SGB Executive Sports & Fitness
EXEC: Axe Falls Again in Callaway Ad Debacle as Good Good Leadership Ousted
Good Good Golf CEO Matt Kendrick and company President have both stepped down from their roles amid continued fallout from an ad promoting a co-branded Callaway Golf driver that was widely criticized on social media for trivializing violence against women.
EXEC: Oura Makes Board Appointments
The Finnish maker of smart rings that track health, fitness and sleep , which recently confidentially filed for an initial public offering, will appoint Jason Warnick, Leslie Kilgore, Miki Kuusi, and David Sze to its board of directors
SGB Media Closed for Labor Day Holiday Weekend
In observance of the Labor Day holiday, SGB Media will be closed after noon on Friday, September 4 and for the full day on Monday, September 7. SGB Media will return to the office and resume newsletter publication on Tuesday, September 8.
EXEC: GoPro Goes Big in Merger with Starman Optical, Extends Reach into AI Infrastructure
Hey, if Allbirds can become Smartbird and transition into a sector where capital is plentiful, why can’t GoPro take the AI route and create a StarPro? Pure speculation there but Starman’s U.S.-made optical transceivers are expected to be added to GoPro’s portfolio, extending the company’s reach into the large and rapidly growing market for AI infrastructure in optical transceivers.
EXEC: Kappa Signs Superdry Co-Branding Deal
Italian sportswear label Kappa signed a long-term co-branding agreement with Britain’s Superdry & Co. covering apparel and footwear across the UK and select European markets.
EXEC: Oakley, Ray-Ban, Supreme Parent Launches Stock Buyback Program
EssilorLuxottica said the launch of a share buyback program reflects the eyewear maker’s “confidence in its value creation and long-term prospects.” The program calls for the buyback of up to 5 million shares, depending on market conditions.
EXEC: New Wave Group to Acquire German Team Sports Supplier Uhlsport
New Wave Group signed an agreement to acquire 100 percent of the shares in Uhlsport GmbH, a German-based maker of equipment, clothing, and accessories primarily for global football (soccer) and handball under the Uhlsport and Kempa brands.
EXEC: Study Finds GLP-1 Users Big Spenders on Fitness
A study from The Consumer Collective shows GLP-1 users taking weight-loss drugs like Ozempic and Wegovy spend $449 a month on fitness, nearly four times the $120 spent by non-users. The study found GLP-1 users are more likely to pay for a gym membership (81 percent, against 43 percent of non-users) and spend more on personal training, supplements, and recovery.
EXEC: Nike, Inc. Sees Stock Downgrade Following Dick’s SG Guidance Cut
Truist Securities became the latest investment firm to reduce its stock rating on Nike Inc. as last week’s downward EPS revision by Dick’s Sporting Goods lowered the firm’s expectations around Nike’s recovery.
EXEC: Decathlon To Acquire 50 Percent of Sport 2000 France
Decathlon plans to acquire a 50 percent stake in the French retail chain Sport 2000 to strengthen its position in France’s rural areas and ski resorts. Decathlon only has five stores in the French Alps and Pyrenees.mountains while Sport 2000 has 190.
EXEC: Lululemon Projected to Deliver Challenging Q2 Ahead of New CEO’s Debut
Lululemon Athletica Inc. is expected to see a sharp decline in Q2 earnings when it reports results this Thursday, September 3. Some analysts believe the retailer may further reduce full-year guidance amid worsening sales trends in the U.S. as investors anxiously await to hear turnaround plans from incoming new CEO, Heidi O’Neill.
EXEC: PureGym’s Operating Profits Climb 23 Percent in First Half, Paced by U.S.
PureGym, the U.K.-based fitness chain that recently entered the U.S., reported adjusted EBITDA (earnings before interest, taxes and depreciation) grew 23 percent in the first half on a 6 percent revenue gain.
EXEC: On Brand Opens Store in Dallas, Texas, its 16th in the U.S. Market
The store, located in the city’s NorthPark Center upscale shopping mall, spans approximately 3,000 square feet and offers a full range of On footwear, apparel and accessories.
EXEC: Nike Inks Amendment to Brazil Distribution Agreement
The amendment provides for a rolling basis renewal mechanism, whereby the parties shall meet annually to discuss the extension of the term of the Distribution Agreement for additional periods of one year.
EXEC: Gap, Inc. Expects Athleta’s Q2 Weakness to Carry Over into Second Half
Gap Inc. reported that same-store sales at Athleta fell 12 percent in the second quarter, the banner’s sixth straight quarter of declines. Similar results are expected in the back half as Athleta…
