SGB Update Sports & Fitness
Signa Sports’ Fiscal Q2 Revenues Slide 24 Percent
Signa Sports United N.V. (SSU) reported a wider operating loss in the fiscal second quarter ended March 31 as sales dropped 23.5 percent. The Berlin-based owner of numerous e-commerce sites focused on tennis, outdoor, and team sports said the results reflect continued weak demand versus pre-pandemic levels and “severely elevated” inventories across the marketplace.
Fanatics Bests DraftKings In Bid For PointsBet’s U.S. Operations
Sports-betting company DraftKings, Inc. is no longer pursuing the acquisition of the U.S. business of PointsBet Holdings, Ltd. The move comes after Fanatics upped its bid for the Australia-based PointsBet’s U.S. business.
TRX Acquires Australian Fitness Equipment Company
TRX announced it acquired YBell, an Australian fitness equipment company, and said the strategic acquisition enhances its patented product offering and training solutions.
Golf Rounds Played Surge In May
Rounds of golf played in May jumped by 10.0 percent on a national level year-over-year and are now running up 5.5 percent for the first five months of 2023, according to Golf Datatech.
SportsShoes.com’s Q1 Sales Climb 20 Percent
U.K.-based SportsShoes.com reported revenues increased 20 percent in the first quarter ended May 31 to £83.8 million ($107 mm).
Report: Asics Cutting Ties with Smaller U.K. Specialty Retailers
Independent sports retailers in the U.K. are reportedly reeling from a move Asics Corp. is making to narrow its distribution in the region. In a recent article published by The Guardian, Asics was said to be “cutting off supply to hundreds of small U.K. outlets…”
Gaia Announces Addition And Changes To Executive Team
Yoga-streaming company Gaia, Inc. hired James Colquhoun as chief operating officer and promoted Kiersten Medvedich to president. Ned Preston was hired as chief financial officer, replacing Paul Tarell, who resigned to pursue other interests.
Mike Ashley Returns To Frasers Group As Consultant
Mike Ashley has reportedly returned to his founding company Frasers Group, the parent of Sports Direct, as a consultant. Ashley, who owns 69 percent of the company, stepped down from the top position last year, later appointing his son-in-law Michael Murray as CEO.
LaserTek Solutions Named Master Distributor For Stahls’
Stahls’ announced LaserTek Solutions as a new Master Distributor for Cad-Cut HTV and Hotronix heat presses.
U.S. Supreme Court Won’t Hear Nike, Adidas Patent Dispute
The U.S. Supreme Court on Monday sidestepped Nike, Inc.’s appeal in a long-running sneaker design dispute with Adidas AG, declining to consider whether a tribunal can nix a patent based on grounds not raised by the parties. The justices passed over Nike’s claims that the Patent Trial and Appeal Board wrongly stripped it of a patent covering shoelace holes in knitted sneakers.
Topgolf To Open In St. Petersburg
Topgolf will open its St. Petersburg, FL venue on June 30, marking its 90th location and its eighth venue in Florida.
Youth Athletes United Adds 60 New Locations In Half
Youth Athletes United, a youth sports program operator, added 60 units and 44 owners to its network of brands, including Soccer Stars, Amazing Athletes and TGA Sports. The organization also reported a 24.7 percent growth rate since the beginning of 2023.
Nike To Open Flagship Store In Edmonton
Nike plans to open a flagship store West Edmonton Mall in Edmonton, which will become Canada’s largest store.
Report: Lululemon Struggles To Find Buyer For Mirror
Lululemon Athletica, Inc. cannot find a buyer for its Mirror connected fitness platform despite reducing the price by nearly 90 percent.
Skechers U.S.A. Named To Fortune 500 List For First Time
Skechers U.S.A., Inc. made the Fortune 500 list for the first time following record annual sales of $7.4 billion in 2022. Skechers is one of only four brands in the apparel industry sector to make the list, debuting at number 488.
