24 Hour Fitness on Monday filed for bankruptcy protection as the gym chain deals with the fallout from closures due to the coronavirus. In an affidavit, Daniel Hugo, chief restructuring officer, wrote, “Put simply, the COVID-19 pandemic upended the debtors’ operating model, leaving the debtors without a source of revenue to fund their operations.”
Author: SGB Media
HanesBrands Still Sees Champion Hitting $3 Billion In Annual Sales
Speaking Monday at the Evercore ISI Virtual Consumer & Retail Summit, Gerald Evans, HanesBrands’ CEO, said he remains confident that Champion will reach its goal of hitting $3 billion in sales in coming years despite the negative impact from COVID-19.
Oofos Partners With Pro Football Hall Of Famer Deion Sanders
“These are the most comfortable slides I’ve ever worn in my life. This is coming from a dude who is 52, has had three toe surgeries and is in need of a fourth. These shoes changed the game for me!” -Deion Sanders
24 Hour Fitness Files For Bankruptcy
24 Hour Fitness has filed for bankruptcy after the COVID-19 pandemic forced its facilities to shut for months. The chain has permanently closed 100 U.S. locations in 14 states with roughly 300 clubs remaining.
HitTrax Announces $20,000 HitTrax Open For MiLB, Softball And Olympic Players
InMotion Systems, LLC, developer of the HitTrax Data Capture & Simulation System, announced that it will utilize its gaming platform to host the first-ever HitTrax Open to be held on the weekends of July 18 and 25. Marucci Sports and Lizard Skins will co-sponsor the event.
New Campaign Touts Fishing And Boating For Pandemic Stress Relief
As COVID-19 continues to wear on Americans’ mental health, Take Me Fishing and Discover Boating are launching a new public service campaign called Get On Board to raise awareness about the wellness benefits of fishing and boating.
Valerie Dixon To Oversee American Baitworks Pro And Field Staff, Special Events
Valerie Dixon has joined the team at American Baitworks Co. as pro staff manager and event coordinator.
Decathlon Opens Dublin Flagship
Decathlon opened a flagship location in Dublin, marking its first location in the Republic of Ireland. Over the next few years, the French sports retailer expects to open nine outlets Ireland. It already has stores in Northern Ireland.
Salt Life Sees Robust DTC Sales In May
Delta Apparel Inc. announced strong direct-to-consumer sales results for its Salt Life brand, including its ten owned and operated branded retail stores and its branded e-commerce site for the month ended May 30.
Nike’s Phil Knight To Receive Honorary Doctorate From Oregon
Phil Knight, who graduated from The University of Oregon with a bachelor’s degree in 1959, will be given an honorary doctorate degree from his alma mater at a virtual ceremony on June 20.
USA Cycling Announces Olympic Long Team For Mountain Bike, Road And Track
USA Cycling announced the men’s and women’s mountain bike, road, and track Olympic long teams, naming the initial lists of athletes from which the final roster for the Olympic Games Tokyo 2020 will be selected next summer. Athletes are still eligible to make the Olympic long teams until May 2021.
Dick’s SG Reinstates Dividend Program, Restores Most Salaries
Dick’s Sporting Goods, Inc. announced the reinstatement of its dividend program. The retailers also announced that with nearly 100 percent of its stores expected to have re-opened to the public by June 30, it has restored previously reduced salaries for all employees, except for certain executives, and has returned substantially all associates from furlough.
Lululemon Now Has 60 Percent Of Stores Open With China Comps Up Double-Digits
Lululemon Inc. broke down their fiscal first quarter in three phases as COVID-19 cut into its quarter that started strongly across the business and evolved into primarily an e-commerce play by quarter-end on May 2.
Snow Season Dragged Down By Brutal March Results
Hit by a double-whammy of closures of stores and resorts to slow the spread of the coronavirus, sales across the snowsports industry were down 43 percent in dollars and 45 percent in units in the month of March according to SIA’s U.S. Snow Industry Retail Market Report. The tough month caused the snow industry to show a near mid-single-digit decline for the 19/20 snow season.
Aisle Talk Week Of June 8, 2020
On Monday, NYC started to reopen 100 days after the city reported its first case of the coronavirus. As the epicenter of the outbreak here in the U.S., many stores are offering curbside and in-store pickup. More top National Stories and the Latest Headlines across the Active Lifestyle Market during the week of June 8, 2020 follow in this week’s reporting in the SGB Updates.
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