Montreal, Quebec-based Dorel Industries Inc.—whose bike brands include Cannondale, Schwinn, GT, Mongoose, Caloi, and IronHorse—this week reported revenue for the fourth quarter of $653.4 million, down 4.4 percent from $683.5 million a year ago. Cannondale stood out for the company in Q4. Dorel also announced plans to bolster its European Cycling Sports Group operations to support Cannondale’s growth there.
Author: SGB Media
NCAA, NBA, NHL, MLB And PGA Respond To Coronavirus
Following the NBA’s move to suspend its season Wednesday following news of a player testing positive for coronavirus, the NCAA announced it canceling the March Madness basketball tournament. The NHL and PGA Tour also announced suspensions and MLB said it would delay its season start.
Genesco’s Comps Inch Up 1 Percent In Q4
Genesco Inc., the parent of Journeys, reported earnings on an adjusted basis grew 42 percent in the fourth quarter as comp sales rose 1 percent.
Canadian Tire Appoints New CEO
Canadian Tire Corporation Ltd., the parent of SportChek and Helly Hansen, appointed Greg Hicks as president and chief executive officer of Canadian Tire Corporation.
Clarus To Acquire Protective Case Maker S.K.B. Corp.
Clarus Corp., the parent of Black Diamond, announced it has entered into a definitive agreement to acquire privately-held S.K.B. Corporation (SKB), a leading manufacturer of protective cases, for $85 million in cash and 1.15 million shares of Clarus common stock.
Modell’s Files For Bankruptcy, Plans To Liquidate
Modell’s Sporting Goods filed for Chapter 11 bankruptcy protection in New Jersey. The family-owned retail chain will begin liquidation sales in all stores and plans to continue its online sales during the process.
Roger Federer Gets RF Logo Back From Nike
Roger Federer, who left Nike to join Uniqlo in 2018, has obtained the rights to his “RF” logo from Nike, according to Tennis.com.
2020 Bicycle Leadership Conference Rescheduled To September
The 2020 Bicycle Leadership Conference (BLC), originally slated for April 14 to 16, has been rescheduled for September 29 to October 1 in Monterey, CA. The BLC is a PeopleForBikes event that has been produced in partnership with the Sea Otter Classic (SOC) for the last 11 years.
USA Cycling Announces Jim Miller’s Return As Head Of Elite Athletics
USA Cycling President and CEO Rob DeMartini announced Scott Schnitzspahn’s resignation and Jim Miller’s return to USA Cycling.
Safoli Group’s 2019 Growth Boosted By Smith Optics
Safoli Group S.P.A., the parent of the Smith Optics brand, reported sales in 2019 grew 3.1 percent on a reported basis and gained 0.9 percent at constant exchange rates.
SportsEngine Partners With USA Football
SportsEngine Inc., a leading provider of sport relationship management software, has signed on as the official provider of abuse prevention training for USA Football. In addition, SportsEngine’s subsidiary, National Center for Safety Initiatives (NCSI), is a new and preferred USA Football provider of youth football volunteer background checks.
Academy Sports Partners With Big 12
The Big 12 Conference and Academy Sports + Outdoors announced a new multi-year partnership featuring the first-ever title sponsorship of Big 12 Football Media Days.
HanesBrands Announces Executive Leadership Succession
HanesBrands, the parent of Champion, announced that Gerald W. Evans Jr. has notified the company’s board of directors of his decision to retire at the end of the current fiscal year, which ends Jan. 2, 2021.
While Clarus Hints At M&A, Black Diamond Shines In Q4
John Walbrecht, president of Clarus Corp. and its flagship brand Black Diamond (BD), said the Salt Lake City, UT-based company could be adding another asset to its portfolio that also includes Sierra Bullets, Pieps and SKINourishment. His comments came after a strong Q4 led by double-digit growth at Black Diamond.
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