SGB Update Sports & Fitness
GT Golf Supply Acquires Global Rights and IP of the Clicgear Golf Pushcart Brand
The company, backed by Kinzie Capital Partners LP, acquired the global rights to the Clicgear golf pushcart brand and all associated intellectual property from Clicgear Industrial Design Ltd. GT Golf said Clicgear is the leading brand in the golf pushcart market.
Recall: Specialized Bicycle Components Haul ST and LT E-bikes with Telescopic Seat Posts
This recall (No. 25-319) involves the 13-inch telescopic seat posts that the company originally equipped on the Specialized Globe-branded Haul ST e-bikes and Haul LT e-bikes. “Haul ST” and “Haul LT” are printed on the bicycle’s downtube.
Manchester United’s Commercial Revenues Expand 7 Percent In Fiscal Q3
The professional football club based in Manchester, England, reported commercial revenue for the fiscal third quarter ended March 31 was £74.7 million ($101 mm), an increase of 7.3 percent over the prior-year quarter.
Recall: BowFlex Adjustable Dumbbells
Johnson Health Tech Trading, the parent company of BowFlex, announced a voluntary recall of BowFlex 552, 52.5 lb Adjustable Dumbbells and BowFlex 1090, 90 lb Adjustable Dumbbells, due to impact hazards, including 3.7 million sold by Nautilus, Inc.
Dick’s SG Seeks to Make Debt Exchange with Foot Locker as Part of Acquisition Deal
The U.S. retailer of sports equipment, apparel, footwear, and accessories, is offering to exchange its debt for Foot Locker’s $400 million outstanding debt as part of its pending acquisition.
The NBA Opens Lids Operated Store In Mall of America
In partnership with Lids and Fanatics, the store will offer an immersive experience for consumers to connect with the game while shopping a wide range of NBA and WNBA merchandise.
Lululemon Axes FY EPS Guidance Despite Q1 Beat
The company reported earnings and sales exceeded its guidance in the fiscal first quarter ended May 4, but still trimmed its EPS outlook for the year and provided guidance for the second quarter that was well below analysts’ consensus target.
Nike Promotes Tony Bignell to Chief Innovation Officer
Nike has confirmed reports that Tony Bignell, VP of men’s sport performance footwear, has been promoted to chief innovation officer. He replaces John Hoke who plans to retire in October.
Adidas Gets Debt Upgrade by S&P on Improving Performance
S&P Global Ratings raised its debt ratings on Adidas due to the brand’s stronger-than-expected deleveraging trend, mainly driven by the group’s sustained momentum in its underlying operating performance and cash flow generation improvements versus previous forecasts.
GoPro, Inc. Adds Two Members to Board of Directors
GoPro, Inc. appointed Mike Dennison, CEO of Fox Factory Holding Corp. and Emily Culp, chief brand and strategy officer of BodyHealth, to its Board of Directors.
Life Time Group Shareholders to Sell 20 Million LTH Shares in Secondary Offering
The operator of athletic country clubs across the U.S. and Canada said shareholders sold 20 million shares of stock in a secondary offering, raising $590 million for selling shareholders. Lifetime did not receive any proceeds from the sale.
KKR-Backed Bay Club Acquires 425 Fitness
The operator of three fitness clubs in the greater Seattle area (Bothell, Redmond and Issaquah), deepens its presence in the Pacific Northwest. The addition also gives Bay Club 27 fitness clubs across California.
Costco May Comps Grow 6.0 Percent x-Gas; E-Commerce Up 12 Percent
Excluding gas, Costco’s same-store sales in the U.S. were up 5.5 percent in the U.S. and 6.0 percent overall. E-commerce sales advanced 12 percent.
Adidas to Pay Fine for Safety Violations at New York Warehouse
In the settlement with the U.S. Department of Labor, Adidas will pay $235,000 in penalties to resolve violations stemming from missing guardrails and unsafe ladders at a warehouse in upstate New York.
Under Armour Expands Partnerships with BSN Sports and Momentec Brands
Under Armour raised its commitment to the team uniform category in announcing the expansion of its partnership with BSN Sports and extension of its partnership with Momentec Brands.
