SGB Update Sports & Fitness
Newton Golf’s Q1 Loss Expands on Growth Investments
Newton Golf Company, Inc. reported revenue in the first quarter totaled $1.0 million, down 18 percent from $1.2 million in the prior-year quarter due to temporarily reduced manufacturing capacity and delayed order fulfillment associated with operational initiatives implemented during the quarter to support future growth opportunities.
Nobull Hires Chief Marketing Officer and Chief Commercial Officer
Allison Giorgio was most recently chief marketing officer at Wellness Pet Company. Prior to that, she spent more than 17 years at Puma. Joe Martin comes to the company from Fossil Group, where he served most recently as chief commercial officer. Prior to that he spent more than 10 years at Adidas.
NRF: Retail Sales Climb In April Despite Inflation Pressures
Retail sales rose slightly for the seventh consecutive month in April despite rising gas prices and stubborn inflation, according to the CNBC/NRF Retail Monitor. Sales were up 5.73 percent unadjusted year over year in April, including growth of 8.55 percent in the sporting goods, hobby, music and book stores channel category.
Rally House Acquires Penn State’s Lion & Cub Store & Nittany Outlet
Lion & Cub, a Penn State retail store located in downtown State College, Pennsylvania, along with its online business, Nittany Outlet, has served Penn State fans since 1975 and will continue operations as Rally House State College.
Club Champion Opens Fitting Studio in Boston
Club Champion announced the grand opening of its newest studio in Boston, located at 125 High Street in the city’s Financial District.
Fanatics Commerce Appoints Chief Marketing Officer
Fanatics Commerce appointed Jamie Gersch, formerly at Rothy’s and Old Navy, as chief marketing officer, effective immediately.
Beachbody Sees Further Profit Improvement on Marketing Model Transition
The El Segundo, CA-based fitness and nutrition company saw sales slump 25 percent in the first quarter due to a shift from a multi-level marketing (MLM) structure to a single-level affiliate model, but saw profitability improve and top guidance for the third straight quarter.
Selkirk Sport Acquires Bread & Butter Pickleball Company
With the inclusion of Bread & Butter, Selkirk “expands its portfolio with a differentiated brand that speaks to a distinct consumer segment.” The acquisition is also said to enhance both companies’ platform of services as they scale internationally.
Saucony Hires Nike Vet as Chief Marketing Officer
Saucony appointed Wendy Kula, most recently Nike’s VP of women’s brand marketing, North America, as chief marketing officer.
FDRA: Footwear Inflation Accelerates Further in April
U.S. Retail footwear prices rose 4.2 percent year over year (YoY) in April, accelerating from a spike of 2.4 percent seen in March, according to the latest data from the Footwear Distributors and Retailers of America (FDRA).
EXEC: Former Chairman of Asics Appointed Honorary President of WFSGI
Asics Corp. announced that its former chairman of the board, Motoi Oyama, has been appointed honorary president of the World Federation of the Sporting Goods Industry (WFSGI).
Under Armour Shares Fall on Fiscal Q4 Earnings Miss and Weak Outlook
Revenue was down for the quarter as the declines in the North America region more than offset International growth, but the number exceeded analysts’ estimates. The company posted an Adjusted loss per share of 3 cents for the fourth quarter, missing the analyst estimate for a loss of 2 cents per share.
Quebec’s Printeez to Open U.S. Headquarters in Florida
Printeez, a Quebec-based print-on-demand and embroidery company, has leased a 34,020-square-foot industrial facility in Lakewood Ranch, FL, to serve as its U.S. headquarters and American production facility.
NE Pennsylvania’s Harry’s Sporting Goods to Close
Harry’s Sporting Goods, which has been situated on West Front Street in Berwick, PA since 1891, is closing due to fallout from the pandemic and recent challenges securing product from Nike and other key vendors.
Costco’s April Comps Climb 11.6 Percent, Digital-Enabled Sales Gain 18.8 Percent
Costco Wholesale Corp. reported sales of $23.92 billion for the month of April, up 13.0 percent from $21.18 billion last year. For the first 35 weeks, sales were $197.18 billion, an increase of 9.5 percent.
