Garmont International Secures New Investor

Garmont International, based in Treviso, Italy, announced that Italian Strategy Private Equity (ISPE), managed by Riello Investimenti Partners Sgr Spa, has entered into the share capital of the company with a 65 percent stake in its shares. Of the remaining 35 percent, Pierangelo Bressan, current president and CEO, holds 30 percent and will continue in his present role.

Accell Group’s Sales Climb 17 Percent In 2020

Accell Group N.V. reported sales grew 17 percent in 2020, to €1.3 billion ($1.53 bn). The parent of Haibike, Koga, Batavus, and Raleigh said the gains were due to fast recovery after first lockdowns and sustained high demand for bicycles, parts and accessories across Europe.

Hibbett Sports Fourth Quarter Earnings Surge

Profits at Hibbett Sports Inc. catapulted 168 percent in the fourth quarter ended January 30 as same-store sales ran up 21.9 percent. Mike Longo, president and chief executive officer, said in a statement, “The strong momentum that we experienced in our business in the second and third quarters continued in the fourth quarter.”

USA Cycling Hires Chief Marketing Officer

USA Cycling has named Matt Heitmann as chief marketing officer overseeing marketing and membership. Heitmann joins the organization after leading marketing efforts of multiple industry organizations, including The Pro’s Closet, Canyon and BMC.

Burlington Stores Q4 Same-Store Sales Flat

Burlington Stores reported earnings fell 24.2 percent in the fourth quarter on flat comp sales. The off-pricer also set a new store target to reach 2,000 stores, up from the previous goal of 1,000 stores.

Academy Sports Appoints Board Member

Academy Sports and Outdoors Inc. announced the appointment of Tom Nealon to its Board of Directors, effective today.  With the addition of Nealon, Academy’s Board comprises ten directors.