SGB Update Sports & Fitness
Genesco Taps Foot Locker Exec as Journeys Group President
Genesco, Inc. appointed Andy Gray as president of the Journeys Group, effective January 3, 2024. He joins the company from Foot Locker, Inc., succeeding Mario Gallione, who announced his retirement plans in August.
Tennis Express Re-Acquired by Founder
Houston, TX-based Tennis Express announced that Brad Blume, company founder, re-acquired full ownership in the retail and online business from Signa Sports United
Wilson Opens Storefront in Mall of America
Wilson Sporting Goods Co. officially opened a retail store in the Mall of America in Bloomington, MN. The 2,600 square-foot space is Wilson’s first brick-and-mortar store in the region.
Second Chance Opens European Office and Warehouse
Second Chance Ltd, a sporting goods distributor specialising in golf, cycling, football, fishing and connected sports technology based in Frankfurt, Germany, announced the opening of a new trading business, and limited GmbH company, SC Distribution Europe.
Rally House Adds Stores in Detroit and Kansas City
Rally House announced it opened new stores in northern Detroit and Kansas City. Rally House operates over 180 stores across 18 states in the U.S.
United Sports Brands Acquired by Norwest Equity Partners
Norwest Equity Partners (NEP) has acquired United Sports Brands, the parent of Shock Doctor, McDavid, Cutters, Nathan, Pearl Izumi, and Glukos, from Bregal Partners. NEP’s history with USB brands dates to 2008, when it acquired Shock Doctor as part of its consumer products portfolio.
Report: Black Friday Traffic Sees Uptick
Sensormatic Solutions released its initial shopper visit data for U.S. brick-and-mortar stores and shopping centers for Black Friday, November 24, noting that foot traffic increased 4.6 percent compared to 2022.
Report: U.S. Black Friday Retail Sales Up Modestly
According to Mastercard SpendingPulse, retail sales grew 2.5 percent year-over-year on Black Friday, slowing as expected from a gain of 12 percent on the same day a year ago.
Report: Black Friday Sees Record Online Spending
According to Adobe Analytics, a record $9.8 billion was spent online in the U.S. for Black Friday, up 7.5 percent year-over-year (YoY). Adobe had estimated this year’s Black Friday sales at $9.6 billion.
NGF Sets Leadership Transition
The National Golf Foundation appointed Greg Nathan as CEO. Joe Beditz, the current CEO, will transition to executive chairman. The NGF Board approved the changes to take effect on January 1, 2024. Nathan assumed the role of president earlier this year,
Puma Appoints GM for Puma Japan
Puma hired Ryokusai Inoue as general manager of Puma Japan, effective immediately. He replaces Kohei Hagio, who has held the position since 2021.
Wolverine World Wide Sees Debt Ratings Downgraded
Moody’s downgraded Wolverine World Wide, Inc.’s debt ratings to reflect Wolverine’s “ongoing steep revenue and earnings declines and Moody’s expectations that the challenging retail environment will hinder the company’s ability to realize significant near-term benefits from its turnaround efforts.”
Fanatics Commerce’s Debt Ratings Downgraded to Negative
Moody’s Investors Service downgraded Fanatics Commerce’s debt rating to reflect the online fan website’s “significantly weaker than expected earnings and cash flow and the risk that the increasingly difficult operating environment will challenge its ability to achieve the appropriate level of returns on its current investments and return EBITDA and EBITDA margins back to their previous levels.”
G Fuel Names New CEO, Secures Investment
G Fuel, a brand of caffeinated drink mix sold by Gamma Labs, appointed Bryan Crowley as CEO while securing a “significant cash investment” from Kingswood Capital Management and First Bev.
SGB Media Thanksgiving Schedule
In observance of the Thanksgiving holiday, SGB Media is taking time to be with family and will not publish the SGB Evening Update on November 22 or the SGB Morning and SGB Evening Updates on November 23, or November 24. Publishing will resume on November 27, 2023.
