SGB Update Sports & Fitness
Report: Lululemon Laying Off 150 Support Center Jobs
The job cuts come as Lululemon on June 6 reported first-quarter earnings that topped guidance but trimmed its earnings guidance for the year as proposed tariffs threaten the company’s supply chain.
Survey: Golf Getaways and Digital Engagement Key Focus for the Average U.S. Golfer
Over half of U.S. players (approximately 23 million in total) take at least one golf trip per year, with 31 percent taking two or more trips. With an average length of 3.33 days, these trips are common to either Florida and California or to overseas destinations such as Scotland, Ireland and the Iberian Peninsula.
TruGolf Holdings to Execute a 1-for-50 Reverse Stock Split
As a result of the reverse stock split, the number of shares of Class A common stock outstanding will be reduced from approximately 40.5 million shares to approximately 0.8 million shares, and the number of authorized shares of Class A common stock will remain at 650 million shares.
Stretch Zone Franchise Opens In Raleigh
Owned by parent company Xponential Fitness, the franchise location in Raleigh’s Seaboard Station neighborhood marks the 398th nationwide location for Stretch Zone.
Under Armour Prices Senior Notes
The company has priced the $400 million aggregate principal amount of its 7.250 percent senior notes due 2030. It will will use the proceeds to pay down debt due in 2026.
The Pickle Pad to Open Three Nationwide Locations
The indoor pickleball brand, based in Tallahassee, FL, plans to open three new venues in the third quarter located in Myrtle Beach, SC; St. George, UT; and Newport News, VA.
Survey: 84 Percent of U.S. Consumers Plan to Shop Amazon Prime Day in 2025
A consumer survey from RetailMeNot found that 84 percent of U.S. adults plan to participate in Prime Day this year, up from 81 percent in 2024. That number rises to 92 percent among those aged 45 to 60, while 88 percent of Millennials plan on shopping during the sales event.
Skechers’ New Secured Notes Offering Earns BB- Rating from S&P
S&P Global Ratings assigned a ‘BB-’ issue-level rating to Skechers’ proposed $2.1 billion term loan B due in 2032 and $1.8 billion of senior secured notes due in 2032 that’s supporting its acquisition by 3G Capital.
Authentic Brands Group Appoints Global Head, Marketplaces
Tim Derner, formerly of Amazon, was appointed global head of Marketplaces, effective June 2. Derner worked at Amazon for over a decade, most recently as director of Amazon Fashion and Luxury Stores.
Xponential Fitness, Inc. Appoints New Member to Board of Directors
Lily Yang has been appointed to the company’s Board of Directors effective June 16, 2025. Yang will also serve as chair of the Audit Committee. She has nearly 30 years of experience working in diverse organizations across technology, healthcare and other high-growth industries.
May Retail Sales Grow 3.0 Percent Year-Over-Year; SG Sector Grows 1.8 Percent
Total sales for the March 2025 through May 2025 period were up 4.5 percent (±0.4 percent) y/y. The March 2025 to April 2025 percent change was revised from up 0.1 percent (±0.5 percent) to down 0.1 percent (±0.2 percent).
Study Highlights Opportunities for Brands Supporting Women’s Sports
A new study by women’s sports agency Parity finds that 68 percent of U.S. sports fans trust that female athletes believe in the products they are promoting. Of the respondents, 43 percent of female sports fans and 67 percent of those who frequently watch female sports said that a brand’s partnership with a female athlete makes them more likely to make a purchase.
Decathlon Opens First Running-Dedicated Store in France
Decathlon Running, approximately 1,700 square feet, sells Decathlon’s private-label brands, including Kiprun and Kalenji, as well as Hoka, Brooks, Asics, Saucony, Mizuno, and Salomon, in Bordeaux, France.
Amazon Extends Prime Day to Four Days
Amazon’s annual Prime Day sales event is scheduled for July 8-11, expanding to four days from two days compared to last year. The first Prime Day event began in 2015 with the goal of increasing Prime membership.
NABE Survey: Economy To Slow as Inflation Expected To Persist
The June 2025 NABE Outlook presents the consensus macroeconomic forecast of a panel of 42 professional forecasters. The survey, covering the outlook for the remainder of 2025/26, was conducted from May 27 to June 2.
