SGB Update Sports & Fitness
Descente’s Q3 Profits Jump On 8 Percent Sales Gain
Descente reported operating profits in the fiscal third quarter ended December 31 rose 44.4 percent as sales increased 8.0 percent.
Signa Sports Posts €566 Net Loss In 2022; Sees Bike Overstocks Into 2024
Signa Sports United N.V. posted 28 percent growth in net revenue to €300 million in the fourth quarter and revenues grew 31 percent to €1.063 billion for the full year on a reported basis.
BRC Points To Return To Office Trends Driving Retail Foot Traffic In January
The British Retail Consortium (BRC) reported that total U.K. retail foot traffic increased 12.5 percent year-over-year (YoY) in January, 2.6 percentage points worse than December but better than the three-month average increase of 10.3 percent.
Hanesbrands’ Debt Ratings Downgraded By S&P And Moody’s
Hanesbrands, Inc.’s debt ratings were lowered by S&P Global Ratings and Moody’s Investors Service after the parent of Hanes and Champion reported fiscal 2022 results below expectations and the suspension of its annual dividend to prioritize debt repayment.
SquadLocker Sets CEO Transition
SquadLocker named George Overholser as chief executive officer. Overholser succeeds Gary Goldberg who will transition to a president and founder title.
Club Champion Opens First Location In Scotland
Club Champion opened its first fitting studio in Glasgow, Scotland. It follows the acquisition of the UK-based club fitter Golf Principles in early 2022. Club Champion also has partnered affiliations in Canada, England, and Australia.
Wolverine’s Debt Rating’s Lowered Following Q4 Guidance Update
Moody’s downgraded the debt ratings on Wolverine World Wide, Inc. due to the footwear maker’s updated Q4 2022 guidance, which was lower than previously projected by Moody’s, as well as Moody’s expectation that leverage will remain high over the next 12-18 months.
Dunlop Becomes Official Tennis Ball Of USPTA
The United States Professional Tennis Association (USPTA) said Dunlop replaced Wilson as the official tennis ball of the organization in a multi-year endorsement agreement.
Dick’s SG To Open House of Sport In Boston
Dick’s Sporting Goods, Inc. plans to open a House of Sport store in the Prudential Center at Boston’s Back Bay. Lord and Taylor previously occupied the storefront at 760 Boylston Street.
Authentic Brands Group Partners With Global Citizen
Authentic Brands Group and Global Citizen, an international advocacy organization, reported that they entered into a four-year agreement to create an exclusive brand mark for consumer products, marketing activations and donations programs.
Topgolf To Open Location In Mobile
Topgolf reported that construction is underway on a new venue in Mobile, AL, near the intersection of I-65 and Government Boulevard in the McGowan Park Shopping Center; this is the third Topgolf in Alabama, expected to open in late 2023.
GoPro’s Sales Drop 18 Percent In Fourth Quarter
GoPro, Inc.’s profits on an adjusted basis fell 68.2 percent in the fourth quarter as sales were down 18 percent.
Varsity Brands Amends And Extends Credit Facility
Varsity Brands, the parent of BSN Sports, Varsity Spirit and Herff Jones, plans to extend the maturity on its $1.33 billion senior secured first lien term loan by two years to December 2026, according to Moody’s. Moody’s assigned a B2 rating to the debt.
Origin Taps Under Armour Co-Founder As Strategic Advisor
Origin has tapped Under Armour Co-Founder Kip Fulks as a full-time strategic advisor and partner.
Kohl’s Appoints Kingsbury CEO
The Kohl’s Corporation’s board of directors has unanimously appointed Tom Kingsbury as Chief Executive Officer, effective immediately.
