SGB Update Sports & Fitness
Life Time’s Debt Outlook Upgraded on Proposed Loan
Moody’s Ratings changed its debt rating outlook on Life Time to positive from stable as the fitness club operator continues to reduce leverage through earnings growth and debt repayment. The change largely reflects Life Time’s proposed $1 billion senior secured first lien term loan due 2031.
NRF Sees 2024 Holiday Selling Season Growth Lowest Since 2018
“Household finances are in good shape and an impetus for strong spending heading into the holiday season, though households will spend more cautiously.” – NRF Chief Economist Jack Kleinhenz.
Ironman Hires EVP of Global Partnerships
The Ironman Group added Yanni Andreopoulos, formerly at ABB FIA Formula E, as executive vice president of Global Partnerships.
Beyond Yoga Parent, Levi Strauss, Appoints Board Member
Levi Strauss & Co. announced today that its board of directors has elected Daniel Geballe as a board member, effective April 26, 2025. At that time, current member David Friedman will retire from the board.
B2B Inventory Marketplace Raises $40M in Funding Round
The private b2b marketplace for worldwide brands to sell surplus inventory to new buyers, raised $40 million in Series C funding led by L Catterton with participation from existing investors.
Newton Golf Expands Golf Shaft Distribution Into Japan
Newton Golf partnered with GDO, Japan’s largest e-commerce company, to distribute its Motion Shafts in 50 of the largest retail golf stores in Japan.
Life Time Group Sees Q3 Net Income Surge in Preliminary Report
Total third quarter revenue is estimated to be $693.2 million, an increase of 18.5 percent over the prior-year third quarter. Adjusted net income is estimated to be $56.3 million, an increase of 110.9 percent over the prior year quarter.
Escalade Subsidiary Appointed U.S. Distributor of Adidas Fitness Accessories
The addition bolsters Escalade-owned US Weight’s portfolio of fitness brands, including Lifeline Fitness, U.S. Weight, and The Step.
Report: Inflation Likely to Restrain Sales on Black Friday/Cyber Monday
A recent YouGov report report found that U.S. consumers expect to spend less during these iconic shopping days, with 27 percent planning to spend less and just 9 percent increasing their spend from last year.
Walmart U.S. Appoints Chief Growth Officer
Seth Dallaire, the retailer’s chief revenue officer, was named chief growth officer for Walmart U.S. Walmart’s U.S. Chief Product Officer, Jon Alferness, is leaving the company, but will work in an advisory role through the end of the year.
Puttshack Opens Second Location in Atlanta
The mini-golf experience announced the planned opening of its 20th global location and second venue in Dunwoody, GA, a suburb of Atlanta, on November 6.
Nordstrom’s Head of DEI Departs
Colleen Mitchell, has left the company after just over two years in the role. Before joining Nordstrom in August 2022, she was head of DEI at Petco and prior to that, held a similar role at Amazon.
Toca Football Raises $100 Million In Funding
The largest indoor soccer center operator in North America and the official soccer training partner of Major League Soccer, raised approximately $100 million in private funding to accelerate growth and open additional soccer-themed Toca Social entertainment venues.
Modern Meadow Appoints CEO
Dr. Williamson will transition from president and chief operating officer to chief executive officer, effective October 14. He has worked in multiple roles since 2015 for the Bio-Vera sustainable-materials brand.
Optima Cycles Acquires Dolly Bikes
Amsterdam-based e-bike and electric cargo bike manufacturer Optima Cycles strengthens its position in the growing e-cargo bike market with the acquisition of Dolly, the e-cargo bike brand based in Utrecht, Netherlands.
