Louis Garneau, the cycling apparel specialist, has filed for protection under the Bankruptcy and Insolvency Act in Canada. The company also announced the “temporary” layoffs of 66 employees at its corporate offices in Quebec.
Author: SGB Media
Boardriders’ Debt Ratings Downgraded
Moody’s Investors Service downgraded Boardriders Inc.’s ratings, including the corporate family rating to Caa1 from B3, probability of default rating to Caa1-PD from B3-PD, and secured term loan rating to Caa1 from B3. The outlook is stable.
Fox Factory’s Q4 Sales Climb 18.5 Percent
Fox Factory Holding Corp. reported earnings on an adjusted basis rose 12.9 percent on an 18.5 percent revenue gain.
BSN Sports Acquires Nill Bros. Sports
BSN Sports announced that it has acquired Nill Bros. Sports, based in Kansas City, KS. Nill Bros. has been family-owned and operated by the Nill family since its founding in 1960 and services Kansas and Missouri.
Outdoor Retailer Issues Statement On Coronavirus Outbreak
Outdoor Retailer said Tuesday evening that while it’s closely monitoring the coronavirus situation, right now the company is “actively planning” to host the annual Summer Market June 23-25 at Colorado Convention Center in Denver, CO.
Lilly Pulitzer Partners With Women’s Tennis Association
Lilly Pulitzer announced a partnership with the WTA (Women’s Tennis Association). The two brands are uniting for a youth empowerment initiative, aimed to inspire confidence and optimism in future generations as part of Lilly’s new “Be the Sunshine” campaign. Lilly Pulitzer will also serve as the WTA’s exclusive fashion uniform provider.
Ross Stores Sees 4 Percent Comp Gain In Q4
Ross Stores Inc. reported earnings per share for the 13 weeks ended February 1, 2020 grew 7 percent to $1.28 on net income of $456 million. Sales for the fourth quarter of 2019 were $4.4 billion, with comparable-store sales up 4 percent on top of a 4 percent gain in the prior-year period.
Urban Outfitters’ Q4 Earnings Slump
Urban Outfitters Inc. reported earnings on an adjusted basis fell 45.6 percent in the fourth quarter. Comparable Retail segment net sales increased 4 percent, driven by growth in the digital channel, partially offset by negative retail store sales
REI Closes Corporate Campuses Over Coronavirus Precautions
REI, based in Seattle, is temporarily closing three corporate campuses in Washington state to conduct a deep cleaning process after learning that two headquarter employees may have been exposed to coronavirus. REI’s King County and Alderwood stores are also undergoing a deep cleaning.
NAHBS Postpones Show Due To Coronavirus
The North American Handmade Bicycle Show on Tuesday announced it would postpone its event, scheduled for March in Dallas, TX, due to concerns over the coronavirus and reschedule it for August.
Bill Hicks & Co. Names Moeller Director Of Sales
Bill Hicks & Co. Ltd., a distributor of wholesale sporting goods, on Tuesday announced the addition of Randy Moeller to its executive team in the new role as director of sales.
Nordstrom Posts Q4 Miss, Updates Corporate Structure To Sole CEO
Nordstrom Inc. on Tuesday reported earnings per share for the fourth quarter ended February 1 of $1.23, including a charge of 19 cents, which missed Wall Street’s expectations by 6 cents. The company also announced it will transition from its co-president structure to a sole CEO, with Erik Nordstrom to serve in this role.
Montane Acquired By Edinburgh-Based Inverleith
Montane, the U.K. outdoor clothing and accessories company, said Edinburgh-based specialist consumer brand investor Inverleith LLP has secured a majority stake in the company.
IHRSA Commits To March Show In San Diego
IHRSA said it is “carefully monitoring” developments related to the coronavirus outbreak but plans to hold the IHRSA 2020 fitness show that runs from March 18 to 21 in San Diego. Numerous hand sanitizing stations will be available during the event. IHRSA will also encourage a no-contact policy such as no handshakes, hugs or kisses.
SparBar To Fight Counterfeiters
SparBar Inc., the pioneers of SparBar boxing, mixed martial arts (MMA) and fitness equipment, has engaged four international copyright infringement law firms to aggressively defend the company’s inventions and intellectual property (IP).
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