SGB Update Sports & Fitness
USTA Names Managing Director, Strategy And Innovation
The U.S. Tennis Association (USTA) hired Liz McSorley in the newly-created position of managing director, Strategy and Innovation. McSorley, will work from Orlando, FL, reporting to Craig Morris, USTA’s chief executive, Community Tennis.
Golftec Opens Location In Winston-Salem
Golftec opened a new 2,950-square-foot instruction and club fitting center in Winston-Salem, NC.
SidelineSwap Secures Investment From eBay
SidelineSwap, the online marketplace for new and used sporting goods, announced a strategic investment from eBay Ventures, the corporate venture arm of eBay, Inc., and follows an investment in November 2022 from DSG Ventures, the corporate venture arm of Dick’s Sporting Goods.
Xponential Fitness Raises FY Guidance On Improving Q1
Xponential Fitness, Inc. showed a loss in the first quarter that ended March 31 but saw revenue jump 40 percent and raised its outlook for the year.
Fox Factory Powered Vehicles Group Offsets Sharp Drop In Q1 Specialty Sports Group Sales
Fox Factory Holding Corp. reported that sales for the first quarter of fiscal 2023 were $399.9 million, an increase of 5.8 percent. The increase reflects a 35.0 percent increase in Powered Vehicles Group sales and a 30.0 percent decrease in Specialty Sports Group sales.
Fox Factory Holding Corp. Hires First Chief Accounting Officer
Fox Factory Holding Corp. hired Brendan Enick as its first chief accounting officer. He has over 16 years of experience in the accounting industry.
NSGA’s 2023 Participation Report Sees 7 Of 10 Segments Showing Growth
Analysis of the National Sporting Goods Association’s (NSGA) Sports Participation in the U.S. report revealed that seven segments increased in participation in 2022, two segments remained relatively flat and one segment decreased compared to 2021.
Delta Apparel Logs Loss On Mass Channel Destocking
Delta Apparel reported a loss in the fiscal second quarter ended April 1 as elevated inventory levels at the mass channel continue to impact its Delta Direct business. Sales declined 16.2 percent as a gain of over 16 percent at its Salt Life brand was offset by a 20.8 percent drop at its Delta Group segment.
Sports Research Appoints Apple, Nike Vet As Marketing VP
Health and wellness company Sports Research hired Robbie LaBelle as vice president of marketing. He is the first to assume the role in the company’s 43-year history.
Wilson Sporting Goods Opens First California Retail Location
Wilson Sporting Goods Co. unveiled its first retail store in California, located within the well-known Third Street Promenade shopping district in Santa Monica. Wilson has two stores in Chicago and three in Manhattan, including their SoHo flagship and stores on the Upper East Side and Columbus Circle.
Planet Fitness’ Q1 Sales Climb 19 Percent On Membership Growth
Planet Fitness saw sales jump 19.0 percent in the first quarter, boosted by a system-wide same-store sales increase of 9.9 percent. Earnings climbed 27.7 percent. The fitness chain saw the highest quarterly net member growth since the first quarter of 2020.
Titleist Parent Sees 13 Percent Q1 Revenue Growth
Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, reported earnings rose 15.2 percent in the first quarter ended March 31 on a 13.2 percent sales gain. The gains were led by a healthy double-digit increase in golf balls and club sales with the U.S. turning in the best regional performance. Results beat analyst expectations although Acushnet maintained its full-year guidance.
Peloton Narrows Fiscal Q3 Loss Despite Weaker Sales; Settles Dish Action
Peloton narrowed its net loss despite weaker sales in the fiscal third quarter ended March 31 as margins expanded and expenses were reduced. The company also announced a settlement agreement with Dish Network.
Revolve Group Reports Lower Q1 Profits On Tighter Margins, Lower Sales
Revolve Group, Inc. reported net sales were $279.6 million in the first quarter, a year-over-year decrease of 1 percent against a very difficult prior-year comparison. Net income was $14.2 million, or 19 cents per diluted share, for the quarter, a year-over-year decrease of 37 percent.
Gildan Activewear Posts Sales And Profit Declines In Q1 But Reconfirms Outlook
Gildan Activewear Inc. said net sales for the first quarter ended April 2 were in line with expectations at $703 million, down 9 percent, versus prior-year quarter sales.
