SGB Update Sports & Fitness
Running USA Appoints New Executive Director
The Running USA named Jay Holder as executive director. He was VP of marketing and communications for the Atlanta Track Club for the last seven years.
’47 Makes Key Merchandising and Marketing Executive Hires
Sports fan apparel brand ’47 hired Steven Monti as VP of design and development, Ryan Cross as VP of merchandising and Brooke Thornton as VP of marketing.
Play It Again Sports Parent Posts Q3 Earnings Growth
Winmark Corp., the parent of Play It Again Sports, reported earnings improved 7.5 percent in the third quarter ended September 30, to $11.1 million, or $3.05 a share, from $10.4 million, or $2.93, a year ago.
Retail Sales Grew 3.8 Percent in September; Sporting Goods Trailing Market
The U.S. Census Bureau said overall retail sales in September were up 0.7 percent from August and up 3.8 percent year-over-year. The National Retail Federation (NRF) said the gains have moderated as consumers face continued pressures from the slowed economy.
Hybrid Apparel Appoints President, Hybrid Digital
Cypress, CA-based Hybrid Apparel hired Stephen Teglas as president of Hybrid Digital, the company’s print-on-demand apparel business.
G-Form Hires Chief Sales Officer
G-Form hired Jade Larrabee as chief sales officer at the end of October. Larrabee has held key sales roles at Fanatics, Under Armour and Nike.
Gildan to Close Salisbury Factory
Gildan Activewear plans to close its factory on Heilig Road in the Charlotte, NC, suburb of Salisbury, affecting 258 employees, according to a WARN notice first reported by the Salisbury Post.
Academy Sports to Open in Jefferson City
Academy Sports + Outdoors opened a store in Jefferson City, its eleventh location in Missouri, at 739 Stoneridge Parkway.
Topgolf Sets Opening For St. Louis-Midtown Location
Topgolf is poised to open its St. Louis-Midtown venue on October 20 at 3201 Chouteau Avenue; this will be Missouri’s second Topgolf venue in addition to Chesterfield.
Fanatics’ Debt Ratings Outlook Downgraded
S&P Global Ratings revised its debt ratings outlook on Fanatics Holdings, Inc. after the sports fan retailing giant reported meaningful margin deterioration through the first half of fiscal 2023 amid slowing consumer demand and cost pressures partly tied to strategic investments. Fanatics Commerce’s sales were approximately flat in the second quarter while Lids “experienced top line and bottom line pressures.”
Peloton Expands Into Austria
Peloton announced its expansion into Austria, its fifth market outside the U.S., through an alliance with Sport-Tiedje and Amazon.
Signa Sports’ Largest Shareholder Terminates Equity Commitment Letter
Signa Sports United N.V., which in early October announced plans to delist its shares from the NYSE, said it had received a termination notice concerning the unconditional Equity Commitment Letter from Signa Holding GmbH, an affiliate of the company’s largest shareholder Signa International Sports Holding GmbH.
SFIA Launches Super Regionals Series
The Sports & Fitness Industry Association is launching a Super Regional Series in November, offering members, partners and industry leaders the opportunity to come together to discuss business insights and topics driving today’s sporting goods and fitness environment.
New Era Appoints General Manager for North America
New Era Cap LLC has hired Steve Gallo, most recently president of the recovery footwear brand Oofos, as general manager for North America after an extensive global search.
Lululemon Athletica to Join S&P 500 Index
Lululemon Athletica will join the S&P 500 index before the stock market opens on October 18.
