SGB Update Sports & Fitness
IHRSA, SFIA, Pro Leagues Commend Bipartisan PHIT Act Legislation
IHRSA and SFIA issued statements commending the newly introduced bipartisan legislation to allow flexible spending and health savings accounts (HSA) for physical activity products, services and youth sports.
Rally House To Open Three Stores In Arkansas
While Rally House has a strong presence in the Midwest, the company reported this week it enter a new market in Arkansas.
Beachbody Narrows Q4 Loss By Two-Thirds Despite Strong Double-Digit Sales Decline
The Beachbody Company, Inc., which re-branded as Bodi in March, reported total fourth-quarter revenue decreased 31 percent to $148.2 million for the period ended December 31, compared to the prior year period.
Rocky Mountain Acquires BikeAction GmbH
Rocky Mountain acquired BikeAction GmbH a bike distributor headquartered in Germany. The acquisition, built on a 30-plus-year partnership, vertically integrates the Canadian manufacturer into the European market and supports riders in BikeAction’s Northern European region.
Signa Sports Opens North America Bike Office In Park City
Signa Sports United’s North American Bike Division, which makes the Nukeproof and Vitus bikes, opened a corporate office in Park City, UT.
Giant Bicycles Sees Inventory Affecting Short-Term Results After Solid 2022
Giant Group reported that 2022 consolidated revenues increased 12.5 percent to NT$92.04 billion. Due to the impact of rising material and labor costs as well as an increase in the OEM business, the overall group’s gross margin and operating profit performance were negatively affected.
Castore Sponsors First National Soccer Team
Castore, the UK sportswear brand, signed a multi-year agreement to replace Umbro as the official kit supplier and retail partner of Ireland’s national soccer teams. The six-year deal runs until 2028 and is Castore’s first with a national soccer team.
Puma Opens Running Testing Facility
Puma opened the Puma Nitro Lab, an athlete testing facility developed in partnership with Hartmann Orthopedics & Sports. Based at Hartmann’s facility near Frankfurt, Germany, the lab provides athletes with detailed, full-body insights using tests and scans, including 4D Motion analysis.
Women’s Tennis Association Secures $150M Investment
The Women’s Tennis Association announced that CVC Capital Partners, the global private equity firm, had become a commercial partner after making a $150 million investment that gave CVC a 20 percent stake in a new commercial subsidiary named WTA Ventures.
Beachbody Changes Name To BODi; Hires Vice President
The Beachbody Company, Inc. changed its name from Beachbody to BODi, reflecting the digital platform’s recently founded Health Esteem category. Petra Kolber was hired as vice president of Personal Development and Mindset
Johnson Fitness & Wellness To Open 17 Stores In Texas
Johnson Fitness & Wellness, the retail division of Taiwan-based Johnson Health Tech, reported it would open 17 stores in major metro markets in Texas and a commercial sales and service division.
Report: U.S. Retail Sales Climb 6.9 Percent In February
According to Mastercard SpendingPulse, U.S. retail sales excluding automotive were up 6.9 percent year-over-year (YOY) in February.
NRF Opposes Corporate Tax Rate Increase In Biden Admin Budget
The National Retail Federation has issued the following statement from SVP of Government Relations David French in response to President Biden’s proposed budget for fiscal year 2024.
Yue Yuen Factory Revenue Declines Moderate In February; China Retail Worsens
Yue Yuen Industrial (Holdings) Limited net consolidated operating revenue for February 2023 came in at $603.8 million, representing a 6.9 percent decline versus the year-ago February period.
Peloton, IFit Face U.S. Import Ban Over Streaming Technology
The U.S. International Trade Commission (ITC) banned imports of video streaming fitness devices made by Peloton Interactive, Inc. (PTON.O) and iFit, Inc after a judge ruled the company’s infringed on Dish Network Corp. (DISH.O) patents.
