SGB Update Sports & Fitness
Peloton Returns to Modest Growth in Fiscal Q4, Dramatically Narrows Net Loss
The net loss for the fourth quarter was $30 million, an improvement of $211 million year-over-year and $137 million sequentially quarter-over-quarter. Total revenue in the fourth quarter was $644 million, up 0.2 percent year-over-year.
First Topgolf in Iowa to Open in Des Moines
The two-level venue will open on September 6. It sits within the West Des Moines city limits.
BJ’s Wholesale Club Profits Expand in Q2 as Comps Increase 3.1 Percent
Excluding the impact of gas, comparable club sales increased by 2.4 percent in the second quarter compared to the fiscal 2023 Q2 period.
Target Corp. Ups Full Year EPS Guide After Retailer Returns to Growth in Q2
Based on strong profit performance in the front half of the year, the company said it now expects full-year GAAP and Adjusted EPS of $9.00 to $9.70 per share, up from the prior range of $8.60 to $9.60 per share.
Foot Locker to Re-Open 34th Street Store in NYC with New Concept
The Foot Locker ‘Home Court’ concept was developed in partnership with Nike and Jordan Brand and also features brand partners, including Adidas, Puma, New Balance, Under Armour, and more.
TJ Maxx Parent Adds Four Doors to Sierra Count, Invests in GCC Retail Brand
TJX is taking a 35 percent stake in Brands for Less, which is currently located in the Gulf Cooperation Council (GCC) area. Based in Dubai, it is the region’s only major off-price branded apparel, toys, and home fashions retailer.
Macy’s, Inc. Swings to Q2 Profit But Lowers Guidance on Consumer Caution
Macy’s, Inc. reported it updated its annual outlook to reflect a more discriminating consumer and heightened promotional environment relative to its prior expectations.
The F45 Group Opens First FS8 Studio at MCAS Miramar
The company’s first on-base FS8 Studio will open on Friday, August 23, at Marine Corps Air Station (MCAS) in Miramar, CA. The new studio will join the company’s existing on-base F45 Training studio.
Fleet Feet Adds Key Execs in Store Support, Supply Chain and Business Ops
Amy Diebler joins the company’s store support team as chief financial officer, Mary-Chelsea Banister joins as vice president of supply chain transformation, and Kevin Staudt joins Fleet Feet as vice president of business operations.
Unified Commerce Group Acquires Greats Brand, Invests in Retailer Böhme
Greats, founded in 2014 in Brooklyn, NY, is known for its direct-to-consumer footwear model. It now becomes the third brand in UCG’s portfolio. The company also reported investing in Utah-based womenswear retailer Böhme, founded in 2006 by Vivien and Fernanda Böhme.
President of the Fashion Institute of Technology to Depart
FIT President Dr. Joyce Brown will step down at the end of the 2024/25 academic school year, concluding nearly 26 years of service to the institution.
ABC Fitness Appoints Chief Marketing Officer
Maggie Lower joins the company executive leadership team reporting to CEO Bill Davis. She leads a staff of over 40 marketers “dedicated to growth and brand-building across ABC Fitness’ platforms.”
Pickleball Kingdom Wisconsin Franchisees Adding Third Location
This will be the third PK club that franchisees Greg Straub and Doug Reigle are bringing to the Badger State, with the other two coming to Menomonee Falls and Madison.
Amer Sports Raises FY Guide as Wilson Returns to Growth, Salomon and Arc’teryx Grow DD
The parent company of the Arc’teryx, Salomon, and Wilson Sports businesses, among others, raised its full-year sales and earnings guidance based on its strong Q2 results. The Wilson brand returned to growth, Salomon footwear posted DD growth and Arc’teryx continued its 30 percent-plus growth.
Ashworth Golf Appoints Andy Bell as CEO
Bell will focus on elevating the brand’s market share and bolstering product lines and innovation to meet the evolving needs of golfers.
