SGB Update Sports & Fitness

Life Time Opens Wall Street Location

Life Time announced the opening of Life Time One Wall Street, the first of three athletic clubs planned to open in New York City by the end of 2022.

Todd Krinsky New CEO Reebok

Authentic Brands Group (ABG) has promoted Todd Krinsky as the new CEO of Reebok after acquiring the brand earlier this year. Matt O’Toole, who has led Reebok for the past 15 years, will transition to join ABG as executive chair in January 2023.

Target CEO Brian Cornell To Stay Three More Years

Target said Brian Cornell agreed to remain in his role as CEO for an additional three years. With Cornell’s commitment, Target’s Board of Directors eliminated its retirement policy, designed to initiate a discussion regarding the possible retirement of its CEO at the age of 65.

Peloton May Face Civil Monetary Penalties Related To Treadmill Recall

Peloton Interactive is facing possible civil penalties over its voluntary recall of the Trend+ treadmill, the connected fitness leader disclosed in a regulatory filing. The Tread+ was taken off the market last year following reports that adults, children, pets, and objects had been pulled beneath the equipment and caused the death of a child.

Academy Sports Q2 EPS Exceeds Wall Street Targets

Academy Sports reported earnings in the second quarter came in comfortably ahead of Wall Street expectations. Comps declined 6.0 percent against challenging year-ago comparisons but improved sequentially versus the first quarter. The sporting goods chain reiterated its 2022 full-year net and comparable sales guidance.

Castore Secures New Debt Facility

Castore, the UK sportswear brand, has secured a new £50 million ($63 mm) revolving credit facility (RCF), valuing the company at £750 million ($942 mm).

Puma IT Executive Joins Jesta I.S.

Jesta I.S., Inc., a developer of modular cloud solutions and ERP for retailers and brand manufacturers, hired Jon Vacca, its chief operating officer.

Report: Kohl’s Gets Bid For Real Estate

Private equity firm Oak Street Real Estate Capital, LLC has reportedly offered to acquire as much as $2 billion in property from Kohl’s Corp.