SGB Update Sports & Fitness
Recall: Goalsetter Wall-Mounted Basketball Goals
About 18,000 Goalsetter wall-mounted basketball goals were recalled. The basketball goal could detach from the wall and fall to the ground, causing injury or death.
Deckers Brands’ Q2 Again Driven By Hoka’s Outperformance
Deckers Brands reported earnings and sales both exceeded analyst targets in the second quarter ended September 30 and maintained its outlook for sales and EPS for the fiscal year despite margin pressures. Sales of Hoka surged 58.3 percent year over year in the quarter while sales of Ugg gained 6.3 percent.
Fanatics Hires Global HR Executive And Organizational Leader
Fanatics hired Orlando Ashford for the newly created chief people officer (CPO) role at Fanatics Holdings working closely with the company’s three businesses—commerce, collectibles and betting and gaming while managing global human resources.
Escalade’s Sale Decline 7.9 Percent In Third Quarter
Escalade Inc. reported earnings fell by 50 percent in the third quarter ending October 1 as margins eroded and sales dipped 7.9 percent.
Mitchell & Ness, Fanatics Expand Ownership Group
Fanatics expanded the ownership group of Mitchell & Ness. The ownership group now includes LeBron James, Kevin Durant, Chris Paul, CJ McCollum, Devin Booker, James Harden, Joel Embiid, Odell Beckham Jr., Kevin Hart, Rich Paul, Rich Kleiman, Scooter Braun, and Steve Stoute.
Delta Apparel Names Senior Director Of DTG2Go
Delta Apparel, Inc. hired Patrick Bowman as senior director of DTG2Go, its digital print business unit.
Garmin Raises 2022 EPS Guidance On Improved Margin Outlook
Garmin Ltd. reported sales declined 4 percent in the third quarter ending September 24, dragged down by an 18 percent slide in the fitness segment. Second-quarter earnings topped Wall Street estimates and Garmin lifted its full-year EPS outlook on an improving margin outlook.
Puma Sees 17 Percent Currency-Neutral Growth In Q3
Puma reiterated its outlook for the year despite market volatility while reporting another quarterly record of sales and EBIT performance in the third quarter ending September 30. Sales in the third quarter grew 16.9 percent on a currency-adjusted basis, led by growth of 18.8 percent in the Americas region and 18.5 percent in EMEA.
Shimano’s Revenues Expand 18 Percent In Nine Months
Shimano, Inc. reported sales grew 18.3 percent in the nine months ended September 30 with sales expanding 20.6 percent in the Bicycle Components segment and 9.0 percent in the Fishing Tackle segment.
Skechers’s Q3 Falls Short Of EPS Guidance
Skechers USA, Inc. reported sales in the third quarter ended September 30 ran up 20.5 percent but earnings missed guidance amid margin pressures and foreign exchange currency headwinds. Guidance for the fourth quarter was also provided that was below Wall Street targets.
Body Fit Training Opens First Canadian Location, Sets Sights On U.S. Growth
Body Fit Training opened its first Canadian studio in Toronto, marking the company’s North American growth after being acquired by Xponential Fitness, Inc. last year.
Brand Velocity Group Launches Sports Industry Vertical
Brand Velocity Group (BVG), the investment firm, launched its sports-focused vertical, Brand Velocity Group Sports (BVGS). Joseph Cohen, chairman and CEO, West Ridge Associates, a sports and media consulting firm, will serve as chairman of BVGS.
Adidas Ends Partnership With Kanye West
Adidas said on Tuesday that it is ending its partnership with Ye, formerly known as Kanye West, after the rapper made antisemitic remarks. Adidas said the move would have a short-term negative impact of up to ($246 million (€250 million) on net income in 2022 due to high seasonality in the fourth quarter.
Gold’s Gym Owner Rainer Schaller, Family Feared Dead
Rainer Schaller, owner of RSG Group, which includes McFit, John Reed and Gold’s Gym fitness studios, and his family were among the six people aboard a private plane that crashed off the coast of Costa Rica, RSG Group said in a statement Monday.
Puttshack Plots Expansion
Puttshack plans to open locations in Boston and Miami this fall and another in St. Louis this winter.
