The new gym, located in a former Gordmans space in Lincoln, NE, has 55,000 square feet and $1 million worth of fitness equipment. The gym is set to open on January 5.
Category: Sports/Fitness
Nikola Jokić Inks Signature Shoe Deal with 361° Footwear Brand
Jokić will debut his first signature performance basketball shoe with 361° shortly. Until then, he will wear the Big 3 Future High on-court, the latest performance basketball shoe from 361°.
In Memorium: Remembering the Active Lifestyle Leaders Lost In 2023
As the year closes, SGB Media remembers the active lifestyle industry business leaders who passed in 2023 and once again acknowledges their contributions to the market.
Report: Merchandise Returns Reach 14.5 Percent in 2023
According to the report released by the National Retail Federation and Appriss Retail, for every $1 billion in sales, the average retailer reportedly incurs $145 million in merchandise returns. Online sales do see a higher return rate, at 17.6 percent.
Report: U.S. Holiday Season Retail Sales at Low End of Forecast
U.S. retail sales, excluding automotive, increased 3.1 percent year-over-year this holiday season, according to a report from Mastercard SpendingPulse measuring the period from November 1 through December 24.
Happy Holidays From SGB Media
In observance of the Christmas holiday, SGB Media is taking time to be with family and will not publish the SGB Updates on December 25. Publishing will resume on December 26 with one Update newsletter daily through December 29.
EXEC: Nike’s Reduced Outlook, Planned Cuts and Market View Takes Broader Market Down
Nike, Inc. announced a broad restructuring program while slashing revenue guidance for its fiscal year amid softening online sales, promotional pressures and heightened macro headwinds, particularly in China and the EMEA. For its fiscal year ended May 31, 2024, sales are now projected to increase only 1 percent against a prior outlook of up mid-single-digits.
Nike to Undergo Layoffs, Cost-Cutting Amid Weakening Sales Outlook
Nike, Inc. reported earnings in its fiscal second quarter ended November 30 topped analyst expectations but also announced a program to cut costs by about $2 billion over the next three years, including through layoffs, as it sees a “softer” sales outlook for its fiscal second half.
TRX Partners with Club Pilates and YogaSix
TRX collaborated with Xponential Fitness brands YogaSix and Club Pilates to create a custom TRX Suspension Trainer for both brands.
Nordstrom Rack To Add Another Houston Location in Fall 2024
The store will occupy 34,000 square feet in the Meyerland Plaza, among Texas’s Top 5 most visited open-air shopping centers. The retailer operates eight Nordstrom stores and 23 Nordstrom Rack stores in the state.
Jason Mayden Returns to Jordan Brand as Chief Design Officer
Jason Mayden, recently president of Fear of God Athletics, is returning to Nike as senior global design director of Jordan Brand.
IHRSA Finds Gym Memberships Surpass Pre-Pandemic Levels
The total number of Americans who were members of a fitness club in 2022 increased by a record 3.7 percent to 68.9 million (ages six and older).
EXEC: Report Finds Troubling Core Participation Trend in Team Sports
SFIA’s recently released U.S. Trends In Team Sports Report noted that participation in 16 of 23 team sports tracked by the Association has not returned to pre-pandemic levels, and only one sport, soccer, showed Core Participation gains in the 2019-2022 period. However, the SFIA report offered more encouraging findings in team sports trends.
U.S. Consumer Confidence Rises to 5-Month High in December
The Conference Board reported that its Consumer Confidence Index rose to 110.7 million in December, up from a downwardly revised 101.0 in November in an indication that concerns about a recession in the U.S. are lessening. The Index improved for the third consecutive month, reaching its highest level since July.
Tonal Launches Trade-In Program for Lululemon Mirror Customers
Tonal launched a “Mirror Trade-In” program for Lululemon Studio customers as Lululemon phases out the fitness device.
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