SGB Update Sports & Fitness
Foot Locker’s Debt Ratings Affirmed By S&P
S&P Global Ratings affirmed all its ratings, including its ‘BB+’ issuer credit rating, on Foot Locker following a review.
Wolverine World Wide’s Debt Rating Outlook Revised To Negative
S&P Global Ratings revised its outlook on Wolverine World Wide, Inc. to negative from stable due to an expected increase in leverage due to environmental legal settlement charges and share repurchases. S&P at the same time affirmed all of its ratings, including its ‘BB’ issuer-credit rating.
Hanesbrands Discloses Ransomware Attack
Hanesbrands, the parent of Champion, has disclosed a ransomware attack. The company identified the incident on May 24 and activated its business continuity plans accordingly.
Asics Offers Meal Delivery Service To U.S. Running Community
Asics is offering a prepared meal delivery service in the U.S. with Freshly to help runners optimize performance and recovery.
Moulton Bicycles Appoints COO
Moulton Bicycles appointed Mat Hubbard as chief operating officer.
Wilson Opens Second Store In New York City
Wilson Sporting Goods opened its second retail store in New York City. The store is located on the Upper East Side of Manhattan.
Rally House Adds Location In Texas
Rally House opened a location in Mansfield, TX.
Foot Locker’s EVP, Chief Strategy And Corporate Development Officer To Exit
Foot Locker, Inc. reported in a regulatory filing that W. Scott Martin, formerly EVP, chief strategy and corporate development officer, has left the role on May 24 and will depart from the company on June 23.
Zwift Pauses Smart Bike Plans Amid Layoffs
Indoor training platform Zwift has paused plans for the production of a smart bike, with a reported lay-off of over 150 employees.
The Athlete’s Foot Owner Acquires Shoe City
Arklyz, the parent of The Athlete’s Foot (TAF), announced its acquisition of Shoe City, the Baltimore-based sneaker and streetwear lifestyle retail chain along with an online platform, ycmc.com.
Skechers To Become Pickleball Sponsor
Intersport and the Association of Pickleball Professionals (APP) Tour, USA Pickleball and Major League Pickleball (MLP) have entered into multi-year agreements that makes Skechers the Official Footwear Company of each pickleball organization.
Hibbett Reiterates FY Guidance After Challenging First Quarter
Hibbett Inc., as expected, reported first-quarter results well below year-ago levels that were also just short of Wall Street’s consensus targets. Hibbett said results were in line with internal plans while reiterating full-year guidance. Comps were down 18.9 percent year over year but ahead 22.9 percent against the pre-pandemic first quarter of 2019.
Amazon Style Opens In Los Angeles
Last January, Amazon announced it planned to open physical retail stores. On Wednesday, May 25, the retailer opened its first store, Amazon Style, in the Glendale area of Los Angeles.
BikeExchange CEO Resigns
BikeExchange Limited, based in Melbourne, Australia, said Mark Watkin has resigned as global CEO of BikeExchange, effective immediately.
Gap Slashes Outlook On Old Navy Challenges
Gap, Inc. significantly reduced its earnings guidance for the year due to ongoing challenges at Old Navy as well as broader macroeconomic pressures. In the first quarter ended April 30, same-store sales tumbled 22 percent at Old Navy while also sliding 11 percent at the Gap chain and 7 percent at Athleta.
