SGB Update Sports & Fitness
Academy Sports’ Debt Ratings Upgraded
S&P Global Ratings upgraded its debt ratings on Academy Sports + Outdoors, Inc. as the sporting goods chain “continues to post strong gains in sales and EBITDA resulting in better leverage.”
Amer Sports’ Debt Upgraded On Faster-Than-Expected Deleveraging
S&P Global Ratings raised its debt ratings on Amer Sports on its expectations that the sporting goods giant would report a “resilient” operating performance in 2021 with estimated €2.5 billion revenue, up 7 percent to 8 percent above pre-pandemic levels.
Nautilus Sales Drop 22 Percent In December Quarter
Nautilus, Inc. posted a net loss in the third quarter ended December 31 as sales fell 21.7 percent excluding sales related to the sold Octane brand. Sales were up 63 percent against the 2019 third quarter.
Recall: Escalade Tennis Tables
About 5,200 tennis tables from Escalade Sports, sold exclusively at Target, are being recalled.
Congested U.S. Ports Should See Slight Reprieve In First Half Of 2022
Imports at the nation’s congested container ports are expected to grow modestly during the first half of 2022, but continued high volume will keep up the pressure that built as the economy bounced back from the pandemic last year, according to the monthly Global Port Tracker report released by the National Retail Federation.
Enviolo Acquired By PE Firm
London-based private equity group Inflexion has signed a definitive agreement to acquire Enviolo Inc., the maker of stepless gear drivetrain components used primarily on e-bikes.
Shimano’s Sales Climb 45 Percent In 2021
Shimano Inc. reported sales in 2021 increased 44.6 percent from the previous year with operating income climbing 79 percent.
ASB Sports Rebrands As Game One
ASB Sports, the Holland, OH-based team dealer, announced a rebrand under the name, Game One, that will consolidate its eight-owned dealers.
Slinger Completes Gameface.AI Acquisition
Slinger announced the finalization of its acquisition of Gameface.AI, an artificial intelligence technology provider for sports.
Mizuno Posts Record Profits In Nine Months
Mizuno Corp. said its operating profits reached their highest levels in the nine months through December 31 since quarterly disclosure started in FY08. Sales rose 17.0 percent in the period, led by the Americas and EMEA.
Delta Apparel Reports Record First Quarter Results
Delta Apparel, Inc. reported earnings more than tripled in the first quarter ended January 1 as sales grew 17 percent. Sales increased 16 percent in the Delta Group segment and 24 percent at Salt Life.
Peloton’s John Foley To Step Down As CEO
Peloton CEO John Foley will step down as CEO, moving to the role of executive chair, and be replaced by Barry McCarthy. The embattled connected-fitness cycling giant also cut revenue guidance to as much as $3.8 billion, down from $4.8 billion, amid a major restructuring and revealed plans to cut 2,800 jobs or about 20 percent of its corporate workforce.
Descente Revenues Climb 15 Percent In Nine Months
Descente reported an operating profit against a loss in the nine months through December 31 on a 15.1 perfect revenue gain.
Golftec Opens Club Fitting Center In Singapore
Golftec announced its continued international expansion by opening an instruction and club fitting center in Singapore.
Chamois Butt’r Expands Management Team
Chamois Butt’r announced it is growing its Kansas City office with Aaron Apel, who joins its operations team reporting directly to company COO Curt Shelman.
