SGB Update Sports & Fitness
JD Sports Suspends Dividend, Cuts Salaries
JD Sports said it will suspend its dividend, reduce the salaries of its senior management team and defer bonuses in order to support liquidity as a precautionary measure amid the COVID-19 pandemic.
TrueCoach Acquired By TSG
TrueCoach, the health and fitness software provider, has been acquired by TSG, an Advent portfolio company. TrueCoach becomes part of TSG, following the acquisition of boutique fitness software providers Mariana Tek, Triib, Zingfit, and BrandBot
Adidas’ Q1 Revenues Drop 19 Percent
Adidas AG reported first-quarter earnings tumbled 97 percent. Sales slumped 19 percent on a currency-neutral basis. Adidas also warned the second-quarter results would decline to a greater degree.
Nearly 50 NHL Players To Participate In NHL Player Gaming Challenge
In coordination with ESL Gaming, the National Hockey League (NHL) announced the first-ever NHL Player Gaming Challenge presented by Honda, the NHL’s Official Automotive Partner, featuring NHL players representing all 31 clubs.
Peloton Holds Largest Class Ever
Peloton, on April 22, held its largest class ever. More than 23,000 people tuned in for more than 10 minutes each to a live workout
NBA Opening Some Practice Facilities
The NBA is reportedly planning to re-open a number of team practice-facilities.
Creedmoor Sports Appoints Bill Gravatt As Managing Director
Creedmoor Sports, serving the precision rifle shooting community for more than 40 years, hired Bill Gravatt as managing director. He was most recently president of Capstone Precision Group (Berger Bullets).
Walmart Appoints New Marketing Chief
Walmart has hired former Target senior vice president of marketing William White as its chief marketing officer, according to an internal company memo.
New Balance Wins Copyright Lawsuit In China
New Balance won a copyright lawsuit against a Chinese firm in a lengthy battle. The Shanghai Pudong People’s Court ruled that New Barlun was guilty of unfairly using an “N” symbol that closely resembles New Balance’s signature logo and could mislead consumers.
Four NHL Cities Could Host Summer Restart
In an interview with Sportsnet, NHL Commissioner Gary Bettman confirmed that a four-arena plan is being discussed as part of a return of the league.
RRCA Launches Survey To Understand Attitudes On Return To Group/Event Running
The Road Runners Club of America (RRCA) has launched a nationwide survey to learn how the COVID-19 pandemic has affected participation in running events as well as locally organized group runs and training programs.
RunSignup Releases Looking Forward Guidelines For Races
RunSignup has released a working draft of Looking Forward Guidelines for Races. This living document was created with input from dozens of race directors, timers, governing bodies, and other industry partners. It is intended to provide ideas for a path forward for races when coronavirus restrictions are lifted.
Skechers’ Q1 Profits Slump On Pandemic’s Spread
Skechers USA Inc. reported sales slid 2.7 percent in the first quarter as COVID-19 began impacting its China business in February and spread to much of the rest of its markets in March. Earnings on an adjusted basis were down 45.1 percent. On the positive side, Skechers noted that its Chinese business is recovering and online sales are skyrocketing.
Target’s Q1 Earnings Impacted By COVID-Related Costs
Target Corp. said quarter-to-date, total company comparable sales have grown more than 7 percent, but warned that a number of factors will reduce first-quarter profitability. These include investments in pay and benefits to support team members during the COVID-19 crisis and a shift in category mix towards lower-margin categories.
Houghton Signs New Apparel Deal With Adidas
Houghton College, in upstate New York, has entered into an agreement with Adidas and ADPRO Sports of Buffalo that makes Adidas the official supplier of apparel and uniforms for Highlander athletics teams.
