Standard & Poors (S&P) affirmed the debt ratings of Under Armour as the firm’s credit metrics have improved as a result of reduced restructuring costs, driving EBITDA margin expansion and higher cash flow generation. The agency did note that the potential ratings impact of the recently revealed accounting investigation by the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) is uncertain
Author: SGB Media
American Outdoor Brands To Spin Off Outdoor Products Division
American Outdoor Brands Corp. on Wednesday announced that its board of directors has unanimously approved proceeding with a plan to spin-off its outdoor products and accessories business as a tax-free stock dividend to its stockholders.
Canada Goose Shares Sink On Fears Over Hong Kong Disruption
Despite Canada Goose Holdings Inc.’s upbeat second quarter—which included revenues doubling in Asia—its shares tumbled $4.22, or 10.8 percent, to $34.82 at market close Wednesday on the news that political turmoil in Hong Kong is disrupting the company’s operations and sales.
Alterra Mountain Company To Acquire Sugarbush Resort In Vermont
Alterra Mountain Co. on Wednesday announced that it has entered into an agreement to purchase Sugarbush Resort in Vermont, which will bring the company’s total to 15 year-round mountain destinations throughout North America, including the world’s largest heli-skiing operation. Financial terms of the deal weren’t disclosed.
Asics Selects Start-Ups For Asics Tenkan-Ten Accelerator Program
Asics announced five growth-stage start-ups selected from around the world to be part of the global Asics Tenkan-Ten accelerator program. Applications for the program increased by over 60 percent in 2019 and were submitted by start-ups from 38 countries.
USA Cycling Launches New Storytelling Platform For Members
USA Cycling published the first three stories on their newly launched storytelling platform, In Our Own Words. The platform was created to give USA Cycling members a place to share their experiences, passions and interests in their own words – a space to talk about the things that are important to them.
Eight Sleep Secures $40M Investment
Sleep fitness company Eight Sleep has raised $40 million in funding led by Founders Fund with participation from other investors that included Craft Ventures, Khosla Ventures, Y Combinator, 8VC, Flexport founder Ryan Petersen, and Eventbrite co-founder and chairman Kevin Hartz.
Hype and Vice Secures Funding
Hype and Vice (H&V), a Los Angeles-based startup making college licensed apparel for women, has raised $1.5 million in a seed round led by Founders Fund’s Delian Asparouhov.
Whoop Raises $55M in Series D Funding
Whoop, a Boston, MA-based human performance company, closed a $55 million Series D equity and debt funding round.
Ballogy Names James Isch Advisory Board Chairman
Ballogy Inc., the Austin-based software company changing the way youth and amateur athletes train and develop for their sports, named longtime National Collegiate Athletic Association (NCAA) executive James (Jim) Isch, Ph.D. chairman of the Ballogy advisory board.
NFL Invites 32 Teams To Private Kaepernick Workout In Atlanta
“I’m Ready For This.” The NFL has invited all 32 teams to a private workout with free-agent Colin Kapernick for a pro-day-style event including an on-field workout and interview on Saturday in Atlanta, according to a league memo obtained by ESPN. Kaepernick, 32 years old, hasn’t played in the NFL since the final week of […]
Nike To End Pilot With Amazon
Nike will stop selling on Amazon, ending a pilot program that started in 2017. Nike said in a statement, “As part of Nike’s focus on elevating consumer experiences through more direct, personal relationships, we have made the decision to complete our current pilot with Amazon Retail.”
Canada Goose’s Q2 Revenues Climb 27.7 Percent
Canada Goose reported earnings rose 24.5 percent in the second quarter ended September 29 as sales grew 27.7 percent. Both earnings and sales topped Wall Street’s targets. The outerwear maker maintained its guidance for the year.
Wilson Partners With French Tennis Federation
The French Tennis Federation (FFT) and Wilson Sporting Goods entered into a new five-year partnership for Roland-Garros and the FFT.
Iconix Q3 Revenues Fall
Iconix Brand Group Inc. reported revenues slumped 23.2 percent in the third quarter although operating earnings improved.
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