SGB Update

JD Sports Outlines Plan To Improve Corporate Governance

J.D. Sports Fashion posted a record annual profit but warned that earnings would remain flat in the current financial year amid inflationary pressures. The retailer also laid out plans to overhaul its corporate governance structure and internal controls after a review led to the exit of long-time boss Peter Cowgill last month.

Retail Groups Applaud Uyghur Forced Labor Prevention Act

In a joint statement, the American Apparel & Footwear Association, National Retail Federation, Retail Industry Leaders Association and The United States Fashion Industry Association applauded the implementation of the Uyghur Forced Labor Prevention Act. 

Fanatics CEO Selling Ownership Stake In Philadelphia 76ers, New Jersey Devils

Fanatics CEO Michael Rubin announced plans to sell his 10 percent stake in  Harris Blitzer Sports & Entertainment (HBSE), the parent company that owns the Philadelphia 76ers and New Jersey Devils. He cited a conflict of interest with Fanatics’ collectibles and planned sports betting operations.

KT Tape Names CEO

KT Tape announced that after a national executive search, the company’s board of directors has appointed Jessica Klodnicki as its new chief executive officer. Her past roles include stints at Skullcandy, Vista Outdoor and Mizuno.

EBay Acquires NFT Marketplace, KnownOrigin

EBay, Inc. has acquired KnownOrigin, the non-fungible token (NFT) marketplace. The company said the acquisition is an important step in its “tech-led reimagination.”

Iowa’s Uptown Sporting Goods To Close

Uptown Sporting Goods in Carroll, IA is closing later this summer as its owners plan to retire, according to a report from Carroll Times Herald.

F45 Launches Corporate Partnership Program

F45 Training Holdings, Inc. announced the formal launch of its corporate partnership program. Through this program, companies can open an F45 studio inside their offices to offer F45 classes to their employees.