SGB Update Sports & Fitness
Planet Fitness Launches Accelerated Share Repurchase Program
Planet Fitness entered into a $280 million accelerated Share Repurchase Agreement with Citibank, N.A.. The company will acquire shares under the Agreement as part of its $500 million share repurchase authorization previously announced.
Super Retail Names New Chair to Replace Sally Pitkin
Super Retail Group, which owns Rebel, Supercheap Auto, BCF and Macpac in Australia, appointed Fonterra executive Judith Swales as its new Board chair replacing Sally Pitkin, who will retire from the Board after the company’s October annual general meeting.
TaylorMade Opens Golf Ball Manufacturing Facility in Korea
TaylorMade Golf opened an expanded golf ball plant facility at TaylorMade Golf Ball Korea, becoming the brand’s third global golf ball plant. The site joins TaylorMade’s facilities in Liberty, SC and Taiwan.
Pura Vida’s Q1 Revenues Tumble 37 Percent
according to Vera Bradley, Inc., Pura Vida’s parentm revenues totaled $12.7 million, a 37.0 percent decrease from $20.1 million in the prior year first quarter, primarily due to declines in e-commerce and wholesale sales,.
Planet Fitness, Inc. Completes Refinancing Transaction
The proceeds from the placement of the 2024 Notes will be used to repay in full the Series 2018-1 Class A-2-II Notes, to pay the transaction costs and fund the reserve accounts associated with the securitized financing facility and for general corporate purposes.
Tommy Bahama Parent Sees Q1 Sales Decline
Continued choppiness in the market and lack of sustained positive momentum, coupled with the drop in consumer sentiment, led Tommy Bahama parent to take a more conservative outlook for the balance of the year, lowering its fiscal 2024 sales and EPS guidance.
Nike Vet Hired As President of Cosmo Fabrics
Mark Griffie spent over 20 years working at Nike, most recently as VP of materials and sourcing. He will work from Cosmo’s Singapore headquarters, effective July 1.
Game-Set-Match to Open Fifth Store
Plans for the new store in Henderson, NV, include a soft opening in Fall 2024, pending store construction timing, with a grand opening in Spring 2025.
Health & Fitness Association Elects New Board Chair, Vice Chair and Treasurer
At its June 3 meeting, the Health & Fitness Association Board of Directors elected Chris Smith as chair, Luke Carlson as vice chair and Al Noshirvani as treasurer.
True Spec Golf Opens in Dublin, Ohio
Partnering with Intown Golf Club, the indoor private golf facility in central Ohio, opened its second store on June 11, complimenting its other brand store in the state.
Yue Yuen’s May Sales Boosted by Manufacturing Growth
Yue Yuen Industrial, Ltd. reported revenues rose 2.3 percent in May to $717.4 million. Sales rose 2.3 percent in its manufacturing segment but declined 8.0 percent in its retail segment.
The Picklr Opens in McKinney, Texas
Anchored by Trader Joe’s, Starbucks, Hollywood Feed, and Christina’s Mexican Restaurant, The Picklr adds a key category, athletics, to the lineup of businesses in Eldorado Plaza.
Tailwind Nutrition Hires Director of Finance
Carter Shae was appointed director of finance. Most recently, he worked as CFO for Cut Clothing overseeing finance, accounting, human resources, customer experience, logistics, and board and investor relations.
Lotto Invests in Pickleball Team
Lotto announced a strategic partnership with the Brooklyn Aces, becoming the first athletic brand in the ownership group of a professional pickleball team. The Italian sports brand joined celebrity owners Kevin Durant, Rich Kleiman, Drake, and Michael B. Jordan.
BDA Acquires European Sports Merchandise Provider
Woodinville, WA-based branding giant Bensussen Deutsch & Associates completed the acquisition of UK-based sports, events and promotional products provider, The Great Branding Company.
