SGB Update Sports & Fitness
Perfect Moment Ltd. Posts Lower Fiscal Q3 Sales, Profits as Deliveries Pulled Forward
The sales decrease was said to be primarily due a substantial amount of wholesale revenue that historically was recorded in Q3 was instead accelerated into Q2 due to certain earlier-than-planned customer shipments.
Rhone Appoints Two New Board Members; will Launch First Women’s Collection in May
Bolsters its leadership team with the appointment of Athleta and CorePower Yoga veteran Tess Roering and ESPN Chairman Jimmy Pitaro.
Rally House Expands to 16 stores in Philly; Adds Storefront in Texas
Rally House opened a store at the Gloucester Premium Outlets in Philadelphia and one in Cedar Hill, TX.
Nike Names Minimalist Designer Tim Hamilton as Global VP of Design
Hamilton brings over 26 years of design experience to the role including working on large-scale collabs, and has reportedly built a reputation in the industry for “technical craftsmanship and modern minimalism while reflecting subtle shifts in youth culture.”
Mavic Fine-Tunes Product, Adds Reps to Address U.S. Market Needs
The company said it has embarked on a steady rollout of new reps to manage retail growth in the U.S., with new reps added in California, Nevada, Pacific Northwest, Mountain States, Southwest, Mid-Atlantic, New England, and Florida.
Professional Tennis Registry’s Longtime CEO Departs
Dan Santorum is departing the Professional Tennis Registry (PTR). During his 40-year tenure, he has seen membership increase from an organization of 2,500 members in 68 countries to one with more than 16,500 members in 125 countries.
PXG Opens Flagship Store in Orange County
In Huntington Beach, CA, PXG Orange County offers custom golf club fitting and apparel for golf and fashion enthusiasts.
Revelyst Acquires PinSeeker a Golf Simulator Competition Platform
PinSeeker will be integrated into Foresight Sports, the maker of golf launch monitors and simulators, in Vista Outdoor’s Revelyst’s Precision Sports Technology platform. PinSeeker employees will relocate to San Diego, where Revelyst’s Precision Sports Technology platform is based.
Capstone Partners Releases Annual Consumer M&A Report
Personal consumption spending on services increased 7.4 percent YoY, over double the growth experienced by goods spending, the widest differential of services spending growth versus goods spending growth since 2009.
Topgolf Callaway Completes Debt Repricing
The company said it lowered its annual interest expense while maintaining the financial flexibility and liquidity needed to fund the continued growth of the business.
Nike Inc. Gets Wholesale Lift in Fiscal Q3 to Post Earnings Beat
Revenues for the Nike Brand were $11.9 billion, up 2 percent on a reported and currency-neutral basis, as currency-neutral growth in North America, Greater China and APLA was said to be offset by declines in EMEA.
Lululemon Posted Strong Q4 Results but Guides to Slower Q1 Growth
The company’s net revenue increased 16 percent to $3.2 billion in Q4 and grew 12 percent in comparable sales terms. Diluted earnings per share were $5.29 in Q4 2023 compared to 94 cents per share in the fourth quarter of 2022.
Nike Becomes Kit Supplier for German Football Association in 2027
Adidas has been supplying German soccer with its gear since 1954, and last week it presented the new jerseys for the upcoming European Championship, which Germany is hosting this summer.
Allbirds Inc. Inks Two More International Distributor Deals
Alyasra Fashion will be the exclusive Allbirds distributor in the Gulf Countries territory, and Primer Group will distribute Allbirds products across Malaysia, Singapore, Indonesia, and the Philippines.
Academy Sports and Outdoors Sees Positive Change in Q4 Sales Trend
The retailer reported that it did not meet its own expectations for Fiscal 2023 but a trajectory change in the fourth quarter turned the frown upside down. Fourth quarter net sales were up 2.8 percent to $1.79 billion while comp store sales declined 3.6 percent for the period.
