Former Aon CMO Andy Weitz is responsible for positioning the PGA Tour brand for investment while communicating its global strategy and performance to the Tour’s stakeholders and beyond. He will formally begin working with the PGA Tour in mid-August.
Category: Sports/Fitness
PGA of America CEO Exits, Shifts to Advisory Role
Accomplishments include leadership during the pandemic, delivering deferred compensation retirement plan for members, completing PGA Frisco partnership agreements, and growth of the PGA of America Reach Foundation
Life Time Closes on $90 Million Sale-Leaseback
The sale-leaseback transactions will support the company’s progress in reducing its net debt-to-adjusted EBITDA leverage ratio to under three times sooner than forecasted.
EXEC: Wall Street Analysts Downgrade Nike as Competitors Gain Heat
Nike’s move to slash its sales forecast for the year ahead resulted in downgrades from UBS, Stifel, JPMorgan, and Morgan Stanley. Some analysts cited opportunities for Adidas, Lululemon, Hoka, On, and other competitors to gain shelf space as Nike’s overreliance on lifestyle offerings and innovation struggles continue.
EXEC: Nike Shares Plunge on Surprise Sales Warning for Fiscal 2025
Shares of Nike Inc. closed down 20 percent on Friday, June 28, after the company revised its sales forecast to be down in mid-single digits for its fiscal year ended May 31, 2025, including a high-single-digit drop in the first half.
Scott USA Hires Industry Vet as President
Alongside teams based in Salt Lake City and Ogden, UT, Hap Seliga will work to drive growth in the U.S. market and solidify the company’s position in outdoor verticals.
Pickleball Kingdom to Open 25 New Locations in Ohio and Orlando
Spearheaded by franchisees Sanjay and Dhaval Patel, who will build most clubs in Ohio and several in Orlando.
Nike Inc. Beats Q4 EPS Estimates But Warns of Fiscal 2025 Guidance Cut
Nike Inc. reported earnings in the fiscal fourth quartar ended May 31 exceeded analysts’ consensus targets by 17 cents but also warned that it would downwardly adjust its guidance for the coming year due to continued “challenges” in the marketplace.
CityPickle Secures Investment to Fund Expansion
The influx of capital will support CityPickle’s plans to expand the locations of its permanent indoor pickleball club concept in addition to strategic activations at landmarks in urban areas.
Competitive Cyclist Named as Official U.S. Retailer for Tour de France
Competitive Cyclist has secured an exclusive partnership with Amaury Sport Organisation (A.S.O.) as the sole U.S. retailer for this year’s Tour de France products.
Wilson SG Opens New Football Factory in Ohio, Extends NFL Partnership
As part of the multi-year NFL extension, Wilson debuted a new football factory in Ada, OH, as well as becoming the official football of NFL Flag programs internationally, continuing the brands’ joint mission of growing the game across various demographics and countries.
Body Fit Training Inks Master Franchise Agreement for Scandinavia
Body Fit Training said Tage Flugeim signed the agreement, a seasoned fitness operator who opened his own gym and brought Barry’s Bootcamp to Scandinavia 15 years ago as the first international market outside North America.
Feat Clothing Secures New Majority Investor
2.0 Ventures, a private equity firm headquartered in Salt Lake City, acquired a majority stake in Feat Clothing, Inc. Taylor Offer, who founded the California-based athleisure brand in 2014, will transition from his role as CEO to a position on the Board of Directors.
Report: Shein Filed for London Listing in Early June After U.S. Snub
The filing, which would initiate the process for a listing on the London Stock Exchange, comes after the company explored a listing on the Exchange early this year after lawmakers opposed a U.S. listing, Reuters reported in May, citing sources.
WHO Report: Global Levels of Physical Inactivity Among Adults Continues to Rise
In the World Health Organization’s recently published study, physical inactivity is a silent threat to global health, contributing significantly to the burden of chronic diseases, with physical inactivity still more common among women globally than men.
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