SGB Update Sports & Fitness

Nike Promotes Tony Bignell to Chief Innovation Officer
Nike has confirmed reports that Tony Bignell, VP of men’s sport performance footwear, has been promoted to chief innovation officer. He replaces John Hoke who plans to retire in October.

Adidas Gets Debt Upgrade by S&P on Improving Performance
S&P Global Ratings raised its debt ratings on Adidas due to the brand’s stronger-than-expected deleveraging trend, mainly driven by the group’s sustained momentum in its underlying operating performance and cash flow generation improvements versus previous forecasts.

GoPro, Inc. Adds Two Members to Board of Directors
GoPro, Inc. appointed Mike Dennison, CEO of Fox Factory Holding Corp. and Emily Culp, chief brand and strategy officer of BodyHealth, to its Board of Directors.

Life Time Group Shareholders to Sell 20 Million LTH Shares in Secondary Offering
The operator of athletic country clubs across the U.S. and Canada said shareholders sold 20 million shares of stock in a secondary offering, raising $590 million for selling shareholders. Lifetime did not receive any proceeds from the sale.

KKR-Backed Bay Club Acquires 425 Fitness
The operator of three fitness clubs in the greater Seattle area (Bothell, Redmond and Issaquah), deepens its presence in the Pacific Northwest. The addition also gives Bay Club 27 fitness clubs across California.

Costco May Comps Grow 6.0 Percent x-Gas; E-Commerce Up 12 Percent
Excluding gas, Costco’s same-store sales in the U.S. were up 5.5 percent in the U.S. and 6.0 percent overall. E-commerce sales advanced 12 percent.

Adidas to Pay Fine for Safety Violations at New York Warehouse
In the settlement with the U.S. Department of Labor, Adidas will pay $235,000 in penalties to resolve violations stemming from missing guardrails and unsafe ladders at a warehouse in upstate New York.

Under Armour Expands Partnerships with BSN Sports and Momentec Brands
Under Armour raised its commitment to the team uniform category in announcing the expansion of its partnership with BSN Sports and extension of its partnership with Momentec Brands.

Ahead Appoints Manager of Strategic Accounts
The headwear maker appointed Matt Ussery as manager of strategic account with responsibilities for managing top-tier clients. He most recently served as an outside sales repat Cutter & Buck, a fellow New Wave Group AB brand.

Peloton Launching Resale Market For Used Bikes, Treadmills
Peloton’s secondary marketplace, Repowered, gives customers the option to list their “pre-loved Peloton pieces” and will soon roll out an option for customers to purchase listed items directly from the site.

NSGA Names COO of Denver Athletic to Three-Year Board Term
Jessica Rose-Huggins of Denver Athletic in Englewood, CO, was appointed to the District II Board seat. Her three-year term began on June 1. She replaces Mick Montgomery, the president and CEO of Denver Athletic, who served two three-year terms on the Board.

UK Survey Explores Barriers to Broader Golf Participation
Nearly nine out of ten Brits who reside in the U.K. (87 percent) believe golf is exclusively played by those over 40, according to new research by England Golf that challenges long-held stereotypes about the sport.

Hudl Completes Acquisition of Titan Sports
Combining the company’s video analysis with Titan’s GPS player tracking will “empower coaches and athletes with objective training and performance insight, including knowing how fast players run, how hard they worked and when and athlete might be pushing too hard and risking injury.”

Academy Sports + Outdoors Expanding with Three New Locations
The retailer has opened two new locations in Fort Walton Beach, Florida. and Midlothian, Virginia; and will open another new store in Morgantown, West Virginia later this month.

USTA CEO Lew Sherr to Step Down
Lew Sherr is stepping down as CEO, effective June 30, to pursue a new professional opportunity outside of the tennis industry. USTA Board Chairman Brian Vahaly and Chief Operating Officer and Chief Legal Officer Andrea Hirsch will serve as interim Co-CEOs while the organization searches for its next leader.