SGB Update Sports & Fitness
Nike Executive Joins Dutch Bros Board Of Directors
Dutch Bros, Inc. appointed Ann Miller to its Board of Directors. Miller is the executive vice president and chief legal officer of Nike, Inc.
HanesBrands Partners With University of Michigan
HanesBrands and the University of Michigan announced a multiyear extension to its current apparel partnership that gives HBI exclusive rights to design, manufacture and distribute Wolverine fanwear in the mass retail channel.
Burlington Stores Scale Back EPS Outlook
Burlington Stores Inc. reported earnings in the second quarter topped guidance but reduced its EPS guidance for the year as sales came in below plan.
Athleta’s Comps Slide 8 Percent In Second Quarter
Gap Inc. reported same-store sales at Athleta slumped 8 percent in the second quarter. Gap withdrew its overall guidance for the year.
Hibbett’s Q2 Misses Analyst Estimates
Hibbett Inc. reported second-quarter results that came in below Wall Street’s targets as the chain was impacted by delayed back-to-school sales and high freight costs. Same-store sales declined 9.2 percent in the quarter. The retailer still maintained its EPS guidance for the year.
Peloton’s Quarterly Loss Tops $1.2 Billion As Bike, Treadmill Sales Tumble
Peloton Interactive reported worse-than-feared fourth-quarter results as costs of its restructuring efforts surged while issuing a downbeat outlook for the first quarter.
SFIA Study: Fitness Industry Remains In Flux
The Sports & Fitness Industry Association’s (SFIA) new study, 2022 Tracking the Fitness Movement Report, found that while demand for at-home fitness products diminished from pandemic-driven high watermarks, the business remains strong and reflects a positive long-term outlook. The institutional fitness business, equipment sales and health clubs, which suffered during the pandemic, rebounded in 2021 but, for the most part, is not yet back at 2019 levels.
Callaway Golf Company To Change Name To Topgolf Callaway Brands Corp.
Callaway Golf Company announced plans to change its corporate name to Topgolf Callaway Brands Corp. The change follows the company’s merger with Topgolf in 2021.
Peloton Launches Products, Apparel And Accessories In Amazon’s U.S. Stores
Peloton Interactive, Inc. announced that the Peloton Bike, Guide, select accessories, and apparel are selling through Amazon’s U.S. stores, with Bike delivery available to most of the U.S. The arrangement marks Peloton’s first wholesale partner. Until now, Peloton relied on its website and physical showrooms.
361 Degrees Posts 17.6 Percent Growth In Six Months
361 Degrees International Ltd. reported an uptick in profits in the first half as sales grew 17.6 percent to RMB 3,653.8 million ($532 mm). Apparel led the gains.
Anta Sports Sees 13 Percent Growth In Six Months
Hong Kong-based Anta Sports Products Limited reported a slight decline in profits in the six months ended June 30 as lower gross margins offset a 13.8 percent climb in sales. Amer Sports showed a 23.2 percent sales gain.
Ballogy Strikes Partnership With National High School Basketball Coaches Association
Ballogy, Inc., the skills assessment and development app and exposure platform for youth and amateur basketball players, has formed an exclusive partnership with the National High School Basketball Coaches Association (NHSBCA).
Michael Vick Launches Digital Collectibles Platform
Michael Vick, the former NFL quarterback, has co-founded FanField, a sports tech company launching an NFT platform this fall.
Tiger Woods, Rory McIlroy And Mike McCarley Form TMRW Sports
Tiger Woods, Rory McIlroy, and veteran sports industry executive Mike McCarley founded TMRW (Tomorrow) Sports, a technology-focused startup that feature progressive approaches to sports, media, and entertainment. Dick Ebersol is an initial investor.
Academy Sports + Outdoors Opens 12th Store In Atlanta
Academy Sports + Outdoors opened its newest store in Atlanta, GA, its 12th location in the metro area and 20th in the state. Georgia. The 50,200 square-foot store is located at 130 Perimeter Center West in the Perimeter Square Shopping Center.
