SGB Update Sports & Fitness
Gymshark Sees 54 Percent Hike In Revenue In Fiscal 2021
Gymshark, the UK-based activewear brand, reported a 54 percent increase in revenue in its fiscal year ending July 31, 2021, according to accounts filed to the UK’s Companies House.
Callaway Golf Announces $100 Million Stock Repurchase Program
Callaway Golf Company announced that its Board of Directors has authorized the company to repurchase up to $100 million of the company’s common stock in the open market or in private transactions.
JD Sports Founder And Chairman Steps Down
J.D. Sports Fashion Plc announced that due to an ongoing review of its internal governance and controls, it is accelerating the separation of the roles of chair and CEO. As a result, Peter Cowgill, executive chairman, will step down effective immediately.
On Appoints Board Member
On, the Swiss running brand, announced the election of Dennis Durkin as an additional independent member of its Board of Directors.
Adidas Revamps Portland Headquarters
Adidas unveiled its upgraded and expanded Adidas North America HQ in Portland, OR. Since the start of the project in 2018, nearly 220,000 square feet has been added, including three new buildings, a new gym, new cafes, additional parking and a sustainable soccer pitch.
Golf Rounds Played Decline 13 Percent In April
Golf Datatech’s National Rounds Played Report for April shows that U.S. rounds were down 12.9 percent in the month and off 9.8 percent year-to-date year-over-year.
Omorpho Closes $6 Million Investment
Omorpho, the micro-weighted Gravity Sportswear collection, closed a $6 million seed funding round at a $26 million valuation. The investment was led by KB Partners with participation from Greenchain Capital and Madison Square Garden Sports Corp. (MSG Sports).
Dick’s SG Lowers FY Guidance Despite Q1 Beat
Dick’s Sporting Goods reported earnings and sales in the first quarter topped Wall Street expectations but reduced its guidance for the year due to “macroeconomic” challenges.
Evnroll Moves To Expanded Corporate Offices
To support global growth, putter manufacturer Evnroll has moved its headquarters to Aston Avenue in Carlsbad, CA.
Varsity Brands’ Debt Ratings Upgraded
S&P Global Ratings upgraded the debt ratings of Varsity Brands Holding Co. Inc. as the company’s financial performance continues to improve as it recovers from COVID-19 pandemic lows.
Puma Opens Virtual Place On Roblox
Puma launched a sports-based experience on Roblox, the online gaming platform where participants compete in mini-games and training activities.
Nautilus Sales Fell 41 Percent In Fiscal Fourth Quarter
Nautilus Inc. reported sales were down 41.9 percent in the fourth quarter ended March 31. Sales grew 28 percent versus the fourth quarter of 2020 or 41 percent excluding the sold Octane business. The company lost money in the quarter but expects to achieve positive adjusted EBITDA for the second half of the current fiscal year.
Ebay To Open First Sneaker Store In Los Angeles
Ebay’s “Wear ‘Em Out” sneaker store is scheduled to open on Fairfax Avenue in Los Angeles this Memorial Day weekend. It is the e-tailer’s first retail store devoted to sneaker sales.
Five Iron Golf Tees To Open In Cleveland
Five Iron Golf signed a lease at 1101 Euclid Avenue in Euclid Grand, OH, occupying approximately 16,000 square feet of ground-floor retail space; this is its second location in Ohio and the seventh in the Midwest with three current Chicago locations and two more in development in Michigan.
True Spec Golf Opens Denver Custom Fitting Studio
True Spec Golf announced that its seasonal Denver studio will open on May 24 for the 2022 season.
