SGB Update Sports & Fitness
Newell Brands Adds New Board Member
Effective January 1, 2024, Anthony Terry, recently retired executive vice president and chief financial officer of Marriott Vacations Worldwide Corp., will serve on the company’s Board of Directors.
Champion Names VP, Chief Marketing Officer
HanesBrands announced that Richard Mcleod was named vice president and chief marketing officer of global Champion. He joined the company from Canada Goose, where he was senior vice president of brand.
ICSC Releases Post-Thanksgiving Weekend Survey Results
The International Council of Shopping Centers (ICSC) reported the results of its post-Thanksgiving weekend survey*, which showed that over half of respondents (56 percent) noted that they shopped just as much or more than in the past, an increase of 6 percent from its 2022 survey.
Bandier Seeks Sale Amid Credit Pressures
Bandier, the women’s activewear brand, is looking for a buyer to acquire its assets, including inventory and intellectual property. DSI Assignments is conducting the expedited sale process.
German Retailer SportScheck Files for Insolvency; Frasers Exits Deal
UK-based Frasers Group plc, said it intends to work with the appointed preliminary insolvency administrator of SportScheck with a view to acquiring the SportScheck business/assets out of administration.
Castore Secures Equity Investment
Castore, the U.K.-based sportswear brand, has secured a £145 million ($183.1 million) investment in a funding round led by the Raine Group, the U.S. financial advisory and investment firm.
Reebok Inks Licensing Partner For Sports Equipment
Authentic Brands Group has entered into a long-term licensing agreement with Sakar International to design and distribute Reebok-branded basketball, pickleball, baseball, soccer, and football equipment and electronics, including audio, tech and massage products.
Hanesbrands Gets Debt Ratings Downgrade
Moody’s Investors Service downgraded Hanesbrands, Inc.’s debt ratings to reflect the company’s significant earnings declines through 2023 and Moody’s expectation that leverage and coverage credit metrics will remain weak through the first half of 2024.
Delta Apparel to Sell Fayetteville Factory
Delta Apparel, Inc., in a regulatory filing, said it expects to receive net proceeds of $23 million from the sale and long-term leaseback of its approximately 35-acre campus in Fayetteville, NC. The buyer is RH Dunn, LLC.
Report: U.S. Retail Footwear Sales Dip for Thanksgiving Week
Footwear units sold reportedly declined 4 percent in the week ending November 25, but dollar sales declined at a softer rate of 1 percent due to a 4 percent increase in average selling prices (ASPs)., according to Circana’s point-of-sale data.
Topgolf’s Second Louisiana Venue to Open in December
Topgolf reported it will open its Lafayette, LA venue on December 15, approximately 15 minutes from downtown Lafayette, in the Ambassador Town Center.
Sam’s Club to Open Two New Midwest Distribution Centers
The Walmart Inc.’s warehouse club division plans to open two new distribution centers in early 2024 outside St. Louis and Minneapolis.
Academy Sports Trims Guidance on Q3 Shortfall
The retailer narrowed its full-year guidance to the lower end of prior expectations as third-quarter sales and earnings arrived below expectations. The retailer blamed generally soft consumer spending and warm weather’s impact on fall selling.
Costco’s Comps Improved 3.5 Percent in November
Costco Wholesale Corp. reported same-store sales rose 3.5 percent in November. By region, comps increased 1.8 percent in the U.S., 4.4 percent in Canada and 11.7 percent in its Other International segment.
StretchLab Opens its 400th Location
StretchLab, offering one-on-one assisted stretch, opened its 400th franchise location at StretchLab University Village in Colorado Springs, CO. The milestone comes eight months after the company’s 300th studio opened, opening a location every three days in 2023.
