SGB Sports & Fitness

SGB Update

Nike Board Member Plans to Retire from Board

Cathleen Benko, a former leader in Deloitte’s “Digital Giants” practice, plans to retire as a member of Nike’s Board of Directors, effective as of the company’s 2025 annual meeting of shareholders.

Fabletics Appoints President and Chief Marketing Officer

The operater over 100 stores, announced the expansion of Meera Bhatia’s role from chief operating officer to president and chief operating officer and the promotion of Carly Gomez to chief marketing officer.

S&S Activewear’s Debt Outlook Lowered to Negative on Promotional Industry Softness

S&P Global Rating reduced its outlook on S&S Activewear to negative as the imprintable apparel distributor has underperformed the rating agency’s EBITDA and free operating cash flow (FOCF) expectations since the acquisition of Alphabroder in the second half of 2024, due largely to continued softness in the promotional products industry.

Life Time’s Debt Upgraded on Improved Performance

S&P Global Ratings upgraded Life Time Inc., citing the fitness club operator’s strong performance with healthy underlying demand and membership trends driving EBITDA growth and leverage reduction

SGB Executive

Report: Nike to Delay Launch of NikeSkims

Reuters is reporting that Nike’s launch of its planned NikeSkims activewear brand in the U.S. has been delayed as the two companies work to get the product right, according to a company spokesperson.

EXEC: Nike Faces Needham Price Target Cut on Slow Recovery

Needham analysts trimmed their price target on Nike to $66 from $75 amid ongoing weakness in brand momentum and a slower-than-expected path to recovery. Needham’s Tom Nikic wrote, “NKE still faces headwinds from rationalizing over-supplied product franchises (Jordan, Dunk), brand heat still appears to be lukewarm, and they now have tariffs to contend with as well.”

EXEC: OIA Study Finds Outdoor Stores Still Missing Emerging Casual Consumers

At a session this week at Switchback Spring being held in Nashville, Kelly Davis, director of research at the Outdoor Industry Association, highlighted new consumer research that shows the outdoor space remains fixated on “Core” consumers at the expense of reaching the more “Active” and “Casual” participants.