SGB Update Sports & Fitness
Blink Fitness Receives Court Approval for Sale
The U.S. Bankruptcy Court has approved the sale of its corporate operations and New York and New Jersey locations to PureGym. On November 7, 2024, the Court also approved the sale of Blink’s Chicago, Houston and California locations to an affiliate of JTRE Holdings, LLC.
Callaway Revenues Beat Q3 Estimates Despite Flattish Sales from Topgolf and Equipment
The company posted a 2.7 percent year-over-year decrease in revenue, driven by an 11.1 percent decrease in the Active Lifestyle segment, and partially offset by 1.2 percent revenue growth at Topgolf and flat growth in Golf Equipment revenues.
Beachbody Narrows Net Loss Despite Revenue Decline as Model Pivot Moves Forward
The company said its Q3 results demonstrated the continued successful execution of the first phase of its Pivot turnaround plan, with significant improvements in adjusted EBITDA and positive free cash flow generation. Revenue fell over 20 percent year-over-year.
Skechers Readies Move to New European Distribution Center in 2028
The company will relocate its European distribution center to a 200,000-square-meter facility in Liège, Belgium to support the brand’s strategic expansion across Europe.
On Holding Continues Aggressive Growth But Higher Q3 Costs and EPS Miss Worry Street
On saw its highest gross profit margin since its IPO in September 2021, reaching 60.6 percent of net sales in Q3 2024, reportedly driven by growth in the DTC channel and a “continued disciplined approach to full-price sales.”
Nature’s Sunshine Products Taps Deckers CFO for Board of Directors
Since June 2018, Fasching has served as the CFO of Deckers Brands, which includes iconic brands such as Ugg, Hoka and Teva. Fasching has held other senior positions at Deckers since August 2011, including VP, strategy & investor relations and VP, strategic financial planning.
Fleet Feet Appoints New VP of Marketing and Digital
Jonathan Sipling brings over 20 years of experience to the position. Previously, he was Dish Wireless’s chief merchandising officer.
BJ’s Wholesale Club Promotes Two Senior Operations Leaders
Scott Schmadeke, SVP, field and fresh operations, has been named EVP and chief operations officer, effective immediately, and Krystyna Kostka, SVP of operations, has been named chief supply chain officer.
Von Maur Department Stores Opens First Pennsylvania Store in Pittsburgh
The retailer has opened its newest location at South Hills Village in the suburbs outside Pittsburgh, PA. The 118,000-square-foot store is the company’s first in Pennsylvania.
KemperSports Bolsters HQ with Regional Sales and Marketing Director
Jennifer Cushman joined KemperSports in 2021 as sales and marketing director at Buffalo Creek Golf Club and the Yacht Club at Chandlers, two KemperSports-managed facilities in Rockwall, TX.
Pvolve Signs First Studio Deal in Kentucky
the new studio location in Louisville, marks Pvolve’s first in Kentucky. The fitness franchise now boasts over 40 studios in development across the country.
NRF: Import Cargo Could See Surge Ahead of Potential Port Strike and Trump Tariffs
Import volumes at the nation’s major container ports could be higher than previously expected for the remainder of this year as retailers face another potential East Coast/Gulf Coast port strike and tariff increases planned by President-elect Donald Trump, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Xponential Fitness Posts Q3 Loss on Flat Sales
Xponential Fitness, Inc. posted a net loss of $18 million in the third quarter after litigation expenses, impairment charges and other acquisiton-related charges. North America system-wide sales grew by 21 percent but corporate revenue was flat as higher franchise and equipment revenues were largely offset by a decline in other service revenue.
Schoeller to Close Swiss Manufacturing Plant, 170 Employees To Lose Jobs
The company cited Switzerland’s high labor and energy costs, the strong Swiss franc, and poor market environment since the pandemic to cover production costs. However, the company will continue production of its high-tech textiles in Asia with no disruption.
NRF: Holiday Spending on Track for Steady Growth Amid ‘Mixed Signals’ on Economic Data
NRF Chief Economist, Jack Kleinhenz, reported in the November Issue of the NRF’s Monthly Economic Review, that it continues to expect steady sales growth for the winter holiday season despite contradictions in the latest economic indicators.
