SGB Update Sports & Fitness
Tommy Bahama Parent Sees Q1 Sales Decline
Continued choppiness in the market and lack of sustained positive momentum, coupled with the drop in consumer sentiment, led Tommy Bahama parent to take a more conservative outlook for the balance of the year, lowering its fiscal 2024 sales and EPS guidance.
Nike Vet Hired As President of Cosmo Fabrics
Mark Griffie spent over 20 years working at Nike, most recently as VP of materials and sourcing. He will work from Cosmo’s Singapore headquarters, effective July 1.
Game-Set-Match to Open Fifth Store
Plans for the new store in Henderson, NV, include a soft opening in Fall 2024, pending store construction timing, with a grand opening in Spring 2025.
Health & Fitness Association Elects New Board Chair, Vice Chair and Treasurer
At its June 3 meeting, the Health & Fitness Association Board of Directors elected Chris Smith as chair, Luke Carlson as vice chair and Al Noshirvani as treasurer.
True Spec Golf Opens in Dublin, Ohio
Partnering with Intown Golf Club, the indoor private golf facility in central Ohio, opened its second store on June 11, complimenting its other brand store in the state.
Yue Yuen’s May Sales Boosted by Manufacturing Growth
Yue Yuen Industrial, Ltd. reported revenues rose 2.3 percent in May to $717.4 million. Sales rose 2.3 percent in its manufacturing segment but declined 8.0 percent in its retail segment.
The Picklr Opens in McKinney, Texas
Anchored by Trader Joe’s, Starbucks, Hollywood Feed, and Christina’s Mexican Restaurant, The Picklr adds a key category, athletics, to the lineup of businesses in Eldorado Plaza.
Tailwind Nutrition Hires Director of Finance
Carter Shae was appointed director of finance. Most recently, he worked as CFO for Cut Clothing overseeing finance, accounting, human resources, customer experience, logistics, and board and investor relations.
Lotto Invests in Pickleball Team
Lotto announced a strategic partnership with the Brooklyn Aces, becoming the first athletic brand in the ownership group of a professional pickleball team. The Italian sports brand joined celebrity owners Kevin Durant, Rich Kleiman, Drake, and Michael B. Jordan.
BDA Acquires European Sports Merchandise Provider
Woodinville, WA-based branding giant Bensussen Deutsch & Associates completed the acquisition of UK-based sports, events and promotional products provider, The Great Branding Company.
Academy Sports’ Q1 Earnings Miss Wall Street Targets
Academy Sports and Outdoors, Inc. reported first-quarter earnings on an adjusted basis slid 20.8 percent and came in lower than analyst expectations for the second straight quarter. Same-store sales were down 5.7 percent, and gross margins were off slightly. Steve Lawrence, CEO, said, “Our customers remain under pressure in the current economic environment.”
Planet Fitness Prices $800 Million Securitized Financing Facility
Planet Fitness, Inc. priced $800 million of Series 2024-1 Class A-2 fixed rate senior secured notes, representing an upsize from its initially planned offering.
Le Coq Sportif Parent Posts Loss In 2023
Airesis, the Swiss holding company that owns the Le Coq Sportif French sports brand and Movement skis, recorded a negative EBITDA of CHF 20 million ($22 mm) and a net loss of CHF 36 million ($40 mm) in 2023.
Waiting Period Ends In JD Sports Bid For Hibbett Sports
Hibbett, Inc. said in a regulatory filing that the Hart-Scott-Rodino waiting period for the proposed acquisition by JD Sports expired, effective June 7, removing any objections from the federal government to the deal on antitrust grounds.
LA Golf Retains Europe Distributor
LA Golf, the Anaheim, CA-based company, has hired Open Sports as its new distribution partner for Europe.
