Top Fitness Retailers of 2009


have been teetering. Although down overall, growth in the West came from a table-setting acquisition of the Busy Body assets in NorCal and Alaska. Once the.

special report

Top Fitness Retailers of 2009 SNEWS takes a look in its 7th FitBiz special report at the state of fitness retail. Click here to see the story that accompanies this chart for more detail. Archives of past FitBiz reports can be found by clicking here.

Top Fitness Retailers 2009: Specialty Business Name/ Store Name

Contact Info

1. Home Fitness Group/Scott Egbert

Store Nos. 2009

Change from 2008

AK, CA, IL, IN, MI, MN, OH, WA, WI, UT

52

down 7

States

FitBiz Says... The good news is that slow growth and smart pullbacks have kept this network of related but independent “Home Fitness” stores in the game when others around have been teetering. Although down overall, growth in the West came from a table-setting acquisition of the Busy Body assets in NorCal and Alaska. Once the economy glimmers a bit brighter, we’ll bet that area could show some expansion.

• Chicago Home Fitness

1205 Butterfield Rd. Downers Grove, IL 60515 630-725-9100 chicagohomefitness.com

IL, IN

22

down 2

• American Home Fitness

600 West Maple Troy, MI 48084 248-720-2550 americanhomefitness.com

MI, OH

10

down 5

• North Star Home Fitness

1935 Beam Maplewood, MN 55109 651-748-0126 northstarhomefitness.com

MN

6

down 2

• Northern Home Fitness

1306 S. 108th St. West Allis, WI 53214 414-476-5030 northernhomefitness.com

WI

2

down 2

• Precor Home Fitness

15400 N.E. 20th St. Bellevue, WA 98007 425-603-0400 precorhomefitness.com

AK, CA, WA

9

up 4

• Utah Home Fitness

10875 S. State St. Sandy UT 84070 801-816-1900 utahhomefitness.net

UT

3

0

2. 2nd Wind Exercise Equipment

7585 Equitable Dr. Eden Prairie, MN 55344 952-544-5249 2ndwindexercise.com

IL, IN, IA, MN, MO, ND, NE, SD, WI

50

down 35

Back down to less than half of its locations from two years earlier, 2nd Wind’s retrench still leaves it the leader in several areas and in just as many states as before.

3. Gym Source

40 E. 52nd St. New York, NY 10021 212-688-4222 gymsource.com

AZ, CT, FL, MA, MD, NJ, NY, PA, RI, VA

29

down 1

Not necessarily expecting a full turnaround at fitness retail for a number of years, Gym Source shut just one door but plans to open three new ones in the first half of ’10.

4. Fitness Resource

2721 Dorr Ave. Fairfax, VA 22031 703-849-8300 fitnessresource.com

VA, MD, GA

25

down 1

An emphasis still for this Southeastern chain is to keep costs under control as the economy is still turning and to work on establishing higher sales and greater efficiencies. FR Cycling opened in 2009 as a test.

5. FitCorp USA

2330 Apollo Circle Carrollton, TX 75006 972-416-7200

TX

18

down 2

• Fitness Headquarters

fitnessheadquarters.com

TX

8

0

• Busy Body of Dallas

busybodytx.com

TX

6

0

• Fitness In Motion

fitnessinmotiontx.com

TX

4

down 2

One of many still managing a tight ship that was pared back slightly as the economy sank. This year could signal some growth, albeit conservatively as always, although Texas generally didn’t take the economic hit that other states did. With some competitive retail names disappearing, one will appear this year adding competition in the Lone Star state. Continued...

©Copyright 2010 by SNEWS® • All rights reserved • No reprints or use without written permission • www.snewsnet.com

1

FitBiz by SNEWS MARCH 2010

special report

Top Fitness Retailers 2009: Specialty Business Name/ Store Name

Contact Info

States

Store Nos. 2009

Change from 2008

FitBiz Says...

6. G&G Fitness

7350 Transit Rd. Williamsville, NY 14221 716-983-1448 livefit.com

NY, OH, PA

17

0

7. Leisure Fitness II

316 Markus Court Newark, DE 19713 302-266-0624 leisurefitness.com

DE, MD, NJ, PA, VA

15

up 6

When others were closing and rearranging, Leisure continued to open new locations on the Eastern seaboard, adding one state but six more stores.

8. Eclat Inc.

10516 Old Katy Rd, Ste A Houston, TX 77043 832-358-1702

TX

13

0

bbhouston.com

TX

6

0

• Fitness Unlimited

fitnessunlimited.net

TX

6

0

Only repositioning two stores to best manage overhead, the group run by Stan Terry is staying closely aligned to the brands it does work with -- and, as the economy shows recovery signs, upping its advertising budget. Low prices will remain important since customers still are demanding “value.”

• Winston Fitness

winstonfitness.com

TX

1

0

9. Busy Body/Gyms To Go

910 S.W. 2nd Place Pompano Bch, FL 33069 954-781-1787 gymstogo.com

FL, GA

13

down 5

Moving locations or renegotiating leases, the Gyms To Go business is also now in the health club game with its Busy Body Fitness Centers. If opportunities are presented, expect the GTG team to take advantage.

10. HealthStyles

P.O. Box 1934 Glenwood, CO 81602 970-928-9345 healthstylesexercise.com

CO

10

down 1

Paring back on just one extraneous location, HealthStyles is simply working to negotiate leases, keep costs down and make sure promotion is in place. Expansion is not in the books this year, which will still be a conservative one.

11. Push Pedal Pull

515 N. Garfield Circle Sioux Falls, SD 57104 605-334-7740 pushpedalpull.com

IA, ND, NE, OK, SD

9

0

12. Busy Body Home Fitness (new)

9990 Empire St. San Diego, CA 92126 949-244-3983 busybody.com

CA

8

up 8

Buying the remaining West Coast assets of FHI’s Busy Body, The Gym Store LLC quickly re-opened seven locations in the Los Angeles and San Diego areas, then wrapped in single-store OC Gym Equipment to become eight.

13. Fitness Showrooms

114 Smith St. Poughkeepsie, NY 12601 845-298-8800 fitnessshowrooms.com

NY

6

up 1

One retailer that has continued to grow, Fitness Showrooms added a door in ’09. For ’10, there is yet another storefront in New York City, more commercial reps and e-tail, with an eye out for other opportunities.

14. Fitness Outlet

13407 N.E. 20th St. Bellevue, WA 98005 425-957-4707 thefitnessoutlet.com

CA, WA

6

up 1

After closing one of its two stores in CA, the two-state chain waited more than a year for just the right timing and location -- and found it in a former Busy Body location site. That returned it to six stores -- 4 in WA and 2 in CA.

• Busy Body of Houston / Pre-Owned Fitness

A conservative approach has kept G&G (and its brand, The Fitness Store) hanging on to its numbers as the ship runs as squeaky tight as possible. Some lease restructuring or relocating may still be on the horizon.

Still in five states, still with nine locations, Push Pedal Pull feels its strength is customer loyalty. Without brick-and-mortar changes planned, the push continues to keep loyalty and service strong.

Continued... ©Copyright 2010 by SNEWS® • All rights reserved • No reprints or use without written permission • www.snewsnet.com

2

FitBiz by SNEWS MARCH 2010

special report

Top Fitness Retailers 2009: Specialty Business Name/ Store Name

Contact Info

States

Store Nos. 2009

Change from 2008

FitBiz Says...

15. Fitness Expo

4124 Veterans Blvd. Metairie, LA 70002 504-887-0880 fitnessexpostores.com

LA, MS

6

0

Still at 6 locations, counting a commercial showroom, Fitness Expo believes in covering larger areas from each store to contain costs. Owning the buildings helps in this economy, which is soft in the South.

16. Fitness Systems

210 Gothic Court Franklin, TN 37067 615-771-4806 fitnesssystemsinc.com

AL, KY, TN

6

down 1

With a strong commercial division and a total exit from Florida, the Tennesseebased regional chain has managed to keep sales pretty even. Also, it has cutback on print advertising and has focused more on marketing via social media.

17. Fitness Showcase

1221 W. 103rd St. Kansas City, MO 64114 816-942-9300 fitness-showcase.com

IL, MO

6

down 1

Showcase is down to two states after pulling out of Arkansas and is working to keep an even keel -- no more closures, but also no more growth right now. Just focus on doing the best job selling what it can.

18. AtHome Fitness

4320 W. Chandler, #5 Chandler, AZ 85226 480-940-1022 athomefitness.net

AZ

5

up 1

19. Health & Fitness Equipment

35665 Curtis Blvd. Eastlake, OH 44095 440-946-0839 healthandfitnessohio.com

OH

5

0

Steady as she goes -- Health and Fitness is one of just a few that just keep plugging along. The one-state chain did move one location, doubling that store’s size in the process. This year’s approach is conservative.

20. Total Fitness Equipment

3281 Berlin Turnpike Newington, CT 06111 860-667-1099 totalfitnessequipment.com

CT

4

up 3

With the Northeast in change and turmoil for the last 18-24 months, TFE moved in quietly with its first store in ‘08, then jumped up three more in 2009 to fill in gaps it saw in CT. Likely it will remain in CT…for now.

21. Precision Fitness Equipment

217 W. Central St. (Rte 135) Natick, MA 01760 508-655-0288 pfe-inc.com

MA, NH

4

0

22. Better Body Fitness of Montana

1400 Euclid Ave. Helena, MT 59601 406-449-4672 betterbodymontana.com

MT, WY

4

up 1

Plans are always being hatched at BB; for now, leases are being renegotiated to cut costs, but the emphasis is not just on the lowest prices in an attempt to maintain margins. “Lean and mean” is the motto of the day.

23. Exercise Equipment Northwest

16074 S.E. 106th Ave., Ste. 200 Clackamas OR 97015 503-594-0500 exerciseequipmentnorthwest.com

OR

4

0

What can we say? Exercise Equipment NW is another retailer that just keeps chugging along, with an eye on its state, its market and its stores, come what may.

24. Fitness Shop

13900 N.E. 20th St. Bellevue, WA 98005 425-643-1033 fit-shop.com

OR, WA

4

0

Fitness Shop is taking an aggressively conservative approach right now, sizing up brands, margins and being extra cautious to remain in a strong position. Above all, mutually supportive vendor partnerships are the way to go.

Another bucking the trend, AtHome Fitness added another storefront. Actually, it opened two but replaced one that it closed as it re-jiggered locations. That fueled the goal of lowering lease costs but not store size or quality.

Long-timer Precision sits in Massachusetts letting all the turmoil swirl around it as it just keeps doing its business, following its 22-year-old business plan and focusing on growing its market.

©Copyright 2010 by SNEWS® • All rights reserved • No reprints or use without written permission • www.snewsnet.com

3

FitBiz by SNEWS MARCH 2010

special report

Top Fitness Retailers 2009: Sporting Goods Business Name/ Store Name

Contact Info

Store Nos. 2009

Store Nos. 2008

FitBiz Says...

1. Hibbett Sports (Nasdaq: HIBB)

451 Industrial Ln. Birmingham, AL 35211 hibbett.com

743

726

New store opening plans for ‘09 were more moderate than anticipated as Hibbett chose to revamp many existing stores with a new look. When the economy improves, its goal will be to accelerate growth.

2. The Sports Authority

1050 West Hampden Ave. Englewood, CO 80110 thesportsauthority.com

464

450

Still in 45 states, the Sports Authority chain went through modest growth with new stores in Washington and Florida, as well as face-lifts for stores in California, Hawaii and Oregon.

3. Big 5 Sporting Goods (Nasdaq: BGFV)

2525 East El Segundo Blvd. El Segundo, CA 90245 big5sportinggoods.com

384

381

The first half of ‘09 wasn’t kind to Big 5’s sales as consumers kept a tight rein on spending. The no-frills retailer, however, experienced a late-year turnaround with higher sales and trimmed expenses.

4. Dick’s Sporting Goods (NYSE: DKS)

300 Industry Dr. RIDC Park West Pittsburgh, PA 15275 dickssportinggoods.com

420

398

Leveraging opportunities to double the size of its chain nationwide remains Dick’s long-term goal. Key areas of growth include Florida, Texas and California. In Q2 ‘09, it completed the integration of Chick’s stores to Dick’s.

5. Olympia Sports

5 Bradley Dr. Westbrook, ME 04092 olympiasports.net

179

183

Despite a long-term goal of opening 15-20 stores yearly, Olympia slid back from last year’s numbers as the economy wasn’t kind to retail and the company battened down the hatches. Massachusetts is on the horizon in ‘10.

6. Dunham’s Sports

5000 Dixie Highway Waterford, MI 48329 dunhamssports.com

159

153

With a start as a bait and tackle shop in the ‘30s, Dunham’s Sports eventually morphed into a complete sports outfitter serving 12 Midwestern states. Like other retailers, it kept its ‘09 new store openings at a modest pace.

7. Modell’s Sporting Goods

498 Seventh Ave., 20th Flr New York, NY 10018 modells.com

144

144

Considered one of the oldest, family-owned sporting goods retailers in the country, Modell’s store count remained status quo for ‘09 -- maybe a strategy to ensure it sticks around for another 100 years.

8. Academy Sports and Outdoors

1800 N. Mason Rd. Katy, TX 77449 academy.com

120

105

Unlike other sporting goods retailers, Academy bumped up its store count in ‘09, expanding further into the 11 states it inhabits in the Southeast region, including openings in Texas and Alabama.

9. MC Sports

3070 Shaffer S.E. Grand Rapids, MI 49512 mcsports.com

80

80

True to its word, Midwest-based MC Sports stayed conservative in ‘09 and did not open any stores in its eight-state region. The goal for the year was to remodel existing stores and ride out the recession.

10. Sport Chalet (Nasdaq: SPCHA & SPCHB)

One Sport Chalet La Canada, CA 91011 sportchalet.com

55

55

After expanding outside its core California market into other states, the economy dropped out from under Sport Chalet. Battered by weak “macro-economic” trends every quarter, new stores are not forecast anytime soon.

11. Scheels All Sports

4550 15th Ave. South Fargo, ND 58103 scheelssports.com

23

23

Plans to expand into two more states -- Kansas and Illinois -- with mega-stores of about 200,000 square feet have been postponed until ’11 or ’12. It also partnered with a social business software company to update its online retail site.

*Play It Again Sports (Nasdaq: WINA)

4200 Dahlberg Dr., Ste. 100 Minneapolis, MN 55422 playitagainsports.com

877

870

Winmark creates and finances franchise businesses in various industries, including its Play It Again Sports brand which deals in new and used sport/fitness equipment and makes up about 350-400 franchises in Winmark’s arsenal.

©Copyright 2010 by SNEWS® • All rights reserved • No reprints or use without written permission • www.snewsnet.com

4

FitBiz by SNEWS MARCH 2010

special report

Top Fitness Retailers 2009: Mass Business Name/ Store Name

Contact Info

Store Nos. 2009

Store Nos. 2008

1. Wal-Mart (NYSE: WMT)

702 Southwest 8th St. Bentonville, AR 72716 walmart.com

3,550

3,503

2. Sears Holdings Corp. (Nasdaq: SHLD)

3333 Beverly Rd. Hoffman Estates, IL 60179 searsholdings.com

3,519*

3,509**

3. Target (NYSE: TGT)

1000 Nicollet Mall Minneapolis, MN 55403 target.com

4. Costco Wholesale Corp. (Nasdaq: COST)

999 Lake Drive Issaquah, WA 98027 costco.com

(*1,327/Kmart, 2,192/Sears)

(**1,378/Kmart, 2,131/Sears)

1,740

1,683

413

403

FitBiz Says... Wal-Mart wasn’t immune to the economy and reported consecutive quarterly declines in samestore sales. It’s focused on store remodels vs. store openings, updating 30 percent of its stores in ’09. That initiative will continue in ’10. After 3+ years of sales and profit stagnation, the Kmart segment is finally posting slight upticks in same-store sales. Sears is still hindered, though, by weak sales in its big-ticket items and will see at least 20+ stores close in 2010. After being rattled by the slowing economy in ’08, Target started to see a light at the end of the tunnel with increased sales -- that, along with controlling inventories and expenses, allowed it to post a slight bump in FY ’09 sales. Costco has been more resilient during the recession as shoppers limited spending to necessities, but falling prices on goods has caused it to slash consumer prices thus reducing its margins and profit. It plans to open 16-18 stores in ’10.

No part of FitBiz may be reproduced in whole or in part or used for redistribution or promotional purposes without the written consent of SNEWS. Contact [email protected] for reprint details and restrictions. ©Copyright 2010 by SNEWS® • All rights reserved • www.snewsnet.com

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