The sports and fitness industry performed well across multiple sectors in 2019, according to the Sports & Fitness Industry Association’s annual State of the Industry Report. In 2019, the industry grew 3.9 percent in one year, representing the largest annual growth in 17 years.
Author: SGB Media
How Nautilus Met The Coronavirus-Driven At-Home Fitness Demand
Count Nautilus Inc. among the so-called “winners” to emerge during the time of coronavirus. Not only did shelter-in-place orders result in closed gyms and heightened social distancing measures over the last two months, forcing people to exercise in the comfort—and safety—of their own homes, but fears of a second wave of COVID-19 are likely to further drive that trend.
April M&A Roundup: CODI, Exxel, Vicis And More
April was another slow month for M&A in the active-lifestyle market as the coronavirus continued to ravage traditional business transactions, but a few deals were either announced or completed, including those from Compass Diversified Holdings (CODI), Exxel Outdoors and Vicis.
Nike To Donate Sneakers To Frontline Healthcare Workers
In recognition of frontline healthcare workers combating COVID-19 around the world, Nike will partner with nonprofit Good360 in the U.S. and local organizations across Europe to donate more than 140,000 pieces of footwear, apparel and equipment globally.
Nordstrom To Permanently Close 16 Stores
Nordstrom Inc. plans to permanently close 16 full-line stores and announced other additional actions to increase flexibility and agility in response to COVID-19. The Seattle-based chain also said it will make changes to how its stores function in a “market-by-market” approach and will move its big Anniversary Sale from July to August.
Wolverine Worldwide Announces Offering Of Senior Notes
Wolverine World Wide Inc. announced an offering $300 million aggregate principal amount of senior notes due 2025. Proceeds will be used to repay borrowings under its revolving credit facility.
Report: Lord & Taylor Preparing To Liquidate
Lord & Taylor is reportedly preparing to liquidate its stores as soon as they reopen, according to a report from Reuters.
Umbro To Sponsor England Rugby
Umbro will replace Canterbury as the kit supplier for England’s rugby team on September 1 under a four-year deal.
Kathmandu’s Online Sales Surge
Kathmandu, the New Zealand-based outdoor chain and owner of Oboz and Rip Curl, reported online sales increased nearly three-fold in April while announcing plans for a staged reopening of physical stores, with a focus on employee and customer safety. The company also said a successful equity raising and cost reduction efforts have solidified its financial position.
PLAY Sports Coalition Secures Congressional Support
Two weeks after initial letters backed by a united front of youth and local sports leaders were delivered to Congressional leadership in the United States Senate and House of Representatives, the bipartisan co-chairs of the Congressional Caucus on Youth Sports, Rep. Ron Kind (D-WI), Rep. Rodney Davis (R-IL), Rep. Marc Veasey (D-TX), and Rep. Kelly Armstrong (R-ND), are the first to join the PLAY Sports Coalition Member Sign-On Letter.
Bogs Q1 Sales Drop 22 Percent
Weyco Group Inc. reported sales of Bogs fell 22 percent on a wholesale basis in the first quarter. Overall sales for Weyco, which also owns the Florsheim, Stacy Adams and Nunn Bush footwear brands, were down 14 percent.
Nautilus Rides Stay-At-Home Fitness Trends To Strong Q1
Nautilus Inc. reported revenue for the first quarter of $93.7 million, up 11 percent from $84.4 million in the year-ago period, driven primarily by strong demand for strength and cardio products, including its new connected-fitness bikes.
Planet Fitness’ Q1 Revenues Sink 14.5 Percent
Planet Fitness reported net earnings tumbled 67.2 percent in the first quarter as sales fell 14.5 percent. The fitness chain outlined many steps it has taken to mitigate the financial impact of COVID-19 and preserve liquidity .
Vista Outdoor Announces Additions To Board of Directors
Vista Outdoor Inc. announced the addition of two independent members, Fran Philip and Lynn Utter, to its board of directors as part of the company’s ongoing board refreshment efforts.
TIA Survey Highlights Challenges For Tennis Retailers
According to a survey from the TIA (Tennis Industry Association) of professional and specialty tennis retailers in the United States, steep sales declines were expected for March and April. Nearly 90 percent of the respondents’ stores were closed when the survey was taken.
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