SGB Update Sports & Fitness
Stack Athletics Acquires Vulcan Pickleball
Chaifetz Group, owners of Major League Pickleball’s St. Louis Shock franchise and a broad portfolio of other organizations in the sport, also participated in the deal and will hold an interest in the merged companies and a seat on the newly created Board of Directors.
Kohl’s Trims Q1 Loss, Same-Store Sales Slide 3.9 Percent
Kohl’s Corp. narrowed its loss in the first quarter ended May 3 as sales declined 4.1 percent. The retailer maintained its guidance for the year.
Yue Yuen Appoints Board Member
Yue Yuen appointed Chou Wei-Te, executive assistant vice president at its retail arm, Pou Chen, to its board as an executive director. He replaces Chan Lu Min, who is retiring.
VF Appoints New Chief Accounting Officer
Michael Phillips succeeds Bryan McNeill, who is retiring after 30 years with the company. Phillips has served as the VP Enterprise Financial Reporting controller of the company since September 2022.
Nike’s Design and Innovation Chief John Hoke to Retire in the Fall
John Hoke, Nike’s chief innovation officer, is retiring after serving in the role since 2023. He first worked at Nike on stores and fixtures before getting into footwear. An architect by training, he is credited with designing a NikeTown store and buildings on the Nike campus.
Costco Wholesale Misses on Q3 Top-Line as Discretionary Spending Weakens
The miss on the comparable sales line was said to be due to consumers paring back on large purchases, especially of non-essential goods such as home furnishings, as discretionary spending continues to weaken.
BRP President and CEO to Retire at Fiscal Year-End
José Boisjoli has informed the Board of Directors of his intention to retire by the end of the fiscal year, at which time he will also step down from his role as chair of the Board. He will continue to lead the company until a successor is named.
Foot Locker Starts to Move On, Cancels Q1 Analyst Call
Total comparable sales decreased 2.6 percent year-over-year with comparable sales in the North American region decreasing by 0.5 percent and Europe comps falling 10.2 percent in the first quarter.
Pvolve Adds Five New Studios in Four Key U.S. Markets
The five new studios will be in Illinois, Kansas, Connecticut, and North Carolina. The Illinois location continues to deepen the brand’s presence in Chicago and the greater metro area.
U.S. Consumer Confidence Improves in May After Five Months of Decline
May’s rebound in confidence was broad-based across all age and income groups and shared across all political affiliations, with the strongest improvements among those identifying as Republicans.
Crunch Fitness Franchisee Adds Four New Midwest Crunch Gyms
Primetime Fitness announced a significant expansion across Ohio and Michigan with the acquisition and development of four new gyms. The company, founded in 2016, operates 23 gyms across Michigan, Ohio, Kentucky, and Tennessee.
Crunch Franchisee to Open 85th Crunch Fitness in Georgia
“We’re excited to expand our footprint to 14 clubs in the Atlanta area with this gym location in Gainesville, GA,” said Tony Scrimale, CEO of CR Fitness Holdings. “This 3.0 location takes everything our members love about Crunch to the next level, with premium amenities, the latest equipment, and a fun, welcoming atmosphere that caters to everyone.”
Life Time Opens Club in Boulder’s 29th Street Mall
Life Time Boulder follows the April 2024 opening of Life Time Denver West. Other Colorado locations include Centennial, Cherry Creek, Colorado Springs, Flatirons, Parker, and Westminster.
Life Time Life Opens Phase One of Indiana Athletic Club
The member facility offers nine indoor pickleball courts, six indoor tennis courts, a viewing area with lounge seating, and a pro shop. The second and final phase of the 135,000-square-foot space is on target to open in summer 2026.
Walmart Restructures; Cuts Roughly 1,500 Corporate Jobs
The retailer is streamlining its global tech and Walmart U.S. operations, affecting approximately 1,500 employees. The U.S. retail cuts are mainly in the end-to-end operations teams and the Walmart Connect marketing organization.
