TRT Holdings, Inc., the majority shareholder of Gold’s Gym since 2004, said the company will put the iconic fitness brand up for sale to focus more on the company’s core business. TRT has retained Piper Jaffray & Co. to conduct a sales process.
Category: Sports/Fitness
Puma Inks WNBA Deal
The Women’s National Basketball Association (WNBA) signed a league-wide footwear deal with Puma. The deal represents Puma’s first with a professional sports league.
361 Degrees Appoints Ike Alvear Head Of Sales
361 Degrees has added industry veteran, Isaac “Ike” Alvear to the team as head of sales.
Arc’teryx Sales, China Growth Boost Amer Sports In Q2
Double-digit improvement with the Arc’teryx brand and a 21 percent sales growth in China were the primary drivers behind Finland-based Amer Sports’ performance in the second quarter.
Aisle Talk Week of July 23
Top headlines from the active lifestyle industry you may have missed this week, including the U.S. House of Representatives approving the Personal Health Investment Today (PHIT) Act, which allows the use of pre-tax savings accounts for physical activity-related expenses.
Deckers Brands Outlook Disappoints
Deckers Brands handily exceeded the company’s guidance in the first quarter with monster gains from Ugg and Hoka One One. But shares slid on Friday as much of the upside was attributed to earlier-than anticipated shipments and the company only slightly lifted EPS guidance for the year.
Netflix Developing Biopic On Nike Founder Phil Knight
Netflix has picked up the rights to Knight’s best-selling memoir, “Shoe Dog.” Scott Alexander and Larry Karaszewski, who wrote “The People v. O.J. Simpson: American Crime Story,” are penning the script for the adaptation, which will be produced by Frank Marshall and Knight.
Puma Signs Celtics Guard Terry Rozier
Boston Celtics guard Terry Rozier has signed with Puma, Bleacher Report claimed.
NSGA Applauds House For Passing Legislation That Includes PHIT Act
The National Sporting Goods Association (NSGA) applauded the U.S. House of Representatives for including legislation to encourage physical activity in the Heath Savings Account (HSA) reform package that passed a House vote by a 277-142 margin.
Under Armour Takes Bigger Restructuring Hit
Under Armour logged a steep second-quarter loss as the company ramped up the company’s restructuring efforts to further clean up the company’s inventories in the marketplace and reduce the company’s cost structure. The moves are designed to build a sounder foundation to support the company’s promised turnaround starting in 2019.
Deckers Brands Easily Tops Guidance In Q1
Deckers Brands reported that revenues and its loss in the fiscal first quarter ended June 30 easily beat projected guidance. Sales grew 19.5 percent, led by a 17.6 percent gain for Ugg and a 53.1 percent hike at Hoka One One.
Americas Region, Chunkier Styles Drive Puma’s Q2 Growth
Puma SE said it scrambled to catch up to a fashion shift toward bulkier footwear to enable it to continue its robust top-line momentum. But due to higher marketing expenses to maintain that growth, Puma wasn’t able to lift its profit outlook for the year.
Brunswick Corp.’s Adjusted Sales Climb 6 Percent
Brunswick Corp., the parent of Life Fitness, Hammer Strength and Cybex, reported that on an adjusted basis, operating earnings were down 3 percent in the second quarter despite a 6.3 percent revenue gain. Fitness segment sales inched up 1 percent.
HanesBrands Appoints Board Member
HanesBrands announced the appointment of consumer products industry veteran Geralyn R. Breig to the company’s board of directors.
Under Armour See North American Rebound
Under Armour Inc. reported a steep loss in the second quarter after restructuring activities and said the company had planned to spend an additional $80 million on restructuring efforts this year. The loss before charges was in line with Wall Street’s expectations. Sales were ahead of expectations as North American sales grew for the first time in a year.
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