SGB Update Sports & Fitness
Dimension 6 Fitness Hires COO and CFO To Support Nike Strength Launch
Dimension 6 Fitness entered into a licensing partnership with Nike to launch the Nike Strength fitness equipment line and hired Kevin Siebers, a nine-year Nike veteran, as COO and CFO.
Vista Outdoor Announces CFO for Outdoor Products Business
Vista Outdoor, Inc. announced that Andy Keegan, vice president and interim chief financial officer of Vista Outdoor, was promoted to CFO of Revelyst following Vista Outdoor’s planned separation of its Outdoor Products segment into a standalone public company.
Costco’s Longtime CEO to Step Down at End of Year
Costco Wholesale Corp. said Craig Jelinek, CEO since 2012, plans to step down, effective January 1, 2024. Ron Vachris, president and COO since February 2022, will succeed Jelinek as president and CEO.
Deloitte Sees 2023 Holiday Spending Returning to Pre-Pandemic Levels
Deloitte is forecasting that holiday spending this year will surpass pre-pandemic levels for the first time. Consumers surveyed for the report plan to spend an average of $1,652 during the shopping season—a 14 percent year-over-year increase, though a modest four-year CAGR of 2.5 percent reflecting a normalization of trends.
Running USA Appoints New Executive Director
The Running USA named Jay Holder as executive director. He was VP of marketing and communications for the Atlanta Track Club for the last seven years.
’47 Makes Key Merchandising and Marketing Executive Hires
Sports fan apparel brand ’47 hired Steven Monti as VP of design and development, Ryan Cross as VP of merchandising and Brooke Thornton as VP of marketing.
Play It Again Sports Parent Posts Q3 Earnings Growth
Winmark Corp., the parent of Play It Again Sports, reported earnings improved 7.5 percent in the third quarter ended September 30, to $11.1 million, or $3.05 a share, from $10.4 million, or $2.93, a year ago.
Retail Sales Grew 3.8 Percent in September; Sporting Goods Trailing Market
The U.S. Census Bureau said overall retail sales in September were up 0.7 percent from August and up 3.8 percent year-over-year. The National Retail Federation (NRF) said the gains have moderated as consumers face continued pressures from the slowed economy.
Hybrid Apparel Appoints President, Hybrid Digital
Cypress, CA-based Hybrid Apparel hired Stephen Teglas as president of Hybrid Digital, the company’s print-on-demand apparel business.
G-Form Hires Chief Sales Officer
G-Form hired Jade Larrabee as chief sales officer at the end of October. Larrabee has held key sales roles at Fanatics, Under Armour and Nike.
Gildan to Close Salisbury Factory
Gildan Activewear plans to close its factory on Heilig Road in the Charlotte, NC, suburb of Salisbury, affecting 258 employees, according to a WARN notice first reported by the Salisbury Post.
Academy Sports to Open in Jefferson City
Academy Sports + Outdoors opened a store in Jefferson City, its eleventh location in Missouri, at 739 Stoneridge Parkway.
Topgolf Sets Opening For St. Louis-Midtown Location
Topgolf is poised to open its St. Louis-Midtown venue on October 20 at 3201 Chouteau Avenue; this will be Missouri’s second Topgolf venue in addition to Chesterfield.
Fanatics’ Debt Ratings Outlook Downgraded
S&P Global Ratings revised its debt ratings outlook on Fanatics Holdings, Inc. after the sports fan retailing giant reported meaningful margin deterioration through the first half of fiscal 2023 amid slowing consumer demand and cost pressures partly tied to strategic investments. Fanatics Commerce’s sales were approximately flat in the second quarter while Lids “experienced top line and bottom line pressures.”
Peloton Expands Into Austria
Peloton announced its expansion into Austria, its fifth market outside the U.S., through an alliance with Sport-Tiedje and Amazon.
