SGB Update Sports & Fitness

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.

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.

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.