SGB Update Sports & Fitness
Nike Set To Become First Major Sponsor Of Los Angeles 2028
Nike is close to completing a deal to become the the first major sponsor of the 2028 Olympic and Paralympic Games in Los Angeles, according to the Sports Business Journal.
Survey: March Madness Seen Boosting Employee Morale
In new research from global staffing firm Robert Half, 72 percent of senior managers said college basketball tournament activities have a positive impact on staff morale. More than half of survey respondents (52 percent) also see productivity benefits.
Planet Fitness Announces Development Partnership With Kohl’s
Planet Fitness Inc., the franchisor and operator of fitness centers, partnered with Kohl’s to initially open up to 10 Planet Fitness stores adjacent to select Kohl’s stores across the country in 2019 with the opportunity for additional locations in the future.
Lindsey Vonn Joins Under Armour’s Project Rock
Lindsey Vonn, a long-time Under Armour athlete who recently retired from competitive skiing, will join Team Project Rock alongside fellow Under Armour athlete, Dwayne “The Rock” Johnson, as a global ambassador for the Project Rock collection.
Belle Intl Hires Underwriters For IPO For Sportswear Unit
Belle International, the Chinese footwear retailer, has hired Bank of America Merrell Lynch to help prepare for a Hong Kong listing of its sportswear business this year, sources told Reuters.
Kohl’s Q4 Tops Wall Street’s Targets
Kohl’s Inc. reported better-than-expected earnings and revenue in the fourth quarter and provided an upbeat outlook for 2019. Earnings on an adjusted basis rose 17 percent on lower operating expenses and a 1 percent same-store gain.
Academy Sports To Open New Stores In Terrell and Frisco, Texas
Academy Sports + Outdoors announced that it will be opening new stores in Terrell, TX, and Frisco, TX, this year.
Gaia’s Q4 Revenues Climb 47 Percent
Gaia, the lifestyle media company, widened its loss in the fourth quarter despite a 47 percent hike in revenues.
Berkshire Hathaway Sees 4.6 Percent Gain in Apparel/Footwear Sales in 2018
Berkshire Hathaway reported apparel and footwear revenues increased 4.6 percent in 2018 to $4.3 billion, primarily due to increased sales volume at Brooks Sports and Garan.
Play It Again Sport Parent Sees Flat Q4 Profits
Winmark Corp., the parent of Play It Again Sports, reported net income for the fourth quarter of $7.65 million, or $1.83 per share diluted, compared to net income of $7.64 million, or $1.86, for the same period last year.
U.S. And China Near Deal
The U.S. and China are close to a trade deal that could lift most or all U.S. tariffs, according to multiple reports.
Bandier Secures $34M In Funding
New York City-based Bandier, the women’s activewear retailer, has raised $34.4 million in funding. The investors included C Ventures and Eurazeo Brands, which is taking a minority stake in Bandier. Adrienne Lazarus, who formerly led
Frye and Intermix, has been hired as CEO.
Wolverine Worldwide Partners With Xtep International To Support China Growth
Wolverine World Wide, Inc. announced the company has entered into a joint venture agreement with Xtep International Holdings Limited, a leading Chinese sportswear retailer, to develop, market and distribute Merrell and Saucony products in mainland China, Hong Kong and Macau.
Report: Under Armour To Lay Off 50 At Headquarters
Under Armour is laying off 50 people at a headquarters in Baltimore as part of the cuts it announced last year.
Nautilus’ CEO Resigns
Nautilus, Inc. announced that, effective March 1, 2019, Chief Executive Officer Bruce Cazenave has resigned from the company. M. Carl Johnson III, chairman of the board of Nautilus Inc., has assumed the role of interim CEO.
