SGB Update Sports & Fitness
Merrell and Saucony Post Above-Plan Q3 Sales; Parent Lifts FY Guidance
Wolverine World Wide, Inc. raised its revenue and earnings guidance for the year after sales in the third quarter, which exceeded company expectations, driven by above-plan performances from Merrell and Saucony. Gross margins expanded 450 basis points on significantly lower inventory levels.
Planet Fitness Increases 2024 Revenue and Adjusted EBITDA Outlook
The company’s third-quarter total revenue increased 5.3 percent to $292.2 million from $277.6 million in the prior-year Q3 period, including system-wide same-club sales growth of 4.3 percent.
Vista Outdoor’s Q2 Sales Slide 1.6 Percent as Ammo Growth Offsets Outdoor Declines
Vista Outdoor Inc. reported sales declined 1.6 percent in the fiscal second quarter ended September 30 as sales declined 3.9 percent at its Revelyst outdoor products segment and inched up 0.5 percent at Kinetic Group. Results were in line with expectations with Revelyst exceeding plan. Vista’s board again unanimously recommended shareholders vote for a deal to sell Kinetic Group with Czechoslovak Group (CSG).
Wattbike Appoints Commercial Sales Director
Sam Theyers has over 25 years of experience working with Life Fitness, Fitness First, Ezdihar Sports, and LA Fitness and reportedly brings a deep understanding of the fitness category and a wealth of international connections.
Kizik Appoints Nike Veteran as Design Chief
Andreas Harlow, a 22-year Nike veteran, joins the hands-free footwear brand after serving as VP/global footwear creative director for Jordan Brand for the last three years.
Planet Fitness Makes Last-Minute Bid for Blink Fitness
After losing out last week in a bankruptcy auction to U.K.-based fitness chain PureGym, Planet Fitness is seeking to make a bid for Blink Fitness.
Vulcabras’ Q3 Sales Expand 7 Percent
Brazil’s Vulcabras reported sales increased 7.3 percent to R$784.6 million ($135 mm) in the third quarter with growth seen at its owned Olympikus brand as well as licensed Mizuno and Under Armour athletic footwear brands.
HanesBrands Closing Champion Distribution Center, Affecting 75 Jobs
According to a report filed with The N.C. Department of Commerce, the plant closure will result in the layoff of 75 workers. Some employees will lose their jobs around December 31. Others will stay on until around January 31.
NRF Study Sees Sharp Increase in Cost to Consumers with Tariff Increase
The National Retail Federation is suggests in its latest study that U.S. consumers could lose between $46 billion and $78 billion in spending power each year if new tariffs on imports to the United States are implemented.
Alo Yoga to Open New Store in São Paulo, Brazil
Alo Yoga’s first South American location at JK Iguatemi, the gateway for luxury brands, will enter the market in the first quarter of 2025.
ICSC Sets 2025 Transition Plan for Chief Operating Officer Role
International Council of Shopping Centers, is reporting that Whitney Livingston will join the trade association as chief operating officer in March 2025, succeeding Valerie Richardson, who plans to retire at the end of 2025.
Primo Water to Merge with Bluetriton Brands
The closing is expected on or about Friday, November 8, 2024. The combined company name was declared Primo Brands Corporation, trading on the NYSE as “PRMB” on November 11.
1440 Foods Acquires Fitcrunch, CEO Assumes Same Role at 1440
Founded in 2012 by Bakery Barn and celebrity chef Robert Irvine, Fitcrunch manufactures high-protein snacks catering to consumers with active lifestyles. Fitcrunch CEO Patrick Cornacchiulo will become the CEO of 1440.
PXG Launches Apparel Pop-Up in Scottsdale Fashion Square
While PXG has three standalone retail stores in the Greater Phoenix metro area and operates 25 stores in the U.S., this is the company’s first apparel and accessories-only shop.
ColdVentures Taps Former Camelbak Exec as Strategic Advisor
Joss Warburton most recently served as VP of product and innovation at CamelBak. Previously, he played key roles in PepsiCo’s sports and nutrition portfolio, which includes the pioneering hydration brand Gatorade.
