SGB Update Sports & Fitness
Under Armour Announces $500 Million Stock Buyback Program
Under Armour Inc. announced that its Board of Directors has authorized the repurchase of up to $500 million of Under Armour’s outstanding Class C common stock, effective immediately.
Play It Again Sports Parent’s Profits Improve In Year
Winmark Corp., the parent of Play It Again Sports, announced net income for the year ended December 25, 2021 of $39.9 million, or $10.48 per share, compared to net income of $29.8 million, or $7.72, in 2020.
Wolverine Worldwide’s Sales Jump 25 Percent In Fourth Quarter
Wolverine Worldwide reported adjusted earnings in the fourth quarter nearly doubled as sales grew 25 percent. Results were slightly ahead of Wall Street targets. Sales grew 35 percent for 2021 and are expected to expand in the range of 15 to 18 percent in the current year.
Puma Scores Record-Breaking Year In 2021
Puma’s fourth-quarter sales climbed 14 percent on a currency-adjusted basis as operating profits showed a slight gain, capping off a year that delivered the highest sales and EBIT (earnings before interest and taxes) in the company history. Puma’s currency-adjusted sales grew 32 percent for the year, and the brand expected at least 10 percent growth in 2022.
My Backyard Sports To Expand Through Franchising
My Backyard Sports, a design and installation company specializing in customizable courts and sport surfaces, announced it will expand its business in the U.S. through franchising.
Naboso Appoints Director Of Sales
Naboso, the maker of recovery products, announced the addition of Brian Roberts as director of sales. Most recently, Roberts was the national sales manager at Altra Running.
FlexIt Appoints Head Of Athletic Performance
FlexIt, the online fitness training platform, named Jason Terry as its first Head of Athletic Performance.
Slinger Closes On PlaySight Interactive Acquisition
Slinger announced the completion of its acquisition of PlaySight Interactive Ltd., a producer of video technology, analytics and automated video production for sports.
Brooks Surpasses $1 Billion In Revenue
Brooks Running reported that it set new records in 2021, ending the year with global revenue exceeding $1.11 billion, an increase of 31 percent year-over-year. This result marks the first time the running brand has reached $1 billion in annual revenue.
JD Sports Raises Full Year Profit Outlook
JD Sports Fashion Plc said that total same-store profits for the twenty-two weeks to January 1 were more than 10 percent ahead of the same period in 2020 with equally positive performance across the Black Friday and Christmas period.
Nike To Return To Beaverton Headquarters On May 2
Nike announced a “phased return” to U.S. offices, with most workers required back by May 3.
Lids Launches E-Commerce Site For Limited Product Releases
Lids has launched a new website, LidsHatDrop.com, for exclusive product drops.
Report: Super Bowl Generated $170M In In-Game Brand Exposure
NFL sponsors Nike, Pepsi and Bose scored highest in brand exposure during the 2022 Super Bowl, according to a report by Hive and Elevate obtained by CNBC.
Mindbody Executes Multi-Year Agreement With Exos
Mindbody announced it renewed its strategic partnership with Exos. The three-year agreement will see Exos using Mindbody’s technology across its more than 200 locations.
Hibbett Sees Q4 Results Coming In Below Guidance
Hibbett, Inc. said fourth-quarter results will come in below guidance due to lower traffic and transaction counts in the back half of the quarter. EPS is now expected in the range of $1.18 to $1.25 against guidance of $1.85 to $2.05. Same-store sales decreased 1.0 percent which is below guidance of positive high single-digit comp sales.
