Duluth Holdings Inc., the parent of Duluth Trading, reduced its outlook for sales and earnings for the year after reporting second-quarter results that came in below Wall Street targets. Stephen Schlecht, the company’s founder who just reassumed the role of CEO, said, “We know that our performance in the first half of this fiscal year fell below our expectations, and that now all our attention and resources must be completely focused on delivering a successful fourth quarter.”
Author: SGB Media
True Diamond Science Creates Advisory Panel, Welcomes Former MLB Players
True Diamond Science announced the formation of its Advisory Panel with former major leaguers Mark McGwire, Edgar Renteria, Eric Byrnes and seven others as founding members. The division of True Sports, Inc. aims to disrupt the youth baseball industry with its bat fitting process and wide range of sizing options.
Anytime Fitness’ Parent Company Acquires The Bar Method
Self Esteem Brands, the parent company of Anytime Fitness, has purchased The Bar Method – a popular, low-impact fitness franchise with 123 studios across 30 states and Canada.
Celsius to Acquire Nordic Wellness Company Func Food Group Oyj
Celsius Holdings Inc., maker of the leading global fitness drink based in Boca Raton, FL, plans to acquire Func Food, a Finnish corporation. Func Food makes beverages, protein bars, supplements and superfoods under the brands Celsius, FAST Sports Nutrition, CocoVi and FitFarm.
Under Armour Returns As 3M Half Marathon Presenting Sponsor
High Five Events on Wednesday announced the return of Under Armour Inc. as presenting sponsor of the 3M Half Marathon.
Colorado Classic Sets 2020 Dates
The Colorado Classic, presented by VF Corp., plans to return next year on August 27-30, 2020 (pending UCI approval of the dates) with a similar all-women’s format, along with VF as the presenting sponsor, organizers announced Wednesday.
Ross Dress For Less To Open Store In Perris, CA
Ross Dress for Less announced Wednesday it will open a new store in Perris, CA, on October 12.
Conservation Alliance Contributes $900,000 In Grants To 22 Organizations
The Conservation Alliance sent grants totaling $900,000 to 22 organizations working to protect wild places throughout North America. This is the organization’s single largest grant disbursal since The Conservation Alliance was founded in 1989. The grants put the organization on track to contribute $2 million in 2019, another record.
Report: Herschel Supply Seeking Buyer
Herschel Supply Co. has retained J.P. Morgan to explore a sale, according to a report from Women’s Wear Daily (WWD).
Vans To Donate $1 Million On Vans Checkerboard Day
Vans on Wednesday announced the inaugural Vans Checkerboard Day to be held on November 21, 2019. The brand, which is owned by VF Corp., will donate $1 million of global sales made through the brand’s owned retail locations and Vans.com to Imagination.org, powered by Two Bit Circus Foundation.
Wolverine World Wide Announces New $400 Million Share Repurchase Program
Wolverine World Wide Inc. on Wednesday announced that its board of directors has approved a new, four-year share repurchase program, authorizing up to $400 million in share repurchases that is incremental to the remaining balance of the company’s share repurchase program that was authorized in February 2019.
Finish Line Making Progress For JD Sports
JD Sports, the U.K.-based sports fashion retailer, delivered stellar results in the first half as EBITDA (earnings before taxes, interest, depreciation & amortization) rose 37 percent on a 12 percent same-store gain at its core Sports Fashion banners. Just as encouragingly, same-store sales at Finish Line grew 5 percent including both physical stores and online in a continued promising start to its U.S. entry.
JCPenney Announces Colin Dougherty as SVP, Finance
J. C. Penney Co. Inc. announced that Colin Dougherty, a senior executive with more than 25 years of finance experience, will join the company on September 23 as senior vice president, finance, reporting to CFO Bill Wafford.
Wall Street Reacts … Vista Outdoor’s Investor Day
Analysts generally came away impressed with Vista Outdoor team’s full probe of its turnaround strategy provided at its Investor Day held Tuesday in New York City, although a number of headwinds, particularly in the hunt space, is keeping a few from turning bullish on the company.
Aqua Lung Group Names Matthieu Bazil CEO
Aqua Lung, a designer, manufacturer and distributor of dive and watersports equipment for 75 years, has appointed Matthieu Bazil as CEO, effective immediately. Bazil will be based from the Aqua Lung Group offices in Carros, France.
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