SGB Update Sports & Fitness
USA Triathlon Announces Key Organizational Updates
USA Triathlon announced several key organizational updates, including the election of Jacqueline McCook as president of the USA Triathlon board of directors, and Joel Rosinbum as vice president of the board, becoming the first woman and elite paratriathlete, respectively, to ever hold these positions.
HanesBrands Hires Tim Gibson And Jim Dunne To Sales Team
HanesBrands Inc. announced that Tim Gibson has joined the company as director of business development, and Jim Dunne has joined as director of distributor sales.
Gap Misses Q1 Estimates
Gap Inc.’s first-quarter earnings and sales missed Wall Street’s expectations in what Art Peck, president and chief executive officer, described as an “extremely challenging” period.
VF Corp Appoints EVP, Global Supply Chain
VF Corporation announced the appointment of Cameron Bailey to the position of executive vice president, global supply chain.
Dick’s Lifts Outlook After Q1 Beat
Dick’s Sporting Goods raised its full-year profit outlook after reporting first-quarter earnings that topped analysts’ estimates. Same-store sales were flat in the quarter compared with a drop of 2.5 percent during the same period a year ago. CEO Ed Stack said same-store sales at Dick’s “turned positive in March and remained positive in April, as we started to see the benefits of our key strategies and investments.”
Anne Worcester Named President Of Universal Tennis
Universal Tennis, the world’s premier tennis platform, announced that Anne Worcester, former WTA CEO & Connecticut Open Tournament Director, has joined the company as president.
MIPS Acquires Fluid Inside
MIPS, the maker of brain protection systems for cycling helmets, announced the acquisition of the brand Fluid Inside and related patent rights. The acquisition builds MIPS’ product offering and safety solutions associated with technology that addresses both linear and rotational motions to improve helmet protection.
Hype Capital To Launch A $75 Million Sports Tech Fund
Hype Sports Innovation, based in London, announced plans for a $75-million capital fund with Uli Becker, ex-president of Reebok and Bernd Wahler, former president of VfB Stuttgart who also served as Adidas CMO.
Authentic Brands Group Acquires Sports Illustrated
Authentic Brands Group (ABG) announced that it has finalized the purchase of the intellectual property of Sports Illustrated from Meredith Corporation.
Ross Stores’ Q1 Comps Gain 2 Percent
Ross Stores, Inc. reported earnings per share for the 13 weeks ended May 4, 2019 of $1.15, up from $1.11 for the same period last year.
BSN Sports Acquires Legacy Team Sales
BSN Sports, a division of Varsity Brands, announced that it has acquired Legacy Team Sales, based in Ocala, FL.
Foot Locker’s Q1 Falls Short Of Targets
Foot Locker Inc. reported earnings on an adjusted basis eased slightly in the first quarter as increased operating costs to fund strategic initiatives offset improving gross margins and a 4.6 percent comp gain. Earnings came in below Wall Street’s consensus target.
Hibbett Sports Q1 Profits Flies Past Estimates
Hibbett Sports Inc. sharply raised its outlook for the year after reporting first-quarter earnings that blew past Wall Street’s consensus target. Comparable store sales increased 5.1 percent.
RECALL: Ethos Pull-Up Assist At Dick’s Sporting Goods
Dick’s Sporting Goods Inc. is recalling about 10,000 Ethos Pull-Up Assist equipment used for assistance while doing pull ups. According to a statement from the U.S. Consumer Product Safety Commission, the plastic clip on the nylon web band that is attached to the resistance band with a carabiner can break, posing a laceration hazard.
Avenatti Indicted In Nike Extortion Case
Controversial lawyer Michael Avenatti was charged with trying to extort Nike out of more than $20 million dollars by threatening to go public with claims the company was facilitating payments to the families of high school basketball stars. Avenatti separately was charged with stealing about $300,000 from his former porn star client Stormy Daniels.
