Tilton Fitness, which operates seven gyms in New Jersey, announced it is permanently closing due to struggles during the pandemic crisis.
Author: SGB Media
Adidas, Arc’teryx, Vans, Lululemon Join Faceook Boycott
Adidas, Reebok, Lululemon, Arc’teryx and MEC have joined the boycott of Facebook after six civil rights groups called on businesses to stop advertising on Facebook in July to push the social network to do more to combat hate speech and misinformation.
Survey: A Third Of Supply Chain Leaders Exiting China By 2023
A Gartner Inc. survey of 260 global supply chain leaders in February and March 2020 found that 33 percent had moved sourcing and manufacturing activities out of China or plan to do so in the next two to three years. Survey results show that the COVID-19 pandemic is only one of several disruptions that have put global supply chains under pressure.
Earth Shoes Appoints Two Key Product Executives
Earth Shoes has appointed Jocelyn Thornton to the newly created role of executive vice president of product and merchandising, and Fred Allard as creative director of product.
BeaverFit Acquires Mobile Fitness Equipment
BeaverFit, a manufacturer of military outdoor fitness equipment and container gyms, acquired Mobile Fitness Equipment (MFE), one of the nation’s leading providers of mobile fitness training equipment for consumers.
Lululemon To Acquire Mirror Fitness System For $500 Million
Lululemon Athletica Inc. announced that it has entered into a definitive agreement to acquire Mirror, a home fitness start-up that sells a $1,495 wall-mounted machine for streaming workout classes. The purchase price is $500 million.
Soccer Participation On The Rise In The U.S.
Coinciding with professional and youth soccer returning to play, SFIA will release its annual soccer participation report which found soccer participation in the United States increased in 2019 after four straight years of decline.
Amazon Gives Front-Line Workers A $500 Coronavirus Bonus
Amazon is handing over bonuses totaling over $500 million to front-line employees and partners for their efforts during the COVID-19 crisis.
MEC Delays Annual Meeting Amid Coronavirus Challenges
MEC (Mountain Equipment Co-op), Canada’s largest outdoor chain with 22 stores, has postponed its annual general meeting until December 10 is it works to manage challenges related to the coronavirus pandemic.
Exped USA Appoints Sales Director
Exped USA, the maker of expedition equipment, hired Tracy Collins, as sales director. She was at REI.
Outdoor Voices Secures New Funding
Outdoor Voices, an women’s activewear brand, announced that it has raised a new round of funding from NaHCO3, the investment management platform of fashion and retail entrepreneur Ashley Merrill. In conjunction with this equity investment, Merrill has joined Outdoor Voices’ Board of Directors as chairwoman.
Retail Reports Roundup
Retail surveys and studies that arrived last week explored how COVID-19 has impacted Millenials and GenZ shoppers and their openness to discovery — as well as international expansion and changing organizational work structures during the pandemic.
Fitlight Signs WNBA All-Star As Ambassador
Fitlight, the wireless athletic training system driven by light sensors, signed WNBA All-Star Erica Wheeler as an official brand ambassador.
Wall Street Reacts: Nike’s Q420
While Nike missed earnings targets in the fiscal fourth quarter by a wide margin and elevated inventories remain a concern, analysts were encouraged about the brand’s positive online sales momentum and the resumption in growth in China. Most applauded Nike’s move to accelerate its digital transformation and heighten its focus on women’s and apparel. Insights from Piper Sandler, Jefferies, Susquehanna, Baird and Goldman Sachs.
Lululemon To Recruit Head Of Global Diversity Equity And Inclusion
Lululemon plans to hire a head of global diversity equity and inclusion as part of a number of steps to increase diversity across its workforce. The retailer will also provide an additional U.S.$3 million to its social impact program, Here to Be, for a total of U.S.$7 million in 2020.
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