SGB Update Sports & Fitness
Sport Alliance Appoints VP of Sales International
Erwin Kost and his team will be responsible for developing the enterprise business with a focus on English-speaking countries and customers. The appointment comes as the gym management software provider secured $100 million of new funding from PSG Equity to drive growth.
Dick’s SG Opens Next-Gen Store in Selinsgrove, PA
Dick’s Sporting Goods opened a next-generation store, which is a larger store format than a regular Dick’s store, in the Monroe Marketplace in Selinsgrove, PA.
REI Co-op Plans Lower Volume of Store Openings for 2025
REI Co-op plans to open six locations in 2025, with three new stores in California, as well as Amherst, NY; Durango, CO; and Lynnwood, WA. The openings mark a moderation in new store growth from the 10 stores scheduled to open in 2024.
Under Armour Retains Oberalp for Swiss Distribution
Since becoming its Italian distributor, Under Armour’s sales in Italy have expanded from €8 million to €50 million ($54 mm). Over the last years, the South Tyrolean group has been growing Under Armour’s business in the wholesale channel.
Dick’s SG Sets Store Opening in Houston Suburbs
Dick’s Sporting Goods announced plans to open a Dick’s store at Atascocita Commons in Humble, TX in early November. Humble is located in the Houston metro area.
SFIA Elects Rawlings’ Mike Zlaket as Board Chairman
Zlaket is the CEO and member of the Board of Directors for Rawlings Sporting Goods. As chairman of the Sports & Fitness Industry Association (SFIA) Board of Directors, his one-year term begins effective immediately.
Audubon International Adds Two Board Members from Golf Industry
Rick Lohman, senior director of corporate accounts at The Toro Company, and Ruth Engle, EVP and CFO at Troon Golf, have been added as at-large board members.
Nike Expected to Face Competition for Next NFL Uniform Contract
The NFL uniform and apparel rights, which Nike has controlled since 2012, are up for renewal for the 2028 season. Bidding is “open and active,” with “several” companies vying for the contract. Nike took over the NFL contract from Reebok in 2012 and renewed it in 2018.
Carbitex Closes Funding Round for Next Growth Phase
The company closed on a new funding round to restructure the company for international expansion. Longtime investors, including Executive Chairman Michael Marks, infused most of the capital into the company.
Academy Sports to Open Location in Meridian, MS
The new store will open on November 11, in time to make the Holiday shopping season. The 55,000-square-foot space at the Meridian Crossroads shopping center will be the retailer’s ninth store in Mississippi.
Fanatics Commerce’s Debt Ratings Lowered on Weak Q2 Results
Moody’s Ratings downgraded Fanatics Commerce’s debt ratings as second-quarter results for the online retailer of licensed sports merchandise showed EBITDA and free cash flow remained negative.
Survey: SMB Retailers Optimistic on In-Store Holiday Shopping
The 5th Annual State of Small Business Survey by Verizon Business revealed that 52 percent of small and medium-sized businesses and retailers are gearing up for an in-store holiday season, an increase of 13 points from 2023.
ICSC Holiday Survey Sees Consumers Spending the Most Since 2018
ICSC also released its forecast for the Holiday selling season based on results gathered in its Annual Holiday Shopping Intentions Survey. It indicates that retail sales are expected to grow from 3.0 percent to 3.5 percent.
The Picklr to Expand its Pickleball Format into Canada
The Picklr reported YTD that it has sold “over 390 locations in 42 states, with plans to open at least 30 new clubs in 2024 and an additional 70 in 2025.”
Needham Hires Tom Nikic as Apparel and Footwear Analyst
Needham & Co. has hired Tom Nikic, a veteran analyst in the active lifestyle space, as managing director, equity research, apparel & footwear.
