PXG Opens First Location in London
PXG opened a store in London South, its first golf club-fitting location in the UK, mimicing the company’s U.S. retail and service experience.
Adidas Ekes Out Growth in Q3 on Gains in all Regions Except North America
Currency-neutral sales in North America declined 9 percent during the quarter. The region was said to be “particularly affected” by elevated inventory levels in the market. The company responded to the issue that it had significantly reduced sell-in to retailers.
Charm City Run to Relocate Two Stores in 2024
Baltimore, MD-based Charm City Run announced plans to relocate both its Timonium and Annapolis, MD stores in 2024 to nearby larger spaces.
NSGA Renames Annual Event to NSGA Leadership Conference
The National Sporting Goods Association (NSGA) renamed its annual conference from the NSGA Management Conference & Team Dealer Summit to the NSGA Leadership Conference.
Under Armour Lowers Revenue Outlook on Continued North American Weakness
Under Armour, Inc. reduced its revenue forecast for its fiscal year due to continued softness in the North American marketplace while raising its margin targets. The adjustments came as UA sales and earnings in its fiscal second quarter, which ended September 30, arrived ahead of analyst expectations.
Beachbody Q3 Revenues Drop 23 Percent
The Beachbody Company, Inc. reported sales declined 22.7 percent in the third quarter but revenue and cash used in operations ahead of the midpoint of guidance and the subscription health and wellness company indicated the company is making progress with its transformation efforts.
GoPro’s Q3 Revenues Slide 4 Percent
GoPro, Inc. reported sales in the third quarter were down 4 percent but landed in the upper range of guidance. EPS also was slightly ahead of forecasts and double-digit gains were seen in both subscribers and subscription/service revenue.
Xponential Fitness Ups Full-Year Guidance on YTD Performance
Based on the company’s performance year-to-date, Xponential reported it is increasing its full-year 2023 guidance for revenue and tightening the top-end ranges for new studio openings, system-wide sales and Adjusted EBITDA.
Clif Bar Again Sees Double-Digit Growth In Third Quarter
Mondelez International reported that Clif Bar delivered another quarter of double-digit growth and improved profitability in the third quarter ended September 30. Its other snack bar brands, Grenade and Perfect Snacks, also delivered double-digit gains.
EXEC: BRC Sees Cautious UK Consumer Spending Stalling in October
The BRC reported that total UK retail sales increased 2.5 percent in October. The number was said to be below the three-month average growth of 3.1 percent and the 12-month average growth of 4.2 percent as reported by the BRC.
Xponential Fitness Hires International President; Signs New Multi-Brand Deals
Xponential Fitness, Inc. hired Bob Kaufman as president of international to lead global expansion plans across Xponential’s fitness boutique brands. The company also reported signing multi-brand deals in new and existing international markets.
Moody’s Assigns B2 Rating to Varsity Brand’s New Debt Offering
Moody’s Investors Service assigned a B2 rating to Varsity Brands Holding Co., Inc.’s new senior secured first lien notes due December 2026. Varsity Brands is the parent of BSN Sports and Varsity Spirit.
EXEC: Investor Doubts Follow Fox Factory’s Acquisition of Marucci Sports
Fox Factory’s plans to acquire Marucci Sports, the maker of baseball bats and gloves, for $572.0 million has drawn skepticism from Wall Street analysts concerned about the timing given the company’s struggles and how the acquisition fits alongside its core suspension components businesses.
Planet Fitness Sees 8.4 Percent System-Wide Comp Growth
Planet Fitness, Inc. reported net earnings jumped 45.3 percent in the third quarter ended September 30 as total revenue grew 13.6 percent and system-wide same-store sales increased by 8.4 percent.
Wattbike Appoints E-Commerce Specialist
Indoor cycling brand Wattbike hired Ahmed Khodja as the director of direct-to-consumer, a new role for the company. He joins Wattbike with a “formidable track record in e-commerce strategy, following a decade working for Fanatics.
