SGB Update Sports & Fitness
Yue Yuen Sees Manufacturing Offsetting Retail Weakness In YTD Report
Yue Yuen Industrial (Holdings) Inc. reported revenue of US$6.972 billion in the nine months ended September 30, 2022, representing an increase of 8.2 percent compared to revenue of US$6.441 billion in the prior-year YTD period.
Pro Athletes Join In Ownership Of Honey Stinger
Honey Stinger reported that ten professional athletes had joined in ownership of the company and its principal investor, Factory LLC, as part of a $15 million raise facilitated by Chaos Ventures.
SportChek’s Sales Dip In Third Quarter
Canadian Tire Inc. reported SportChek’s retail sales were down 1.5 percent in the third quarter with comparable sales down 1.0 percent over the same period last year.
Wolverine World Wide Re-Aligns Brand Structure, Leadership
Wolverine World Wide, Inc. is reorganizing its brand group structure into the Active, Work, and Lifestyle Groups and appointed new leadership for each group.
OS1st Appoints SVP Business Development
OS1st hired industry veteran Chris Bevin as the brand’s SVP of business development.
TUT Fitness Group Expands Strategic Advisory Board
TUT Fitness Group Inc. added Ron Lynch, former creative strategist for Go Pro, Samsung and J&J, and Eric Petersen, former SVP of global brand and community at Lululemon, as sales and marketing executive advisors to its strategic advisory board.
Golftec Opens Location Outside Richmond
Golftec announced the opening of an instruction and club fitting center in Midlothian, VA at 11615 Midlothian Turnpike, Midlothian, VA 23113.
Arena Names Global Marketing And Trade Marketing Director
Arena, the Italian swim specialist, hired Kamila Pilwein as global marketing & trade marketing director. She was EMEA head of channel marketing for Boardriders.
Mizuno Shows Strong Gains In Fiscal Half
Mizuno Corp reported net profits grew 50.1 percent on a 16.6 percent revenue gain in the fiscal six months ended September 30. Sales were up 26.6 percent in the second quarter.
Cocona Labs Hires Chief Operations Officer
Cocona Labs welcomed back Christopher Leyes as chief operations officer. Leyes returns to the company having worked as the director of operations at Pangea Organics.
Yakima’s Global Organization Structure To Accelerate Growth, Increase Collaboration
Yakima announced, effective immediately, that Ryan Martin, CEO of the Americas Region, had increased responsibilities to drive strategic direction and growth in Australasia (Australia, New Zealand, Pacific Islands) and EMEA (Europe, Middle East, Africa).
Life Time Lifts Guidance As Q3 Beats Plan
Life Time Group Holdings, Inc. slightly lifted its outlook for the year after reporting third-quarter results that topped its guidance. Sales were ahead 28.9 percent as fitness center memberships were up 9.0 percent year-over-year.
Beachbody’s Q3 Exceeds Guidance
The Beachbody Company, Inc. saw sales decline 20 percent in the third quarter that ended September 30, but the subscription health and wellness company delivered third-quarter revenue and adjusted EBITDA results ahead of guidance.
Nautilus’ Sales Tumble In Second Quarter
Nautilus Inc. reported sales declined 53 percent in the second quarter and lowered its guidance for the year although it noted that it’s still seeing strong gains versus pre-pandemic levels.
HanesBrands Lowers Guidance On Macro-Related Challenges
HanesBrands, Inc. reduced its sales and earnings outlook due to “increased macro-related challenges within the global operating environment.” Third-quarter earnings came in line with expectations despite global Champion sales decreasing 9 percent on a currency-neutral basis.
