SGB Update Sports & Fitness
Puma Adds Swimwear License
Puma and United Legwear & Apparel Co., LLC (ULAC) announced that they entered into a licensing agreement in North America for the production, sales, marketing, and distribution of Puma swimwear for men’s, women’s and kid’s.
Target Warns Of Profit Decline Over Inventory Imbalances
Target lowered its forecast for the second quarter as it plans to markdown merchandise, remove excess inventory and cancel orders in an effort to right-size its inventory levels.
IDC: Wearables Market Sees First Quarterly Decline As Demand Normalizes
The global wearables market faced its first-ever decline during the first quarter of 2022 (1Q22) as unit shipments totaled 105.3 million units, down 3.0 percent year over year, according to new data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker.
Signa Sports Appoints CEO
Signa Sports United (SSU) has appointed Max Heimann as chief executive officer of the Internetstores Group. Heimann will lead SSU brands, including Fahrrad.de, Probikeshop, Addnature, and CAMPZ across Europe for SSU.
Nextiles Raises $5M In Funding Round To Build Fitness Trackers
Nextiles, a smart fabric technology for athletes, announced its $5 million seed round led by Drive by DraftKings, with participation from the NBA, Madison Square Garden Sports Corp., Alumni Ventures, SmartSports, Phoenix Capital Ventures, and Newlab.
Academy Sports Q1 Tops Expectations
Academy Sports reported first-quarter results that topped Wall Street targets but the retailer still slightly lowered its outlook due to macroeconomic challenges. Ken Hicks, CEO said, “We are satisfied with our first-quarter results as the company continued to position itself for long-term growth and expansion as we executed effectively in a highly dynamic environment and against a very strong prior-year quarter.”
ZT Corporate Acquires Baseball Nation
ZT Corporate, a Houston-based private equity firm, announced the acquisition of Baseball Nation, a baseball organization that hosts training, multiple leagues and tournaments at its North Texas facilities.
Peloton Appoints CFO
Peloton Interactive, Inc. announced it had appointed Liz Coddington as chief financial officer, effective June 13, 2022.
Compass Diversified To Acquire PrimaLoft
Compass Diversified (CODI) has entered into a definitive agreement to acquire the equity of PrimaLoft Technologies Holdings, Inc., the parent company of PrimaLoft Inc., for an enterprise value of $530 million.
PLAE Appoints Director Of Product Innovation
PLAE, the fitness equipment maker based in Canton, GA, hired Roy Simonson as director of product innovation.
REI To Open Third Location In South Carolina
REI Co-op will open a new store in Mount Pleasant, SC in fall 2022.
Moody’s Lowers Wolverine’s Debt Outlook
Following a similar move by S&P Global Ratings, Moody’s Investors Service changed Wolverine World Wide, Inc.’s outlook to negative from stable.
Two Bidders Seek Discount Price To Acquire Kohl’s
Private equity chain Sycamore Partners and retail conglomerate Franchise Group have submitted bids to acquire Kohl’s, sources told the Wall Street Journal. Both offers were well below amounts the company turned down earlier this year.
Amazon Consumer CEO Resigns
Amazon’s consumer CEO, Dave Clark, will leave the company next month, the e-commerce giant announced in a blog post Friday and reflected in a regulatory filing.
Rally House Adds Stores in Philadelphia, Louisville And Kansas City
Rally House opened new stores in Philadelphia, Louisville and Kansas City markets.
