SGB Update Sports & Fitness

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.

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.

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.

Kitzuma Cycling Logistics Expands Operations

Kitzuma Cycling Logistics has expanded its fulfillment services with the recent acquisition of warehouse space in Salt Lake City and Asheville, NC. Kitzuma, the fully built bike delivery company, has created a one-stop shop for warehousing bikes, processing orders and shipping to retailers or consumers. With 20,000 additional square feet, Kitzuma is positioned to support […]

Wolverine Worldwide Lowers Outlook Despite Second Quarter EPS Beat

Wolverine World Wide Inc. reported second-quarter earnings topped Wall Street estimates in the second quarter ended July 2, but sales fell short due to supply chain disruption. Guidance for the year was reduced due to expectations of higher promotional activity amid elevated inventories in the back half of the marketplace.

Acon Investments Increases Stake In New Era Cap

Acon Investments has announced closing a single-asset continuation round worth around $700 million to increase its stake in the New Era headwear brand while bringing in new backers. As part of the transaction, Major League Baseball, the National Football League and the National Basketball Association will become minority owners in New Era Cap.

Nautilus’ Q1 Revenues Tumble 70 Percent

Nautilus Inc. reported a steep loss in the fiscal first quarter as sales plunged 70.3 percent year over year. The fitness company said it achieved the upper end of its revenue guidance and beat its adjusted EBITDA guidance while. Direct net sales are up 27 percent vs pre-pandemic Q120 quarter.