SGB Sports & Fitness

Puma Extends Scuderia Ferrari Partnership

In the coming years Puma will also continue to be the licensing partner for Ferrari-branded products and the supplier of F1 team and race wear for Ferrari and will become its premium partner starting in 2024.

Pvolve Opens Second Franchise Studio

The newly opened Pvolve location in Carlsbad, CA builds on the company’s pipeline of franchise locations coming to market. The new studio is owned and operated by local husband-and-wife, Kristin and Jeff Springborn.

Foot Locker’s Debt Ratings Lowered by S&P

S&P Global Ratings downgraded the debt ratings of Foot Locker, Inc. following the sneaker giant’s report of weaker-than-expected second-quarter earnings amid elevated promotional activity and weak consumer demand.

POC Appoints Cycling Industry Vet as New CEO

POC, based in Sweden, has appointed Derek Bouchard-Hall as CEO. Before joining the helmets, eyewear, protection, and apparel manufacturer, Bouchard-Hall was CEO of Assos, president and CEO of USA Cycling and the director of International at Wiggle.

Planet Fitness CEO Departs

Planet Fitness, Inc. said its Board of Directors transitioned to new leadership, resulting in Chris Rondeau’s departure as company CEO. Craig R. Benson, a Board member, was appointed interim CEO, effective immediately.

EXEC: Nike Confident In Profit Recovery in FY24

At its annual meeting, Nike officials expressed confidence that profitability would bounce back in the coming fiscal year ended May 2024 after markdowns to clear excessive inventories led to a profit shortfall in the prior fiscal year. Execs were also bullish on the brand’s innovation pipeline, structural tailwinds behind the athletics space and its evolving marketplace strategy.