Wolverine World Wide Inc. announced an offering $300 million aggregate principal amount of senior notes due 2025. Proceeds will be used to repay borrowings under its revolving credit facility.
Category: Sports/Fitness
Umbro To Sponsor England Rugby
Umbro will replace Canterbury as the kit supplier for England’s rugby team on September 1 under a four-year deal.
PLAY Sports Coalition Secures Congressional Support
Two weeks after initial letters backed by a united front of youth and local sports leaders were delivered to Congressional leadership in the United States Senate and House of Representatives, the bipartisan co-chairs of the Congressional Caucus on Youth Sports, Rep. Ron Kind (D-WI), Rep. Rodney Davis (R-IL), Rep. Marc Veasey (D-TX), and Rep. Kelly Armstrong (R-ND), are the first to join the PLAY Sports Coalition Member Sign-On Letter.
Planet Fitness’ Q1 Revenues Sink 14.5 Percent
Planet Fitness reported net earnings tumbled 67.2 percent in the first quarter as sales fell 14.5 percent. The fitness chain outlined many steps it has taken to mitigate the financial impact of COVID-19 and preserve liquidity .
TIA Survey Highlights Challenges For Tennis Retailers
According to a survey from the TIA (Tennis Industry Association) of professional and specialty tennis retailers in the United States, steep sales declines were expected for March and April. Nearly 90 percent of the respondents’ stores were closed when the survey was taken.
Road Runner Sports To Host A Virtual Race
Road Runner Sports has partnered with Stride, the boutique fitness franchise that offers treadmill-based cardio and strength workouts, to host a national virtual race on June 3, which is Global Running Day.
Embody Secures Funding
Embody, Inc., a privately-held medical device company focused on soft tissue repair, closed a $9.3 million Series A funding round. The financing will support the commercial launch of Tapestry, its next-generation soft-tissue repair technology.
CODI Sets Senior Unsecured Notes Offering
Compass Diversified Holdings (CODI) announced that the company intends to commence a private add-on offering of $200 million aggregate principal amount of the company’s 8.0 percent senior notes due 2026.
Disabled Sports Merges With Adaptive Sports To Become Move United
Disabled Sports USA and Adaptive Sports USA are merging to become Move United. This new organization will lead the movement to fully include people with disabilities in American society, using sport to challenge perceptions and redefine ability for youth and adults with disabilities.
Gold’s Gym Files For Chapter 11 Bankruptcy Protection
Gold’s Gym filed for Chapter 11 bankruptcy protection Monday as the fitness chain deals with the closure of outlets across the country due to coronavirus. The filing does not involve franchise-owned gyms and the company expects to emerge from bankruptcy proceedings by August.
Compass Diversified Holdings Announces Common Share Offering
Compass Diversified Holdings commenced a public offering of 5 million common shares, with a 30-day option for the underwriters to purchase up to an additional 750,000 common shares.
Topgolf’s Debt Rating Downgraded
Moody’s downgraded the debt ratings of Topgolf International over concerns that the coronavirus outbreak will hamper its ability to operate its venues until the spread of the virus subsides.
Puma Close To Signing Raheem Sterling
Puma is reportedly close to signing Raheem Sterling, the Manchester City soccer star, to a record-breaking endorsement to become the face of the brand’s soccer strategy. Sterling is currently with Nike.
Wanda Sports’ Revenues Slide In 2019, Warns On COVID-19 Impact
Wanda Sports Group Co., the China-based owner of Ironman, the Rock ’n’ Roll Marathon series, Cape Epic mountain biking event, reported total revenue was €1.03 billion (US$1,156.5 million) in 2019, a decrease of 9 percent compared with 2018. The company also warned that by April 2020, substantially all of its sports events had been canceled or postponed “and it is currently unclear when these sport events will resume.”
Theragun Rebrands To Therabody
Theragun, the maker of hand-held percussive therapy devices, announced its rebranding to Therabody. The change comes as the company announced plans to launch a USDA certified organic CBD line, TheraOne, as well as Theragun’s 4th generation percussive massage devices.
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