SGB Update Sports & Fitness
Trek Bicycle Appoints VP Of Ascend
Trek Bicycle, based in Waterloo, WI, announced that longtime executive Roger Gierhart will take the helm as vice president of Ascend, the retail management system that Trek sells to independent retailers.
Kohl’s Names Chief Marketing Officer
Kohl’s announced that Christie Raymond was promoted to chief marketing officer, reporting to CEO Michelle Gass.
Ahead Appoints Director Of Strategic Accounts
Ahead announced it hired Jackie Kirkwood as director of strategic accounts. Most recently, Kirkwood was general manager for Ecco Golf USA
SoulCycle To Close About A Quarter Of Its Locations
SoulCycle is closing 19 of its 82 studio locations nationwide within the next few weeks, CEO Evelyn Webster announced Friday in a town hall-style Zoom meeting with its employees.
Peloton Is Cutting Jobs, Exiting Stores And Raising Prices
Peloton in a memo to employees said it is cutting approximately 780 jobs, closing a significant number of stores and hiking prices on the Tread and Bike+ in further moves to improve profitability.
Fanatics Expands Partnership With Detroit Lions To Create Omnichannel Shopping Experience
Fanatics and the Detroit Lions extended its multi-year deal, expanding on their existing e-commerce partnership, which now sees Fanatics become the team’s end-to-end omnichannel retail partner. A cornerstone of the new partnership is Fanatics’ investment to reinvent the in-venue retail experience for consumers, highlighted by Lions Supply, a new team store inside Ford Field.
Peloton To Face Lawsuit Over Availability Of Fitness Classes
U.S. judge on Thursday ruled that Peloton Interactive Inc. must face a proposed class action lawsuit accusing the bike and treadmill maker of misleading customers about the “ever-growing” size of its library of on-demand fitness classes, according to a report from Reuters.
SportChek Same-Store Sales Expand 4.1 Percent in Second Quarter
SportChek’s retail sales increased 0.6 percent in the second quarter, with comparable sales up 4.1 percent over the same period last year, according to its parent, Canadian Tire Corporation, Ltd.
Jordan Brand Announces 20-Year Partnership With Howard University
Jordan Brand announced a 20-year partnership with Howard University. The Nike subsidiary will unveil the first Jumpman uniforms for the program on August 27.
Xponential Fitness Raises Outlook On Robust Q2
Xponential Fitness, Inc. raised its full year 2022 guidance for revenue and adjusted EBITDA after reporting second-quarter revenue surged 66 percent.
Brooks Running Sees Double-Digit Growth In Q2
Brooks Running reported sales grew 11 percent in the second quarter year over year. In the face of ongoing economic and supply chain stressors, Brooks said it began to meet strong demand in May, keeping the company on track for projected double-digit revenue growth in 2022.
Leatt’s Q2 Revenues Gain 25 Percent
Profits at Leatt Corp rose 13 percent in the second quarter on a 25 percent revenue gain.
Golftec To Acquire Skytrak, Names Chief Strategy Officer
Golftec has entered into a definitive agreement to acquire SkyTrak, the consumer launch monitor and simulator. In support of this acquisition, Golftec named golf industry veteran Jeff Foster as chief strategy officer.
HanesBrands’ Second Quarter Dragged Down By Cyber Attack
HanesBrands, Inc. reported sales and earnings for the second quarter were negatively impacted by a ransomware attack as well as softer-than-expected point-of-sale trends. Global Champion brand sales decreased 20 percent over prior year in constant currency. The parent of Champion and Hanes significantly reduced its guidance for the year.
Life Time Sees 42 Percent Growth In Q2
Life Time Group Holdings, Inc. reported sales grew 42 percent in the second quarter ended June 30 with gym memberships up 10.2 percent year-over-year across its nearly 160 athletic country clubs across the U.S. and Canada.
