Top headlines from across the active lifestyle industry featured in SGB during the week of November 25, 2019.
Author: SGB Media
Silofit Raises C$1M In Seed Funding
Silofit, a Montreal-based network of private, on-demand fitness spaces, raised Canadian $1 million in seed funding. The round was led by Whitecap Venture Partners and Courtside Ventures, with participation from NFL player Ndamukong Suh.
SoulCycle CEO Resigns
Melanie Whelan, SoulCycle’s CEO since 2015, has resigned. Sunder Reddy, SoulCycle’s CFO since 2017, will assume the role of interim CEO while a search for a permanent replacement begins.
NRF: Half Of Holiday Shoppers Have Already Started
More than half of consumers have already started their holiday shopping and nearly a quarter of purchases have already been made, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.
Moody’s Downgrades Pure Fishing’s Debt Ratings
Moody’s Investors Service downgraded Pure Fishing’s Corporate Family Rating (CFR) to B3 from B2 and revised the rating outlook to negative from stable.
OrderMyGear Promotes Matt Kaplan To SVP Of Revenue
OrderMyGear announced that Matt Kaplan has been promoted to SVP of revenue.
Report: Anta Exploring Sale Of Precor
Anta Sports Products Ltd. , which acquired Amer Sports in March 2019, is exploring a sale of Precor, the fitness equipment maker, after receiving interest from buyers, according to a report from Bloomberg.
Kevin Durant’s Thirty Five Ventures Joins Canopy Rivers’ Strategic Advisory Board
Canopy Rivers Inc. , a Toronto-based venture capital firm specializing in cannabis, has further bolstered its Strategic Advisory Board, adding Thirty Five Ventures, the business owned by NBA star Kevin Durant and sports business executive Rich Kleiman.
Skechers Completes New $500 Million Senior Unsecured Credit Facility
Skechers USA, Inc. announced the closing of a new $500 million, five-year, senior unsecured credit facility. This new credit facility replaces the $250 million asset-backed credit facility that Skechers entered into in 2015, which was due to expire in June 2020.
Report: Facebook Was Mystery Bidder For Fitbit
Google outbid Facebook to acquire Fitbit Inc., but the social media giant never acknowledged its interest in the wearables maker, according to a report from CNBC that cited unnamed sources familiar with the deal.
Tariff Impact Offsets Famous Footwear’s Solid Q3 For Caleres
A solid showing from Famous Footwear helped drive Caleres to record revenue in the third quarter, but the impact of tariffs took a toll during the period and should persist into Q4, the company said Monday. The increased tariffs, specifically those on List 4A, resulted in adjusted earnings per share of 78 cents, which missed Wall Street’s target by 5 cents.
Norrona To Open Flagship Store In Manhattan In Early December
Norrona, the four-season Norwegian outdoor brand renowned for its premium and sustainably built outerwear, opens the doors of its third global flagship brand center in the SoHo neighborhood of New York City on December 6.
LEM Helmets Names Ken Baker As Global Product Manager
LEM Helmets, manufacturer of head protection for cycling and motorsports, named seasoned industry vet Ken Baker to the team as global product manager.
REI Co-op To Open Store In Gainesville, FL
REI Co-op is opening a new store in Gainesville, FL, in spring 2020. The 23,000-square-foot store will be located at the Butler Town Center at 3650 Southwest 32nd Court.
Hanesbrands CFO To Depart
Hanesbrands Inc., the parent of Champion, said that Chief Financial Officer Barry A. Hytinen has notified the company of his decision to leave Hanesbrands to accept another career opportunity outside of the apparel industry. Hytinen will continue to serve as Hanes chief financial officer until the end of the fiscal year, Dec. 28, 2019.
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