SGB Update Sports & Fitness
Callaway Golf’s Q1 Sales Surge 60 Percent
Callaway Golf reported net revenues in the first quarter increased 59.6 percent to $1.04 billion. The gains were driven by the acquisition of Topgolf but also double-digit growth in its Golf Equipment business as well as Apparel, Gear and Other business. The company raised its guidance for earnings and sales for the year.
Planet Fitness Sees Same-Store Sales Climb 16 Percent In First Quarter
Planet Fitness, Inc. reported earnings tripled on a 67 percent revenue gain for its first quarter ended March 31. System-wide same-store sales increased 15.9 percent, and the fitness chain ended the period with more than 16.2 million members, up from 14.1 million a year ago.
Form Appoints Board Members
Form, the direct-to-consumer fitness technology company behind the Form smart swim goggles, has appointed two tech industry veterans, Ed Baker and Eric Min, to its board.
Rawlings And Easton Partner With D-Bat
Rawlings and Easton recently entered into a multi-year agreement with Texas-based D-Bat, the baseball and softball training academy franchise. Through the deal, Rawlings and Easton will occupy and manage retail space in D-Bat’s more than 100 facilities while providing an exclusive assortment of stock and custom products for sale.
Xponential Fitness Signs Master Franchise Agreement For Mexico
Xponential Fitness, Inc. announced it has signed a Master Franchise Agreement in Mexico for three of its brands— StretchLab, Rumble and AKT.
Trustmark Acquires FitReserve
National employee benefits provider Trustmark has acquired FitReserve, a multi-studio fitness subscription. The acquisition enhances the management solutions offered by the Trustmark subsidiary HealthFitness.
Jelenew Appoints Creative Director
American women’s cycling brand Jelenew appointed ex-Chanel designer Di Liu as its creative director.
Har-Tru Buys Ball Machine Company Lobster Sports
Har-Tru, LLC, based in Charlottesville, VA, has acquired Lobster Sports, Inc, the supplier of portable, pickleball and tennis ball machines.
U.S. Ports Set New Record For Imports
Imports at the nation’s major retail container ports set a new record this spring and are expected to see near-record volume this month as retailers bring in merchandise ahead of rising costs and further supply chain issues, according to the monthly Global Port Tracker report released by the National Retail Federation.
Amer Sports Completes Suunto Transaction
Amer Sports and Liesheng have completed the transaction in which Amer Sports divests Suunto to Liesheng, the Chinese technology brand.
Peloton Reports Q3 Sales Slump Of 24 Percent
Peloton reported a wider-than-expected loss in the fiscal third quarter ended March 31 amid a steep decline in sales. The connected fitness equipment maker also offered up a weak sales outlook for the fourth quarter, citing softer demand.
Rally House Adds Stores In Illinois, Michigan And Indiana
Rally House announced the opening of stores in Skokie, IL; Taylor, MI; and South Bend, IN.
Endura Appoints Brand Director As Founder And Director Step Back
Jim McFarlane, the founder of the cycling apparel brand Endura, and director, Pamela Barclay, announced plans to step back from the day-to-day management of the business. Noah Bernard has been appointed brand director and will lead the company.
Beachbody’s Q1 Sales Decline 12 Percent
The Beachbody Company, Inc., the subscription health and wellness company, reported a wider loss in Q1 ended March 31 as sales declined 12 percent.
Wahoo Fitness’ Debt Ratings Downgraded
Wahoo Fitness’ debt ratings were downgraded by Moody’s and S&P Global Ratings due to weaker than expected demand and intense price competition in the at-home fitness space.
