SGB Update Sports & Fitness
Beachbody Company Narrows Q1 Loss Despite Sharp Revenue Decline
The Beachbody Company, Inc. reported that total revenue in the first quarter fell 27.1 percent to $144.9 million compared to $198.9 million in the prior-year period. The company’s net loss narrowed considerably at $29.2 million compared to a net loss of $73.5 million in the prior-year period.
Outdoor Cap Hires New Rep For Hawaii And Nevada
Outdoor Cap hired Quinn Bui as its new rep for Hawaii and Nevada. With ten years of experience in the promotional product industry.
Nobull’s Chief Marketing Officer Resigns
Nobull reported that its chief marketing officer, Todd Meleney, resigned.
Drive Shack’s CEO Departs
Drive Shack, Inc. reported that CEO Hana Khouri left the company, and a search is underway for a successor. Mike Compton, a seasoned executive working closely with the executive team for the past six months, was appointed as interim CEO.
Foot Locker Names Nike Exec To Lead WSS Banner
Foot Locker, Inc. hired Blanca Gonzalez as senior vice president and general manager of its WSS banner, effective May 15. Gonzales joins Foot Locker from Nike, Inc., where she was the vice president of North America product merchandising.
USTA Names Managing Director, Strategy And Innovation
The U.S. Tennis Association (USTA) hired Liz McSorley in the newly-created position of managing director, Strategy and Innovation. McSorley, will work from Orlando, FL, reporting to Craig Morris, USTA’s chief executive, Community Tennis.
Golftec Opens Location In Winston-Salem
Golftec opened a new 2,950-square-foot instruction and club fitting center in Winston-Salem, NC.
SidelineSwap Secures Investment From eBay
SidelineSwap, the online marketplace for new and used sporting goods, announced a strategic investment from eBay Ventures, the corporate venture arm of eBay, Inc., and follows an investment in November 2022 from DSG Ventures, the corporate venture arm of Dick’s Sporting Goods.
Xponential Fitness Raises FY Guidance On Improving Q1
Xponential Fitness, Inc. showed a loss in the first quarter that ended March 31 but saw revenue jump 40 percent and raised its outlook for the year.
Fox Factory Powered Vehicles Group Offsets Sharp Drop In Q1 Specialty Sports Group Sales
Fox Factory Holding Corp. reported that sales for the first quarter of fiscal 2023 were $399.9 million, an increase of 5.8 percent. The increase reflects a 35.0 percent increase in Powered Vehicles Group sales and a 30.0 percent decrease in Specialty Sports Group sales.
Fox Factory Holding Corp. Hires First Chief Accounting Officer
Fox Factory Holding Corp. hired Brendan Enick as its first chief accounting officer. He has over 16 years of experience in the accounting industry.
NSGA’s 2023 Participation Report Sees 7 Of 10 Segments Showing Growth
Analysis of the National Sporting Goods Association’s (NSGA) Sports Participation in the U.S. report revealed that seven segments increased in participation in 2022, two segments remained relatively flat and one segment decreased compared to 2021.
Delta Apparel Logs Loss On Mass Channel Destocking
Delta Apparel reported a loss in the fiscal second quarter ended April 1 as elevated inventory levels at the mass channel continue to impact its Delta Direct business. Sales declined 16.2 percent as a gain of over 16 percent at its Salt Life brand was offset by a 20.8 percent drop at its Delta Group segment.
Sports Research Appoints Apple, Nike Vet As Marketing VP
Health and wellness company Sports Research hired Robbie LaBelle as vice president of marketing. He is the first to assume the role in the company’s 43-year history.
Wilson Sporting Goods Opens First California Retail Location
Wilson Sporting Goods Co. unveiled its first retail store in California, located within the well-known Third Street Promenade shopping district in Santa Monica. Wilson has two stores in Chicago and three in Manhattan, including their SoHo flagship and stores on the Upper East Side and Columbus Circle.
