SGB Update Sports & Fitness
Massage Envy Names Chief Development Officer
Massage Envy hired Erich Melsheimer as chief development officer. He was Planet Fitness’ vice president of global real estate.
Adidas Retracts Opposition To BLM Trademark Application
Adidas AG, on Wednesday, reversed course 48 hours after asking the U.S. Trademark Office to reject a Black Lives Matter application for a trademark featuring three parallel stripes, according to Reuters.
Compass Diversified Re-Works Board As Sally McCoy Plans Departure
Compass Diversified (CODI), owner of Velocity Outdoor, BOA, Marucci, Primaloft, 5.11, and other businesses in the active lifestyle space, announced that its Board of Directors had nominated a new director candidate for election at its 2023 Annual Meeting of Shareholders on May 25.
Lululemon’s Q4 Profits Drop On Mirror Impairment Charge
Lululemon Athletica Inc. reported a sharp decline in earnings for the fourth quarter due to an impairment charge of $442.7 million related to its Mirror connected-fitness business. Earnings on an adjusted basis grew 31 percent as comparable-store sales jumped 27 percent, topping analyst targets.
The Pro’s Closet Rebrands As TPC
The Pro’s Closet, the certified pre-owned bike dealer, rebranded as TPC.
K-Swiss To Sponsor Pickleball Slam
K-Swiss reported it signed on as a sponsor of the 2023 inaugural Pickleball Slam on April 2 at the Hard Rock Live at the Seminole Hard Rock Hotel & Casino in Hollywood, FL.
Varsity Brands To Pay $43.5M In Antitrust Settlement
Varsity Brands has agreed to pay $43.5 million to settle a federal lawsuit that the student apparel company and producer of cheerleading events abused its industry dominance, causing private gyms and spectators to pay artificially inflated prices.
Drive Shack Announces $26.5 Million Term Loan Facility
Drive Shack, Inc. announced today that it had obtained a $26.5 million senior secured term loan facility to fund the construction of its Puttery venues currently in development.
Rally House To Open Another Pittsburgh Store
Rally House has become a pillar of the Pittsburgh sports community in recent years. The retailer reported it intends to open a new store in the Monroeville area. Rally House Miracle.
Titleist Parent CFO To Resign
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported that Thomas Pacheco, its EVP, CFO and chief accounting officer, intends to resign, effective August 15, 2023, to pursue other interests.
Jordan Brand World Location To Open In Tokyo
Jordan World of Flight Shibuya is opening as the first Jordan-only store in Japan this March. The 9200-square-foot space follows the opening of Jordan World of Flight Milan in December 2022.
Vuori To Open Second Boston Store
Vuori is opening a storefront this summer at the Derby Street Shops in Hingham, MA, marking the second brand store in the Boston area and its debut on the South Shore.
Time Bicycles To Open U.S. Manufacturing Plant In Upstate SC
French carbon fiber bike manufacturer Time Bicycles may have to change one of its core tag lines, “Designed and Made in Europe,” after reporting it will open a new manufacturing facility in Spartanburg, SC.
USA Swimming Extends Speedo Partnership Deal Through 2024
USA Swimming reported it extended its partnership with Speedo through December 31, 2024.
Walmart Laying Off Thousands Of Warehouse Employees
Walmart is laying off hundreds of employees at its e-commerce fulfillment centers nationwide. The company said it made the cuts “to better prepare for the future needs of customers.”
