SGB Update Sports & Fitness
Johnson Health Tech Names New VP Commercial Business, International
John Young was promoted to VP of Commercial Business, International. He joined JHT in 2017 and was previously responsible for commercial sales and business development across the Pan-Asia region.
Ross Stores Comps Up 7 Percent in Q4 and EPS Sees Solid Increase
The discount retailer reported sales for the fiscal fourth quarter ended February 3 grew to $6.0 billion. Ross posted EPS of $1.82 per share for the 14-week fourth quarter ended February 3, up from $1.31 per share for the 13-week Q4 period ended January 28, 2023. The extra week was responsible for 20 cents a share.
Beachbody Raises Cash in California Facility Sale/Lease-Back Deal
The company sold its Van Nuys, CA production facility, which had a net carrying value of $4.8 million at year-end, for $6.2 million and simultaneously entered into a five-year lease of the facility.
Ghost Golf Appoints VP of Sales
Jim Jamison will spearhead Ghost Golf’s efforts to establish a presence in the Green Grass and Big Box Retail markets, which are focal points for its growth strategy in 2024.
NRF Economist Says Inflation and Interest Rates Remain Key to Economy
The NRF’s monthly review indicated that January’s 3.1 percent year-over-year (YoY) inflation, as measured by the Consumer Price Index, improved from December’s 3.4 percent but “still a considerable distance” from the Fed’s target of 2 percent.
Target Corp. Beats on Q4 Earnings Estimates but Sales Fall Short
Sales fell short of expectations in Q4 on a tough holiday selling period, but earnings beat estimates as the retailer posted GAAP and Adjusted EPS of $2.98, compared with $1.89 in Q4 2022. Analysts were reportedly looking for $2.42 a share.
BowFlex Inc. Files for Chap 11 Bankruptcy; Appoints Stalking Horse Bidder
The fitness company, formerly Nautilus, Inc., entered into a purchase agreement with Johnson Health Tech Retail, Inc. to serve as the Stalking Horse Bidder in acquiring substantially all of the company’s assets for $37.5 million in cash.
Worksman Cycles to Distribute Pacific Adaptive Tricycles
The long-time U.S. manufacturer of industrial-grade, heavy-duty cycles, is now the exclusive North American distributor for the Pacific Micah Adaptive Tricycle
Gymshark Appoints First Chief Digital Officer
Carly Natalizia was promoted to Chief Digital Officer at Gymshark. She joined the company in 2022 as vice president of marketing, International leading the marketing team for the UK, EMEA and APAC. She was promoted to global marketing director in January 2024.
Longwood Hockey Acquires Palm Beach Ice Works and Palm Beach Breakers
This transaction launches the beginning of Robbins, Laferriere and the Longwood Hockey team’s efforts to revolutionize hockey in South Florida.
Life Fitness Promotes Mahadevan to Chief Commercial Officer
Andrew Mahadevan has led Life Fitness’ Asia Pacific region as vice president and managing director since 2019. His promotion follows the retirement of Frank van de Ven, Life Fitness’ current chief commercial officer.
Cascade Health & Fitness Hires National Sales Manager
Matt Hennessey was hired as the national sales manager for Cascade Health & Fitness.
Celsius Holdings Shares Jump After Posting Q4 Profit, Nearly Doubling Sales
North American revenue increased 97 percent to $333 million, up from $169 million for the prior-year fourth quarter. Management noted that the North American business was led by expansion in distribution points and higher SKUs per location.
Xponential Fitness Sees Wider Q4 Net Loss on Charges and One-Time Costs
The higher net loss was said to be the result of an increase in restructuring costs from the company-owned transition studios, lower overall profitability, and an increase in impairment of goodwill and other assets, partially offset by other one-time items..
PPA Tour and Major League Pickleball Close Merger
The professional pickleball organizations Carvana PPA Tour (PPA Tour) and the MLP by Margaritaville (MLP) announced today the completion of the company’s previously announced merger and the formation of a singular pro pickleball holding company.
