SGB Update Sports & Fitness
Centric Brands Acquires Hosiery Division From Daytona Apparel Group
Centric Brands LLC. announced the strategic acquisition of a division of Daytona Apparel Group, a portfolio of retail brands owned by Windsong Brands, that closed on March 24th of this year. Centric will take full ownership of Daytona Apparel Group’s hosiery division which sells product across multiple brands in stores nationwide.
Higg Raises $50M In Series B Funding Round
Higg Co, the technology company behind the Higg Index platform, announced its $50 million Series B funding round. The funding is co-led by technology growth investor Silversmith Capital Partners, Tom Steyer and Katie Hall’s Galvanize Climate Solutions, along with participation by Series A partners Titan Grove and Buckhill Capital.
Puma’s Q1 Boosted By Americas Momentum
Puma reported earnings rose 11.2 percent in the first quarter on a 23.5 percent revenue gain. Currency-neutral growth of 19.7 percent was led by gains of 44.1 percent in the Americas region and 25.5 percent in EMEA that offset declines in Greater China. The company maintained its outlook for the year.
Garmin Sees 9 Percent Growth In First Quarter
Garmin reported sales grew 9 percent in the first quarter ended March 26. Sales gains of 50 percent in its Outdoor segment and 21 percent in its Marine segment offset a decline of 28 percent in its Fitness segment.
Darn Tough Vermont Appoints COO
Darn Tough Vermont announced the promotion of Angelica Taylor to chief operating officer. Taylor is advancing into this role after spending the last year as Darn Tough’s vice president of finance.
Shimano’s Sales Climb 14 Percent In First Quarter
Shimano, Inc. reported sales grew 13.9 percent in the first quarter. Sales grew 13.9 percent in the Bicycle Components segment and 14.1 percent in the Fishing Tackle segment.
Lezyne Restructures Sales And Marketing Team
Lezyne said that after tripling business in the last few years, it is restructuring its global sales and marketing teams.
Altis Closes $10.5 Million Seed Round
Altis, a start-up offering a personal fitness trainer supported by artificial intelligence, announced it has secured over $3 million in financing, bringing its total financing to date to $10.5 million, with additional investments from Mike Capps, former head of gaming titan Epic Games; Bill Flynn, former CEO of Amtrak; and U.S. Olympians JR Celski and Georganne Moline.
Wahoo Acquires RGT Cycling
Wahoo has acquired the virtual cycling platform RGT Cycling, now Wahoo RGT. Terms were not disclosed.
Brooks Takes Top Spot In Performance Running Market
Brooks Running said that in the first quarter, it took the top spot in the U.S. national performance footwear market for the first time, with 22 percent dollar share across all U.S. channels—athletic specialty and sporting goods, mid-tier, premium, and shoe chain.
Callaway Golf Sets Long-Term Financial Targets
Callaway Golf Company expects annual growth projections from fiscal 2021 through 2025 of 10 to 12 percent, led by more than 18 percent growth at Topgolf growth in the high-single digits in its non-Topgolf businesses. The company provided its growth plan as part of its Investor Day.
Brunt Workwear Appoints President
Boston-based Brunt Workwear announced the appointment of Kevin Eskridge, most recently chief product officer at Under Armour, as the company’s president. In this role, Eskridge will oversee the company’s product development, merchandising, sourcing, and global retail expansion.
Academy Sports Opens Store In Conyers, GA
Academy Sports + Outdoors announced the opening of its Conyers, GA store. Academy now has 11 locations across metro Atlanta and 19 throughout Georgia.
Report: JCPenney Owners Offer $8.6 Billion For Kohl’s
Simon Property Group and Brookfield Asset Management are offering to acquire Kohl’s Corp. in a deal that would be worth more than $8.6 billion, according to a report in the New York Post.
NPD Report: Baseball, Lacrosse, Soccer, And Pickleball Drive Sports Equipment Sales In Q1
According to The NPD Group, baseball, lacrosse, soccer, and racquet sports equipment sales increased 19 percent in the first quarter year-over-year and grew 35 percent higher than in 2019.
