SGB Update Sports & Fitness
Under Armour’s Debt Ratings Upgraded
Moody’s Investors Service upgraded Under Armour, Inc.’s debt ratings due to better-than-expected revenue and earnings growth. Mike Zuccaro, Moody’s vice president, said, “”With improved profitability, a much stronger balance sheet and very good liquidity, the company is well positioned to weather the lingering effects of the pandemic.”
OBIT: NSGA’s Paul Prince
Paul Prince, who was a prominent figure at the National Sporting Goods Association (NSGA) and in the sporting goods industry for four decades, passed away after a battle with cancer on December 14, 2021. Prince was 82.
Adidas Originals To Launch Debut NFT Collection
Adidas announced the launch of the company’s first Adidas Originals NFT collection. The drop is in partnership with the Bored Ape Yacht Club (BAYC), the cryptocurrency investor Gmoney and the comic series Punks Comics.
Pelé Soccer Store Opens At Downtown Disney District
Pelé Soccer celebrated its grand opening at downtown Disney district at the Disneyland Resort.
Adidas To Initiate €4 Billion Share Buyback Program
The Executive Board of Adidas has launched a multi-year share buyback program. Starting in January 2022, the company plans to buy back shares in an amount of up to €4 billion until 2025.
PureGym Secures £300M KKR investment
PureGym, which operates more than 500 venues across the UK and Europe, has secured a £300 million ($400M) investment from private equity firm KKR to support expansion.
Tom Brady Signs NIL Deals With College Athletes For New Apparel Line
Tampa Bay Buccaneers QB Tom Brady is tapping into the name, image and likeness (NIL) space with nine NCAA athletes and one newly drafted athlete to launch his new apparel brand, Brady.
REI To Open Store In Glenwood Springs
REI Co-op will open a new store in Glenwood Springs, CO in summer 2022.
Tempo Partners With Lindsey Vonn
Tempo, based in San Fransisco, CA, announced that Lindsey Vonn will serve as a strategic advisor, investor and ambassador to the connected at-home gym upstart.
LT Apparel Group Expands Operations In Greensboro
LT Apparel Group, a manufacturer of childrenswear apparel, is expanding operations in North Carolina with an investment of at least $57 million in Greensboro. The company’s brands include Adidas Kids, Carhartt Kids and its owned brand, French Toast.
BCI Burke Acquired By Bertram Capital
Fond du Lac, WI-based BCI Burke, a maker of commercial play equipment, has been acquired by Bertram Capital.
Life Time To Open In McKinney, TX
Life Time Group Holdings, Inc. said it reached an agreement with the former owners of Craig Ranch Fitness & Spa in McKinney, TX for the closure and purchase of the club.
Scheels Secures Naming Rights For Legacy Sports Complex
Scheels has secured the naming rights for the multi-use sports facility that is under development in the vicinity of its store in the Legacy Pointe Town Center in Springfield, IL.
Slinger Sales Reach $5.4 Million In Second Quarter
Slinger reported sales in the second quarter ended October 31 increased 106.1 percent to $5.4 million versus $2.6 million.
Winmark Announces Board Changes
Winmark Corporation, the parent of Play It Again Sports, announced that Kirk A. MacKenzie has informed the company of his decision not to stand for re-election to the Winmark Board of Directors.
