Moody’s Ratings downgraded Fanatics Commerce’s debt ratings as second-quarter results for the online retailer of licensed sports merchandise showed EBITDA and free cash flow remained negative.
Author: SGB Media
Survey: SMB Retailers Optimistic on In-Store Holiday Shopping
The 5th Annual State of Small Business Survey by Verizon Business revealed that 52 percent of small and medium-sized businesses and retailers are gearing up for an in-store holiday season, an increase of 13 points from 2023.
BSN Sports and Varsity Spirit Parent Hit by Data Breach
Varsity Brands, the parent of BSN Sports and Varsity Spirit, disclosed that more than 65,000 individuals may have had their personal information stolen due to a data breach that occurred earlier this year.
Report: September Retail Sales Top Expectations, Led by Clothing and Footwear
U.S. retail sales increased a seasonally-adjusted 0.4 percent month-over-month in September, up from the unrevised 0.1 percent gain in August, according to the U.S. Department of Commerce. The performance was slightly ahead of the 0.3 percent the Dow Jones forecasted.
ICSC Holiday Survey Sees Consumers Spending the Most Since 2018
ICSC also released its forecast for the Holiday selling season based on results gathered in its Annual Holiday Shopping Intentions Survey. It indicates that retail sales are expected to grow from 3.0 percent to 3.5 percent.
The Picklr to Expand its Pickleball Format into Canada
The Picklr reported YTD that it has sold “over 390 locations in 42 states, with plans to open at least 30 new clubs in 2024 and an additional 70 in 2025.”
Needham Hires Tom Nikic as Apparel and Footwear Analyst
Needham & Co. has hired Tom Nikic, a veteran analyst in the active lifestyle space, as managing director, equity research, apparel & footwear.
TSG Consumer Partners Appoints Managing Director
TSG Consumer Partners announced the expansion of its portfolio operations group, TSG Vantage and appointed of Brian Crandall as managing director.
BRP Inc. to Sell Off its Marine Businesses Excluding Sea-Doo
BRP will channel its efforts and investments into its Powersports year-round products, seasonal products, parts, accessories, and apparel portfolio, including its OEM business.
Report: U.S. Fitness Facility Memberships Reach Historic High
Beyond membership growth, HFA reported that fitness facility attendance increased for a third consecutive year. The average member visited a fitness facility 81 times in 2023, up from 78 visits in 2022 and 72 visits in 2021.
EXEC: Frasers Group Managing Director of Sport to Step Down
The parent company of Sports Direct, Everlast, and Slazenger, reported that Ger Wright will leave her role as managing director of Sport at the end of November. Wright will remain on the Group’s Board as a non-executive director.
REI Sets Opening of First Kentucky Store
The store, located in the Paddock Shops in Louisville, KY, with a footprint of approximately 31,100 square feet, will open on November 8. It offers online pickup in-store and at curbside and employs 50 people.
Sony Expands Sports Data Business With KinaTrax Acquisition
KinaTrax camera systems are used in over 75 stadiums and labs across Major League Baseball, Minor League Baseball and NCAA member organizations, with expansion into other sports leagues. The technology has collected biomechanics data for pitchers and hitters in baseball games.
Rural King Opens its First Store in Georgia
The store boasts a wide range of outdoor lifestyle and work brands, including Ariat, Browning, Carhartt, Columbia, Frogg Toggs, Henry Rifles, Huk Apparel, Keen Utility, Plano, Realtree, Remington, Under Armour, and Wolverine.
BOA and Primaloft Parent Launches Stock Buyback Program
Compass Diversified, owner of BOA, Primaloft, 5.11 Tactical, Velocity Outdoor and other active lifestyle brands, said its board authorized the repurchase of up to $100 million of stock.
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