AlterG Inc. announced the dismissal of its federal trade secret and breach of contract lawsuit against Boost Treadmills LLC and three former employees, pursuant to a confidential settlement agreement.
Category: Sports/Fitness
Iovate Health Sciences Hires CEO
Iovate Health Sciences USA Inc., the parent of MuscleTech, Six Star Pro Nutrition, Purely Inspired, Hydroxycut, and Conscious Kitchen appointed Tim Toll as its new CEO.
Xponential Fitness Debuts GO Online Workouts Across Eight Brands
Xponential Fitness, the parent of Club Pilates, Pure Barre and CycleBar, officially announced the launch of its GO platform, which brings live and on-demand content across numerous boutique verticals to members. Brands within the Xponential Fitness portfolio also include StretchLab, Row House, YogaSix, AKT and STRIDE.
Snap Partners With Headspace
Snap Inc., the parent of Snapchat, announced a series of new features designed to educate and empower members of the Snapchat community to support friends who might be struggling with their own social and emotional wellbeing. This effort includes a new partnership with Headspace, maker of the meditation and mindfulness app, on new tools and premium content.
24 Hour Fitness Files For Bankruptcy
24 Hour Fitness has filed for bankruptcy after the COVID-19 pandemic forced its facilities to shut for months. The chain has permanently closed 100 U.S. locations in 14 states with roughly 300 clubs remaining.
HitTrax Announces $20,000 HitTrax Open For MiLB, Softball And Olympic Players
InMotion Systems, LLC, developer of the HitTrax Data Capture & Simulation System, announced that it will utilize its gaming platform to host the first-ever HitTrax Open to be held on the weekends of July 18 and 25. Marucci Sports and Lizard Skins will co-sponsor the event.
Decathlon Opens Dublin Flagship
Decathlon opened a flagship location in Dublin, marking its first location in the Republic of Ireland. Over the next few years, the French sports retailer expects to open nine outlets Ireland. It already has stores in Northern Ireland.
Nike’s Phil Knight To Receive Honorary Doctorate From Oregon
Phil Knight, who graduated from The University of Oregon with a bachelor’s degree in 1959, will be given an honorary doctorate degree from his alma mater at a virtual ceremony on June 20.
USA Cycling Announces Olympic Long Team For Mountain Bike, Road And Track
USA Cycling announced the men’s and women’s mountain bike, road, and track Olympic long teams, naming the initial lists of athletes from which the final roster for the Olympic Games Tokyo 2020 will be selected next summer. Athletes are still eligible to make the Olympic long teams until May 2021.
Dick’s SG Reinstates Dividend Program, Restores Most Salaries
Dick’s Sporting Goods, Inc. announced the reinstatement of its dividend program. The retailers also announced that with nearly 100 percent of its stores expected to have re-opened to the public by June 30, it has restored previously reduced salaries for all employees, except for certain executives, and has returned substantially all associates from furlough.
Accell Group Sees Bike Sales Rebound In May As Europe Re-Opens; Cuts Dividend
Accell Group N.V. reported that bike sales in May rebounded after weak March and April sales. The Dutch company also said it had arranged “an additional credit facility as a precautionary action to secure robust access to liquidity in light of the uncertainty and volatility caused by the COVID-19 pandemic.”
Survey Finds Majority Of Fans Ready To Return To Live Events
Nearly 55 percent of fans are ready to return to live events today with another 45 percent cautiously optimistic to come back within the year once events return if crowd sizes are limited and social distanced seating options are offered, according to a survey from Experience, an Atlanta-based mobile ticketing app.
Varsity Brands Offering $100 Million Of Debt
Varsity Brands Holding Co. and its Hercules Achievement subsidiary are jointly offering $100 million of senior secured notes due 2024. The proceeds will be used to pay down borrowings on its revolving credit facility.
Equinox Holdings’ Debt Ratings Downgraded
S&P Global Ratings said it lowered the debt ratings on Equinox Holdings Inc. due to plans to issue an unrated $150 million first-lien B-2 term loan due 2024.
Lululemon DTC Surges To 54 Percent Of Sales In Fiscal First Quarter
Lululemon Athletica Inc. reported that net revenue for the first quarter ended May 3 was $652.0 million, a decrease of 17 percent compared to the first quarter of fiscal 2019.
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