Moody’s Investors Service assigned a B2 rating to Varsity Brands Holding Co., Inc.’s new senior secured first lien notes due December 2026. Varsity Brands is the parent of BSN Sports and Varsity Spirit.
Author: SGB Media
Solo Brands Delivers 8 Percent Q3 Revenue Growth On Wholesale Boost
Solo Brands Inc. reported significant improvement in adjusted earnings in the third quarter ended September 30 as sales advanced 8.0 percent, led by wholesale channel gains. The company, based in Grapevine, TX, reiterated its outlook for the year.
Planet Fitness Sees 8.4 Percent System-Wide Comp Growth
Planet Fitness, Inc. reported net earnings jumped 45.3 percent in the third quarter ended September 30 as total revenue grew 13.6 percent and system-wide same-store sales increased by 8.4 percent.
Wattbike Appoints E-Commerce Specialist
Indoor cycling brand Wattbike hired Ahmed Khodja as the director of direct-to-consumer, a new role for the company. He joins Wattbike with a “formidable track record in e-commerce strategy, following a decade working for Fanatics.
Nike Accuses New Balance, Skechers of Patent Infringement
Nike filed federal lawsuits against New Balance and Skechers, charging several New Balance shoes and Skechers sneakers with misusing the brand’s patented Flyknit technology for running, soccer and basketball shoes.
DPS and Phantom Glide Partner with Members of All Mountain Group
DPS Skis and Phantom Glide will work with All Mountain Group reps Tyler Merritt and Erik Mushial starting with the fall 2023 sales season.
Free Fly Taps Former Quiksilver VP to Run Global Wholesale Effort
An industry veteran and advocate for surfing, Reilly brings his “knowledge, enthusiasm and connections within the surf industry to his new role.”
Smith Optics Gives Nice Lift to Parent Co. in Third Quarter
At constant-currency exchange rates, the company’s sales decreased 3.9 percent in Q3, improving from the 6.6 percent decline recorded in Q2, which was said to be mainly due to the return to growth of the Smiths Sports business in North America.
Sports Basement to Open Store in Long Beach
Sports Basement is opening a location in a former Sears store in Long Beach, CA. The opening will mark the Bay Area sporting goods chain’s second location in Southern California after opening in Fountain Valley in 2022.
ISPO Partners with Joor on Long-Term Deal
The giant sports tradeshow ISPO Munich and digital wholesale ecosystem JOOR have entered into a long-term partnership that aims to enhance and extend the digital selling opportunities available to ISPO brands.
General RV Center Appoints Sales Manager
General RV Center, the family-owned RV dealer based in Wixom, MI, promoted Nicole Akers from sales associate to sales manager.
IHRSA Bolsters Advocacy Team
IHRSA, which advocates for the Health and Fitness Industry, hired Charles Regnante as government affairs manager.
Zelig Secures Funding Led by Hilco
Zelig, based in Los Angeles, reported it secured $15 million in Series A funding to support the launch of its AI-powered virtual try-on and styling technology (VTO-S). Hilco Global led the funding round, joined by luxury investor Bezikian Zareh, which brings the company to a $100 million valuation.
Lightspeed Commerce Revenues Jump 25 Percent in Fiscal Q2
The POS and payments platform used in the bike shop segment, with expansion into other active lifestyle specialty retail segments, reported strong fiscal Q2 progress in its key fiscal 2024 objectives.
Grand Rapids’ Al & Bob’s Sports to Close
Al & Bob’s Sports, the hunt & fish shop in Grand Rapids, MI, is closing after more than five decades.
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