SGB Update Sports & Fitness
Under Armour Posts Q2 Loss, Lowers Outlook For North America
Under Armour Inc. reported a loss of $17 million in the second quarter on modest revenue growth. The loss came in just ahead of Wall Street’s targets while sales were slightly below. Under Armour maintained its guidance for EPS and top-line growth for the year but raised expectations for operating profit growth and reduced growth targets in North America.
Shimano Lowers Outlook As First-Half Earnings Slip
Shimano Inc. reported net earnings slid 10.6 percent in the six months ended July 29 as sales grew 4.1 percent. The Japanese-based firm slightly lowered its guidance for the year.
USA Basketball Unveils Expanded Women’s National Team Program
With one year until the opening tip of the 2020 Olympic women’s basketball tournament, USA Basketball unveiled a collaborative and expanded USA Women’s National Team program and training plan that will benefit the growth of women’s basketball across the nation and has the support of the WNBA and, most importantly, the backing of the members of the USA National Team.
Puma Partners With Manchester City Manager Pep Guardiola
Puma announced a new long-term partnership with Manchester City FC Manager Pep Guardiola. This individual agreement follows the launch of Puma first Manchester City product collection, and underlines both parties commitment to elevate the partnership beyond a traditional sports sponsorship model.
Title Nine Movers And Makers Pitchfest Announces 2019 Finalists
Title Nine, the women’s activewear chain, announced nine women chosen as finalists in its second annual Movers and Makers Pitchfest. The start-up brands they represent include Wild Rye, Kaden Apparel, Sunia Yoga, Mana Threads, Corbeaux Clothing, Anowi Surfwear, Bloom Bras, Em & El Organics and Heroclip.
Sports Direct Sees Annual Sales Dip Excluding Acquisitions
Sports Direct reported revenue increased 10.2 percent in its fiscal year ended April 28, but were down 1.9 percent excluding acquisitions and on a currency-neutral basis.
Orangetheory Finalizes Expansion Into All 50 States
Orangetheory Fitness announced the expansion of its national footprint into the 50th state, Wyoming. The new studio will be coming to Jackson Hole.
New Balance Makes Two Major Climate Commitments
New Balance Athletics, Inc. announced it has made two major climate commitments: joining RE100 and signing the UN Fashion Industry Charter for Climate Action. The announcement comes as the company marks a key milestone by generating a total of more than one million kilowatt hours in solar energy at its Flimby, England footwear manufacturing facility.
Former Adidas America’s CEO To Lead Taco Bell
Yum! Brands Inc. announced that Mark King, former president of Adidas Group North America, will join the company as Taco Bell Division chief executive officer. Said King in a statement, “The courage, creativity, culture and potential of Taco Bell make it the only brand I would become part of at this point in my career.”
Strava Welcomes New CFO And CTO
Strava, the activity tracking app, hired Christine Park as chief financial officer, and Yandong Liu as chief technology officer.
Li Ning Signs Potential 2020 NBA Lottery Pick To Endorsement Deal
Li Ning, the Chinese sporting goods giant, signed RJ Hampton, a projected lottery selection in the 2020 NBA Draft, to an endorsement deal, according to ESPN. The retired Dwyane Wade in 2018 inked a lifetime deal with the brand. C.J. McCollum is Li Ning’s most prominent active player.
Deckers Brands Q1 Powered By Big Gains At Hoka One One
Deckers Brands raised its outlook for the year after reporting a slightly lower year-over-year loss in the first quarter ended June 30 on a 10.5 percent revenue gain. Hoka led the way, with a 67 percent sales hike. Ugg’s sales grew 1.5 percent.
Sports Team Funding App FlipGive Secures Investors
Toronto-based sports team funding app FlipGive has secured $5 million in a Series A financing that will help FlipGive continue to accelerate how youth sports, member organizations and clubs fundraise.
Kitsbow Appoints VP Of Product And Design
Kitsbow, maker of premium cycling clothing and accessories, announced the addition of Jim Gingrich to the Kitsbow board of directors as well as the promotion of Tim Clark to vice president of product and design.
Chattanooga’s Echelon Fitness Secures Investment
Echelon Fitness, a specialist in indoor cycling technology, received an investment from North Castle Partners. The growth capital infusion from North Castle Partners will bring Echelon’s total valuation to over $100 million.
