SGB Update Sports & Fitness
True Fitness Recalls Showrunner II Consoles
True Fitness recalled about 600 Showrunner II Consoles, including wireless phone chargers, sold with the fitness equipment. An exposed area of the wireless charging board could come in contact with another internal wire, posing a fire hazard.
The Beachbody Company Amends Loan Agreement
The Beachbody Company, Inc. reported that it amended certain financial covenants of its $50 million term loan with Blue Torch Capital to add financial flexibility.
Escalade Sees Sequential Improvement to Q2 Business From Tough Q1 Start
Excluding the impact of the change in the company’s reporting calendar, second quarter sales declined 9.5 percent on a year-over-year basis and second quarter gross margin improved significantly compared to the first quarter.
Vista Outdoor’s Earnings Decline on 14 Percent Revenue Slide
Vista Outdoor, Inc. reported earnings declined 54 percent in the fiscal first quarter ended June 25. Sales dropped 14 percent with sales down 26 percent in the Sporting Products segment while gaining 8 percent in the Outdoor Products segment. The company said results were in line with expectations and reiterated its guidance for the year.
Gap, Inc. Appoints Board Member as President and CEO
Gap, Inc., the parent company of active lifestyle retailer Athleta, appointed Richard Dickson as company president and CEO, effective August 22, 2023. In November 2022, Gap, Inc. appointed Dickson to its Board of Directors.
WH inc. Hires New Creative Director, Two Other Key Creative Hires
WH, Inc. hired Hart Rusen as new creative director with over 20 years of industry experience, Senior Designer Ari Pal, who joins from Vail Resorts, and Production Designer Chase Kunz, who joins from Microsoft.
Foot Locker to Open First Store in Thailand
Foot Locker reported it is ready to open its first retail store in Thailand after transferring its operations in Singapore and Malaysia to MAP Active earlier this year.
Garmin Opens Firstbeat Analytics Lab
Garmin reported that it opened its Firstbeat Analytics Lab in Jyväskylä, Finland. The research and testing facility will support the development of smartwatches, cycling computers and advanced wellness products.
U.S. Consumer Confidence Jumps to Highest Level in Two Years
The Conference Board’s monthly Consumer Confidence Index hit 117 in July, rising from 110.1 the month before. The index increased for the third consecutive month, bounding even higher after a sharp upswing in June.
OrderMyGear Appoints VP of Revenue Operations
OrderMyGear promoted Adam Gainey to VP of revenue operations. The company said Gainey would play a pivotal role in developing and executing on strategies that improve client acquisition, growth and satisfaction.
Retail and Vendor Business Groups Say Court Erred in China 301 Tariff Case
The NRF, AFAA, FDRA and other business groups urge The U.S. Court of Appeals to reverse judgment and vacate List 3 and List 4A China Section 301 tariffs.
Life Fitness Hires New Chief Executive Officer
Life Fitness, the maker of commercial fitness equipment, tapped Jim Pisani as CEO effective immediately, with Paul Stoneham transitioning from a senior advisor to the company’s Board of Directors. Most recently, Pisani led the Outdoor & Recreation Business Segment for Newell Brands and was the global president of Timberland.
Academy Sports To Open Store in Fredericksburg, VA
Academy Sports and Outdoors, Inc. will open its first store in Fredericksburg, VA, in the fall of 2023; this is the retailer’s second store in Virginia. The store’s footprint is over 77,000 square feet.
LVMH to Sponsor 2024 Olympic Games in Paris
Luxury brand giant LVMH signed on as a premium partner for the Paris 2024 Olympic and Paralympic Games with its jeweler Chaumet designing the medals and fashion brands Louis Vuitton, Dior, Berluti and Sephora, as well as its Moët Hennessy wines and spirits division marketed during the games.
Paramount Headwear Rebrands to Imperial
Paramount Apparel International rebranded itself and introduced Imperial as its new corporate name. Paramount acquired the Imperial golf headwear brand in late 2012. This change reflects its commitment to the Imperial flagship brand.
