1. 9Round Acquires iLoveKickboxing to Expand Kickboxing Fitness Reach
9Round Kickboxing Fitness, the leading kickboxing franchise, has announced its acquisition of iLoveKickboxing (ILKB), a key player in the kickboxing fitness scene. This acquisition not only expands 9Round’s footprint with an additional 56 ILKB locations across the United States and Canada but also reinforces its position as a powerhouse in the fitness industry.
Under the leadership of CEO Shannon Hudson, 9Round is set to leverage this strategic move to make kickboxing more accessible and empower more people on their fitness journey. The company plans to maintain the unique identity and offerings of ILKB, catering to those who prefer a group class environment, while continuing to offer 9Round’s flexible, individual-driven workout experiences.
Both brands aim to serve their communities by providing unmatched fitness experiences, with 9Round focusing on its goal to exceed 100 locations and welcoming new entrepreneurs to its growing franchise network. The acquisition has been met with optimism by former ILKB CEO Dan Castellini, who believes in the combined strength of the brands to promote wellness and the love of kickboxing across the U.S.
This strategic move marks a significant step in 9Round’s mission to build a community of fitness enthusiasts and empower individuals through kickboxing.
2. BowFlex Inc. assigned BFXXQ symbol on OTC Market
BowFlex Inc. (“BowFlex” or “the Company”) announced that its Common Stock has been assigned the symbol “BFXXQ” with respect to quotations on the over-the-counter (OTC) market, following its delisting from the New York Stock Exchange.
BowFlex previously announced the NYSE determination that the Company is no longer suitable for listing after the Company disclosed that the Company and certain of its subsidiaries have voluntarily initiated a Chapter 11 proceeding in the United States Bankruptcy Court for the District of New Jersey. There is uncertainty as to the ultimate effect of this process on the value of the Company’s common stock and stockholders may not receive any value.
The Company is under no obligation to develop or maintain a market in the common stock. The Company cannot provide assurance that its common stock will trade on the OTC Market, that brokers will provide public quotes of the Company’s common stock, or that a market for the Company’s common stock will develop or be maintained. Holders of common stock may not be able to sell or otherwise transfer such common stock.
https://corporate.bowflex.com/investors/press-releases/
3. Technogym and Freehand Architecture team up to present Aura.
Technogym and Freehand Architecture have joined forces on a common project: to create a unique space that redefines the holistic notion of the home and the gym. This is Aura, which is being presented at the MIAD 2024 event.
Technogym and Freehand Arquitectura, a boutique architecture studio, have teamed up to present Aura at MIAD 2024, an event that seeks to showcase the convergence between tranquility and design in the home. The Plaza de Toros de Las Ventas in Madrid has been transformed into the epicenter of the collaboration between the two companies.
At the center of Aura is Technogym’s Personal Line fitness range, designed to integrate in a balanced way in any environment, showing the synthesis between personal care and interior design.
Under the direction of Lourdes Treviño Quiroz, architect and founder of Freehand Arquitectura, this project seeks to transcend the limits of traditional luxury to conceive a space where self-care becomes a complete sensory experience.
The workout merges with a relaxation area equipped with the latest technology, including a spa to revitalize body, mind and soul. Natural materials, serene tones and soft lines intertwine to create an environment conducive to enriching the daily routine, facilitating a state of calm and total rejuvenation.
Thus, Aura is a home gym that represents the union between avant-garde and personal wellness, showcasing contemporary homes towards a new level of sophistication.
4. DICK’S Sporting Goods Announces Strong 2023 Performance and Optimistic 2024 Outlook
DICK’S Sporting Goods, Inc. (NYSE: DKS), the premier U.S.-based full-line omni-channel sporting goods retailer, has reported a commendable performance for the full year ended February 3, 2024. The company saw a 2.4% growth in comparable store sales, buoyed by a 1.6% increase in transactions. The year ended with earnings per diluted share at $12.18 and adjusted non-GAAP earnings per diluted share at $12.91, with both metrics benefiting from an additional $0.19 attributable to a 53rd week in the fiscal calendar.
Looking ahead to 2024, DICK’S Sporting Goods has set its expectations for comparable store sales growth to be within the 1.0% to 2.0% range. Earnings per diluted share are projected to fall between $12.85 and $13.25. Reflecting confidence in its financial health and commitment to shareholder returns, the company has increased its annualized dividend by 10% to $4.40 per share and declared a quarterly dividend of $1.10 per share, payable on April 12, 2024, to stockholders of record as of March 29, 2024.
In alignment with its strategic priorities, DICK’S Sporting Goods successfully executed a business optimization initiative in the fourth quarter of 2023. This initiative, aimed at enhancing organizational efficiency and reducing costs, included a pre-tax charge of $84.8 million primarily for workforce reductions at its customer support center and the consolidation of its outdoor specialty operations, encompassing Moosejaw and Public Lands. This optimization effort underscores the company’s focus on streamlining operations and investing in key strategies to fuel future growth.
DICK’S Sporting Goods’ strong financial performance and strategic business adjustments position it well for continued success in the sporting goods retail sector.
5. ClassPass Expands Inventory and Begins Testing Food & Beverage Offerings
https://www.prnewswire.com/news-releases/classpass-expands-inventory-and-begins-testing-food–beverage-offerings-302086489.html
ClassPass, the premier fitness and wellness membership platform, has announced an exciting expansion into food and beverage offerings, further broadening its mission to connect users with experiences that nurture the soul. This new development integrates fitness, wellness, nutrition, and culinary experiences into the ClassPass app, making it a one-stop shop for health and wellness.
Since adding beauty and wellness services in 2018, ClassPass, under the leadership of Fritz Lanman, CEO of Mindbody & ClassPass, has sought to diversify the experiences available to its members. Recognizing that wellness transcends fitness and varies from person to person, ClassPass now offers healthy dining options to complement its existing array of services. Initially available in select cities, this feature enables members to easily incorporate nutritious meals and snacks into their wellness routines, with plans to expand to more locations and partners.
ClassPass, founded in 2013 and acquired by Mindbody in 2021, revolutionizes the fitness and wellness industry by aggregating top-class fitness studios, gyms, and spas worldwide in a single app. It offers a variety of classes and treatments, from strength training and yoga to massages and acupuncture, catering to the diverse wellness needs of its members.
6. Hyatt Partners with Future for Custom In-Hotel Workouts
Hyatt Hotels has teamed up with the personal training platform Future to offer guests tailored workouts during their stay, catering to the rising trend of wellness travel. This collaboration introduces complimentary guided workouts crafted by Future’s trainers at 26 Hyatt Regency hotels and resorts across the U.S., with plans to expand to more locations throughout the year.
The initiative allows guests to access personalized workout sessions via the Future app, accommodating various fitness levels and preferences. Additionally, Hyatt guests and World of Hyatt members participating in the program will receive a free one-month Future membership, valued at $199.
Rishi Mandal, co-founder and CEO of Future, emphasized the synergy between the program and travelers’ needs for consistent, personalized fitness routines. This partnership underscores Hyatt Regency’s commitment to guest wellness, providing a unique value proposition for those looking to maintain their fitness regimen on the road.
This move is part of a broader trend of integrating fitness into the hospitality industry, with companies like Xponential Fitness, Aktiv Solutions, Peloton, and Alo Moves partnering with hotels to offer branded fitness experiences to travelers. Additionally, startups like Boddy are innovating in the travel wellness sector, highlighting the growing demand for health and fitness integration into the travel experience. Emily Wright, Hyatt’s vice president, noted the importance of meeting guests’ wellness needs seamlessly during their stay.
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