SGB Update Sports & Fitness
A4 Apparel Acquires LabFit And Appoints Industry Veteran As President
A4, the Los Angeles-based team and corporate apparel manufacturer, has acquired LabFit Sublimation and hired industry veteran Todd Levine as president. Mark Mertens will remain as chairman and CEO.
Kohl’s Debt Ratings Downgraded
S&P Global Ratings downgraded the debt ratings of Kohl’s Corp. following the retailer’s update on its sales and earnings guidance for the full year. S&P said it expects Kohl’s medium to long-term business prospects will continue to be challenged by the secular headwinds facing department stores.
Dick’s SG Expands On-Demand Retail Delivery
Dick’s Sporting Goods has partnered with DoorDash to use its on-demand delivery service. This makes Dicks its first sporting goods and retail apparel partner.
Red Bull Racing Partners With Castore
The Red Bull Formula One team entered into a multi-year partnership with the UK sportswear brand Castore. The agreement begins with the start of the 2023 season. Castore will supply the racing team with apparel, including sportswear.
GroupeSTAHL Hires New CFO
Michigan-based GroupeSTAHL hired Derek Nugent as chief financial officer.
Lids Opens Flagship In Las Vegas
Lids opened a flagship store on the Las Vegas Strip. The two-story building is the retailer’s largest concept store at 12,000 square feet.
Varsity Spirit To Open New Headquarters In Downtown Memphis
Varsity Spirit will open its new headquarters in downtown Memphis, TN.
BikeExchange Announces Changes In Leadership
BikeExchange/Kitzuma Cycling Logistics has added and shuffled North American positions for BikeExchange, including promoting Cameron Simpson as head of North America.
Recall: Cervélo Bikes
Cervélo recalled about 2,043 model year 2022 R5 and Caledonia-5 bicycles and 182 ST31 LT replacement stems because the bike’s handlebars could slip in the stem and cause the rider to lose control.
August Retail Sales Supported By Job And Wage Gains Amid Continued Inflation
The National Retail Federation reported core retail sales, which excludes automobile dealers, gasoline stations and restaurants, grew 0.1 percent in August from July and were up 8 percent unadjusted year-over-year. Consumers’ willingness to spend overcame inflation again in August as more jobs and higher wages helped ease some of the pressure of continuing high prices, the NRF said.
Mastercard: U.S. Holiday Sales Expected To Grow 7.1 Percent
U.S. retail sales, excluding automotive, are expected to increase 7.1 percent year-over-year this holiday season, according to the Mastercard SpendingPulse annual holiday forecast.
Olympia Sports Retains Liquidators To Close Remaining 34 Stores
Olympia Sports, which filed for bankruptcy this week to support liquidation, hired SB360 Capital Partners, LLC as its exclusive consultant to conduct “Going Out of Business” sales in its remaining 34 stores.
Skechers Senior Vice President, Domestic Sales, To Retire
After nearly three decades with Skechers, Senior Vice President of Domestic Sales Rick Graham announced his retirement. Pete Calichman will replace Graham.
Golftec Opens Location In Atlanta
Golftec announced it opened an instruction and club fitting center in Atlanta, GA.
Railroad Strike Averted After Tentative Deal Reached
Railroads and workers’ unions reached a tentative labor agreement early Thursday, averting a national rail strike that threatened to shut a major segment of the U.S. transportation network.
