SGB Update Sports & Fitness
Signa Sports’ Sales Expand 11 Percent in First Quarter
Signa Sports United N.V. (SSU) reported net revenue grew 11 percent in the first quarter despite supply constraints in the full-bike category. Excluding full-bike sales, net revenue grew 15 percent.
Beachbody’s Revenues Slide 4 Percent In Q4
The Beachbody Company, Inc. reported fourth-quarter results exceeded guidance, marked by a 42 percent two-year growth in total digital and nutritional subscriptions and a 21 percent gain in total streams versus 2019.
Big 5 Posts Flat Comps In Fourth Quarter
Big 5 Sporting Goods Corp. reported earnings declined 5.2 percent in the fourth quarter ended January 2 as same-store sales inched up 0.2 percent. The sporting goods chain forecast a steep drop in sales and earnings in the first quarter due to tough year-ago comparisons.
Authentic Brands Group Finalizes Acquisition Of Reebok
Authentic Brands Group announced that it completed the acquisition of Reebok from Adidas. Becoming its largest acquisition to date, the company said it is setting a “new path for Reebok” that capitalizes on the brand’s heritage in sports and fashion.
Acushnet Posts Flat Q4 Revenues On Supply Chain Constraints
Acushnet Holdings Corp. reported sales were flat against year-ago levels as supply chain constraints impacted sales volumes across all reportable segments. The parent of Titleist reported a net loss in the period due to increased inbound freight costs, the negative impact of raw material and component shortages on production costs, lower golf club sales and higher marketing expense. For the year, sales grew 33 percent and adjusted EBITDA surged 41 percent.
Kohl’s Q4 Earnings Tops Wall Street Targets
Kohl’s Inc. reported a decline in fourth-quarter earnings but they topped Wall Street estimates. Sales in the quarter rose 5.8 percent. Kohl’s provided an upbeat outlook for the year.
Asics Promotes Yasuhito Hirota To CEO
Asics promoted Yasuhito Hirota to CEO. Hirota has been president and COO for four years and will retain those roles.
Gaia’s Q4 Revenues Expand 12 Percent
Gaia reported sales grew 12 percent in the fourth quarter and 19 percent in the year.
IFit CEO To Step Down Amid Capital Infusion
IFit Health & Fitness announced a capital raise and said its co-founder, chairman, and long-time CEO Scott Watterson would step down from direct management of the company but remain chairman. Steve Barr, chief financial officer, and Mark Watterson, chief experience officer, were appointed co-presidents of the organization.
Brompton Plans To Open New Headquarters In Ashford By 2027
Brompton, the UK’s largest bike manufacturer, announced plans for an eco-friendly headquarters and factory complex in Kent, England, to double its capacity to manufacture more than 200,000 bikes a year.
Connected Rowing Machine Upstart Aviron Raises $18.5 Million; Announces COO Hire
Connected rowing machine developer Aviron has raised $18.5 million in a Series A funding round that will allow it to double its workforce over the next 12 months. Aviron also announced the hiring of Amy Curry-Staschke, formerly at Nike, as chief operating officer.
Therabody To Open Wellness Centers And Stores
Therabody, the maker of vibrating massage guns, expects to have 22 physical locations opened by July 2022 with additional Reset and retail locations in the planning stages, which it aims to open later this year.
Frasers Group Acquires Studio Retail
Frasers Group has bought online retailer Studio Retail out of administration, the U.K equivalent of bankruptcy proceedings, for £26.8 million ($36M).
IHRSA 2022 To Take Place In Miami Beach
IHRSA’s 41st International Convention & Trade Show (IHRSA 2022) is set to take place from June 22-24, 2022, in Miami Beach, FL, at the Miami Beach Convention Center.
U.S. Golf Rounds Played Drop In January
According to Golf Datatech, U.S. rounds of golf played fell 12.2 percent in January compared to January 2021.
