Equinox’s Debt Ratings Lowered
S&P Global Ratings downgraded the debt ratings of Equinox Holdings, Inc. after the New York-based fitness club operator closed on an amendment to its first-lien credit agreement.
Compass Diversified Posts Q4 Loss Despite Mid-Single-Digit Growth
Compass Diversified (CODI), which owns Velocity Outdoor, BOA, Marucci, Primaloft, 5.11 and others in the active lifestyle space, reported net sales in the fourth quarter of 2022 were $594.9 million, up 6 percent (+4 percent on a pro forma basis).
Play It Again Sports Parent Sees Slight Q4 Earnings Decline
Winmark Corporation, the parent of Play It Again Sports, reported net income declined slightly in the fourth quarter and year.
Peloton Names Chief People Officer
Peloton hired Dalana Brand as chief people officer, effective March 13, reporting to CEO Barry McCarthy, based in New York City. She will also lead the company’s global people team.
Titleist, Footjoy Parent Swings To Q4 EBITDA Profit On Double-Digit U.S. Growth
Acushnet Holdings Corp., parent company of the Titleist and Footjoy brands, reported that consolidated net sales for Q4 increased 6.4 percent, or 14.3 percent on a constant-currency basis. Adjusted EBITDA was $25.4 million, compared to a loss of $5.0 million in the prior-year quarter.
Puma Posts Record Results, Provides Subdued Outlook For 2023
Puma reported record sales and earnings before interest and taxes in 2022 but warned that profits would likely fall as high-interest rates and inflation weigh on consumer spending.
BSN Sports, Under Armour Partner With Ohio’s Lima Central Catholic High School
BSN Sports and Under Armour entered into a partnership agreement with the Lima Central Catholic High School in Lima, OH, to provide uniforms and apparel through its co-sponsored Women of Will program.
Big 5 SG Sees Q4 Same-Store Sales Fall 13 Percent; Margins And Earnings Shrink
Big 5 Sporting Goods Corporation reiterated its fiscal 2022 fourth quarter net sales were $238.3 million, compared to net sales of $273.4 million for the fourth quarter of fiscal 2021. Same-store sales decreased 13.2 percent for the fourth quarter of fiscal 2022 compared to the fourth quarter of fiscal 2021.
Mitchell & Ness Appoints Creative Director
Don Crawley (Don C), the high-end streetwear designer, was named creative director of premium products for Mitchell & Ness, which was acquired last year by Fanatics.
P.volve Makes Three Executive Appointments
P.volve hired Karina Kogan as a strategic advisor, promoted Antonietta Vicario to chief training officer and hired Katie Rosholt as senior vice president of marketing.
Target Ekes Out Fiscal Q4 Comp Sales Gain On Strong Traffic; Beats Expectations
Target Corporation reported that total comparable sales grew 0.7 percent in the fiscal fourth quarter ended January 28, reflecting comparable stores sales growth of 1.9 percent and a comparable digital sales decline of 3.6 percent.
USGA Elects New President To Three-Year Term
Fred Perpall of Dallas, TX, was elected as the 67th president of the USGA at the association’s Annual Meeting in Napa, CA.
Tiger, TaylorMade Backed PopStroke Opening First Arizona Location
PopStroke Entertainment Group, owned by Greg Bartoli, Tiger Woods’ TGR Ventures and TaylorMade Golf Company, will open PopStroke’s Glendale, AZ, venue on March 2. This is the seventh PopStroke location.
Xponential Fitness Appoints Chief Legal Officer
Xponential Fitness, Inc. hired Andrew Hagopian as chief legal officer, effective March 1, 2023.
Retail Giant Pou Sheng Sees Sharp 2022 Profit Decline On Pandemic Woes
Pou Sheng International (Holdings) Limited warned that it expects to record a 20 percent decline in revenues to approximately RMB18.6 billion for the year ended December 31. The resulting profit is attributable to owners of the Chinese mega-retailer and is forecasted to fall approximately 75 percent to approximately RMB89 million for the year compared to the 2021 financial year.
