SGB Update Sports & Fitness
Panelists Announced For Women’s Networking Event at Running USA Conference
The She.is.beautiful and Running USA teams announced a panel of leaders who will be part of the Women’s Networking Event at the 2020 Industry Conference presented by Race Roster. The line-up includes executives at Hoka One One, Twin Cities in Motion, Race Roster and Harlem Run.
Moody’s Downgrades 24 Hour Fitness
The downgrade follows the weaker than expected EBITDA forecasts for the full year 2019 and 2020 as a result of a decrease in new member sales conversion and higher attrition rates. These factors contributed to a sizable decline in membership count and an acceleration in comparable club revenue declines in the third quarter.
Vicis To Enter Receivership
Vicis Inc., the high-tech football helmet startup, announced that its board of directors voted to place the company into receivership.
Weav Music Raises Series A Funding
Weav Music, the audio innovation lab helmed by Google Maps co-founder Lars Rasmussen and marketing visionary Elomida Visviki, announced a $5 million Series A financing round. The round was led by King River Capital; global fitness leader Peloton also participated, along with previous investors Passion Capital and Rivet Ventures.
Race-Mania Summit And Expo Returns To Boston On March 15, 2020
Sun Multisport Events announced registration is now open for the 2020 Race-Mania Summit & Expo taking place on Sunday, March 15, 2020 at the Boston University Fit Rec Center in Boston, MA. Designed to educate, equip and inspire endurance athletes on the eve of a new season, Race-Mania features top speakers, informational and inspirational seminars, hands-on clinics and workshops; competitive events; and a vendor expo with 85+ sponsors and exhibitors.
Garmin To Begin Second Phase Of Headquarter’s Expansion
Garmin Ltd. plans to start the second phase of a $200 million expansion project at its Olathe, KS headquarters. second phase will convert its previous warehouse and manufacturing centers into a 544,000-square-foot aviation business center, with 52,000 square feet for a fitness center and dining space.
Nike’s Q2 Easily Tops Wall Street’s Targets
Nike Inc. reported earnings in the second quarter ended November 30 rose 31.6 percent and climbed well ahead of Wall Street’s consensus estimate. Sales jumped 13 percent on a currency-neutral basis, led by robust gains in China and Europe. North America delivered a mid-single-digit sales gain.
Rave Sports Appoints VP Of Sales
Rave Sports, based in St. Paul, MN, appointed Jason Borg as vice president of sales. Previously, Borg was national sales manager for Escalade Sports.
SquadLocker Hires Senior Account Executive
SquadLocker, a leading uniform and custom team gear provider, hired senior account executive Karen Andreozzi Silveira to lead their School Uniform Initiative for the New England region.
Michael Avenatti Pleads Not Guilty In Nike Extortion Case
Michael Avenatti, the celebrity lawyer, pled “not guilty” to an indictment accusing him of trying to extort as much as $25 million from Nike Inc.
TRX Obtains Court Order Validating Patents For Suspension Trainer
TRX, the developer of functional training equipment and training content, said a final judgment and order has been entered in the Northern District of Illinois validating the enforceability of three patents and three trademarks of Fitness Anywhere LLC (TRX).
Vicis Faces Credit Crunch
Vicis, the high-tech football helmet startup, is running out of money and may shut down operations, according to The New York Times.
Hype Sports Innovation Partners With Jordi Cruyff
Hype Sports Innovation, the sports innovation platform based in London, said Jordi Cruyff, manager of the Chinese Superleague club, Chongqing Lifan, has joined its investment arm, Hype Capital, as an investor and advisory board member.
PlayOn! Sports Raises $25 Million In Series B Funding
PlayOn! Sports, which operates the NFHS Network, has raised Series B funding of $25 million led by venture investment firm BIP Capital. New investors in the funding round include Jeff Vinik, Teall Capital, and Crossover.
SFIA Elects Dan Arment As New Chairman
Dan Arment, president and CEO of Riddell & BRG Sports, has been elected as the new Sports & Fitness Industry Association (SFIA) chairman of the board for a one-year term.
