SGB Update Sports & Fitness
SportsShoes.com Expands Marketing and Design Teams
SportsShoes.com hired ten new employees within its brand marketing, social media and design departments to support business growth and development.
Strava Appoints Former Nike Exec as CEO
The company hired Michael Martin as CEO, replacing outgoing CEO, Michael Horvath. Martin will also join the Strava Board upon assuming the role on January 2, 2024. Currently, Martin serves as the GM of YouTube Shopping.
Kyrie Irving Joins Kicks Crew as Equity Shareholder, Chief Community Officer
Irving’s role as chief community officer is also expected to showcase a “cause-driven, community-centric approach, empowering new brands and collaborations that blend art and basketball in new ways.”
CNBC/NRF: Strong Retail Sales Gain for First Half of Holiday Season
According to CNBC/NRF Retail Monitor, the holiday shopping season began with a strong start in November as retail sales with total retail sales, excluding automobiles and gas, up 0.77 percent seasonally adjusted month over month and up 4.24 percent unadjusted year-over-year.
Beachbody Announces $5.3 Million Registered Direct Offering
The Beachbody Company Inc entered into a definitive securities purchase agreement with certain institutional investors for the purchase and sale of 543,590 shares of the company’s common stock at a purchase price of $9.75 per share in a registered direct offering.
NRF: Imports Peaked in October, Volume Expected to Increase in 2024
Inbound cargo volume at the major container ports in the U.S. will continue to slow during the final weeks of 2023 after peaking later than expected in the fall, according to the Global Port Tracker* report released by the NRF and Hackett Associates.
NRF: Economy Delivers “Vigorous Growth” Despite Slowdown
According to the National Retail Federation’s Chief Economist Jack Kleinhenz, after a challenging year, the economy remains healthy despite slowing.
Delta Apparel Posts Wider Fiscal Q4 Loss as Sales Fall 21 Percent
Salt Life Group segment net sales were $12.5 million in Q4, compared to prior-year fourth quarter net sales of $14 million. Net sales in the Delta Group segment were $78.9 million in Q4, compared to $101.5 million in the prior-year fourth quarter.
Lululemon’s Q3 Earnings Dip On Charge Tied to Mirror Shutdown
Lululemon Athletica, Inc. reported earnings declined slightly due to a charge related to its move to discontinue its Mirror platform as part of a new partnership with Peloton. Excluding the charge, earnings and sales topped guidance for the third straight quarter and Lululemon again lifted its outlook for the year.
Crunch Fitness Names Preferred Fitness Equipment Supplier
Crunch Fitness selected Life Fitness as a preferred supplier for its U.S. locations, supplying commercial fitness equipment for strength and cardio to Crunch clubs. Crunch has been a Life Fitness customer for over 30 years.
Tanger Acquires First Open-Air Lifestyle Center
Tanger acquired Bridge Street Town Centre in Huntsville, AL for $193.5 million using cash on hand and available liquidity. Management expects the center to deliver a first-year return in the mid-eight percent range, with potential for additional growth over time.
Topgolf Adding Second Arkansas Location in State Capital
Topgolf is wrapping up the year with a second Arkansas venue. Topgolf Little Rock will open on December 22 in the state’s capital. The location will be Topgolf’s 98th outdoor venue and 88th in the U.S.
Flywheel Sports Co-Founder Named CEO of Body20
Body20, the fitness boutique focused on electro-muscle stimulation, hired Jay Galluzzo, former CEO and co-founder of Flywheel Sports, as CEO, succeeding Greg Breitbart, who will transition to a member of the Board of Directors.
ICSC Board of Trustees Elects New 2024 Chair and Vice Chair
The ICSC Board of Trustees elected Jim Taylor, president & CEO, Brixmor Property Group, to serve as ICSC’s chairman and Angele Robinson-Gaylord, SVP, store development americas, Starbucks, to serve as vice chairman for the 2024 term.
FWV Sells CGPR to Integrated Travel and Recreation Marketing Firm
Off Madison Ave acquired PR Agency CGPR from French/West/Vaughan (FWV), the Raleigh, NC-based marketing agency that acquired the company in February 2020. CGPR is the fifth merger and acquisition by Off Madison Ave since 2005.
