SGB Update Sports & Fitness
NRF Report Finds Crime Cost Retailers $112 Billion in 2022
According to the 2023 National Retail Security Survey* published by the National Retail Federation (NRF), retailers have seen a dramatic rise in theft-related financial losses, with shrink accounted for $112.1 billion in losses, up from $93.9 billion in 2021.
Costco’s Q4 Profits Climb 15 Percent
Costco Wholesale Corp. reported earnings rose 15.4 percent in its fiscal fourth quarter ended September 3 as sales gained 9.4 percent. Same-store sales in the U.S., excluding the impact of gas prices, were up 3.1 percent.
U.S. Consumer Confidence Slides to Four Month Low
The Conference Board’s Consumer Confidence Index dropped to a four-month low in September, weighed down by rising interest rates, still-high inflation and a stalemate over the federal budget in Washington.
Peloton Appoints New Product Chief as Co-Founder Moves to Advisory Role
Peloton hired Nick Caldwell as chief product officer, effective November 1, 2023. Caldwell succeeds Peloton Co-Founder, Tom Cortese, and will report to CEO Barry McCarthy, leading global product development.
Target Closing Nine Stores in Four Markets Due to Theft, Safety Concerns
Target said in a statement it is closing nine stores in four states, including one in East Harlem, NY, three in San Francisco, two in Portland, OR and two in Seattle, WA, suggesting that theft and organized retail crime have threatened the safety of its employees and customers.
Nordstrom To Open Another Rack Store in New York
The 24,000-square-foot Bay Shore store will be located on the South Shore of Long Island at the Gardiner Manor Mall with other retailers, including HomeGoods, Barnes & Noble, Michaels, and Old Navy.
USA Pickleball Announces ‘Quiet Category’ for Pickleball Products
USA Pickleball, the national governing body in the U.S., launched its Quiet Category for pickleball products, an initiative to reduce the sport’s sound output. Quiet Category recognizes pickleball products that reduce acoustic output during play without negatively impacting performance.
Acushnet Holdings Corp. Announces Senior Notes Offering
Acushnet Holdings Corp. announced that its wholly-owned subsidiary, Acushnet Company, intends to raise $350,000,000 through an offering of senior notes due 2028.
Surf Hardware International Relocates Global Headquarters
Surf Hardware International relocated its global headquarters to Australia’s Coffs Harbour and is trading under the name of Gowings Pacific Trader.
Peloton Hires SVP, Apparel & Accessories
Peloton hired Cédric Fletcher, a former Nike and Under Armour merchant, as SVP of apparel and accessories.
S&P Raises Authentic Brands Debt Ratings on Improved Performance
S&P Global Ratings raised the debt rating of Authentic Brands Group, LLC after the company outperformed its previous forecast for its sizable 2022 acquisition of Reebok and recently-closed acquisition of Boardriders, Inc. S&P said the company funded the Boardriders acquisition with less debt than previously expected due to new equity from its financial sponsors.
Dave Haggerty Elected to Another Term as ITF President
Haggerty was re-elected as president of the International Tennis Federation at the 2023 ITF Annual General Meeting in Cancun, Mexico, on September 24, receiving 73 percent of the votes. He will serve a four-year term from 2023/27.
Nike Extends Refurbished Program To Nike.com
Nike extended its Refurbished program to its website, offering discounts on refurbished sneakers. The company introduced the program at select Nike and Nike Factory Outlet stores in April 2021 to support its broader Move to Zero climate change initiative.
M&S | The Sports Edit Adds Activewear Brands To Growing Platform
Marks & Spencer’s M&S | The Sports Edit is adding Adidas, Columbia, Sweaty Betty, Regatta and Sorel to its dedicated sportswear platform on M&S.com as part of its continued push into the sportswear category.
New Balance Opens Concept Store in London
New Balance opened an experiential concept store in London’s Westfield Stratford City Mall, targeting younger consumers. The store is the company’s third globally. The first opened in Guangzhou, China, in 2022, and the second in February 2023 at 124 Newbury Street in Boston.
