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March 02, 2022


Russian Ukraine Invasion Stops Trade, Triggers Sanctions

The logistics turmoil and boycotts continue to mount for Russian sporting organizations and companies doing business there triggered by that country’s ongoing invasion of Ukraine.

Signa Sports United Grows Despite Bike Shortage

Reorganization costs and other expenses related to SSU’s reverse SPAC merger sent the bottom line deep into the red, with a net loss of €165.0 million ($188.6 mm) in the fiscal first quarter ended Dec. 31 against a loss of €1.4 million prior, as revenues grew 11% to €212.6 million ($243.0 mm) from €192.2 million.

PLAYTRI Acquires TX Bike Shop

The 15-door triathlon-focused retailer has acquired Buc’s Bike Shop in Round Rock, TX, which has operated in the Austin suburb for over 30 years.

T-H Marine Buys Kayak Brand

The subsidiary of OneWater Marine has acquired YakGear, a Houston, TX-based supplier of kayak equipment, paddle sports accessories, and boat mounting accessories.

New Balance Sees Court Uphold $3.5 Million Award

NB sees a MA District Court judge enforce a $3.5 million arbitration award against its defunct former distributor, Peruvian Sporting Goods S.A.C. (PSG), as well as two other parties, which included awards for breach of contract, tortuous interference, attorney fees, and expenses.

Philly’s Olympia Sports Files for Bankruptcy

Not to be confused with the ME-based chain, Philadelphia-based Olympia Sports, Inc., which does business as Olympia Footwear, filed for Ch. 11 protection in U.S. bankruptcy court.

CPSC Recall: Fitbit Ionic

Fitbit is recalling about one million model FB503 Ionic smartwatches sold in the U.S. because the lithium-ion battery in the smartwatch can overheat, posing a burn hazard.

CPSC Recall: Petzl Pirana

Petzl America is recalling about 3,450 Pirana descender canyoneering devices because the user’s rope can get caught or wedged in the PIRANA blocking slot and stop or suspend the climber.

Etcetera: Kathmandu, Keen, Puma, Brevettar, REI, Nobull

 
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