Li & Fung Sells Logistics Arm To Maersk For $3.6 Billion
Li & Fung Limited entered into a transaction for shipping giant Maersk to acquire its logistics business, LF Logistics Holdings Limited (LF Logistics) and its various entities, valuing the business at $3.6 billion on an enterprise value basis.
Saris Appoints Product Manager
Saris, a maker of bike racks and bike trainers based in Madison, WI, announced the promotion of Kellen Pagel to product manager.
Salazar’s Lifetime Ban Upheld By Safesport Center
The U.S. Center for SafeSport on Wednesday upheld its permanent ban of former Nike Oregon Project coach Alberto Salazar,
Gaia Acquires Yoga International
Gaia, Inc., the subscription video-streaming service, has acquired Yoga International, a digital yoga service. The acquisition adds 4,000 hours of yoga content to Gaia’s library.
U.S. Golf Rounds Slide In November
According to Golf Datatech, U.S. rounds of golf were down 17.6 percent in November 2021 against November 2020, but still up 5.6 percent in the first 11 months of the year.
Decision On ‘Container Dwell Fee’ On Hold Until December 27
Further consideration of the “Container Dwell Fee” will be postponed until Dec. 27, the Port of Long Beach and the Port of Los Angeles announced.
Orangetheory Fitness Appoints Chief Fitness And Product Officer
Orangetheory Fitness announced that it has appointed Ryan Flaherty as chief fitness and product officer effective immediately. Flaherty was most recently the vice president of performance and activity for Nike.
F45 Teams Up With Concert Golf Partners
F45 Training Holdings, Inc. announced that it has partnered with Concert Golf Partners, a boutique owner-operator of upscale private golf and country clubs nationwide, to open and operate F45 studios in Concert clubs.
Slinger Sees Sales Reaching Up To $18 Million In Fiscal 2022
Slinger reported revenue of $5.4 million in the second quarter ended October 31 versus $2.6 million a year ago. The Baltimore-based parent of Slinger Bag predicted sales would reach $17 million to $18 million in its current fiscal year.
SFIA Trends In Team Sports Report Reveals 2020 Organized Participation Down
The Sports & Fitness Industry Association (SFIA) released its 2021 U.S. Trends in Team Sports Report that shows the total number of Americans participating in a team sport dropped by 3.8 million players in 2020.
Imperial Headwear Sold To Private-Equity Firm
Paramount Apparel International, the parent of Imperial Headwear, has been sold to CPC LLC, a Kansas City, MO-based family office investment firm.
Port Of Los Angeles Headed To Record Cargo Year
The Port of Los Angeles is on track to break a new record for cargo throughput in 2021, processing more volume than any port in the Western Hemisphere. With two weeks left in the year, the Port said it anticipates its final volume will be approximately 10.7 million Twenty-Foot Equivalent Units (TEUs), about 13 percent more than its previous record set in 2018.
Nike’s Q2 Exceeds Wall Street Targets
Nike Inc. reported earnings for the second quarter ended November 30 rose 7 percent and easily topped Wall Street’s consensus target. Sales inched up one percent, led by Nike Brand Digital growth of 11 percent, while gross margins improved 280 basis points.
Schwinn Tone Electric Scooters Recalled
About 11,340 Schwinn Tone Electric Scooters (e-scooters) are being recalled.
Copper Fit Partners With Gwyneth Paltrow
Activewear brand Copper Fit announced a new partnership with CEO and Founder of Goop and Academy Award Winning Actress Gwyneth Paltrow. She becomes Copper Fit’s first female brand ambassador.
