SGB Update Sports & Fitness
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.
Topgolf Sets Opening for Venue in Mobile, AL
Topgolf announced plans to open a venue in Mobile, AL, on November 17, its third in the state, in addition to Birmingham and Huntsville.
Compass Diversified Posts Flattish Q3, Sells Marucci Sports
Owner of Velocity Outdoor, BOA, Marucci, Primaloft, 5.11, and other businesses in the active lifestyle space, reported that third quarter net sales were $569.6 million, down 1 percent compared to $575.8 million in the third quarter of 2022.
Fox Factory Slashes Guidance on Impact from Auto Strike/Elevated IBD Inventories
Fox Factory Holding Corp. reported third-quarter sales came in well below guidance while significantly lowering its outlook for the year due to the impact of the United Auto Workers strike and continued inventory destocking in bike channels.
Fox Factory to Acquire Marucci Sports
Fox Factory Holding Corp has reached an agreement to acquire Marucci Sports, the maker of baseball bats and gloves, from Compass Diversified (CODI) for $572 million.
NRF Sees 3 to 4 Percent Growth in Holiday Spending
The National Retail Federation (NRF) delivered its annual holiday forecast, predicting sales during November and December will be between 3 percent and 4 percent higher over 2022, similar to pre-pandemic levels.
Gildan Activewear Sees Modest Sales Growth in Third Quarter
Gildan Activewear, Inc. reported sales grew 2 percent in the third quarter with flat sales in activewear and gains in the hosiery and underwear category. Results were in line with expectations with the sales gains following several quarters of declines. The company, however, now sees sales and earnings landing at the lower end of guidance due to macroeconomic pressures.
Peloton Narrows Fiscal Q1 Loss as Company Gets Control of Inventory and Costs
Across the bike portfolio, the blended landed cost per unit was down 17 percent year-over-year as inventory sold last year was burdened with high historical inbound logistics costs. Last mile cost per delivery was down 36 percent year-over-year.
Titleist Parent Lifts Annual Earnings Outlook on Golf Club and Ball Strength
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported net earnings rose 10.6 percent in the third quarter on a 6.3 percent revenue gain. The increases were led by double-digit growth in club sales with with a 6.3 percent increase in balls. Revenue guidance for the year was reaffirmed and earnings guidance slightly raised.
Report: Authentic and WHP Global Exploring Champion Acquisition
Hanesbrands, the parent company of Champion, has had “wide interest” from parties, including WHP Global and Authentic, in acquiring the brand since the company announced in late September that it was considering a possible sale.
Topgolf Callaway Acquires BigShots Golf
Topgolf Callaway Brands Corp. reported that the company purchased certain assets from Invited, Inc., the largest owner and operator of private golf clubs in the U.S., related to its BigShots Golf business.
Riddell Extends NFL Helmet Partnership Through 2030 Season
Riddell has inked a 7-year extension of its partnership with the National Football League and will continue to serve as the Exclusive Licensee of Collectible Helmets and an Authorized Supplier of Helmets to the NFL through the 2030 season.
Good Feet Holdings Closes on Stretch*d Acquisition
Good Feet Holdings, LLC, a holdings group of wellness brands, including The Good Feet Store and ING Source, reported that it completed its acquisition of Stretch*d.
Burn Boot Camp Promotes Burke to COO
Burn Boot Camp, based in Charlotte, NC, promoted Amber Burke to chief operating officer. She was VP of franchise operations.
