The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of February 8, 2021 covered in the SGB Updates and delivered to your inbox every business day.
February 12, 2021
•CZG Acquires Colt Holding Company
Ceska Zbrojovka Group, CZG, said it signed a definitive agreement to acquire 100 percent of the outstanding equity interest in Colt Holding Company LLC, the parent company of U.S. firearms manufacturer, Colt’s Manufacturing Company LLC and its Canadian subsidiary, Colt Canada Corporation. Read more
•GNC Appoints New CEO
GNC announced that Josh Burris will assume the role of chief executive officer and Cam Lawrence will assume the role of chief financial officer, effective immediately. Read more
•Hibbett Sports Opens Store In Columbia
Hibbett Sports announced the opening of its newest Hibbett Sports location in Columbia, SC, located at 2734 Decker Blvd. in the Fashion Place Shopping Center. Read more
•Newell Brands’ Outdoor & Recreation Segment’s Q4 Sales Drop 7.4 Percent
Newell Brands reported the Outdoor & Recreation segment showed a small operating loss as core sales were down 7.4 percent. Read more
•RECALL: Rep Fitness Strap Safety Brackets
About 1,940 Strap Safety Brackets from Rep Fitness are being recalled. Read more
February 11, 2021
•Authentic Brands Group’s Debt Ratings Outlook Upgraded
S&P Global Ratings revised its debt ratings outlook on Authentic Brands Group to stable from negative due to stronger-than-expected third-quarter results that ended September 30, 2020. The rating agency also expects sustained improvements over the next year. Read more
•Peloton Announces Closing of $1.0 Billion Notes Offering
Peloton Interactive Inc. announced that it has closed its offering of 0 percent convertible senior notes due 2026 for gross proceeds of $1.0 billion, including the full exercise of the $125.0 million option to purchase additional notes granted by Peloton to the initial purchasers. Read more
•Beachbody To Become Publicly Traded Company
Beachbody Company Group LLC said that it plans to become a public company by entering into a definitive three-way merger agreement with Forest Road Acquisition Corp., a publicly-traded special purpose acquisition company, and Myx Fitness Holdings LLC. Read more
•UFC Gym Appoints CEO
UFC Gym announced the promotion of Adam Sedlack to chief executive officer while the fitness center’s former CEO, Mark Mastrov, will move on as executive chairman. Read more
•Former Polar President Joins Wüsthof
Tom Fowler, the former president of Polar Electro USA, has joined Wüsthof’s as president of the cutlery maker’s Americas business unit. Read more
•Klättermusen Enters Distribution Partnership With Sputnik Inc.
Klättermusen, the maker of mountaineering equipment, announced it has entered into a new exclusive distribution partnership in Japan with Sputnik Inc. Read more
•New Zealand Merino Company Launches 100 Percent Regenerative Wool Platform In Partnership With Allbirds, Icebreaker And Smartwool
The New Zealand Merino Company and brands Allbirds, Icebreaker and Smartwool announced they are working collectively with 167 sheep growers to create the first regenerative wool platform that represents 2.4 million acres in New Zealand to tackle the impact of the global fashion industry responsible for 10 percent of annual greenhouse gas emissions worldwide. Read more
•Outdoor Foundation’s Preliminary Participation Report Shows Gains In Hiking, Camping And Fishing
The Outdoor Foundation, the philanthropic arm of Outdoor Industry Association released early topline data from its forthcoming Outdoor Participation Report that showed strong gains in hiking, camping and fishing. Read more
•Creedmoor Sports Names President
Creedmoor Sports Inc. has appointed Bill Gravatt as president. Read more
•New Balance Lands $3.85 Million Win in Chinese Trademark Case
New Balance has been awarded $3.85 million in damages by a Chinese court in a trademark infringement case against two local companies for copying its slanted “N” logo, according to a report in The Financial Times. Read more
•Thule’s Q4 Revenues Jump 33 Percent
Thule reported sales in the fourth quarter rose 32.6 percent on a reported basis and 44.6 percent on a currency-neutral basis. Currency-neutral sales in the Americas region rose 48 percent. Read more
•Yeti’s Q4 Sales Expand 26 Percent On DTC Momentum
Profits at Yeti Holdings surged 75.0 percent on an adjusted basis in the fourth quarter on a 26 percent sales gain. The gains were driven by DTC growth. The company forecast sales growth of between 15 percent and 17 percent in 2021 with sales growth weighted to the first half of the year. Read more
•Alterra Mountain Company Names Dakine Official North American Partner
Dakine announced a new four-year partnership, naming Dakine the official glove and bag partner of Alterra Mountain Company’s 15 North American mountain destinations. This partnership will be activated year-round to support winter and summer on-mountain activities at each of its destinationa. Read more
•VF Corp’s Debt Ratings Lowered By Moody’s
Moody’s downgraded VF Corp’s long-term ratings due to expectations that its financial leverage will remain high over the next several years due in part to the acquisition of the Supreme brand. Read more
February 10, 2021
•Hibbett Sports’ Q4 Comps Climb 22 Percent
Hibbett Sports provided preliminary unaudited financial results for its fourth quarter that showed comparable sales increased 21.9 percent, well above the previous guidance of an increase in the high-single-digits to low-double-digits. Read more
•Callaway Golf Q4 Sales Climb 20 Percent
Callaway Golf company reported sales grew 20 percent in the fourth quarter due to continued demand for golf equipment business and a recovery in its soft goods business led by sales of TravisMathew and Jack Wolfskin. The loss on an adjusted basis was slightly higher year-over-year due to markdowns to clear apparel inventory and higher air shipments to meet demand. Read more
•Primus And Brunton Appoint Sales Leaders
Primus and Brunton announced the hiring of Scott Duer as director of sales for both brands and Lauren Heershap as sales manager and product specialist for Brunton. Read more
•Peloton Adds OBGYN And Psychiatrist To Health And Wellness Advisory Council
Peloton announced Dr. Heather Irobunda, MD, and Dr. Pooja Lakshmin, MD, as its newest members of Peloton’s Health and Wellness Advisory Council. Read more
•Lids Promotes Nick Corthier To CFO
Lids promoted Nick Corthier to chief financial officer. Corthier’s experience with Lids began over 20 years ago when he joined the retailer as a sales associate. Read more
•RYU Apparel Appoints Board Member
RYU Apparel appointed Stefanie Crosby, CEO of Triumspear International, to its board of directors. Read more
•RECALL: Bowflex SelectTech 2080 Barbells With Curl Bar
About 3,700 Bowflex SelectTech 2080 Barbells with Curl Bar are being recalled. Read more
•PVH Appoints CEO Of PVH Americas
PVH Corp. announced that Trish Donnelly, former CEO of Urban Outfitters Group, will join the company as CEO, PVH Americas, a new position. Donnelly will have responsibility for the Calvin Klein, Tommy Hilfiger and Heritage Brands businesses in the Americas and for the global Calvin Klein brand. Read more
•HanesBrands Named Primary Licensee For Ohio State University Fan Apparel
HanesBrands announced an agreement with Ohio State University to serve as one of the University’s primary licensees for select fan apparel. Ohio State’s official side-line licensee remains Nike. Read more
•Dick’s SG To Open Five Stores In February
Dick’s SG announced plans to open one Dick’s Sporting Goods store and four Warehouse Sale stores in February. Read more
•Shimano’s Earnings Climb In 2020
Shimano reported net income increased 22.5 percent in 2020 as sales grew 4.1 percent. The Japanese-based sporting goods company said the year benefited from “interest in bicycles and fishing that can avoid closed, crowded and close-contact environments which boosted demand.” Read more
•Report: TaylorMade Golf Up For Sale
KPS Capital Partners has hired Morgan Stanley to explore a sale of TaylorMade, according to a New York Times report. A deal could value the company at more than $2 billion. Read more
February 9, 2021
•Under Armour Posts Surprise Profit For Holiday Quarter
Under Armour reported sales were down 3 percent in the fourth quarter but both sales and earnings easily topped Wall Street targets. The company forecasted sales for the current year to climb in the high-single-digit percentage rate, reflecting a high-single-digit growth rate in North America and a high-teens growth rate in its international business. Read more
•Babolat Partners With HumanFab To Study The Racquet Sports Player
Two French companies, Babolat and HumanFab announced a joint collaboration to create and develop a lab focused on the study of the human racquet sports player. Read more
•VF Corp Sets 2025 Sustainable Packaging Goals
VF Corp announced its goal to eliminate single-use plastic packaging, including polybags, by 2025. All remaining non-plastic packaging used by VF and its brands will be reduced, originate from sustainable sources and be designed for reuse or recyclability. Read more
•RYU Apparel Relists On OTCQB
RYU Apparel Inc. announced it has been relisted on the OTCQB Venture Market. Read more
•Urban Outfitters’ Q4 Comps Drop 7 Percent
Urban Outfitters Inc. reported total company net sales for the three months ended January 31 decreased 6.9 percent over the same period last year to $1.09 billion. Comparable Retail segment net sales decreased 7 percent. Read more
•Vail Resorts Announces Returning And New Strategic Partners
Vail Resorts has announced renewals of strategic partnerships with eight companies including PepsiCo, GMC and Helly Hansen, and a new partnership with the sports equipment shipping service Luggage Forward. Read more
•HanesBrands Sees Double-Digit Growth For Champion
HanesBrands reported sales grew 2.9 percent in the fourth quarter, led by an 11 percent gain for the Champion brand and continued momentum in U.S. Innerwear. Earnings were down but ahead of Wall Street estimates. Read more
•Peloton Announces Pricing Of Upsized Offering Of $875.0 Million In Notes
Peloton Interactive Inc. announced the pricing of $875.0 million aggregate principal amount of convertible senior notes due 2026 in a private offering. Read more
•Nike Acquires Data Integration Expert Datalogue
Nike has acquired Datalogue, a data integration platform start-up based in New York. Datalogue is Nike’s latest acquisition to enable its consumer-led digital transformation. Read more
February 8, 2021
•RIA Survey Details Run Specialty Channel Recovery In 2020
The latest survey from the Running Industry Association (RIA) found that in spite of store closures in March and April, the run specialty channel proved resilient and rebounded nicely in the back half of 2020. Read more
•Topgolf To Open First Venues In Southern California
Topgolf Entertainment Group plans to open two venues in the Los Angeles area in Ontario and El Segundo. These venues will be the first locations to serve the Southern California area and will bring the total number of venues in California to four, joining Topgolf Roseville outside of Sacramento and Topgolf San Jose, which is expected to open in 2021. Read more
•Waypoint Outdoor To Lead Tread & Butter’s U.S. Sales Force
Tread & Butter announced Waypoint Outdoor as its U.S. wholesale sales and brand management partner. Read more
•Herff Jones Appoints CFO And COO
Herff Jones, a subsidiary of Varsity Brands, announced the addition of Jeff Blade to its executive leadership team as chief financial officer and chief operating officer. Read more
•Astral Hires Industry Vet As Chief Revenue Officer
Astral announced the addition of David Orr to its leadership team. Orr will act as Chief Revenue Officer overseeing the brand’s global commercial strategy. Read more
•Delta Apparel’s Q1 Profits Jump
Delta Apparel’s sales declined 1. 3 percent in the first quarter ended January 2. A 1.5 percent decline at the Delta Apparel Group segment was partially offset by 2.3 percent growth in the Salt Life Group segment. Earnings more than doubled on an adjusted basis due to higher margins and cost reductions. Read more
•Carbitex Announces New Principal Investor And Capital Expansion
Starting 2021, Carbitex announced deeper investment and capital expansion from its principal investors, including the recently added Excelsior Venture Capital investment group. Read more
•AKTI Expands Anti-Counterfeiting Committee’s Role
The American Knife & Tool Institute (AKTI) recently expanded on its Anti-Counterfeiting Committee’s role to centralize how other industry concerns and issues are addressed for members, the knife industry and knife consumers within the nonprofit association. Read more
•Thule Group Appoints Business Area President Region Americas
Hilary Hartley has been appointed Business Area President Region Americas for Thule Group. Read more
•GYMS Act Applauded By Community Gyms Coalition & IHRSA
The Community Gyms Coalition, representing more than 15,000 community gyms and fitness studios in the U.S., and the International Health, Racquet & Sportsclub Association, representing over 20,000 health and fitness facilities in the U.S., welcomed the introduction of the bipartisan GYMS Act (H.R. 890) by Congressmen Mike Quigley (D-IL) and Brian Fitzpatrick (R-PA). Read more
•Retail Imports Expected To Hit Repeated Monthly Records
Following a record year during 2020, imports at the nation’s largest retail container ports are expected to set new monthly records from now into the summer as the U.S. economy continues to recover from the pandemic, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. Read more
•Nikwax Upgrades Headquarters; Prioritizes Sustainability NA Investment
Nikwax North America deepens its commitment to the North American market with a new office in Seattle, WA. The larger space and improved systems offer the brand room for expansion while the building mirror’s its commitment to sustainability. Read more
•Target’s All in Motion Becomes Billion-Dollar Brand
Target said its activewear owned brand All in Motion has become a billion-dollar brand a year after its launch. Read more
•Bass Pro Airs Its First Super Bowl Commercial
Bass Pro Shops unveiled its first Super Bowl commercial with a message centered on reconnecting with the outdoors and each other. Read more
•Peloton Announces Offering Of $600 Million Of Notes
Peloton Interactive, Inc. announced its intention to offer $600 million aggregate principal amount of convertible senior notes due 2026. Read more
•Kohl’s Partners With Eddie Bauer
Kohl’s announced it will partner with Eddie Bauer on performance outerwear and outdoor apparel range to launch nationwide in Fall 2021. The addition of Eddie Bauer bolsters Kohl’s strategic goal to drive the Active category from 20 percent to at least 30 percent of its business. Read more
•Garmin Prevails In Philips Patent Dispute
Garmin International, Inc. announced victory in a trade lawsuit brought by Philips North America, LLC and Koninklijke Philips NV against Garmin. Read more
•Mizuno’s Q3 Profits Soar
Mizuno Corp. reported earnings surged in the third quarter ended December 31 as sales grew 8.1 percent. Read more
