SGB Update Sports & Fitness
Iconix Inks Deal To Sell Umbro China
Iconix Brand Group Inc. reported in a regulatory filing that it entered an agreement to sell Umbro China Limited to HK Qiaodan Investment Limited for $62.5 million.
Golf Rounds Played Slide In March
Golf rounds played for March 2020 fell 8.5 percent nationally compared to a year ago, according to Golf Datatech. Double-digit increases in the New England, East North Central and Mid Atlantic regions were offset by a steep decline in the Pacific region and smaller declines in the South Central and South Atlantic.
HanesBrands’ Q1 Sales Drop 17 Percent
HanesBrands Inc. the parent of Hanes and Champion, reported earnings tumbled 77.3 percent in the first quarter as sales declined 17.0 percent. The company estimated that COVID-19 reduced GAAP and adjusted results by $181 million in net sales, $86 million in operating profit, and 20 cents per share in EPS.
Gildan Activewear Posts Q1 Loss After Charges
Gildan Activewear reported a net loss of $99.3 million, or 50 cents per share, in the first quarter after after-tax charges of approximately $110 million, or 56 cents per share. Excluding charges, adjusted earnings were down 65.9 percent as sales dropped 26.4 percent.
NCAA Outlines Plan To Let Athletes Make Endorsement Deals
The NCAA’s Board of Governors announced that it had approved recommendations under which student-athletes could receive income for third-party endorsements, as well as social media opportunities, other business ventures and personal appearances that fall within certain guidelines.
Soccer Parents See Soccer Returning This Summer
A survey of youth soccer parents from Soccer.com, the nation’s leading soccer-specialty retailer, finds 81 percent expect youth soccer to resume in their area by August 2020. Of those, 61 percent believe youth soccer will resume in their area by July 2020.
New Study Finds Exercise Helps Reduce Chronic Health Conditions
A study from Blue Cross Blue Shield Association (BCBSA) found individuals who consistently exercise see an 8 percent reduction in serious chronic health conditions like diabetes, a high-risk condition identified by the CDC that can lead to more serious outcomes from COVID-19.
Garmin’s Revenues Jump Double-Digits In Q1
Garmin Ltd. reported a 12 percent increase in sales and strong operating income growth for the first quarter while withdrawing its fiscal 2020 guidance due to COVID-19 economic uncertainty. Segment sales in the quarter grew 24 percent in fitness, 22 percent in marine and 14 percent in outdoor.
NPD: Leisure Footwear Sales Slump 15 Percent In First Quarter
U.S. sales of leisure footwear, which includes many of the industry’s athletic-lifestyle and outdoor categories, were down 15 percent in the first quarter, according to the NPD Group. Fashion footwear tumbled 24 percent and the smaller sport-specific performance footwear category declined 19 percent.
MLB Discussing Plan To Start Season In Home Cities In June
MLB is considering starting its season in late June or early July with teams playing in their home ballparks albeit with no fans., according to a USA Today report.
Shimano’s Revenues Slump 12 Percent In Q1
Shimano Inc. reported operating income decreased 22.3 percent in the first quarter as sales fell 12.3 percent.
Spartan Offers 1 Million Free Event Entries To Support The Fitness Industry
Spartan, known for its obstacle course race (OCR) and endurance races, will offer up to one million free event entries to members of fitness facilities who continue to pay their dues, in an effort to support the industry that has been devastated by the COVID-19 pandemic.
American Pacific Acquires SaltStick
American Pacific Group has purchased SaltStick, a Malibu, CA-based provider of electrolyte supplement products designed for high-endurance athletes. American Pacific made the acquisition through its Roadrunner Holdings platform, which it will use to target other sports nutrition brands and related products.
Inaugural Rock ‘n’ Roll Virtual Running Series Race Draws 11,000
A total of more than 11,000 people from 80 nations and all 50 states took part in the Rock ‘n’ Roll VR1, the inaugural event in the Rock ‘n’ Roll Virtual Running (VR) Series held last weekend. Rock ‘n’ Roll VR1 consisted of a 5K with participants having the ability to compete anywhere, indoors or outdoors.
Concept One Disputes Charges In Northwest Company Bankruptcy
Sam Hafif, CEO, Concept One Accessories, in a statement denied his company made any “inaccurate representations” prior to the 2017 sale of its team sports bag business to The Northwest Company (TNC). The charge against Concept One was included in court papers related to TNC’s bankruptcy filing.
