SGB Updates

Report: 24 Hour Fitness Exploring Bankruptcy

May 29, 2020SGB Updates

24 Hour Fitness is considering bankruptcy protection that could come in weeks as it seeks a financing package to stay open after the coronavirus pandemic, the Wall Street Journal reported. (Read More)

Earwear And Wristbands Drive Q1 Growth In Wearables

May 29, 2020SGB Updates

Global shipments of wearable devices grew 29.7 percent year over year during the first quarter of 2020 (1Q20) as total device volume reached 72.6 million units according to new data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker. However, the growth was disproportionately spread across the various form factors as growth in wristbands and earwear/hearables was more than enough to offset the decline from smart and basic watches. (Read More)

Slinger Bag Appoints Tom Dye As COO

May 29, 2020SGB Updates

Slinger Bag announced the appointment of Tom Dye as chief operating officer. He previously worked for Prince Global Sports, Wilson Sporting Goods and HazTek. (Read More)

Adidas And Allbirds Collaborate To Accelerate Sustainable Footwear Design

May 29, 2020SGB Updates

Adidas and Allbirds announced a partnership that seeks to "open the doors to each other's suite of sustainable innovations" in an attempt to create a shoe with the "lowest carbon footprint ever recorded." This marks the first time in Adidas' history in which the brand has collaborated with another footwear brand not under its umbrella. (Read More)

Premier League To Return June 17

May 29, 2020SGB Updates

The English Premier League, the most-watched league in the world, has agreed to a provisional return on June 17. Due to COVID-19, matches will take place behind closed doors. (Read More)

Nordstrom’s Q1 Revenues Sink 40 Percent

May 29, 2020SGB Updates

Nordstrom Inc. reported a loss of $521 million in the first quarter that included impairment charges related to store closures, premium pay and benefits and restructuring charges. The retailer said the quarter reflected actions to strengthen its financial flexibility through inventory and overhead cost reductions and position the business for the long-term through an acceleration of its strategic initiatives. (Read More)

Burlington Stores Q1 Sales Decline By Half

May 29, 2020SGB Updates

Burlington Stores Inc. reported revenues tumbled 51 percent in the first quarter ended May 2 as all of the off-price stores closed on March 23 and remained close for the remainder of the quarter. Over 400 stores will have reopened by this weekend. (Read More)