SGB Update Sports & Fitness
Nike Crushes Q1 EPS Targets, Warns of Guidance Adjustment
Nike Inc. reported earnings for its first quarter handily topped Wall Street targets, but said it was postponing its upcoming Investor Day and indicated it “would address its approach to guidance” on its quarterly analyst call in light of the appointment of Nike veteran Elliott Hill as CEO. Sales in the quarter were down 10 percent with declines of 13 percent in direct and 8 percent in wholesale channels.
Pvolve Studio to Add Third Location in SFO Bay Area
Local entrepreneur Venetia Vonich, teamed up with friend and business partner Lupita Romero to expand the company’s reach in the San Francisco Bay area.
Nordstrom Rack to Open New Store in Massachusetts
The 25,000-square-foot Nordstrom Rack will open in the fall of 2025 in the The Landing at Hyannis. Nordstrom operates seven Nordstrom Rack stores in Massachusetts, generating over 900 jobs statewide.
Authentic Names Brand Partners Supporting Champion Brand
Authentic Brand Group announced that GearCo, BBC and AMG Companies will serve as its primary vendor partners supporting its just-closed acquisition the Champion brand.
Sports Licensing Company, Homage Apparel, Taps Into Celebrity Investors
The round kicked off with an initial investment from Ryan Reynolds’ venture firm, Maximum Effort, that was recently complemented by investments from Winnie Capital, led by former NFL star Jason Kelce, and 35Ventures, led by Kevin Durant and Rich Kleiman.
Rawlings Sporting Goods Sets CEO Transition Plan
Mike Zlaket, Rawlings’ current CEO, will transition to vice chairman of the company’s Board at the close of the year. Current company president Ron Ostrowski will add CEO to his duties, effective January 1, 2025.
DMR Bikes Hires North America Sales and Marketing Manager
Mike Flaherty will support the bike maker’s two North American distributors, BTi and QBP, along with LTP in Canada and a growing network of dealers stocking DMR Bikes products.
Dockworkers Now on Strike at East and Gulf Coast Ports
The strike spans from Maine to Texas and blocks everything from food to auto shipments across dozens of ports. Analysts have warned that this could cost the economy billions of dollars a day, threaten jobs and potentially stoke inflation.
Life Time Group Nets $65M on Two Sale-Leaseback Transactions
The latest transactions bring the company’s total gross proceeds from sale-leasebacks to approximately $213 million year-to-date.
Beachbody to Cut 33 Percent of Staff in New Omni-Channel Business Model
Current participants in Bodi’s Partner Network in the U.S. and Canada will transition to a new Affiliate Program. Bodi’s MLM Network will begin winding down and complete the process by January 1, 2025.
New Balance Opens New EMEA Headquarters
New Balance officially opened its new offices at A-Factorij in Amsterdam’s Schinkel District, near the Olympic Stadium, supporting the brand’s new EMEA headquarters,
Genesco Names Sandra Harris as New CFO
Sandra Harris was appointed senior vice president, finance and chief financial officer, effective October 7, 2024. She succeeds Thomas A. George, whose planned retirement will take effect on December 12, 2024, to ensure an orderly transition. She joins the company with a strong working background as CFO and in finance leadership roles, including at VF Corp.
Big Peach Running Co. to Open Store in Atlanta
Big Peach Running Co. plans to open its first store in Atlanta and 13th overall. The store will be owned in a partnership with former music industry executive Ric Ross and his wife, Dawn.
JCPenney to Hire Over 10,000 Employees for the Holiday Season
The company is hosting a national hiring event, October 16-18, in stores and online for the 2024 holiday season, with plans to hire over 10,000 seasonal employees.
HanesBrands Completes Sale of Champion Business to Authentic
HanesBrands, Inc. completed the sale of the intellectual property and certain operating assets of its global Champion business to Authentic Brands Group.
