SGB Update Sports & Fitness
Study: Luxury Retailers Brace for Rise in Losses to Theft and Security Issues
A new global research survey asked luxury retailer senior executives with a total annual turnover of $3.1 billion across the U.S., South America, Europe, Africa, and Asia revealed that 62 percent expected a rise in losses to theft over the next three years.
TruFit Athletic Clubs Opens Second TN Location
TruFit said it is solidifying its presence in the Tennessee fitness industry with the opening of a Madison, TN location and will introduce two additional locations—a third in Donelson and the fourth in Murfreesboro—this year.
InHome Golf Studio and Simulators Opens Showroom in Miami
InHome Golf Studio and Simulators opened a showroom in Miami, FL. The company also has showrooms in Lyndhurst, NJ, where it is based, and Mississauga, Ontario, Canada.
Asics North America Delivers Seventh Straight Quarter of Double-Digit Online Growth
Asics North America reported positive growth in the second quarter was boosted by double-digit growth in Sportstyle and Core Performance Sports categories across the region and marked by the region’s seventh consecutive quarter of double-digit e-commerce growth.
Rally House Announces Multiple College Town Store Openings
Rally House plans to open a store in Lexington, KY this summer and stores in Merrillville, IN and College Station, TX this fall.
Planet Fitness Upgrades Two Locations
Planet Fitness reported it renovated its Reisterstown in Maryland, which originally opened in November 2011, and Planet Fitness Columbia in Tennessee, which originally opened in April 2013.
Dick’s SG Closes Store in Binghamton
Dick’s Sporting Goods closed its store in Vestal, NY, while opening a House of Sport in nearby Johnson City.
NRF Economist Sees Consumer Spending Growth Slowing
U.S. consumers are still buying more than last year, but spending growth has slowed as the economy settles down amid higher interest rates intended to reduce inflation, National Retail Federation Chief Economist Jack Kleinhenz said Thursday.
Certor Sports, Parent to Schutt, Tucci and Vicis, Names CEO
Certor Sports named Jeremy Erspamer its CEO, overseeing Certor Sports’ portfolio, including Schutt, Tucci and Vicis.
SportChek’s Sales Flattish in Second Quarter
Canadian Tire Corporation, Ltd. reported SportChek’s comparable sales were up 0.1 percent in the second quarter ended July 1. Team sports and lifestyle footwear grew, while athletic clothing and outerwear were down. Canadian Tire’s overall comps were up 0.1 percent.
Leatt Corp. Q2 Hurt by Body Armour Decline Offsetting Continued Helmet Growth
The company said 2023 continues to be challenging for the entire MOTO and MTB industry due largely to post-Covid stocking and sell-through dynamics. DTC sales grew as a percent in the quarter.
Hanesbrands Sees Champion Brand’s Continued Slide in Q2 Offset Gains Elsewhere
On a constant-currency basis, net sales decreased 4 percent, with growth in U.S. Innerwear and Champion in Asia more than offset by a decline in U.S. Activewear and the continued macro-driven slowdown in consumer spending impacting Australia.
Wolverine World Wide, Inc. Cuts 2023 Outlook After Disappointing Q2 Results
Revenue for Q2 declined 17.3 percent in constant-currency terms to $589.1 million, compared to $713.6 million in the year-ago quarter. Revenue from the ongoing business was $578.2 million, declining 13.8 percent on a constant-currency basis.
Wolverine Worldwide Appoints New CEO as Brendan Hoffman Departs
The Board of Directors appointed Chris Hufnagel as president and CEO of the company and a member of the Board of Directors, effective immediately. He succeeds Brendan L. Hoffman, who is no longer with the company
ThredUp Inc. Narrows Q2 Loss on Revenue Increase, RaaS Ramp-Up
The company reported 1.7 million Active Buyers and Orders of 1.8 million in the second quarter, representing a decrease of 0.8 percent and an increase of 5 percent, respectively, year-over-year.
