SGB Update Sports & Fitness
Deckers Brands Blows Past Fiscal Q1 EPS Targets on Hoka Momentum
Earnings in the fiscal first quarter ended June 30 came in well ahead of analyst targets, boosted by a spike in gross margins and 22.1 percent sales growth. Hoka once again led top-line gains, which saw sales jump 29.7 percent. Ugg’s sales gained 14.0 percent.
Skechers Raises FY Outlook as Q2 Tops Guidance
Skechers U.S.A., Inc. raised its full-year outlook after reporting earnings in the fiscal second quarter ended June 30 came in slightly ahead of company guidance on DTC strength. Earnings in the quarter slipped 5.1 percent on a 7.2 percent revenue gain.
Boston Pickle Club Signs Lease for Second Location in Greater Boston
The 28,000-square-foot indoor club in Norwell will operate on a membership-based model. The club will also offer professional instruction catering to all ages and skill levels.
Asics To Raise $1.2 Billion In Secondary Stock Offering
The secondary offering will be divided into two parts—a Japanese secondary offering of 27.2 million shares and an International secondary offering of 46.8 million shares.
CPSC Recalls Camzimo Bicycle Helmets Due to Risk of Head Injury
The CPSC advises customers who purchased the helmets to “cut the straps and dispose of the bicycle helmets immediately. Do no sell or give them away these hazardous bicycle helmets.”
Strava Appoints Tech Vet as General Counsel
Daniel Li joins Strava as the platform accelerates its product velocity. Since the spring, Strava has welcomed Matt Salazar as chief product officer and Rob Terrell as chief technology officer.
Tour Edge Appoints Golf Industry Vet as President
Long-time golf industry leader Tim Clarke as president, effective August 5. Current President David Glod will become CEO. He remains the majority owner and chief golf club designer of the brand, which he founded in 1986.
Escalade Posts Q2 Sales and Profit Declines as Consumer Demand Contracts
Weak demand and channel inventory de-stocking, particularly in the indoor/outdoor games categories, was partly offset by growth in the company’s Stiga table tennis, Bear Archery and Brunswick Billiards brands.
Report: Over Half of U.S. Consumers Plan to Watch Olympics
Nike is the brand most associated with Team USA, with 64 percent of consumers associating Nike, an official outfitter of Team USA, with the Olympics, followed by Adidas at 39 percent, and Under Armour at 26 percent.
Nike to “Modernize” Tech Division; Hires Former Salesforce Exec as CIO
Cheryan Jacob, a former Salesforce, Inc. executive, was hired this month as CIO as part of an effort to “modernize” the active lifestyle company’s technology infrastructure.
Sacks Parente Golf Plans Reverse Split of Shares to Maintain Nasdaq Compliance
The reverse stock split is intended to increase the price per share of the company’s common stock to allow it to demonstrate compliance with the $1.00 minimum bid price requirement for continued listing on Nasdaq.
PickleRage to Open New Jersey Club
The 32,950-square-foot facility will open at the end of Q4 2024 in the East Gate Square Shopping Center in Moorestown, 11 miles east of Philadelphia.
Planet Fitness to Open Edmonds, WA Location
Ohana Growth Partners, one of the largest franchise divisions of Planet Fitness, will open the 22,200-square-foot center in October. The Edmonds club will be OGP’s 13th Planet Fitness location in Seattle.
Oofos Appoints Erin Flynn Head of Sales
Flynn is a 20-year veteran of the athletic footwear industry and reportedly spent the past several years working with running and outdoor brands, specialty retailers and industry organizations.
X-Golf Opens Club in Annapolis
Equipped with seven simulator bays (five standard and two private) able to accommodate up to six players per bay, golfers can choose to play from various courses worldwide, including Pebble Beach and St. Andrews, on a membership basis.
