TruGolf Forecasting Return to Profitability on Solid Sales Growth for 2024
Total sales are expected to grow by 8 percent to 12 percent year-over-year by the end of 2024 and EBITDA for the second half should be greater than $500,000 showing a return to profitability.
EXEC: Li Ning Posts Mid-Single-Digit Retail Sales Decline in Third Quarter
The offline channel, including retail and wholesale, posted a high-single-digit decline for the quarter, while the company’s e-commerce virtual stores business registered mid-single-digit growth for the period.
EXEC: Li Ning Forms Joint Venture to Manage Brand Outside of Mainland China
The joint venture (JV) will develop and operate the Li Ning Brand business outside of Mainland China, principally in an area that includes Hong Kong, Macau Special Administrative Region and Taiwan, on an exclusive basis.
NRF Expects 2024 Holiday Spending to Reach New Record
Consumer spending on the winter holidays is expected to reach a record $902 per person on average across gifts, food, decorations, and other seasonal items, according to the NRF’s latest consumer survey conducted by Prosper Insights & Analytics.
X-Bionic Sets Up Shop in Denver Showroom, Adds NA Leadership and Reps
Kris Kuster, the company’s President and Co-Owner, leads its North American team. An outdoor and snow sports industry veteran, Kuster formerly worked for Nitro Snowboard and Mammut Sports Group.
Troon Appoints Jimmy Dunne to Board
Over the past three decades, Dunne has advised on some of the financial industry’s largest M&A transactions. In addition to serving on Troon’s Board of Directors, Dunne is a member of the Board of Trustees at the University of Notre Dame and is a Board member of the American International Group, Inc. (AIG) and Chime Financial, Inc.
PickleRage Partners with PE Firm to Accelerate Expansion
The company signed a new deal with the private equity group GreenPeak Venture Partners to help it open 200 new pickleball clubs in the U.S. over the next two years and over 500 locations by 2029.
Peloton to Offer Bike+ Exercise Bikes at Costco and Costco.com
Following agreements to sell through Amazon and Dick’s Sporting Goods, Peloton Interactive, Inc. plans to sell its Peloton Bike+ exercise bike at a discount for a limited time at some of Costco’s U.S. stores and on the warehouse club’s website.
EXEC: UK’s Shoe Zone Plc Saw FY Profits Impacted by Weather and Shipping Costs
The UK-based discount footwear retailer said it expects earnings before taxes to decline 40.7 percent in its fiscal year ended September 28 as revenues declined slightly and container prices increased.
Pvolve Signs First Studio Deal for Greater Boston Area
The franchisee is Amanda Reiss, who has served as chief marketing officer for Saucony, Living Proof and other consumer goods.
TeamSnap Appoints New CFO and SVP Marketing
Steven Neel has been hired as chief financial officer and Scott Engelman has been added as SVP of marketing of the provider of youth sports management software.
Fabletics Expands into Mexico with Retail Partnership Deal
The company has expanded into Mexico through a partnership with Liverpool, the omnichannel retail group that has operated for over 177 years in the country.
Report: U.S. Retail Saw Deep Declines in Fashion Categories in Fiscal September
The weakness un the apparel, footwear and accessories categories may lead to some pent-up demand for the Holiday selling season after lagging the stable performance seen in other categories at retail for the 5-week period.
Lululemon to Launch Apparel Range with Fanatics and the NHL
The new Lululemon apparel range will feature 11 of the NHL’s 32 teams this season, including the New York Rangers, Boston Bruins, Toronto Maple Leafs and Vancouver Canucks, with plans to expand to all the league’s franchises next year.
Specialized Launches “Reduce, Reuse, ReSpecialized” Program
The global bike repair program aims “to get one million bikes back on the road by the end of 2025 and also offers “free tune-ups, free helmets for kids, and discounted repairs at participating retail locations worldwide.”
