SGB Update Sports & Fitness
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.”
TruGolf Links Inks First Regional Development Franchise Deal
The deal with Central New Jersey entrepreneur Nicholas “Nick” Reimondo spans from Bucks County, PA, into Central and Northern New Jersey. The agreement includes the rights to open 40 locations.
PickleRage Hires New VP of Franchise Development
The company added Eric O’Connor to its leadership team as VP of franchise development in an effort to strengthen the brand’s expansion efforts and streamline systems for franchisees.
JD Sports Warehouse Workers in England Face Job Cuts
“Around 200 workers” are impacted, as one staff member said that the consultation period should be concluded by September 6. JD Sports’ nearby distribution center in Rochdale (Kingsway), England, is not affected.
Rip-It Sports Hires First Chief Marketing Officer
Amy Craven was formerly the director of brand and global advertising for American Airlines. Her appointment follows Janelle Anderson’s recent naming as Rip-It Sports’ new CEO in April.
Brooks Running Shares Q2 Performance Metrics
Double-digit growth in its Wholesale and DTC channels drove a 15 percent year-over-year increase compared to the 2023 Q2 period.
Brooks Running Appoints New President & COO and New EMEA Chief
Brooks Running promoted Matt Dodge to president and chief operating officer, effective August 1, and hired Josh Vaughan, former EMEA general manager for Icebreaker and Smartwool, to fill Dodge’s former role in Europe.
Onelife Fitness to Open First North Carolina Club in 2025
The $10 million sports club will be the company’s first in the state. A growing organization, Onelife Fitness operates 55 locations throughout Virginia, West Virginia, Maryland, Washington, D.C., and Georgia.
Scott USA Appoints Chief Operating Officer
In his new role, Jake Dudek will oversee teams across finance, operations and e-commerce, driving commercial strategy and operations for Scott’s portfolio of sporting equipment brands in the USA.
