in the SGB Updates and delivered to your inbox every business day.
February 19, 2021
•Moncler Sees Sales Recover In Back Half
Moncler reported sales were down 12 percent in 2020 but saw a significant recovery in the second half of the year. Read more
•Adidas Bans Fur, Joins Fur Free Retailer Program
Adidas has banned the use of animal fur in its products and joined the Fur Free Retailer program. Read more
•Major League Fishing Announces Champions Club Membership Program
As part of several new membership program offerings from Major League Fishing in 2021, it recently announced its Champions Club, a fishing subscription service for anglers to take their skills to the next level with content and products from the sport’s top pros and brands. Read more
•Asics Invests In Soccer Scouting Platform
Asics announced that its investment subsidiary, Asics Ventures Corporation, has invested in Dreamstock Inc., an operator of a soccer scouting platform that matches soccer players with club teams. Read more
February 18, 2021
•Vista Outdoor’s Debt Ratings Upgraded
Moody’s Investors Service, upgraded Vista Outdoor Inc.’s new senior unsecured eight-year notes rating to B2 from B3. Read more
•Pelican Products Hires VP Of Worldwide Supply Chain
Pelican Products Inc. announced the addition of Jeffrey Goldberg to its global operations team as vice president of its worldwide supply chain. Read more
•Rather Outdoors Acquires Zebco
Rather Outdoors announced that it has acquired Zebco Brands, the Tulsa, OK-based manufacturer of fishing rods, reels and accessories. Read more
•VF Corp. Appoints Global Brand President, Icebreaker
VF Corporation announced the appointment of Jan Van Mossevelde to the position of global brand president, Icebreaker. Read more
•Planet Fitness’ System-Wide Comps Decline 11 Percent In Q4
Planet Fitness Inc. reported revenues declined 30.1 percent in the fourth quarter ended December 31 with system-wide same-store sales decreasing 10.6 percent. Said Chris Rondeau, CEO, “We are encouraged with our start to 2021, as we have seen net member growth and improved usage, which we believe is a testament to our messaging and marketing efforts.” Read more
•RYU Apparel Engages Oak Ridge Financial
RYU Apparel Inc. has engaged Minneapolis-based Oak Ridge Financial to support the company’s investor relations and financial markets communication strategy. Read more
•Jack Wolfskin Appoints New Sales Representative
Jack Wolfskin announced a new addition to its North American sales team, Will Lachenauer. The founder of the LG3 sales agency, Lachenauer will lead its retail sales across Arizona, Nevada and California. Read more
•Emerald Holding Posts Q4 Loss
Emerald Holding Inc. recognized a net loss of $58.1 million for the fourth quarter of 2020 compared to a net loss of $68.2 million for the fourth quarter of 2019. Revenues were down 72.8 percent. Read more
•VF Corp Allocates Green Bond Net Proceeds
VF Corp announced it has fully allocated the net proceeds from its inaugural Green Bond issued last year, totaling approximately €493 million ($596 mm). Read more
•Escalade’s Q4 Sales Surge 59 Percent
Escalade Inc.’s profits doubled in the fourth quarter as sales jumped 58.9 percent. For the year, sales ran up 51.6 percent. Read more
•Camping World Holdings To Acquire Flagg RV In New England
Camping World Holdings Inc. announced that an agreement has been signed to acquire the two dealership locations of Flagg RV in Uxbridge, MA and West Boylston, MA and additional land in Griswold, CT for a planned future location. Read more
•SportChek’s Q4 Comps Decline 3 Percent
Canadian Tire Corp. reported comparable sales growth in the SportChek segment declined 3 percent in the fourth quarter due to reduced promotional activity, temporary store closures and COVID-19 restrictions. Read more
•Sturm, Ruger’s Q4 Sales Climb 61 Percent
Sturm, Ruger & Company, Inc. reported earnings rose nearly four-fold in the fourth quarter on a 61.1 percent revenue gain. Read more
February 17, 2021
•Gore Wear Shifts From Dealer Direct To QBP Distribution In North America
Gore Wear said it is taking a new approach to wholesale distribution in North America and will focus its product portfolio on cycling apparel. Gore said it will focus on sales to a few key retailers and rely on Quality Bicycle Products for distribution to the IBD channel. Read more
•Sapphire Sport Welcomes Latest Partner
Sapphire Sport announced that Chloe Steinberg, formerly at Equinox Group, has joined as the team’s newest partner. Steinberg joins Doug Higgins and Michael Spirito at the venture capital platform focused on early-stage technology companies. Read more
•Kohl’s Appoints Board Member
Kohl’s Corporation announced that Robbin Mitchell has joined its Board of Directors as an independent director. She is a member of the Fashion & Luxury leadership team at the Boston Consulting Group. Read more
•Therabody Raises Strategic Investment
Therabody, formerly Theragun, said it raised an undisclosed amount of equity. The round includes investments from Shawn Carter (Jay-Z), Jay Brown and Larry Marcus’ Marcy Venture Partners, Aaron Rodgers’ growth equity fund Rx3 Growth Partners, True Capital Management, James Harden’s 13 Endeavors, Kevin Durant and Rich Kleiman’s Thirty Five Ventures, and Kevin Hart’s Hartbeat Ventures. Read More
•Foot Locker Announces 2021 Capital Allocation Plans
Foot Locker, Inc. announced that its Board of Directors authorized two capital allocation initiatives, which provide for both elevated investments in the organic growth of its business and an increase in its dividend. The Board of Directors approved a $275 million capital expenditures program for 2021, compared to the approximately $155 million spent in 2020. Read more
•January Retail Sales Jump 7.4 Percent On Stimulus Benefit
Retail sales grew sharply in January as government stimulus checks provided a boost and momentum from 2020’s record holiday season carried over into the new year, the National Retail Federation said. Overall sales were up 7.4 percent seasonally adjusted year-over-year with sporting goods stores up 8 percent. Read more
•GOA Retailers See Second-Half Bounce Back In 2020
Grassroots Outdoor Alliance (GOA) reported that with double-digit growth across the group in December, GOA retailers finished the 2020 calendar year down 0.34 percent compared to 2019. From June 2020 through January 2021, GOA retailers nationwide were up 10.8 percent. Read more
•OxeFit Appoints New Board Members
OxeFit announced the appointment of Hassan M. Ahmed, Ph.D., to its Board of Directors and Professional Rock Climber Nick Sagar to its Technical Advisory Board. Read more
•Garmin’s Q4 Revenues Leap 23 Percent
Garmin Ltd. reported fourth-quarter earnings grew 34 percent on an adjusted basis as sales climbed 23 percent. The growth was led by gains of 48 percent in the Marine segment, 40 percent in Outdoor and 26 percent in Fitness. Read more
•Club Champion Adds Three Fitting Studios
Custom club fitter Club Champion announced the opening of three new fitting studios this month located in Des Moine, IA; Tacoma, WA; and Livingston, NJ. Read more
•Camping World Announces Acquisition In The Northeast CorridorCamping World Holdings Inc. announced the acquisition of two locations in the Northeast as the company further expands its footprint. The new locations in Hamburg, PA and Albany, NY were established through the acquisition of Boat-N-RV Superstore. Read more
February 16, 2021
•New Balance To Sponsor AS Roma
New Balance has reached a deal to replace Nike as the official kit provider to the Italian Serie A club AS Roma, starting with the 2021/22 season. Read more
•Apex Global Brands To Be Acquired By Galaxy Universal
Apex Global Brands Inc. said it entered into a merger agreement with Galaxy Universal LLC. Apex’s brands include Hi-Tec, Magnum, 50 Peaks, Interceptor, Cherokee, Tony Hawk, Point Cove, Carole Little Everyday California, and Sideout. Read more
•Target Announces Updates To Executive Leadership Team
Target Corp. announced a number of changes across its executive leadership team, including appointing Christina Hennington as executive vice president and chief growth officer. Read more
•Fila Partners With Professional Pickleball Association
The Professional Pickleball Association announced that it has agreed to an expansive retail partnership with Fila Pickleball and Fromuth Racquet Sports. Both organizations join the Pro Tour in 2021 as exclusive providers. Read more
•SFIA Finds Individual Sports Shine In 2020
Individual sports such as tennis, golf, running, hiking, skateboarding, and surfing thrived in 2020 as Americans pursued a host of pandemic-acceptable sports and fitness activities, according to SFIA’s Annual Topline Participation Report. Read more
•Thule To Open First U.S. Brand Store In Denver
Thule announced it would open its first brand store in North America in downtown Denver, CO, to showcase all its product categories in one space. The store will open in Summer 2021. Read more
•Adidas Begins Sale Process For Reebok
Adidas AG formally announced plans to divest its underperforming Reebok brand. In December, Adidas had announced had begun a review of whether to sell Reebok. Read more
•Marolina Outdoor Inc. Partners With Richard Childress Racing For 2021 Season
Marolina Outdoor Inc., Huk and Nomad’s parent company, announced its partnership with Richard Childress Racing for the 2021 season. Read more
•Macy’s Appoints Senior Vice President, Enterprise Data & Analytics
Macy’s Inc. announced that Xingchu Liu has joined the company as senior vice president, enterprise data & analytics. Liu was the president of BlackLocus, a subsidiary within The Home Depot. Read more
•Ed Viesturs Joins Himali
Himali, a Boulder, CO-based brand specializing in mountain apparel, announced that Ed Viesturs, the renowned mountaineer, will join the company as a partner, athlete and designer. Read more
•Outtech Names VP Of Sales
Outtech announced the promotion of Nick French to vice president of sales. In this position, French will continue his leadership of the Outtech sales team in the Independent Dealer, Buy Group and Distributor channels and take a more expanded role with multi-store retailers. Read more
•U.S. Tennis Participation Surges In 2020, Adding Four Million Players
The United States Tennis Association announced that tennis participation increased by 22 percent in 2020, with 21.64 million people hitting the courts according to recent data from the Physical Activity Council’s Participation report. Of the more than 21 million Americans who said they played tennis last year, 6.78 million were new or returning players. Read more
•Vista Outdoor Announces Private Offering Of Senior Notes
Vista Outdoor Inc. announced that it has commenced a private offering of $350 million aggregate principal amount of senior notes due 2029. Read more
February 15, 2021
•Adidas Partners With Richmond Athletics
The University of Richmond athletics department and Adidas have announced a five-year strategic partnership. The deal includes a hybrid model featuring ASB Sports as a direct vendor. Read more
•Dorel Announces Termination Of Going-Private Transaction
Dorel Industries Inc. announced that it has terminated its acquisition by Cerberus Capital Management that would have taken it private. The termination came after at least two shareholder groups had complained Cerberus’ offer significantly undervalued Dorel. Read more
•Fitness Industry Council Of Canada Asks Federal Government To Make Physical Activity Tax DeductibleThe Fitness Industry Council Of Canada (FIC) is asking the federal government to include fitness memberships and services as a medical cost for personal taxes. FIC said that the tax incentive would elevate Canada as a global leader by becoming a nation that supports and promotes health and wellness as part of a national health care strategy. Read more
•Expresso Fitness Appoints Chief Executive Officer
Expresso Fitness named Jeff Veldhuizen as CEO. Veldhuizen, who served as vice president of direct-to-consumer for Zwift and held senior roles for more than a decade at Nike. Read more
•Topgolf To Open New Venue In Colorado SpringsTopgolf Entertainment Group reached a mutual agreement with the developer of Polaris Pointe to complete construction and assume operations of a new Topgolf venue in Colorado Springs. Read more
•FTC Seeks Info About Bass Pro, Sportsman’s Warehouse Deal
The Federal Trade Commission (FTC) has requested more information about plans from the owner of Bass Pro Shops to purchase Sportsman’s Warehouse. Read more
•Survey Finds Pandemic Plunges Low Income Youth Participation Rates
In a national survey conducted by the Maryland-based Youth Sports Collaborative Network, kids sports programs serving low-income communities reported 84 percent of their more than 146,000 registered youth have not regularly participated in its programs due to the pandemic. Read more
•Le Bent Welcomes Johnny West Global Team
Le Bent said Johnny West, former general manager of Skins North America and director of brand and sports marketing for 2XU North America, has joined its executive team. Read more
•NPD Reports: Golf, Racquet Sports And Basketball Equipment Sales Soar In 2020Golf equipment, the largest sports equipment category, grew sales by nearly 40 percent in 2020, according to The NPD Group, while racquet sports equipment grew by more than a third and basketball hoop systems and balls improved by nearly 25 percent. Read more
•Hibbett Sports Opens Stores In Colonial Heights And Vallejo
Hibbett Sports has opened stores in Colonial Heights in Virginia and Vallejo in Northern California. Read more
Photo courtesy Surf Expo, January 2021
