SGB Update Sports & Fitness
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.
January U.S. Census Bureau Retail Data Shows Consumers ‘Still Engaged’
January prices for goods reportedly came down, which affects sales figures even if the same number of items are sold, and increased prices for services pulled dollars away from retail purchases.
Authentic Inks Reebok UK/Ireland Apparel License with Source Sport
This partnership will deliver an expanded range of Reebok apparel that aligns with consumers’ active lifestyles in the UK and Ireland.
Crunch Franchise Opens Newest Location in Eugene, OR
Crunch Eugene, a 45,000-square-foot fitness facility in Springfield, OR will open in the Shoppes of Gateway Mall.
Xponential Fitness Completes Divestiture of Stride Fitness
The divestiture of its brand Stride Fitness to Stride Fitness Franchising, Inc., owned by Shaun Grove, the president of Xponential’s Rumble Boxing brand, is not expected to materially impact XPOF revenue in 2024.
Crocs Inc. Sees Q4 Growth Slow as N.A. Wholesale Declines
Fourth quarter revenues were $960 million, an increase of just 1.6 percent, or 1.5 percent on a constant-currency (CC) basis, from the corresponding period in 2022. North America Wholesale declined 5.1 percent in Q4.
Skechers U.S.A. Completes a Retail 5K on Way to Store Number 10,000
Expanding its international store count, key store openings for Skechers leading up to the milestone are in Chile, Greece, India, Mexico, South Korea, the United States, and the 5,000th store in Bogotá, Colombia.
