Across SEB’s portfolio of brands, combined franchise sales grew by more than 500 units worldwide, including 284 new non-U.S. locations and systemwide revenues were up 12.3 percent in 2022.
Category: Sports/Fitness
Rep Fitness Strengthens Global Footprint with New Japan Distributor
The company has partnered with Uchinogym as its distributor in Japan empower commercial gyms, home gyms, and more with exclusive access to Rep’s product line.
Pickleball Kingdom Expanding to the Windy City
A series of indoor pickleball clubs across Chicago, spearheaded by GTOne Management Group, which is led by industry veterans Abhilash and Rama.
Baseline Fitness LLC Acquired by Private Investment Firm
The Planet Fitness franchisee, which has 100 locations under its umbrella, was acquired by Mayfair Capital Partners, a division of Oxford Financial Group, Ltd.
EXEC: Gymshark Sees All Regions Grow in Fiscal 2023 But U.S. Growth Slows
The U.S. region, which boasts the largest regional sales volume, grew 9.7 percent year-over-year to £250.4 million. U.K. sales increased 25.6 percent to £111.7 million and Europe revenues increased 16.1 percent year-over-year.
EXEC: Fox Factory’s Q4 and Full Year Results Gutted by Declines in the Bike Business
Consolidated net sales declined 9 percent to $1.46 billion for the full year. The decline for the year was attributable to the Specialty Sports Group Bike segment, which was down $309 million, or 45 percent, year-over-year.
Adidas Tour360 24 Focuses on Fit, Durability and Performance
Adidas focused on three key areas with the new Tour360 24: Fit, Performance and Durability. The Tour360 24 will be available in a variety of colorways in laced and BOA versions for men and women, along with a junior model inspired by the footwear.
EXEC: Bowflex Inc. Warns on Going Concern Status; Lays Out Executive Retention Plan
The company said it now believes that conditions will not improve in the next several quarters, which is negatively affecting its liquidity projections. Management determined there is substantial doubt about the company’s ability to continue as a going concern for 12 months.
G-Form Launches Signature Softball Collection with Fastpitch Star Sierra Romero
Designed in collaboration with Romero, G-Form released the Sierra Romero Signature Fastpitch Elbow Guard.
New Balance Hits $6.5 Billion in 2023; Nearly Doubles Sales Since 2020
The company delivered double-digit record growth in every global market in 2023, reaching $6.5 billion in annual sales, a 23 percent increase from 2022.
Skechers Partners with Vexx on Limited-Edition Collection
Known to the world as Vexx, Vince Okerman’s “doodles” take their inspiration from various sources, including the legendary American artist Keith Haring.
EXEC: Saucony to See Big Decline in 2024 Before Recovery
The fourth quarter was tough for Saucony as sales fell 13.4 percent (-13.7 constant-currency) to $105.1 million, from $121.3 million in the prior-year corresponding quarter.
National Golf Course Owners Association appoints new Board Member
The NGCOA recently selected Bobby Jones Links Founding Partner Whitney Crouse to serve on its Board of Directors. He has spent over three decades developing, building and managing golf properties.
Planet Fitness Q4 Profits Grow as Revenue Inches Up Amid Executive Moves
Franchise segment revenue increased 13.9 percent and Corporate-Owned Stores segment revenue increased 15.9 percent, while Equipment segment revenue decreased 25.5 percent, netting 1.4 percent growth for the quarter.
Planet Fitness Chief Financial Officer to Retire
The news comes a day after Planet Fitness reported to the SEC that former CEO and 20-year company veteran Chris Rondeau resigned from the company’s Board of Directors over job cuts and authority provided the interim CEO.
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