SGB Update Sports & Fitness
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.
Edel Golf Under New Ownership
Edel Golf, the golf equipment manufacturer based in Denver, CO, was acquired by Doug Coors, a former executive at CoorsTek, a technical ceramics maker.
Life Time Group Closes On Second Sale-Leaseback Deal
Life Time Group Holdings, Inc. reported it closed on a sale-leaseback transaction for approximately $45 million in gross proceeds on April 20.
Li Ning Sees Franchise Stores And E-Commerce Drag On Q1 Retail Business Growth
Li Ning Company Limited reported retail sell-through at Li-Ning stores for the first quarter that ended March 31, excluding Li-Ning Young, increased in the mid-single-digits on a year-over-year basis.
JCPenney Appoints Chief Customer Officer
JCPenney hired Katie Mullen as chief customer officer. Mullen previously was JCPenney’s chief digital officer and will continue overseeing e-commerce strategy and omnichannel development driving digital, data and analytics.
Club Champion Adds Three Locations
Club Champion opened two new locations in Kingwood and Midland, Texas, respectively, and one in Farragut, TN. Club Champion reported it is “primed to open over 125 domestic and international locations by the end of the year.”
Norrøna Acquires Canvas Hotel Telemark
Norrøna reported it acquired the Canvas Hotel Telemark, a wilderness lodge, including luxury yurts, for mountain bikers, with over 100 kilometers of slick rock trails connected by singletrack.
