SGB Update Sports & Fitness
Report: U.S. Footwear Sales Slip In Q1 But Performance Footwear Gains
U.S. footwear industry sales revenue was down 3 percent in the first quarter year-over-year to $9.0 billion, according to point-of-sale data published by Circana, formerly The NPD Group. Gains in the performance footwear category, led by basketball, were offset by declines in the leisure and fashion categories.
Xponential Fitness Signs Master Franchise Agreement In Japan For StretchLab
Xponential Fitness, Inc. reported signing a Master Franchise Agreement in Japan for StretchLab that allows Xponential Fitness to license at least 40 StretchLab studios in Japan to franchisees over the next ten years.
JD Sports Appoints Two New Board Directors
JD Sports Fashion Plc, the parent company of JD, Finish Line, DTLR, and Shoe Palace, appointed Angela Luger and Darren Shapland as non-executive directors, effective June 1. Lauger joins JD Sports Remuneration Committee and Shapland its Audit and Risk Committee also effective June 1.
Life Time Holdings Swings To Q1 Profit As Revenues Surge 30 Percent
Life Time Group Holdings, Inc. reported first quarter revenue increased 30.2 percent to $510.9 million. The company said the increase was due to strong growth in membership dues and in-center revenues, which included the continued ramp of our centers and higher member utilization of our in-center offerings.
Dick’s SG Completes Redemption Of Convertible Notes
Dick’s Sporting Goods, Inc. said in a regulatory filing it completed the conversion and redemption of its outstanding 3.25 convertible senior notes due 2025 and expected to reduce its annual interest payments by approximately $1.9 million.
Academy Sports + Outdoors To Open First Store In Peoria, IL
Academy Sports and Outdoors, Inc. reported it will open its first location in Peoria, IL, this summer; this is the second location in Illinois, set to open in Grand Prairie Plaza. The floor space covers over 60,000 square feet.
Gymshark’s Fiscal 2022 Profits Slide On Higher Costs
Gymshark, the UK-based activewear brand, reported pre-tax profits fell 39 percent in its fiscal year ended July 31, 2022 as higher costs offset a 21 percent gain in sales, led by robust U.S. growth.
Lululemon Promotes Two To EVP Positions
Lululemon promoted two members of its senior leadership team to EVP positions. Susan Gelinas was named chief people and culture officer, and Shannon Higginson was appointed chief legal and compliance officer.
Evnroll Putters To Merge With Uneekor
Creatz, Inc., the parent company to South Korean golf technology company Uneekor, acquired a majority stake in the Carlsbad, CA-based putter brand Evnroll.
Original Penguin Golf Partners To Expand In Asia Pacific Region
Perry Ellis International and Walkinshaw Sports agreed to a strategic partnership to distribute Original Penguin golf and tennis apparel to the Australian and New Zealand wholesale and retail markets.
New Study Shows Economic Viability For Professional Women’s Sport In Canada
Canadian Women & Sport, in partnership with Boston Consulting Group and the Canadian Tire Corporation, parent company to SportChek and Helly Hansen, released new research outlining the growing investment opportunity for Canada’s professional women’s sports market.
EoS Fitness Opens Newest Arizona Location
EoS Fitness opened an Arizona location a 40,000-square-foot space at Queen Creek gym. The gym is the company’s first location to open at Queen Creek and its 28th location in the state.
Coca-Cola’s Sports Drinks Revenues Slip In First Quarter
The Coca-Cola Company reported sales of its sports drinks segment declined 1 percent in the first quarter, primarily driven by declines in Bodyarmor and Powerade in the U.S.
Beyond Yoga Opens Third Store In Los Angeles
Beyond Yoga opened its third store in Westfield Century City in Los Angeles following the opening of venues in Santa Monica and Irvine, CA, respectively, last fall. Beyond Yoga has another Los Angeles location set to open on May 12 in the Larchmont Village.
Canadian Sports Investment Group Looks To Drive Growth For Cricket In Canada
Cricket Canada and WEIC Sports United, formerly Teams Canada, formed a strategic alliance, Boundaries North, to grow the sport of Cricket in Canada.
