SGB Update Sports & Fitness
Academy Sports + Outdoors to Open First Indianapolis Store
The approximately 75,000-square-foot store will sell a wide assortment of sports and outdoors merchandise. The retailer will host a grand opening from August 25-27.
Macy’s Rolls Out Four New Small Format Stores Across West and Northeast
The move marks the first expansion of its small-format locations into the Northeast and Western regions of the U.S., with openings in Boston, Las Vegas and San Diego.
Dick’s SG Axes Outlook on Q2 Profit Shortfall, Blames Inventory Shrink
Dick’s Sporting Goods delivered 1.8 percent same-store growth in the second quarter but profits fell well below Wall Street targets due in large part to shrink. The retailer slashed its earnings outlook for the year on the Q2 shortfall and expected margin pressure in the second half and launched a business optimization program that reportedly includes the layoff of 250 corporate employees.
Macy’s Sees Continued Weakness in Comps; Posts Loss in Second Quarter
The retailer continues to beat Wall Street expectations as it manages through its downward trend. Consolidated comp store sales were down 8.2 percent on an owned basis and down 7.3 percent on an owned-plus-licensed basis.
Fanatics Partners with Home Shopping Network
Fanatics announced it entered a partnership agreement with the Home Shopping Network (HSN) to sell its fan apparel through HSN across all sports, styles and sizes of league and team merchandise it manufactures.
Hanesbrands’ Debt Ratings Lowered Due to High Leverage
S&P Global Ratings reduced the debt ratings on Hanesbrands, Inc. due to lower-than-expected sales and declining profitability. The rating agency also said turnaround in the Champion brand would take time as the company focuses on reducing excess inventory and repaying debt this year.
Life Time Opens Phase I of Life Time at Penn 1 Project
Life Time has opened phase one of its 54,000-square-foot destination at the redeveloped Penn 1 building, as part of the Penn District, located adjacent to Madison Square Garden in the heart of New York City.
Road Runner Sports Partners with PHIT America on Fitness Programs for Kids
Road Runner Sports will significantly expand PHIT America’s programs in U.S. schools as it becomes the Presenting Sponsor of PHIT America’s Amped running/walking fitness program.
Investment Firms Partner to Aggregate Little Gym Franchises in New Venture
Hidden River Strategic Capital and Taurus Capital Partners created Somersault Holdings, LLC. and acquired and aggregated seven franchises within The Little Gym franchise system under one management group.
B2B Surplus Inventory Marketplace Raises $30 Million Series B Round
The company reported it has had a 500 percent increase in uploaded inventory in the last year, with a gross merchandise value (GMV) run rate increasing over 10x year-over-year and the team has doubled in size.
Tractor Supply Launches Open Buying Days
Tractor Supply said the Open Buying Days are open to individuals and businesses nationwide. The event seeks to uncover unique products that align with Tractor Supply’s purpose – to help customers as they live Life Out Here.
Adidas Renews Partnership With Newcastle United
Adidas renewed its partnership with Newcastle United, the U.K. soccer club that competes in the Premier League, as its kit sponsor.
NBDA Establishes Bicycle Industry E-Bike Safety & Standards Panel
The quarterly platform is expected to serve as a central hub for experts to engage in discussions, share insights and formulate best practices, with the goal of enhancing safety and compliance across the e-bike market.
Canyon Ranch Secures $150 Million Equity Investment
Canyon Ranch, the upscale wellness club based in Fort Worth, RX, reported it secured an investment of $150 million from VICI, a New York-based real estate investment trust specializing in entertainment projects, to support expansion projects.
Rally House Opens Store in Cleveland Market
Rally House opened a retail store at the Great Lakes Mall in Mentor, OH, just east of the Cleveland metro.
