SGB Update Sports & Fitness
Gap Inc. Outlines Strategic Plan For Store Re-Openings
Gap Inc. said it’s preparing to re-open up to 800 of its Old Navy, Athleta, Gap, Banana Republic, Janie and Jack and Intermix stores before the end of the month, starting with a small selection of locations in Texas this weekend. The company’s top priority remains the health and safety of its employees, customers and communities.
NPD: Weekly Retail Spending Up 7 Percent Sequentially
Retail spending rose 7 percent for the week ending April 25 compared to the prior week, according to The NPD Group. Sales were flat year-over-year during the same period — the first time sales didn’t decline since early March.
Safilo Group’s Q1 Dragged Down By COVID-19 Impact
Safilo Group S.p.A., the parent of Smith Optics, reported earnings eroded sharply and sales fell 11.5 percent at constant exchange rates in the wake of the coronavirus outbreak.
Fitbit Announces Large-Scale Study To Identify Atrial Fibrillation
Fitbit launched the Fitbit Heart Study, its first large-scale, virtual study to validate the use of its wearable technology to identify episodes of irregular heart rhythm suggestive of atrial fibrillation (AFib)
SFIA’s State of the Industry Report Shows 3.9 Percent Growth In 2019
The sports and fitness industry performed well across multiple sectors in 2019, according to the Sports & Fitness Industry Association’s annual State of the Industry Report. In 2019, the industry grew 3.9 percent in one year, representing the largest annual growth in 17 years.
Nike To Donate Sneakers To Frontline Healthcare Workers
In recognition of frontline healthcare workers combating COVID-19 around the world, Nike will partner with nonprofit Good360 in the U.S. and local organizations across Europe to donate more than 140,000 pieces of footwear, apparel and equipment globally.
Wolverine Worldwide Announces Offering Of Senior Notes
Wolverine World Wide Inc. announced an offering $300 million aggregate principal amount of senior notes due 2025. Proceeds will be used to repay borrowings under its revolving credit facility.
Umbro To Sponsor England Rugby
Umbro will replace Canterbury as the kit supplier for England’s rugby team on September 1 under a four-year deal.
PLAY Sports Coalition Secures Congressional Support
Two weeks after initial letters backed by a united front of youth and local sports leaders were delivered to Congressional leadership in the United States Senate and House of Representatives, the bipartisan co-chairs of the Congressional Caucus on Youth Sports, Rep. Ron Kind (D-WI), Rep. Rodney Davis (R-IL), Rep. Marc Veasey (D-TX), and Rep. Kelly Armstrong (R-ND), are the first to join the PLAY Sports Coalition Member Sign-On Letter.
Planet Fitness’ Q1 Revenues Sink 14.5 Percent
Planet Fitness reported net earnings tumbled 67.2 percent in the first quarter as sales fell 14.5 percent. The fitness chain outlined many steps it has taken to mitigate the financial impact of COVID-19 and preserve liquidity .
TIA Survey Highlights Challenges For Tennis Retailers
According to a survey from the TIA (Tennis Industry Association) of professional and specialty tennis retailers in the United States, steep sales declines were expected for March and April. Nearly 90 percent of the respondents’ stores were closed when the survey was taken.
Road Runner Sports To Host A Virtual Race
Road Runner Sports has partnered with Stride, the boutique fitness franchise that offers treadmill-based cardio and strength workouts, to host a national virtual race on June 3, which is Global Running Day.
Embody Secures Funding
Embody, Inc., a privately-held medical device company focused on soft tissue repair, closed a $9.3 million Series A funding round. The financing will support the commercial launch of Tapestry, its next-generation soft-tissue repair technology.
CODI Sets Senior Unsecured Notes Offering
Compass Diversified Holdings (CODI) announced that the company intends to commence a private add-on offering of $200 million aggregate principal amount of the company’s 8.0 percent senior notes due 2026.
Disabled Sports Merges With Adaptive Sports To Become Move United
Disabled Sports USA and Adaptive Sports USA are merging to become Move United. This new organization will lead the movement to fully include people with disabilities in American society, using sport to challenge perceptions and redefine ability for youth and adults with disabilities.
