Acushnet Holdings Corp.’s second-quarter results topped analyst estimates as the momentum in Titleist golf balls and golf clubs offset weakness at FootJoy. David Maher, president and CEO, told analysts, “Supporting the company’s first half results, we are enthused by the golf industry’s overall health and stability with participation remaining vibrant even as golfers return to many pre-COVID activities.”
Month: August 2023
EXEC: Johnson Outdoors Battles Post-Pandemic Slowdown
Johnson Outdoors’ overall profitability benefited from improved pricing in the fiscal third quarter ending June 30, but sales were down 8 percent from a slowdown in the Fishing segment and a continued decline in Camping and Watercraft Recreation. On a call with analysts, Helen Johnson-Leipold, chairman and CEO, said, “We’re seeing consumer demand continue to moderate from the strong pandemic-fueled levels of the past few years.”
Pickleball Kingdom Entering Wisconsin with New Franchisee
The expansion comes as a result of a partnership between Pickleball Kingdom Franchising and Forbici Management Group, Inc.
Life Time Debuts Athletic Country Club and Beach Club in Miami
Life Time Miami at The Falls covers 120,000 square feet with its three-story building and outdoor beach club.
Pentland Brands Simplifying Business Structure; Cutting 90 Jobs
Pentland Brands reported it initiated a new program to “simplify the way its business is organized” to focus on product, digital, consumer data, and analytics; however, it means laying off 90 employees. The second quarter of fiscal 2023 was $400.7 million, a decrease of 1.5 percent, compared to net sales of $406.7 million in the second quarter of fiscal 2022.
Xero Shoes CPO, Dennis Driscoll, Retiring After 44-Year Footwear Career
Long-time global footwear industry veteran Dennis Driscoll is retiring on September 1 after more than 44 years. He has served as chief product officer for Xero Shoes since 2012.
EXEC: L.L.Bean Expands Wholesale to Dillard’s, Moosejaw and Select Independents
L.L.Bean is adding Dillard’s and Moosejaw to its roster of U.S. wholesale key accounts, as well as ten independent specialty retailers in the southeastern U.S. The Maine-based retailer also plans to open four stores, with two in Quebec.
Truewerk Hires Prana Vet as Chief Financial Officer
Truewerk, the direct-to-consumer performance workwear brand, hired Michael Pogue as chief financial officer. Pogue spent eleven years working for Prana and eight years with Guess?, Inc.
EXEC: Nike Opening Chain of Boutique Fitness Studios
The first location will open in West Hollywood, CA this year, with additional openings to follow in Los Angles and across the U.S., according to nikestudios.com
EXEC: Nike Declares Dividend; 22 Percent of Proceeds Go to Knight Family, Foundation
The Nike, Inc. Board of Directors, which is 75 percent controlled by the Knight family, has declared a quarterly cash dividend of 34 cents per share on the company’s outstanding Class A and Class B Common Stock.
Yamaha Marine Looks to Suzuki for Technology Chief Role
The Yamaha U.S. Marine Business Unit hired Grant Suzuki as chief of technology, Advanced Marine Systems, focused on leading and building-out Yamaha’s C.A.S.E. strategy.
Salewa Unveils Progressive Trekking Collection For S/S 2024
Salewa NA, the mountain sports company owned by the Oberalp Group, released its Progressive Trekking Collection ahead of the Spring/Summer 2024 season, featuring products made from natural fibers for newcomers and veteran adventurers. The apparel combines natural fibers, including hemp and merino wool, with synthetic materials and includes the Puez Hemp/Durastretch 2/1 Hybrid Jacket and Pant, made with […]
Xponential Fitness Raises Guidance After Strong Second Quarter
The company saw total revenue for the second quarter increase 30 percent to $77.3 million, up from $59.6 million in the prior-year period. The increase included a corresponding North America same-store sales increase of 15 percent.
Costco’s Same-Store Sales Bounce Back in July
Costco Wholesale’s same-store sales rebounded in July, snapping a two-month negative streak.
Newell Brands Debt Ratings Downgraded
S&P Global Ratings lowered its debt ratings on Newell Brands, Inc. due to its expectations that the company’s debt leverage would remain higher for longer after a weak first half of 2023 and finish the year at well over 5.5x.
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