SGB Update Sports & Fitness
Report: Steph Curry Nearing $1B Lifetime Contract With Under Armour
Steph Curry is poised to sign a lifetime contract with Under Armour worth “potentially more than $1 billion,” according to a report from Rolling Stone.
Patagonia’s Next Chapter
Patagonia announced new ownership today, nearly 50 years since Yvon Chouinard founded the business. Effective immediately, the Chouinard family has transferred ownership to two new entities—Patagonia Purpose Trust and the Holdfast Collective, with every dollar that is “not reinvested back into Patagonia be distributed as dividends to protect the planet.”
Hydrow Announces Settlement Of Infringement Lawsuit Against iFIT
Hydrow announced it had reached a settlement agreement with iFIT, resolving the ongoing lawsuit filed by Hydrow earlier this year.
Wahoo Fitness Debt Ratings Downgraded
S&P Global Ratings downgraded Wahoo Fitness Acquisition, LLC’s debt ratings after the U.S.-based fitness technology company’s revenue and earnings for the second quarter of 2022 came in sharply below S&P’s expectations because of weaker-than-expected demand and higher costs.
Deloitte: Holiday Retail Sales Expected To Increase 4 Percent To 6 Percent
Holiday retail sales are likely to increase between 4 percent and 6 percent in 2022, according to Deloitte’s annual holiday retail forecast. In 2021, holiday sales grew by 15.1 percent in the same period.
Amynta Group Acquires iFIT Health & Fitness Extended Warranty Operations
AmyntaGroup, an insurance services provider, has acquired the extended warranty operations of iFIT Health & Fitness, Inc., operated through its wholly-owned subsidiary, Universal Technical Services.
Orangetheory Appoints Chief Marketing Officer
Orangetheory Fitness hired Kelly Lohr as chief marketing officer, reporting to co-founder and chief executive officer, Dave Long.
Peloton Expands Rental Program Across the U.S.
Peloton announced the national expansion of its rental program, which kicked off in select test markets earlier this year.
Yue Yuen’s Sales Surge 61 Percent In August
Yue Yuen Industrial (Holdings) Limited reported sales in the month of August rose 61.0 percent to $774.7 million from $481.2 million a year ago.
Olympia Sports Files For Bankruptcy Protection To Liquidate Remaining Stores
Maine-based Olympia Sports Acquisitions, LLC filed for Chapter 11 protection with plans to liquidate its remaining 35 stores, citing poor sales, online competition and residual problems from the COVID-19 pandemic.
Drive Shack Opens Puttery Location In Houston
Drive Shack, Inc. has opened the Puttery in Houston, TX.
Peloton’s Co-Founders Step Down From Board
Peloton Interactive, Inc. said it had accepted the resignations of John Foley as Executive Chair and Hisao Kushi as Chief Legal Officer, effective September 12, 2022, and October 3, 2022, respectively. The Board elected Karen Boone as Chairperson.
Survey: One-Third Of Gym-Goers Say They Have Not Returned To The Gym
UpSwell Marketing’s recent fitness consumer survey found that while 50 percent of respondents returned to the gym within nine months of COVID restrictions lifting, nearly one-third, 27.7 percent, said they have not returned, and 31.2 percent are working out less in 2022.
Bangor’s Epic Sports To Close
According to the Bangor Daily News, Epic Sports, based in Bangor, ME, plans to close the store this fall after 25 years in business.
On Launches Online Trade-In Program
On, the Swiss running brand, announced the launch of a new resale site and online trade-in program
