SGB Update Sports & Fitness

Intersport France Set To Acquire Go Sport Out Of Receivership

The Grenoble Commercial Court in France has ruled that Intersport France will acquire French retailer Go Sport in partnership with Qatari firm Al-Mana. The Court’s unanimous opinion supported an Intersport/Al-Mana bid valued at €35 million.

Investors Sue Adidas Over Yeezy Partnership With Ye

Adidas is facing a class-action lawsuit filed by investors who claim the company knew about the risks of its partnership with Ye, formerly known as Kanye West, years before it terminated its relationship with the rapper over his antisemitic comments.

Nike Signs Lifetime Contract With Kevin Durant

It was reported that Phoenix Suns star forward Kevin Durant signed a lifetime contract with Nike, the third basketball player to sign the same deal behind Michael Jordan and LeBron James.

Skechers Q1 Tops Guidance On DTC Momentum

Skechers U.S.A., Inc. reported earnings rose 32.3 percent in the first quarter ended March 31 on a 10.0 percent sales gain. Strong double-digit DTC growth globally due to improved inventory availability offset wholesale declines in the Americas region. Guidance was raised as quarterly earnings and sales easily surpassed expectations. 

The Rossignol Group Posts 28 Percent Growth For 2022/23 Financial Year

The Rossignol Group, parent of the Rossignol, Dynastar, Lange, Look, and Kerma brands, reported that revenue increased 28 percent to €401 million for the 12-month financial year period ended March 31, 2023, compared to €313 million in revenue for the prior year.

REI To Open Store On Tribal Land In Arizona

REI Co-op will open a store in Prescott, AZ in Fall 2023, leased from the Yavapai-Prescott Indian Tribe and located on tribal land at Frontier Village Center.

Fabletics Expands Resale Program

Fabletics and its sister brand Yitty, expanded its resale program with ThredUp giving consumers a vehicle to resell gently worn clothing for a Fabletics shopping credit.

Gazelle Sports Opens Seventh Store

Gazelle Sports, based in Grand Rapids, MI, opened its seventh store in Grandville, MI. The 2,300-square-foot store is located at 4499 Ivanrest Avenue, SW.