SGB Update Sports & Fitness

Lululemon Quietly Closes Men’s-Only Stores
Lululemon Athletica has quietly closed its men’s-only stores in New York City and Toronto. A Lululemon spokesperson told Bloomberg customers respond better to Lululemon “as a dual-gender brand.”
SFIA To Testify Against China Tariffs
Bill Sells, SFIA’s senior vice president of government & public affairs, will testify on behalf of the sports & fitness industry on Tuesday, June 25, 2019. Sells plans to say, “We strongly oppose the proposed tariffs because they will disrupt our members’ business models, cause lasting economic harm to American sports companies, and result in higher prices paid by millions of American consumers.”
Mattel Announces Second Annual Global Day Of Play Across 30 Cities
Mattel Inc. announced its second annual Global Day of Play, a company-wide community service initiative that brings the power of play directly to children around the world. More than 1,000 Mattel employees in 30 cities across North America, Asia Pacific, Europe and Latin America will dedicate their time during events held throughout June.
Champion Partners With NBPA
The National Basketball Players Association (NBPA) and THINK450 announced a partnership with Hanesbrands Inc. that will recognize Champion as the official sport style partner of the union.
IDC: Earwear And Watches To Drive Wearables
The market for wearable devices is on track to reach global shipments of 222.9 million units in 2019, growing to 302.3 million units in 2023 with a compound annual growth rate (CAGR) of 7.9 percent, according to a new forecast from International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker. Behind that growth is the propagation of smartwatches and ear-worn devices, which will account for more than 70 percent of all wearable shipments by 2023.
CTA: China Tariffs Are Taxes On Consumers’ Favorite Tech
The Trump administration’s proposed 25 percent tariff on $300 billion in goods imported from China would increase the prices Americans pay for cell phones, laptops, tablets and video game consoles, according to a new study commissioned by the Consumer Technology Association (CTA). If the list 4 tariffs take effect, Americans will pay between $50 and $120 more apiece for many of their favorite technology products.
VJ Shoes Partners With Tough Mudder
VJ Shoes USA, the North American distributor for Finland-based VJ Sport, has signed as Tough Mudder’s official North American shoe partner and the first participating brand in the Tough Mudder Incubator program.
Best Buy To Introduce Home Exercise Equipment
Best Buy announced it will start selling a new collection of connected fitness products from exercise companies including Flywheel Sports, NormaTec,Hyperice, Hydrow and NordicTrack. The new assortment is part of the company’s commitment to helping customers use technology to live better, healthier lives.
SoulCycle To Launch SoulCycle Radio On SiriusXM
SoulCycle has teamed up with SiriusXM for the launch of an exclusive fulltime SoulCycle music channel featuring the inspiring, motivating, and transformative music heard in their studios.
S&P Downgrades Academy Sports’ Debt Ratings
Standard & Poor’s lowered its issuer credit rating on Academy Sports to ‘SD’ (selective default) from ‘CCC+’ and the issue-level ratings on the term loan facility to ‘D’ from ‘CCC+’ due to the retailer’s repurchase of debt.
3N2 To Sponsor Full Sail Armada Esports Teams
3N2, the Orlando-based designer and manufacturer of custom apparel and footwear, has been named an official sponsor of Armada, Full Sail University’s collegiate esports organization.
Hibbett Sports Hosts “Until We All Win” Social Media Contest
Hibbett Sporting Goods Inc. will host a special N7 Until We All Win contest on social media between 6/17 and 6/21 around the launch of the Nike N7 Until We All Win 2019 collection.

Under Armour Appoints SVP Of Sports Marketing
Under Armour Inc. announced the appointment of Sean Eggert as its new senior vice president of global sports marketing. Eggert joins Under Armour from Red Bull.
Hibbett Delays 10Q To Review Lease Accounting
In a regulatory filing, Hibbett Sports Inc. said it will be unable to file its quarterly report for the quarter ended May 4, 2019 with the Securities & Exchange Commission within the prescribed time period due to the company’s need to further review its recent adoption of the Financial Accounting Standards Board’s Accounting Standards Update (ASU) regarding leases.
New Balance Comes Out Against Tariffs
New Balance, which has previously backed President Donald Trump’s trade policies, submitted a letter to the USTR strongly opposing President Trump’s latest threat to expand tariffs on China.