SGB Update Sports & Fitness
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.
Signa Sports’ Largest Shareholder Terminates Equity Commitment Letter
Signa Sports United N.V., which in early October announced plans to delist its shares from the NYSE, said it had received a termination notice concerning the unconditional Equity Commitment Letter from Signa Holding GmbH, an affiliate of the company’s largest shareholder Signa International Sports Holding GmbH.
SFIA Launches Super Regionals Series
The Sports & Fitness Industry Association is launching a Super Regional Series in November, offering members, partners and industry leaders the opportunity to come together to discuss business insights and topics driving today’s sporting goods and fitness environment.
New Era Appoints General Manager for North America
New Era Cap LLC has hired Steve Gallo, most recently president of the recovery footwear brand Oofos, as general manager for North America after an extensive global search.
Lululemon Athletica to Join S&P 500 Index
Lululemon Athletica will join the S&P 500 index before the stock market opens on October 18.
Asics Names New President and CEO for North America
Koichiro Kodama will return to Asics North America as president and CEO, effective immediately. He was CEO of Asics North America from February 2019 until December 2020. He replaces Richard Sullivan, president and CEO of the North American business since January 2022.
Consumer Sentiment Slides in October
The University of Michigan’s preliminary Index of Consumer Sentiment for October declined 7.5 percent from month-over-month in September to 63 from 68.1 and below the 67.4 reading that analysts had expected.
Under Armour Hires Gap Inc. Vet as Chief Supply Chain Officer
The company hired retail industry veteran Shawn Curran as chief supply chain officer, reporting to President and CEO Stephanie Linnartz. After three decades working at Gap, Inc., Curran will join Under Armour on October 16.
Decathlon to Open First Store in British Columbia
Decathlon plans to open a flagship store in spring 2024 at Metropolis at Metrotown, marking its first store in British Columbia and its 19th in Canada.
Life Time to Acquire Arden Hills Athletic & Social Club Property in Sacramento
Life Time announced plans to acquire the property of Arden Hills Athletic & Social Club in Sacramento and reopen the facility as Life Time Arden in early 2024.
Lacrosse, Flag Football, Cricket on Short List for 2028 LA Games
The organizing committee for the Los Angeles Games reported it will propose adding flag football, lacrosse, squash, and cricket to the Olympic program for 2028. The organizing committee is also aiming to bring baseball and softball back.
Dick’s SG To Open House of Sports in Miami
Dick’s Sporting Goods reported that the company submitted plans with Miami-Dade County to open a House of Sports in Miami in a space formerly occupied by a Nordstrom store in the Dadeland Mall.
Running USA’s COO Departs
Running USA’s Board of Directors announced that Christine Bowen, chief operating officer and VP for the past 14 years, stepped down from her role, effective September 30.
Har-Tru Acquires Armor Crack Repair
Har-Tru, LLC, a specialist in court construction and surfacing solutions based in Troy, VA, has acquired Armor Crack Repair, which specializes in court crack repair and maintenance.
