Under Armour Raises Full-Year Guidance On Strong Q3 Beat
Under Armour, Inc. raised its earnings guidance for the year as its earnings for the fiscal third quarter ended December 31 easily topped Wall Street’s targets as gross margin pressures were offset by cost controls. Sales were slightly above consensus targets. One area of concern was inventory levels, which were up 50 percent.
NRF: February Imports Expected To Be Lowest In Nearly Three Years
According to the Global Port Tracker report released by the National Retail Federation and Hackett Associates, import cargo volume at the nation’s major container ports is expected to drop to nearly its lowest level this month since the beginning of the pandemic.
Titleist Parent Acquires Club Glove
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported it had purchased the Club Glove brand from West Coast Trends, Inc.
Delta Apparel Posts Loss On Inflationary Pressures
Delta Apparel logged a loss in the fiscal first quarter ended December 31 due to inflationary raw material costs and production curtailment expenses. The company was impacted by reduced demand in the mass retail supply chain served by its Delta Direct channel.
OutsidePR Adds Account Manager
Hailing from Vermont, OutsidePR hired Zachary Levy as an account manager.
Wittek Golf Supply Names Operations Manager
Wittek Golf Supply has named David Huntzinger as operations manager at its Lyons, GA facility where the company manufactures golf flags, embroidery, screen printing, and sewing.
Signa Sports Posts €566 Net Loss In 2022; Sees Bike Overstocks Into 2024
Signa Sports United N.V. posted 28 percent growth in net revenue to €300 million in the fourth quarter and revenues grew 31 percent to €1.063 billion for the full year on a reported basis.
Canada Goose Targets C$3 Billion In Revenue In Five Years
Canada Goose Holdings, Inc. ahead of its Investor Day, said it aims to nearly triple revenue to Canadian$3 billion (C$2.23 billion) in the next five years as it triples its store base and expands its categories and geographic reach.
BRC Points To Return To Office Trends Driving Retail Foot Traffic In January
The British Retail Consortium (BRC) reported that total U.K. retail foot traffic increased 12.5 percent year-over-year (YoY) in January, 2.6 percentage points worse than December but better than the three-month average increase of 10.3 percent.
Hanesbrands’ Debt Ratings Downgraded By S&P And Moody’s
Hanesbrands, Inc.’s debt ratings were lowered by S&P Global Ratings and Moody’s Investors Service after the parent of Hanes and Champion reported fiscal 2022 results below expectations and the suspension of its annual dividend to prioritize debt repayment.
SquadLocker Sets CEO Transition
SquadLocker named George Overholser as chief executive officer. Overholser succeeds Gary Goldberg who will transition to a president and founder title.
Wolverine’s Debt Rating’s Lowered Following Q4 Guidance Update
Moody’s downgraded the debt ratings on Wolverine World Wide, Inc. due to the footwear maker’s updated Q4 2022 guidance, which was lower than previously projected by Moody’s, as well as Moody’s expectation that leverage will remain high over the next 12-18 months.
Belk’s Debt Ratings Downgraded On Weak Results
Belk, Inc.’s debt ratings were downgraded by S&P Global Ratings as the southeast department store operator’s sales and profitability have weakened significantly, well below S&P’s expectations.
REI Agrees To Hold Union Elections At Cleveland Store
REI agreed to hold a union election vote on March 3 at its Beachwood, OH store following a hearing on Friday with the National Labor Relations Board.
Action Sports In Brandford To Close
Action Sports plans to close its store in Brandford, CT, at the end of April. The retailer’s second location in Old Saybrook will remain open.
