Strava Nets $2.2 Billion Valuation in Funding Round
The funding follows the acquisitions earlier this year of AI-driven training apps Runna and The Breakaway, as well as the continued growth of the platform, which now has over 150 million reported global users.
CNBC/NRF Retail Monitor Notes Robust Sporting Goods Sector Continued into May
Growth in the Clothing, Footwear and Accessories store sector decelerated from the April trend. The category that includes Sporting Goods stores was up 8.2 percent y/y unadjusted in May after a robust 9.2 percent y/y gain in March.
PlayMetrics Merges with Stack Sports
Michael Doernberg, CEO of PlayMetrics, will lead the combined organization as CEO, and Jeff Young, CEO of Stack Sports, will transition to a strategic role as advisor to the board of directors.
Roots Sees Sales Climb 6 Percent in Q1
The Toronto-based retailer slightly narrowed its loss in the first quarter ended May 3 as sales grew 6.7 percent, marking the third consecutive quarter of growth. Founded in 1973, the retailer is known for its apparel, leather goods, footwear, and home furnishings.
Topgolf to Open in Panama City Beach
The venue, the first for Topgolf on Florida’s Emerald Coast in Panama City Beach, will open on June 27, the company’s 10th in the state.
Peloton Appoints Chief Marketing Officer; Creates Chief Technology Officer Role
Megan Imbres, formerly at Apple, becomes Chief Marketing Officer. The company has also created a chief technology officer role with a focus on AI, promoting Francis Shanahan, its SVP of Connected Fitness Software, to the position.
Dick’s SG Joins Top 50 Most Patriotic Brands for First Time; New Balance Falls in Rankings
Nike, Wilson Sporting Goods, LL Bean, Gatorade, New Balance, Converse, and Dick’s Sporting Goods all earned spots on Brand Keys 24th Annual Most Patriotic Brands survey of the Top 50 U.S.-based brands that embody the value “patriotism.” The NFL, NBA and MLB also made the list. Dick’s made the list for the first time.
Indoor Malls Lead Overall Mall Foot Traffic Growth in May; Consumer Median Income Dips
The rise in mall visits for a second month in a row suggests that April’s positive year-over-year visit trends were more than a temporary pull-forward of consumer demand in response to tariff uncertainty.
EXEC: Academy’s Chief Merchant Talks Jordan Launch, Nike Brand Success, Tariff Disruption
Following the retailer’s first-quarter results report, Academy’s EVP and Chief Merchant Matt McCabe added more highlights from the business, including the promise to introduce the Jordan brand, a strong response to expanding Nike product and market share gains among higher-income households.
GymGuyz Franchise to Open in Atlanta
Specializing in in-home mobile personal training, the franchise is now serving the Southwest Atlanta area through local husband-and-wife team Joel and Erin Castro. The Atlanta location will host a grand opening on July 17.
Club Champion Sets Opening for Fourth Colorado Location
The roughly 2,350 square foot space in Johnstown, CO is expected to open in early July. The studio will be the custom golf club fitter’s fourth in the state.
Franklin Sports C45° Paddle Series, Engineered for Precision, Power and Control
The C45° Series offers high-torque Dynasty 14mm and ultra-controlled Tempo 16mm, tuned swing weights, and distributed force, allowing players to customize the series to achieve the perfect balance of feel and speed.
K-Swiss Appoints Anwar Carrots as Creative Director of New Premium Line
K-Swiss appointed Anwar Carrots, the creative director and founder of the Los Angeles-based streetwear brand Carrots by Anwar Carrots, as creative director of K-Swiss Racquet Club (KSRC), its new premium line.
EXEC: Trump Announces U.S. and China Have Reached Trade Deal With 55 percent Tariff
President Donald Trump declared the trade war with China “done” Wednesday, while Commerce Secretary Howard Lutnick said tariffs on Chinese goods will be locked in at the current 55 percent rate without additional increases.
NABGM Board Elects New Board Director and Association President
The National Association of Black Golf Merchandisers (NABGM) Board of Directors has elected Rodney Littles, CEO, Rodney Littles and Associates, to the Board. Arnett Gill, a Board director, was elected as president of the association.
