Sporting Goods Industry News for September 27, 2023
The hard numbers for 2022 matched the headlines in 2023 as the National Retail Federation’s 2023 National Retail Security Survey arrived the same day as Target announced nine urban store closures and flash mobs hit Foot Locker and Lululemon stores in Philadelphia.
The two companies agreed to a five-year partnership where LULU becomes PTON’s primary athletic apparel partner, and PTON becomes the exclusive digital fitness content provider to LULU.
Total U.S. retail footwear revenues dropped by 3% from Jan. through Aug. compared to the year before, Circana reported, and unit sales were also lower.
Authentic Brands Group is partnering with Liberated Brands, in which it holds a minority stake, to be the retail and e-commerce operator for Quiksilver, Billabong, Roxy, RVCA, Honolua and Boardriders in the U.S. and Canada.
S&P Global assigned a BB rating to the proposed $350 million of 7.375% senior unsecured notes due in 2028, and gave a BB issuer credit rating to the Titleist parent.
Twenty-year Silicon Valley veteran, Nick Caldwell was named chief product officer, effective Nov. 1, succeeding the last remaining PTON O.G., co-founder Tom Cortese who will step into an advisory role with the company.
Next Level Apparel appointed retired company founder, Joe Simsoly as interim CEO, following the departure of Randy Hales from the blank supplier, according to ASI.
The family-owned tennis and pickleball retailer that has been serving the Hilton Head Island, SC community since 1982 has been acquired by Daryl and Kathy Daye, as well as Jeff and Heather Yakes from the Jilly family.
The struggling fitness equipment company received a warning letter from the NYSE because NLS shares closed below $1 over a 30 trading-day period.