SGB Update Sports & Fitness
The International Council of Shopping Centers (ICSC) reported that its Post-Thanksgiving Weekend survey showed more than half of consumers (56 percent) said they shopped just as much or more than in the past, an increase of 6 percentage points from 2022.
Bandier, the women’s activewear brand, is seeking a buyer for substantially all of its assets, including inventory and intellectual property, as part of a “General Assignment for the Benefit of Creditors” to avoid a formal bankruptcy filing.
UK-based Frasers Group plc, said it intends to work with the appointed preliminary insolvency administrator of SportScheck with a view to acquiring the SportScheck business/assets out of administration.
Castore, the U.K.-based sportswear brand, has secured a £145 million ($183.1 million) investment in a funding round led by the Raine Group, the U.S. financial advisory and investment firm.
Authentic Brands Group has entered into a long-term licensing agreement with Sakar International to design and distribute Reebok-branded basketball, pickleball, baseball, soccer, and football equipment and electronics, including audio, tech and massage products.
Moody’s Investors Service downgraded Hanesbrands, Inc.’s debt ratings to reflect the company’s significant earnings declines through 2023 and Moody’s expectation that leverage and coverage credit metrics will remain weak through the first half of 2024.
Delta Apparel, Inc., in a regulatory filing, said it expects to receive net proceeds of $23 million from the sale and long-term leaseback of its approximately 35-acre campus in Fayetteville, NC. The buyer is RH Dunn, LLC.
Footwear units sold reportedly declined 4 percent in the week ending November 25, but dollar sales declined at a softer rate of 1 percent due to a 4 percent increase in average selling prices (ASPs)., according to Circana’s point-of-sale data.
Topgolf reported it will open its Lafayette, LA venue on December 15, approximately 15 minutes from downtown Lafayette, in the Ambassador Town Center.
The Walmart Inc.’s warehouse club division plans to open two new distribution centers in early 2024 outside St. Louis and Minneapolis.
The retailer narrowed its full-year guidance to the lower end of prior expectations as third-quarter sales and earnings arrived below expectations. The retailer blamed generally soft consumer spending and warm weather’s impact on fall selling.
Costco Wholesale Corp. reported same-store sales rose 3.5 percent in November. By region, comps increased 1.8 percent in the U.S., 4.4 percent in Canada and 11.7 percent in its Other International segment.