SGB Update

Li Ning Hires Group VP And CFO

Li Ning Company, Ltd. has hired of Zhao Dong Sheng as group vice president and chief financial officer.

Gaia’s Q2 Revenues Improve 7 Percent

Gaia, Inc.’s results for the second quarter ended June 30 marked its eighth consecutive quarter of positive earnings and EBITDA, with Q2 EBITDA margins over 20 percent.

Clarus Bangs Out 57 Percent Q2 Revenue Gain

Clarus Corp. reported profits jumped 105 percent for the second quarter ended June 30. Sales grew 57 percent, boosted by the acquisitions of Rhino-Rack and Maxtrax as well as 22 percent organic sales growth. Sales of the Outdoor segment, led by Black Diamond, increased 17 percent. The company maintained its full-year guidance.

3STEP Sports Acquires Wildfire Volleyball Academy

3STEP Sports acquired Wildfire Volleyball Academy for its volleyball division. Founded in 2004 by Ore Pablos, Wildfire Volleyball Academy has 14 national and 13 state teams and more than 300 girls in its training program.

Camping World To End NASCAR Support

Camping World is ending its longtime NASCAR Truck Series sponsorship after this season after holding the role of title sponsor for more than a decade.

JD Sports Sells Footasylum To Germany’s Aurelius

JD Sports sold Footasylum to German private equity firm Aurelius Group for an enterprise value of about £37.5 million ($38 million), less than the £86 million pounds ($102.9 million) price it paid for the chain in 2019.

Nordstrom Announces Senior Merchandising Promotion

Nordstrom, Inc. promoted Sam Lobban to executive vice president and general merchandise manager for women’s and men’s apparel and all designer categories supporting product strategy and vision.

Compass Diversified Terminates Agreement To Sell Advanced Circuits

Compass Diversified (CODI) announced that its majority-owned subsidiary, Advanced Circuits, terminated its previously announced agreement and plan of merger, dated October 13, 2021, pursuant to which Advanced Circuits was to be sold to Tempo Automation, Inc.

Inflation Expected To Impact Back-To-School Spending

Numerator’s 2022 Back-To-School Survey of nearly 2,400 households found that 89 percent of respondents expect inflation to impact their back-to-school spending and increase cost-saving measures, including buying items on sale, reusing old supplie, and switching to cheaper brands.

Under Armour To Pay $67 Million To Settle UCLA Lawsuit

Under Armour has agreed to pay UCLA nearly $67.5 million to settle the school’s lawsuit with the company, according to a report in the Los Angeles Times. UCLA was seeking over $200 million in damages in its original lawsuit filed in August 2020 over Under Armour’s terminated UCLA contract.