SGB Update Sports & Fitness
Planet Fitness Q4 Profits Grow as Revenue Inches Up Amid Executive Moves
Franchise segment revenue increased 13.9 percent and Corporate-Owned Stores segment revenue increased 15.9 percent, while Equipment segment revenue decreased 25.5 percent, netting 1.4 percent growth for the quarter.
Planet Fitness Chief Financial Officer to Retire
The news comes a day after Planet Fitness reported to the SEC that former CEO and 20-year company veteran Chris Rondeau resigned from the company’s Board of Directors over job cuts and authority provided the interim CEO.
On Expanding Global Retail Presence; to Open Portland, OR Store
The Swiss performance sportswear brand, will open its newest U.S. store in Portland, OR, on February 24 in an area of town vibrant with shops and restaurants and one mile from its Americas HQ.
Play It Again Parent Sees Growth Moderate in 2023 Second Half
Parent company of the Play It Again Sports franchisor and other retail resale banners, reported revenues for the year ended December 30, 2023 were $83.2 million, up from $81.4 million in 2022.
Pvolve To Bring New Studio to Denver
Pvolve, the omnichannel fitness company, signed a franchise agreement with member Cali Kyle to open its first studio in Denver, CO this fall.
Garmin Posts Solid Q4 Growth in All Active Lifestyle Segments; EPS Up 27 Percent
The company reported that consolidated revenue for the fourth quarter was $1.48 billion, a 13 percent increase compared to the prior-year quarter, with growth across all segments except Aviation.
Planet Fitness: Former CEO Resigns from Board Over Staff Cuts, Other Matters
The company believes the resignation was due to its decision to cut approximately 9 percent of HQ staff in February 2024, the scope of the role of the interim CEO in managing the company and the Board’s role in reviewing and approving such decisions.
Golfzon Range by Leadbetter Opens Second Location
Golfzon Range by Leadbetter—a new concept in indoor golf training from Golfzon and instructor David Leadbetter—will open its second location in Westbury, N.Y. in March.
Wolverine Improves Margins in Tough Q4; Sees Double-Digit Decline for 2024
Fourth quarter revenue from the ongoing business was $521.2 million and declined 18.4 percent on a constant-currency basis, with all segments and brands posting declines.
Camping World Chair and CEO Named Executive Chair at Beyond, Inc.
Marcus Lemonis has been a director of Beyond since October 2023 and the chairman of its Board since December 2023. As executive chairman, he will work closely with the management team to lead and execute Beyond’s strategic priorities.
PXG Expands Owned-Retail with SF East Bay Location
The golf equipment maker has embarked on what it calls its “strategic store expansion” opening its first brick-and-mortar location in California in Dublin, which is in Alameda County, east of Oakland.
Deion Sanders Takes Ownership Stake In Redcon1
Redcon1 and Sanders have been developing a Prime Time-inspired line of products, which will debut with an energy drink.
Walmart Inc. Tops Wall Street Estimates in Strong Q4 Performance
Consolidated revenue was $173.4 billion for the fourth quarter, up 5.7 percent, or 4.9 percent in constant-currency terms, topping Wall Street estimates. Global e-commerce sales grew 23 percent for the period.
Macy’s Receives List of Board Nominations from Rejected Buyout Suitor
Macy’s formally rejected the $5.8 billion bid from Arkhouse and hedge fund Brigade Capital on January 21. Financing, or the lack of a solid plan to secure it, was called out as the primary reason.
NGF Measures Off-Course Consumers in Latest Golf Participation Report
The National Golf Foundation’s took a different approach this time around in assessing who is swinging a golf club in this time of shifting demographics, changes in venue types and consumer behaviors in a post-COVID world.
