SGB Update

Mustang Survival President Resigns

Jason Leggatt, president of Mustang Survival and Andrew Branagh, the CEO of The Wing Group, announced that Leggatt had resigned from his position. He will remain with the company as a member of its Board.

Sports Basement Opens Twelfth Store

Sports Basement reported it opened its newest store in Fountain Valley CA in the former Fry building. Sports Basement has eleven other locations in Northern California. The new store is the retailer’s first in Southern California.

Nike Ends Endorsement Deal With Kyrie Irving

Nike ended its endorsement deal with Brooklyn Nets star Kyrie Irving. The move comes a month after Irving shared a link on Twitter to a film containing antisemitic material.

Steve Rendle Retires As VF Corp.’s CEO

VF Corp. reported Chairman, President and CEO Steve Rendle is retiring. Benno Dorer, a lead independent director of the VF Board, was named interim president and CEO, effective immediately. VF also again lowered its revenue and earnings expectations for the second half of its fiscal year.

Zwift Names Amazon Executive As Co-CEO

Zwift hired Amazon executive Kurt Beidler as co-CEO, sharing the role with founder Eric Min. Min has been CEO since Zwift was founded in 2014.

Everlane Secures $25 Million Loan

Everlane Inc. secured a $25 million term loan from Gordon Brothers. The loan is secured by Everlane’s working capital assets.

Athleta Opens Fourth Store In New York City

Athleta, a Gap, Inc. brand, opened its fourth store in Manhattan’s SoHo neighborhood. The 5,000-square-foot space at 594 Broadway is the brand’s 35th new store opening in 2022.