SGB Update Sports & Fitness
Planet Fitness Revenues Rose 8.7 Percent in 2023
Year-end membership to approximately 18.7 million members in 2023, an increase of 1.7 million since the end of 2022, and full-year system-wide same-store sales increased by 8.7 percent for the year ended December 31.
Xponential Fitness Will Meet or Beat Estimates for the Year
Xponential Fitness, Inc. provided 2023 operating highlights ahead of the company’s participation at the ICR 2024 Conference in Orlando FL and the Jefferies Winter Consumer Summit in Avon, CO.
Orangetheory Opens First Fitness Studio in Manassas
A boutique fitness studio franchise based in Boca Raton, FL, is planting roots in Manassas, VA, centrally located in Bull Run Plaza.
Fitness Ventures Acquires Crunch Toledo Location
The acquisition of Crunch Toledo is part of a growth plan for Fitness Ventures, aiming to own and operate 100 clubs by 2027.
Crunch Fitness to Open in Cedar Park, TX
Crunch Cedar Park, a $5 million, 40,000-square-foot fitness facility with state-of-the-art equipment, is located in a newly renovated space previously occupied by Gold’s Gym.
New Jersey Law Makes It Easier to Cancel Gym Memberships Online
Fitness club ownership across the U.S. will have their eyes on New Jersey this year to better understand if a new state law will help or hurt operators in New Jersey.
Andy Campion Departs Nike, Heads Back to School
Nike’s managing director for strategic business ventures, Andy Campion, leaves the company, effective April 5, 2024, to help develop the UCLA Sports Leadership and Management Program at UCLA Anderson School of Management.
Augusta Sportswear Brands and Founder Sport Group to Integrate in PE Deal
Platinum Equity acquired the companies with an eye on integrating the two entities. They join Mad Engine as a part of the private equity firm’s portfolio of companies serving the active lifestyle apparel market.
NRF Chief Economist Sees Potential Rough Road Ahead for Retail
The National Retail Federation’s Chief Economist Jack Kleinhenz believes consumers spent more than expected amid high inflation and interest rates during 2023, but spending growth is likely to slow in 2024.
Lohla Sport Appoints New Rep for PNW, Rockies Regions
Golf and ski industry veteran Kristin Ericson was hired as senior business development executive for the ladies’ golf-lifestyle apparel brand in the Pacific Northwest and Rockies.
UK Retail Foot Traffic Declines Sharply in December
Overall retail UK foot traffic decreased by 5.0 percent year-over-year in December, down from a 0.7 percent decline in November, according to BRC-Sensormatic IQ data.
Tiger and Nike Confirm the End of an Era
Tiger was at the end of a ten-year, $200 million deal he signed with Nike in 2013. Along with his announcement on X, he uploaded a photo of himself with his mother, Kultida, and Nike Founder Phil Knight.
NRF: Import Cargo Enters Winter Lull as Red Sea Disruptions Continue
Inbound cargo volume at the nation’s major container ports should gradually decline during the first quarter of 2024 before increasing in the spring, according to the latest NRF report.
Fila Holdings Promotes Todd Klein to Global Brand President
The company appointed Fila USA President Todd Klein to take on the newly created role of global brand president. In addition to his existing responsibilities, Klein will assume responsibility for overall operations of the Fila brand including global product and marketing strategies.
Lululemon Athletica Ups Guidance on Solid Holiday Performance
Fiscal Q4 net revenue is now expected to be in the range of $3.17 billion to $3.19 billion, representing a 14 percent to 15 percent increase compared to Q4 2022. The previous guidance range was $3.14 billion to $3.17 billion.
