North American Bike Distributor HLC Acquired By Private Equity
MiddleGround Capital, the investment specialist and buyer of middle market B2B industrial and specialty distribution companies, purchased North American bike parts and accessories distributor HLC. The terms were not disclosed.
Seirus Hires VP Of Sales
Seirus hired Desiree Lindemann as vice president of sales.
JD Sports’ Ousted Chairman Returns As Consultant
JD Sports reached an agreement with its former longstanding Executive Chairman, Peter Cowgill, that has him return to the compay as a consultant.
Play It Again Sports Enters Resale Partnership With Rawlings And Easton
Winmark Corporporation’s Play It Again Sports retail chain entered into a partnership with Rawlings Sporting Goods, Inc., the baseball and softball gear makers, and Easton bats, as the Official Resale Partner of Rawlings and Easton.
UEFA And Fanatics Sign Long-Term Licensing, E-Commerce And Event Retail Deal
UEFA (Union of European Football Associations) and Fanatics announced a long-term e-commerce, event retail and licensing deal.
Nike Appoints Board Members
Nike, Inc. announced that Mónica Gil and Bob Swan were elected to the company’s Board of Directors. Gil is chief administrative and marketing officer of NBCUniversal Telemundo Enterprises. Swan is an operating partner at Andreessen Horowitz and former CEO of Intel Corporation.
Report: High School Sports Participation Declines Over After Pandemic
In its first high school sports participation survey in three years, the National Federation of State High School Associations (NFHS) reported a total of 7,618,054 participants in high school sports for 2021/22, down four percent from its 2018/19 figure of 7,937,491. However, NFHS noted that participation is “on the road back” after schools could not offer programs in typical fashion during portions of the 2019/20 and 2020/21 school years in the U.S. due to the pandemic.
Outdoor Participation Grows To Record Levels
According to Outdoor Foundation’s 2022 Outdoor Participation Trends Report more than half (54 percent) of Americans ages six and over participated in at least one outdoor activity in 2021, and the outdoor recreation participant base grew 2.2 percent during 2021 to 164.2 million participants. However, this growing number of outdoor enthusiasts did not fundamentally alter long-term declines in high frequency or “core” outdoor participation.
KMD Brands Sees 6.2 Percent Growth In Fiscal Year
KMD Brands, Ltd. reported sales grew 6.2 percent in the year ended July 31. The gains were driven by continued growth in Rip Curl sales, Kathmandu’s highest sales in Q4 and record order demand for Oboz product.
REI To Open First Store In Nebraska
REI Co-op will open its first retail location in Gretna, NE, on September 23.
Gap To Undergo Layoffs
Gap, Inc. will eliminate about 500 corporate jobs, sources told the Wall Street Journal. The Gap has been looking to reduce costs during declining sales and profits.
The North Face Makes Executive Appointments
The North Face hired Sophie Bambuck as chief marketing officer and Jennifer Ingraffea as chief product and merchandising officer.
Winchester Parent Lowers Third-Quarter Guidance
Olin Corporation, Winchester’s parent company, said it now expects third-quarter 2022 adjusted EBITDA to be in the range of $530 million to $550 million, down from an estimated $620 million due to the weakening global economy.
Nordstrom Adopts ‘Poison Pill’ After Mexican Retailer Buys Stake
Nordstrom, Inc. adopted a shareholder rights plan, more commonly known as a “poison pill,” to prevent outsiders from boosting their stake in the business after a Mexican company acquired a 9.9 percent stake in the upscale U.S. retailer’s business.
Brunt Workwear Hires Industry Veterans
Brunt Workwear hired industry veterans from Patagonia, Harley Davidson, Mizzen+Main, Under Armour, and The RealReal to support its management team.
