<span style="color: #878686;">The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of June 22, 2020 covered in the SGB Updates — delivered to your inbox every business day.
Photo courtesy the New York City marathon which was canceled this week despite infection rates of the coronavirus dropping in the NYC area. Organizers and city officials decided it was too risky to run a race with 50,000 participants.
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›Descente Ltd. Names New North America Distributor | June 26
Descente Ltd. is partnering with Momentum Distribution Inc. for its skiwear and accessories business in Canada and its USA territory. Read more
›Jackson Adventures Taps Taylor To Lead Sales Effort | June 26
Jackson Adventures named Brad Taylor as VP of sales. Taylor will manage its global sales initiatives taking over as part of what has been a continual evolution at the brand this year. Read more
›Fourth of July Spending Expected To Decline | June 26
Americans are expected to spend $6.9 billion on food for Fourth of July cookouts and picnics next month, according to the annual survey released today by the National Retail Federation and Prosper Insight & Analytics. That’s down from last year’s record $7.1 billion as fewer people said they will turn out for the holiday but it is still the second-highest amount in the history of the survey and per-person spending is up. Read more
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›Boardriders Debt Ratings Downgraded | June 25
Moody’s Investors Service changed Boardriders Inc.’s outlook to negative from stable. The outlook change reflects the significant deterioration in earnings and cash flow resulting from the disruptions caused by COVID-19. Read more
›World Gym Hires Two To C-Suite | June 25
World Gym International has appointed Lewis Stanton as CEO. Jarrod Saracco has been named COO. Read more
›Amazon Buys Rights To ReName Seattle’s KeyArena To Climate Pledge Arena | June 25
Amazon announced that it has secured the naming rights to the new home of Seattle’s NHL team and WNBA’s Seattle Storm, and is renaming the KeyArena to Climate Pledge Arena. Read more
›Ping Signs Sahith Theegala | June 25
Ping signed Sahith Theegala, winner of the 2020 Haskins Award as the best player in men’s college golf, to an endorsement contract. Read more
›GOB Sale Resumes At 107 Modell’s Locations | June 25
Modell’s Sporting Goods resumed going-out-of-business (GOB) sales at 107 of its remaining stores, beginning immediately. Read more
›Nike Reports $790 Million Quarterly Loss | June 25
Nike Inc. reported a loss of $790 million, or 51 cents a share, in the fourth quarter ended May 31, driven by lower revenues and gross margins as a result of the COVID-19 impact on its operations partially offset by lower selling and administrative expenses. Sales decreased 38 percent to $6.3 billion. Read more
›Macy’s Announces Restructuring To Address Sales Impact From The Pandemic | June 25
Macy’s Inc. announced it will reduce its corporate and management headcount by approximately 3,900 as part of a restructuring to align its cost base with anticipated near-term sales as its business recovers from the impact of the coronavirus. Read more
›Iconix Agrees To Sell Starter China | June 25
Iconix Brand Group Inc. said in a regulatory statement that it agreed to sell Starter China Limited for $16.0 million. The Starter China sale includes the sale of the Starter brand in Mainland China, Hong Kong, Taiwan, and Macau. Read more
›Canada Goose Artist In Residence Program Moves To London | June 25
Canada Goose has been hosting a global Artist In Residence program to celebrate its stores reopening. The latest artists’ work to be showcased is in London and will be on view on June 26. Read more
›IHRSA Releases Four-Pronged Framework Guiding Gym Re-Openings | June 25
IHRSA (International Health, Racquet & Sportsclub Association) detailed the Four-Pronged Framework clubs are using to plan safe reopening protocols while working with local health boards. Read more
›Davidson’s Adds D&H Tactical | June 25
Davidson’s, one of the nation’s top firearms wholesalers based on Prescott, AZ, has added firearms magazines from D&H Tactical to its product line. D&H Tactical is a division of D&H Industries. Read more
›St. Croix Rods Taps Sherman Sales Team For West Coast | June 25
St. Croix Rod, the family-owned fishing rod company based in Park Falls, WI, hired the Sherman Sales Team to lead its West Coast sales efforts. Read more
›Exxel Outdoors Names Vice President Of Key Accounts | June 25
Ken Ross has joined Exxel Outdoors as Vice President of Key Accounts, announced Harry Kazazian, Chairman and CEO of the company. Read more
›Hibbett Sports Opens Winston-Salem Store | June 25
Hibbett Sports announced the opening of its newest Winston-Salem, NC store located at 1223 Silas Creek Parkway in the Parkway Plaza. Read more
›GOA ConnectHub Welcomes Independent Specialty Retailers For S21 Planning + Buying | June 25
Grassroots Outdoor Alliance (GOA) opened its “ConnectHub” to specialty independent retailers to engage with vendor brands for Spring 2021 planning and buying. Read more
›Sperry Names New VP Design & Product Development | June 25
Sperry, a division of Wolverine World Wide, Inc., has named Sean McDowell as VP design and product development. In this role, he will focus on driving product innovation and elevating the Sperry brand. Read more
›Under Armour Extends Sponsorship With Texas Tech | June 25
Under Armour agreed to a four-year sponsorship extension with Texas Tech University, according to a report from the Baltimore Business Journal. Read more
›Crocs Disputes Outbreaks At Dayton Distribution Center | June 25
Crocs released a statement to clarify inferences drawn from public comments made last Thursday during Ohio Governor Mike DeWine’s about a viral “outbreak” taking place at its Dayton distribution center. Read more
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›NCAA Study Finds Student-Athletes Thrive In Life After Graduation | June 24
An NCAA study found that college graduates who participated in NCAA athletics enjoy positive, long-term life outcomes at greater rates than non-athletes. Read more
›Australian FItness Giant F45 To Go Public In U.S. After Merger | June 24
Australian fitness chain F45 Training will go public in the U.S. after reaching a deal to be acquired by Crescent Acquisition, a special purpose acquisition company backed by investment firm Crescent Capital. F45’s Co-founder and Chief Executive, Adam Gilchrist, will continue to run the fitness chain. Read more
›OBIT: Frank Dassler | June 24
Frank Dassler, the grandson of Puma founder Rudolf Dassler, has passed away at the age of 64. He was Managing Director of the Puma subsidiary in the USA from 1985 to 1987 and group general counsel at Adidas from 2004 to 2018. Read more
›Arc’teryx Recognized As One of The Best Workplaces In British Columbia | June 24
Arc’teryx Equipment has been named to the list of 2020 Best Workplaces in British Columbia. Arc’teryx received this honor after an independent analysis conducted by Great Places to Work. Read more
›UConn To Drop Four Sports | June 24
The University of Connecticut (UConn) will eliminate four sports in a cost-saving move. Affected programs are men’s cross country, women’s rowing, men’s swimming & diving, and men’s tennis. Read more
›Eddie Bauer Joins Facebook Boycott | June 24
Eddie Bauer will pull its advertising from Facebook in support of the “#StopHateforProfit” campaign. Read more
›Crossfit Finds New Owner | June 24
Crossfit is being sold to Eric Roza, the owner of CrossFit Sanitas in Boulder, CO. The sale follows controversial statements from Founder Greg Glassman after the death of George Floyd. Read more
›Foot Locker Commits $200 Million To Support Black Community | June 24
Foot Locker Inc. will invest $200 million over the next five years to support the black community through investments in black-owned businesses within youth culture, purchase more products from black-owned brands and donate to organizations that create economic development and advancement opportunities for minorities. Read more
›TCS New York City Marathon Canceled Due To Pandemic| June 24
The 2020 TCS New York City Marathon, set to take place on November 1, has been canceled. New York Road Runners (NYRR), the event organizer, in partnership with the Mayor’s Office of New York City, has made the decision to cancel the world’s largest marathon due to coronavirus-related health and safety concerns for runners, spectators, volunteers, staff, and the partners and communities that support the event. Read more
›Amazon Establishes Counterfeit Crimes Unit | June 24
Amazon announced it has established a Counterfeit Crimes Unit dedicated to bringing counterfeiters that violate the law and Amazon’s policies by listing counterfeit products in its stores to justice. Read more
›GNC Plans To Close Up To 1,200 Stores | June 24
GNC Holdings Inc. said it has filed for Chapter 11 bankruptcy protection with plans to sell the company and close 800 to 1,200 of its roughly 7,300 locations. Read more
›Winnebago Seeing Strong Bounce Back After Challenging Q3 | June 24
Winnebago Industries reported a loss in the third quarter ended May 30 due to the impact of COVID-19 shutdowns but saw business recover in May and is optimistic about summer selling. CEO Michael Happe said, “The COVID-19 pandemic has impacted travelers’ views toward how they desire to spend their leisure time experiencing nature and the outdoors.” Read more
›Nordica USA Announces Management Changes | June 24
Nordica North America recently announced management changes with Vice President Scott Russo retiring, shown below right, and Mike Martini appointed to the newly created position of national sales manager for Nordica USA. Read more
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›Town Sports International Considering Bankruptcy | June 23
Town Sports International, the parent of New York Sports Club and Boston Sports Club, said that due to challenges presented by COVID-19 it is considering strategic alternatives including negotiating with existing lenders, engaging with potential financing sources to raise capital, and filing for bankruptcy. Read more
›Dynamic Brands Acquires Haas-Jordan| June 23
Dynamic Brands announced its acquisition of golf umbrella company, Haas-Jordan. The acquisition adds another recognizable sport and recreational brand to a portfolio which includes Bag Boy, Burton, Datrek Golf, Devant Sport Towels, Igotcha, Search ‘N Rescue, and Flagpole-To-Go. Read more
›Crocs To Open Second Distribution Center In Ohio | June 23
Crocs plans to build a second distribution center in Dayton, OH next to the warehouse it opened last year near the Dayton International Airport. Read more
›JD Sports Buys Back Go Outdoors After Pushing It Into Administration | June 23
JD Sports reacquired the Go Outdoors chain for £56.5 million after putting it into administration. Read more
›Amazon Sets $2 Billion Climate Pledge | June 23
Amazon announced the launch of a $2 billion internal venture-capital fund focused on technology investments to reduce the impact of climate change. The Climate Pledge Fund program will back visionary companies whose products and services will facilitate the transition to a zero-carbon economy. Read more
›J.C. Penney To Close 13 More Stores | June 23
J.C. Penney Co., which filed for bankruptcy proceedings on March 15, disclosed an additional 13 stores it plans to close on top of the 136 being liquidated. (Read More)
›Puma Opposes Nike’s “Footware” Trademark Application | June 23
Puma has initiated opposition proceedings in connection with Nike’s application to use the word “footware” for use on sneaker-specific software products and services, according to thefashionlaw.com. Read more
›New Balance Foundation Donates To COVID-19 Response Efforts | June 23
New Balance Foundation announced it has confirmed the second round of funding as part of its pledge earlier this year to donate $2 million in non-profit grants in response to the COVID-19 pandemic. Adding to the New Balance Foundation’s initial distribution of $500,000, select organizations from the Foundation’s network of more than 60 grantees recently received a combined total of $1.25 million in New Balance Foundation COVID-19 grants. Read more
›Fitness Category Strong In The U.S. | June 23
The Sports & Fitness Industry Association (SFIA)’s 2020 Single Sport Reports covering fitness activities finds traditionally “niche” fitness activities are growing significantly. These activities include Yoga (6.0 percent), Barre (3.8 percent) and Stationary Cycling – Group (5.3 percent). Read more
›NFHS Produces Commercial On Fan Behavior | June 23
The NFHS (National Federation of State High School Associations) produced a 30-second commercial exploring poor fan and parent behavior at high school contests. The commercial was aired before a primetime national audience June 18 on ESPN News. Read more
›Fleet Feet Finds E-Commerce Boost Amid Pandemic | June 23
Fleet Feet has reopened 170 of its 184 stores in some capacity to strong initial results for many franchisees, according to a profile in Forbes. A decision to build a shared, central e-commerce site for all stores proved to be beneficial as stores were closed. Read more
›UK’s Go Outdoors Exploring Administration | June 23
Go Outdoors, the 67-unit outdoor chain based in the U.K., is exploring administration, a process similar to U.S. bankruptcy. The move was confirmed its owner by JD Sports. Read more
›Artémis To Trim Stake In Puma | June 23
Artémis, the holding company of French entrepreneur François Pinault, announced a new €500 million bond offering in Germany convertible into Puma shares in 2025. Read more
›IHRSA Continues Push For Fitness Industry Relief From COVD-19 Shutdow | June 23
IHRSA is asking Congress for federal relief for the fitness industry so that fitness clubs and gyms across the country may continue to provide vital services (safe, secure, proven places to achieve their health and fitness goals) for their communities. Read more
›American Alpine Club Names New CEO | June 23
The American Alpine Club Board of Directors has named Mitsu Iwasaki as the organization’s next chief executive officer, effective August 3. Read more
›Vasque Footwear Expanding Scandinavian Presence In Distributor Deal | June 23
Vasque Footwear has partnered with Norwegian distributor TRACX to bring Vasque footwear to the Scandinavian market. Read more
›Shoe Carnival Sees Strong Q2 Trend As Stores Re-Open And Online Surges | June 23
Shoe Carnival, Inc. has re-opened all but one of its 390 stores across the U.S. and Puerto Rico following closures prompted by the COVID-19 pandemic. Read more
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›Benchmade Knives Adds VP of Marketing; Elevates Long-Time Employees To Senior Exec Roles | June 22
Benchmade Knife Company, a producer of American made knives, has solidified a new leadership team for even greater growth. Read more
›Patagonia Joins Facebook Boycott | June 22
Patagonia has joined REI and The North Face in announcing plans to suspend advertising on Facebook and Instagram to show support for a movement called “#StopHateForProfit.” Read more
›Varsity Brands Raises $185 Million In New Funding | June 22
Varsity Brands, the parent of BSN Sports, Varsity Spirit and Herff Jones, announced that it has successfully completed transactions that, in aggregate, raised a total of approximately $185 million in new capital to the company. Most notably, existing and new institutional investors have participated in a $150 million capital raise to provide greatly enhanced financial flexibility through the COVID-19 pandemic and for the foreseeable future. Read more
›Nixon Promotes Nancy Dynan To Role Of President | June 22
Nixon, the California-based watch and accessory brand, has promoted Nancy Dynan to the role of president. As President, Dynan will oversee Nixon’s business globally taking on the responsibilities previously handled by outgoing CEO Scott Kerslake who has stepped away from the role to pursue new opportunities outside the Company. Read more
›Canadian Apparel Brand Duer To Open Third Store | June 22
Canadian performance denim company Duer announced the opening of its third retail location in Calgary on July 2. Read more
›AdvanSix Appoints New Chief Human Resources Officer | June 22
AdvanSix, a leading manufacturer of Nylon 6, appointed Kelly Slieter as senior vice president and chief human resources officer. She was at Honeywell. Read more
›OBIT: Rossignol’s Laurent Boix-Vives | June 22
Laurent Boix-Vives, Rossignol Group’s president and leader for some 50 years, passed away on Thursday, June 18, at the age of 93. Read more
›Safilo Group Ending License Deal With Max Mara | June 22
Safilo and Max Mara have mutually agreed on the termination of their license agreement for the Max Mara collections of sunglasses and optical frames. Read more
›Smith & Wesson Hires New VP Marketing | June 22
Smith & Wesson Inc. has hired Kyle Tengwall as VP marketing for Smith & Wesson’s firearms brands. An industry veteran, Tengwall joins Smith & Wesson from United Tactical Systems. Read more
›Interior Dept. Announces Grants To Keep Waters Clean and Support Outdoor Recreation | June 22
U.S. Secretary of the Interior David L. Bernhardt has announced $32.8 million in grants – with an additional non-federal match of $21.9 million – for states and communities to support outdoor recreation and help boaters keep America’s waters clean. Read more
›Evander Holyfield Joins Fanatics “All In Challenge” | June 22
Evander Holyfield, the former four-time heavyweight champion, has teamed up with the sports apparel Company Fanatics and its “All In Challenge” to offer one fan and three friends a personal training session and private dinner with the champ in Fort Lauderdale, FL. Read more
›Seventy Percent Of Youth And Recreational Sports Have Resumed In The U.S. | June 22
TeamSnap, the provider of sports management technology, released new data that shows an estimated 70 percent of U.S. youth and recreational team sports activities have returned, or are set to return, in the coming month. Read more
›Outdoor Edge Names New Marketing Director | June 22
Outdoor Edge has named Will Morgan as its marketing director. Morgan brings more than a decade of management and marketing experience to his new position with the Company. Read more
›KORR Acquisitions Group Again Urges GoPro To Explore Sale | June 22
KORR Acquisitions Group Inc., a shareholder with a substantial position in GoPro Inc., sent a second letter to GoPro’s Nicholas D. Woodman, Chairman, Chief Executive Officer and founder of GoPro, and Kenneth Goldman, the company’s lead independent director, with copies to the Company’s Board of Director urging the Company to explore a sale. Read more
