SGB Update Sports & Fitness
Moody’s Assigns B2 Rating to Varsity Brand’s New Debt Offering
Moody’s Investors Service assigned a B2 rating to Varsity Brands Holding Co., Inc.’s new senior secured first lien notes due December 2026. Varsity Brands is the parent of BSN Sports and Varsity Spirit.
Planet Fitness Sees 8.4 Percent System-Wide Comp Growth
Planet Fitness, Inc. reported net earnings jumped 45.3 percent in the third quarter ended September 30 as total revenue grew 13.6 percent and system-wide same-store sales increased by 8.4 percent.
Wattbike Appoints E-Commerce Specialist
Indoor cycling brand Wattbike hired Ahmed Khodja as the director of direct-to-consumer, a new role for the company. He joins Wattbike with a “formidable track record in e-commerce strategy, following a decade working for Fanatics.
PrimaLoft Hires Anne Cavassa as New President
PrimaLoft, Inc. hired industry veteran Anne Cavassa as president, joining CEO Mike Joyce. She assumes responsibility for day-to-day operations, and the two will collaborate to advance company growth.
Sports Basement to Open Store in Long Beach
Sports Basement is opening a location in a former Sears store in Long Beach, CA. The opening will mark the Bay Area sporting goods chain’s second location in Southern California after opening in Fountain Valley in 2022.
ISPO Partners with Joor on Long-Term Deal
The giant sports tradeshow ISPO Munich and digital wholesale ecosystem JOOR have entered into a long-term partnership that aims to enhance and extend the digital selling opportunities available to ISPO brands.
IHRSA Bolsters Advocacy Team
IHRSA, which advocates for the Health and Fitness Industry, hired Charles Regnante as government affairs manager.
Ebay opens Canal Street Wear store in NYC
The company said the streetwear industry is estimated to be worth more than $180 billion and global searches for streetwear have increased by more than 150 percent since the beginning of the year on eBay.
Leatt’s Q3 Revenues Tumble 48 Percent on Sluggish Orders
Leatt Corp., the maker of protective equipment for adventure sports and team sports, reported sales tumbled 48 percent in the third quarter due to “constrained industry-wide ordering patterns.”
OR, Surf Expo Parent Sees Strong Core Show Business in Q3; Content Weakens
Emerald Holding, Inc., the operator of Outdoor Retailer and other trade shows, reported sales grew 16.2 percent in the third quarter ended September 30 while underlying earnings improved excluding year-ago event cancellation insurance benefits. Strength in its core trade show segment offset weakness in its content business.
Unifi First-Quarter Impacted by Weak Apparel Orders
Unifi, Inc. reported sales fell 22.7 percent in the fiscal first quarter ended October 1 due to “weak demand and depressed ordering patterns” in the apparel sector. The makers of Repreve-branded recycled and synthetic yarns, based in Greensboro, NC. posted a loss in the period.
Lids Opens NBA Store in Houston
Lids, in partnership with Fanatics and the NBA, opened a second NBA-themed store in The Galleria in Houston, TX, its second flagship in the U.S. following its New York City store that opened in 2015.
Wilson to Open Store in Mall of America
Wilson Sporting Goods Co. celebrated the upcoming opening of its eighth retail store in the Mall of America last week.
October U.S. Employment Numbers Fall Short of Expectations
Many noted that the 150,000 increase in jobs and the 3.9 percent unemployment rate were in line with the pre-pandemic employment picture and some wondered if maybe, just maybe, the market was getting back to normal.
Report: Foot Traffic Data Sees Possible Boost for Sporting Goods Retail for Black Friday
Year-over-year visit gaps at Recreational & Sporting Goods chains, Electronics Stores and Department Stores widened significantly since the end of August, but more recent data looks a little more promising, with all three categories now seeing their visit gaps begin to shrink.
