SGB Update

Nautilus Completes Refinancing Of Existing Term Loan

Nautilus Inc. announced the amendment of its existing credit facility by refinancing the previous term loan with a new $30 million term loan, thereby increasing the company’s total credit facility to $130 million.

Fanatics-Owned NFT Venture Undergoes Layoffs

Candy Digital, the sports and entertainment NFT startup backed by Fanatics, reported it laid off more than one-third of its workforce of approximately 100 employees, according to Sportico.

Tern Makes Executive Hires

Taiwanese electric bike company Tern hired Matthew Davis as chief operating officer, Joe Hei as head of strategy and product management, and Venus Ang as director of finance.

Gatorade Marketing VP Joins Vital Proteins

Vital Proteins named Jill Abbott, a former marketing VP at Gatorade, as chief marketing officer. Abbott is responsible for the global marketing and brand strategy as the company looks to expand into new international markets. 

Rossignol Group Releases Growth Plan

Targeting both significant revenue growth and category leadership in sustainable ski and outdoor products, the Rossignol Group unveiled a new strategic plan — called Ascension 2026 — that commits to investing $50 million between now and 2026 to achieve its goals.

Equinox’s Probability Of Default Ratings Lowered

Moody’s Investors Service affirmed Equinox Holdings, Inc.’s debt ratings, but downgraded the fitness chain’s Probability of Default Rating (PDR) from Caa3-PD to Ca-PD. The outlook remains negative.

Golf Equipment Declines But Apparel Expands In October

Golf equipment sales were off 5.9 percent in October and down 2.2 percent year-to-date, according to Golf Datatech. Golf apparel sales were up over 8 percent on the month and 6 percent on a year-to-date basis.

NICS Background Checks Soar On Black Friday

NICS FBI background checks showed strong firearms demand on Thanksgiving week, culminating in 192,749 checks on Black Friday, a 2.8 percent increase from last year and the third-highest total, according to NSSF.

Foot Locker Makes Leadership Changes

Foot Locker, Inc. named Frank Bracken EVP and chief commercial officer and hired Elliott Rodgers as chief operations officer as part of a corporate move to support growth and enhance operational efficiency. The sneaker chain also announced the planned transition of its chief financial officer.