SGB Update Sports & Fitness
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.
Fox Factory’s Q4 Sales Climb 31 Percent
Fox Factory Holding Corp. reported adjusted earnings rose 17.3 percent in the fourth quarter on a 30.5 percent revenue gain. This increase reflects a 46.7 percent increase in Specialty Sports Group sales and a 18.6 percent increase in Powered Vehicles Group sales.
Foot Locker Forecasts Steep Comp Decline In 2022 As It Reduces Sales From Nike
Foot Locker Inc. reported fourth-quarter earnings exceeded Wall Street targets but guided 2022 revenues well below Wall Street targets as it expects to reduce sales from Nike Inc. to below 55 percent of its mix by the fourth quarter of 2022 from about 65 percent in the 2021 fourth quarter. As a result, same-store sales in 2022 are expected to decline 8 percent to 10 percent.
CODI Delivers Fourth Straight Quarter Of Record Results
Compass Diversified (CODI) reported earnings nearly tripled in the fourth quarter as sales grew 27 percent. Said Elias Sabo, CODI’s CEO, “Our consumer business again delivered solid results, driven by continued strong performance at our most recent acquisitions, and our niche industrial business experienced increased demand for their products during the fourth quarter.”
Planet Fitness’ Sales Bounce Back In Fourth Quarter
Planet Fitness Inc. reported sales grew 37 percent in the fourth quarter ended December 31 and predicted sales would climb in the mid-50 percent range in 2022. For 2021, sales were up 44 percent.
Brooks Promotes Dan Sheridan To President
Following a record-breaking 2021 when Brooks Running exceeded $1 billion in annual revenue for the first time, the company announced that Dan Sheridan would assume a new president and chief operating officer role, partnering with CEO Jim Weber, to support continued growth for the brand.
ABG Partners With New Guards Group For Reebok Europe
Authentic Brands Group announced it has formed a long-term strategic partnership with New Guards Group, owned by Farfetch, for Reebok’s European businesses, luxury collaborations and premium distribution.
Superfeet Hires New CFO; Announces VP Level Promotions
Superfeet announced it hired a new chief financial officer, Cambria Schmidt, to support the company’s domestic and international growth.
