Sporting Goods Industry News for January 26, 2021
According to a new report from the World Federation of the Sporting Goods Industry and McKinsey, 2020 revenues declined 7% to 12% across all regions except China, which posted 14% growth on its faster pandemic recovery.
The Eager Beavertons have asked the European General Court in Luxemburg for the annulment of an investigation by the European Commission into the tax status of its Dutch-based European operations, according to Reuters.
The struggling department store chain has entered into a restructuring support agreement with majority shareholder Sycamore Partners and debt holders that leaves trade suppliers unimpaired and allows Belk to continue normal operations.
The British retail conglomerate confirmed it is looking at funding options to finance future strategic opportunities following a report from Sky News that it was planning a £400 million share offering as early as this week.
The U.S. Court of Appeals for the Federal Circuit denied Hoist Fitness Systems motion to rehear the patent infringement case against TuffStuff over its selectorized Bio-Arc exercise machines.
The Sports & Fitness Industry Association annual competition for the best new business concepts and products will be held virtually this year.