SGB Update Sports & Fitness
Equinox Fitness Appoints President
Marc Mastronardi assumes the position of president on August 12 and report to Harvey Spevak, executive chairman and managing partner of Equinox Group. He has 25 years of extensive experience in retail, having held a broad range of leadership positions at Macy’s, Inc. where, most recently, he was the executive vice president and chief stores officer
Fox Factory Specialty Gets Marucci Lift to Offset Q2 Decline in Bikes
The increase in Specialty Sports Group sales was primarily related to the inclusion of $41.6 million in net sales from Marucci, which the company acquired in 2023, partially offset by a $22.9 million reduction in bike sales.
Chipply Beefs Up Sales Team
Meghan Brazzelle was hired as a senior territory manager and Patrick Tolivar as a territory sales rep. Brazzelle and Tolivar will report to Grace Schettler, SVP of sales for Chipply, the online store software supplier for team dealers.
NSGA Names Hayley Fansler Business Development Director
The National Sporting Goods Association (NSGA) promoted Hayley Fansler to business development director. Fansler joined NSGA in March 2018 as business development manager.
Ironman Group Promotes Michelle Pepper to Managing Director of Oceania
In her new role, Pepper will be responsible for overseeing all aspects of the Oceania business for The Ironman Group, leading the four Oceania offices, Melbourne, Sydney and Noosa in Australia and Auckland in New Zealand, and the more than 80 full-time employees.
Yue Yuen Forecasts Robust Earnings Gains In First Half
Yue Yuen reported that net income will surge in the range of 115 percent to 120 percent in the first half, to $83.6 million, attributable to a pickup in footwear manufacturing.
Life Time Holdings Q2 Profit Surge on High-Teens Revenue Growth
Second quarter revenue increased 18.9 percent year-over-year to $667.8 million, which was attributed to continued growth in membership dues and in-center revenue.
Gildan Activewear’s Q2 Sales Improve 3 Percent On Activewear Boost
Gildan Activewear, Inc. reported sales rose 3 percent in the second quarter as 6 percent growth in its activewear segment offset declines in hosiery and underwear due to the phase-out of its sock license with Under Armour. Adjusted diluted EPS rose 17 percent year-over-year.
Life Time Promotes Erik Weaver to EVP and Chief Financial Officer
Weaver joined Life Time in 2004 and has served in increasing roles of responsibility, including as the company’s assistant controller from 2016 to 2018, as VP and controller from 2018 to April 2022, as senior vice president and controller, and as principal accounting officer, since April 2022.
BOA, Primaloft and Lugano Lead Gains in CODI’s Branded Consumer Group
Compass Diversified (CODI) saw Q2 sales grow 11 percent on a pro-forma basis to $373.5 million in its Consumer Brands segment, led by gains by BOA, Primaloft and Lugano. The segment also includes 5.11 and Velocity Outdoor.
Shot Scope Secures $8.5M in Series B Funding, Poised for Global Expansion
Led by Guinness Ventures, which invested $4 million, the company has raised the capital to continue its the company’s global expansion and investment in product development, specialist resources and brand marketing.
Pickleball Kingdom Expanding to Spokane, WA
The new location will be owned and operated by Shane Martin and Mei-Lynne Statler, two passionate advocates for the sport.
Garmin Beats Q2 Plan with Boost from Fitness and Marine Segments
Garmin sales grew 14 percent in the quarter to $1.51 billion from $1.32 billion a year ago, supported by gains of 28 percent in its Fitness segment and 26 percent at its Marine segment.
Report: U.S. Consumer Confidence Shows Slight Uptick in July
Data released July 30, showed that The Conference Board’s gauge for July increased to 100.3 from a downwardly revised 97.8 in June. Based on consumers’ assessment of today’s business and labor market conditions, The Conference Board’s Present Situation Index declined to 133.6 from 135.3 last month.
EXEC: Big 5 SG Suspends Dividend as Q2 Comps Fall 10 Percent and Losses Widen
Second quarter results were said to be consistent with the retailer’s guidance range, as “customers continue to feel the ongoing and cumulative impact of inflationary pressures on their discretionary spending.”
