SGB Update Sports & Fitness

BowFlex Receives NYSE Notice Of Non-Compliance

BowFlex, Inc. received a written notice from the New York Stock Exchange (NYSE) that the company does not comply with its Continued Listing Standards, which requires it to maintain an average global market capitalization of at least $50.0 million over a consecutive 30-day trading period and a total stockholders’ equity equal to or greater than $50.0 million.

Newell Brands Adds New Board Member

Effective January 1, 2024, Anthony Terry, recently retired executive vice president and chief financial officer of Marriott Vacations Worldwide Corp., will serve on the company’s Board of Directors.

Champion Names VP, Chief Marketing Officer

HanesBrands announced that Richard Mcleod was named vice president and chief marketing officer of global Champion. He joined the company from Canada Goose, where he was senior vice president of brand.

ICSC Releases Post-Thanksgiving Weekend Survey Results

The International Council of Shopping Centers (ICSC) reported the results of its post-Thanksgiving weekend survey*, which showed that over half of respondents (56 percent) noted that they shopped just as much or more than in the past, an increase of 6 percent from its 2022 survey.

Bandier Seeks Sale Amid Credit Pressures

Bandier, the women’s activewear brand, is looking for a buyer to acquire its assets, including inventory and intellectual property. DSI Assignments is conducting the expedited sale process.

Castore Secures Equity Investment

Castore, the U.K.-based sportswear brand,  has secured a £145 million ($183.1 million) investment in a funding round led by the Raine Group, the U.S. financial advisory and investment firm.

Reebok Inks Licensing Partner For Sports Equipment

Authentic Brands Group has entered into a long-term licensing agreement with Sakar International to design and distribute Reebok-branded basketball, pickleball, baseball, soccer, and football equipment and electronics, including audio, tech and massage products.

Hanesbrands Gets Debt Ratings Downgrade

Moody’s Investors Service downgraded Hanesbrands, Inc.’s debt ratings to reflect the company’s significant earnings declines through 2023 and Moody’s expectation that leverage and coverage credit metrics will remain weak through the first half of 2024.

Delta Apparel to Sell Fayetteville Factory

Delta Apparel, Inc., in a regulatory filing, said it expects to receive net proceeds of $23 million from the sale and long-term leaseback of its approximately 35-acre campus in Fayetteville, NC. The buyer is RH Dunn, LLC.

Report: U.S. Retail Footwear Sales Dip for Thanksgiving Week

Footwear units sold reportedly declined 4 percent in the week ending November 25, but dollar sales declined at a softer rate of 1 percent due to a 4 percent increase in average selling prices (ASPs)., according to Circana’s point-of-sale data.