Peloton’s Quarterly Loss Tops $1.2 Billion As Bike, Treadmill Sales Tumble
Peloton Interactive reported worse-than-feared fourth-quarter results as costs of its restructuring efforts surged while issuing a downbeat outlook for the first quarter.
SFIA Study: Fitness Industry Remains In Flux
The Sports & Fitness Industry Association’s (SFIA) new study, 2022 Tracking the Fitness Movement Report, found that while demand for at-home fitness products diminished from pandemic-driven high watermarks, the business remains strong and reflects a positive long-term outlook. The institutional fitness business, equipment sales and health clubs, which suffered during the pandemic, rebounded in 2021 but, for the most part, is not yet back at 2019 levels.
QVC Parent Announces CFO Transition And Creation Of Chief Transformation Officer Role
Qurate Retail Group, the parent of QVC and HSN, announced a transition of its chief financial officer and the promotion of William Hunter to chief transformation officer.
Callaway Golf Company To Change Name To Topgolf Callaway Brands Corp.
Callaway Golf Company announced plans to change its corporate name to Topgolf Callaway Brands Corp. The change follows the company’s merger with Topgolf in 2021.
Peloton Launches Products, Apparel And Accessories In Amazon’s U.S. Stores
Peloton Interactive, Inc. announced that the Peloton Bike, Guide, select accessories, and apparel are selling through Amazon’s U.S. stores, with Bike delivery available to most of the U.S. The arrangement marks Peloton’s first wholesale partner. Until now, Peloton relied on its website and physical showrooms.
361 Degrees Posts 17.6 Percent Growth In Six Months
361 Degrees International Ltd. reported an uptick in profits in the first half as sales grew 17.6 percent to RMB 3,653.8 million ($532 mm). Apparel led the gains.
Anta Sports Sees 13 Percent Growth In Six Months
Hong Kong-based Anta Sports Products Limited reported a slight decline in profits in the six months ended June 30 as lower gross margins offset a 13.8 percent climb in sales. Amer Sports showed a 23.2 percent sales gain.
Peak Ski Company Hires Senior Director Of Skiing And Product Innovation
Peak Ski Company, based in Bozeman, MT, hired Chris Davenport as senior director of skiing and product innovation. Earlier this year, Co-Founders Bode Miller and Andy Wirth launched the company and its 2022/23 performance lineup of Peak by Bode Miller alpine skis.
Urban Outfitters Q2 Finds Growth At Anthropologie and Free People
Urban Outfitters, Inc. reported modest growth in the second quarter as high-single-digit growth at Free People Group and Anthropologie Group offset a decline at the Urban Outfitters chain.
Nordstrom Slashes EPS Outlook As Traffic Slows
Nordstrom, Inc. significantly reduced its EPS guidance for the year due to a decline in customer traffic beginning in late June, mainly at Nordstrom Rack, and expectations that promotions would be required to clear elevated inventories in the second half.
Caleres Sees Second-Quarter Sales Climb 9.3 Percent
Caleres saw sales expand 9.3 percent in the second quarter that ended July 30 as a 35.6 percent increase in its Brand Portfolio segment offset a 3.8 percent decline at Famous Footwear. Caleres reiterated its guidance for the year.
Ballogy Strikes Partnership With National High School Basketball Coaches Association
Ballogy, Inc., the skills assessment and development app and exposure platform for youth and amateur basketball players, has formed an exclusive partnership with the National High School Basketball Coaches Association (NHSBCA).
Stewart Surfboards Adds New Licensee And Distributor For Europe
California-based Stewart Surfboards retained Sample N Co., the French-based distribution company, as a licensee and distributor for Europe. Sample N Co. has been licensing, distributing and selling surf and outdoor brands in Europe for the past ten years.
Michael Vick Launches Digital Collectibles Platform
Michael Vick, the former NFL quarterback, has co-founded FanField, a sports tech company launching an NFT platform this fall.
Tiger Woods, Rory McIlroy And Mike McCarley Form TMRW Sports
Tiger Woods, Rory McIlroy, and veteran sports industry executive Mike McCarley founded TMRW (Tomorrow) Sports, a technology-focused startup that feature progressive approaches to sports, media, and entertainment. Dick Ebersol is an initial investor.
