According to JLL Retail Advisory’s back-to-school survey of more than 1,000 parents of school-aged kids, planned back-to-school spending will rise 15.7 percent. The company found that more than half of the parents have budgeted more this year to accommodate higher retail prices.
Category: Sports/Fitness
Trek Recalls Certain Promax Hydraulic Disc Brakes Sold On Trek Bicycles
Trek Bicycle Corp., in cooperation with the U.S. Consumer Product Safety Commission (CPSC), is recalling Promax hydraulic disc brakes sold on Trek Bicycles. The brake hose can detach from the brake lever, posing a crash hazard.
Sound Around, Inc. Recalls Children’s Multi-Purpose Helmet
Sound Around, Inc., cooperating with the U.S. Consumer Product Safety Commission (CPSC), recalled approximately 1,800 Hurtle multi-purpose children’s helmets. The recalled helmets do not comply with the positional stability requirements of the U.S. CPSC federal safety standard for bike helmets.
Pickleball Injuries Could Cost Americans Upwards Of $500 Million In 2023
Pickleball, the fastest-growing sport in the U.S., could cost Americans from $250 million to $500 million in medical costs in 2023 tied to higher injury rates, particularly among seniors, according to a report from UBS.
Under Armour Makes Senior Leadership Changes
Under Armour reported the company made senior leadership changes, including hiring Marriott veteran Jim Dausch as EVP, chief consumer officer, effective July 24, and promoting Danny Miles to EVP, chief technology officer. Effective July 3, Dan Leraris, UA’s head of apparel, will begin serving as the company’s interim CPO.
Xponential Fitness Defends Itself Against Negative Short-Seller Report
Shares of Xponential Fitness, Inc. bounced sharply on Wednesday, after the franchiser of boutique fitness brands, including CycleBar, StretchLab and Club Pilates, denounced a bearish investor’s report that led to a record selloff in the previous session.
L Catterton Appoints Peter Chang As Managing Partner
L Catterton, the consumer-focused investment boutique, hired Peter Chang as managing partner and co-head of Private Credit. With Shahab Rashid, Chang will co-lead the firm’s direct lending strategy.
Signa Sports’ Fiscal Q2 Revenues Slide 24 Percent
Signa Sports United N.V. (SSU) reported a wider operating loss in the fiscal second quarter ended March 31 as sales dropped 23.5 percent. The Berlin-based owner of numerous e-commerce sites focused on tennis, outdoor, and team sports said the results reflect continued weak demand versus pre-pandemic levels and “severely elevated” inventories across the marketplace.
Fanatics Bests DraftKings In Bid For PointsBet’s U.S. Operations
Sports-betting company DraftKings, Inc. is no longer pursuing the acquisition of the U.S. business of PointsBet Holdings, Ltd. The move comes after Fanatics upped its bid for the Australia-based PointsBet’s U.S. business.
TRX Acquires Australian Fitness Equipment Company
TRX announced it acquired YBell, an Australian fitness equipment company, and said the strategic acquisition enhances its patented product offering and training solutions.
Golf Rounds Played Surge In May
Rounds of golf played in May jumped by 10.0 percent on a national level year-over-year and are now running up 5.5 percent for the first five months of 2023, according to Golf Datatech.
SportsShoes.com’s Q1 Sales Climb 20 Percent
U.K.-based SportsShoes.com reported revenues increased 20 percent in the first quarter ended May 31 to £83.8 million ($107 mm).
Report: Asics Cutting Ties with Smaller U.K. Specialty Retailers
Independent sports retailers in the U.K. are reportedly reeling from a move Asics Corp. is making to narrow its distribution in the region. In a recent article published by The Guardian, Asics was said to be “cutting off supply to hundreds of small U.K. outlets…”
Gaia Announces Addition And Changes To Executive Team
Yoga-streaming company Gaia, Inc. hired James Colquhoun as chief operating officer and promoted Kiersten Medvedich to president. Ned Preston was hired as chief financial officer, replacing Paul Tarell, who resigned to pursue other interests.
Mike Ashley Returns To Frasers Group As Consultant
Mike Ashley has reportedly returned to his founding company Frasers Group, the parent of Sports Direct, as a consultant. Ashley, who owns 69 percent of the company, stepped down from the top position last year, later appointing his son-in-law Michael Murray as CEO.
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