SGB Update Sports & Fitness
Escalade’s Q3 Profits Jump on Improved Margins
Escalade ,Inc. reported third-quarter profits climbed 43.3 percent in the third quarter as strong improvement in gross margins. Sales were down 2.1 percent as healthy demand for basketball and pickleball offset weakness in other categories. Excluding the benefit of a calendar change, sales declined 11.6 percent.
Johnnie-O Names 25-Year Patagonia Exec as CEO
Johnnie-O named John Collins as CEO and Board member, succeeding Dave Gatto, who, the company reported, has “played an instrumental role in Johnnie-O’s journey as CEO and Board director since January 2015.” The company also shared that Gatto would retire this year after a “remarkable career, including the nearly nine years he spent building the Johnnie-O brand and positioning it for future expansion.”
Rally House to Open Store In Kansas City
Rally House Barrywoods Crossing is minutes from the KCI Airport in North Kansas City, making it an “ideal destination for K.C. fans and travelers entering the city.”
Stahls’ Acquires Apparel Order Fulfillment Software Company
Stahls’ acquired Fulfill Engine, a software technology company specializing in decorated apparel order fulfillment, supply chain management and e-commerce store integration.
Adidas Confirms Partnership to Outfit Texas Tech
Adidas will replace Under Armour as the uniform supplier for Texas Tech for the 2024 season. Under Armour’s partnership with the University began in 2006.
On Brand to Open Second London Store
On will open its second store in the UK in East London’s Spitalfields Market on November 3. On opened a flagship on Regent Street in February.
Life Time’s Q3 Profits Surge On 18 Percent Revenue Gain
Profits at the high-end fitness club chain rose 43.1 percent on an adjusted basis in the third quarter on a 17.9 percent revenue gain. Sales were at the low end of guidance but earnings topped expectations.
Pure Hockey Set to Open Second Ohio Location
Pure Hockey reported plans to open two stores in Ohio in late October—one in Mayfield Heights and the other in Columbus.
Report: September Golf Rounds Show Uptick
Golf Datatech reported that U.S. golf rounds played were up 1.6 percent year-over-year in September and increased 3.8 percent year-to-date, according to the research firm’s latest National Rounds Played Report for September 2023.
Puma’s Q3 Profits Drop On Currency Effects; Confirms Annual Guidance
Puma’s earnings fell 9.6 percent due to currency headwinds, weakness in North America and higher expenses. However, higher-than-expected revenues due to momentum in Europe, a recovery in China as well as stronger-than-expected margins led the German-based company to reiterate its guidance for the year.
Tennis Warehouse Acquires Swetka’s Tennis Shop
Tennis Warehouse, the tennis retailer based in Luis Obispo, CA, reported that it recently acquired Swetka’s Tennis Shop in Mountain View, CA, a fixture in the Bay Area tennis community for over 50 years.
Vista Outdoor Removed from S&P CreditWatch After Ammo Business Sale
S&P Global Ratings removed the debt ratings of Vista Outdoor, Inc. from CreditWatch with negative implications following the company’s announcement that it planned to sell its sporting products business to Czechoslovak Group A.S for $1.91 billion on a cash-free, debt-free basis.
Continental Tire Names QBP Preferred N.A. Distributor; Implements MAP
Continental Tire named Quality Bicycle Products its preferred distributor in the U.S. and Canada, making its products more accessible to more retailers.
Fleet Feet Rings the Bell on Wooster, OH Store Grand Opening
Fleet Feet, the largest franchisor of specialty run stores, officially announced its Wooster, OH store, which opened in late July, will host a grand opening.
Academy Sports Names Sam Johnson President as Mullican Departs
The retailer announced that Michael Mullican is stepping down as president to pursue personal and professional opportunities. Sam Johnson, EVP of retail operations, is his successor, effective immediately.
