Vail Resorts, Inc. reported total net revenue increased 14.4 percent, to $2.89 billion for the year ended July 31. Total lift revenue increased 8.4 percent to $1.42 billion in fiscal 2023 due to increases in both pass product revenue and non-pass product revenue but all other Mountain revenue segments were up in double digits for the year.
Author: SGB Media
Nike Misses Revenue Estimates on Weak North America; Profits Beat
Nike, Inc. reported profits slipped 1 percent in the fiscal first quarter ended August 31. Sales grew 2 percent on a currency-neutral basis as double-digit gains in China helped offset a 1 percent decline in North America. Earnings came in well above analyst targets but sales were slightly below.
Salomon Hires President of Salomon Americas
Salomon hired Steve Doolan as president of Salomon Americas, effective October 23, leading the business from its regional headquarters in Ogden, UT.
EXEC: ASOS plc Warns on Fiscal Year Cashflow Issue Due to Timing Effects
The retailer typically receives cash from their sales gross of returns and sales tax immediately. However, the cash outflow from sales tax, returns and variable costs associated with those sales predominantly impacts the following two months. The impact will reverse during September and October.
Enduro Bearings Expands Efforts in Australia, New Zealand
Enduro Bearings inked a multi-year distribution agreement with Lusty Industries in Australia and strengthened its relationship with Performance Recreation Velo in New Zealand.
Trek Bicycle Recalls Allant+ 7 E-Bikes Over Rear Brake Hose Issue
The company said the rear brake hose could kink and break when the handlebar is turned causing the rider to lose control of the bike, posing a crash hazard.
BioSteel Sports Nutrition Files for Creditor Protection, Seeks Buyer
BioSteel Sports Nutrition, Inc., the Toronto-based sports drink manufacturer, filed for creditor protection in the U.S. and Canada and plans to pursue a sale.
Leatt Makes Key Hires To Drive MTB Growth
Leatt Corp. hired two key industry professionals, Bastian Dietz and Dain Zaffke, to propel its mountain biking (MTB) market growth. Dietz was hired as international marketing manager, MTB, focused on growing the company’s international MTB presence, and Zaffke will focus on the U.S. MTB market as VP of sales and marketing.
Lululemon and Xponential Fitness Confirm Ongoing Retail Partnership
Lululemon and Xponential Fitness confirmed that their retail partnership continues following Lululemon’s new five-year partnership with Peloton.
RV Industry Association Elects Three to Board of Directors
Nine candidates were running to fill the three open Board seats in 2023. From that pool, the successful candidates for one RV Manufacturer seat, one Park Model RV Manufacturer seat, and one Supplier seat were elected.
Report: Golf Apparel Sales Weaken in August, Led by Headwear
Golf Datatech reported that golf apparel sales were down in on- and off-course specialty stores for the second straight month in August, falling by 3.5 percent after a 3.6 percent drop in July. The July decline was the first decrease in 18 months
Völkl Names Global Brand Business Director
Völkl promoted Markus Knipschild to global brand business director, a new position, responsible for the strategic direction of the brand.
Pitney Bowes Survey Sees Steady Online Growth This Holiday Season
Pitney Bowes’ BOXpoll survey found that despite conflicting economic indicators, 80 percent of consumers plan to buy online more or the same this coming holiday season as last year.
SFIA Study Finds Americans Continuing Pandemic-Discovered Fitness Routines
The Sports & Fitness Industry Association’s 2023 Tracking The Fitness Movement Report identified that participation in fitness activities grew 5.3 percent, or by 10.4 million people, since 2017. Total fitness participants rose by 800,000 year-over-year in 2022 to 205.8 million, hitting a high of 67.4 percent, surpassing the 67.3 percent rate in 2019 and 2021.
Grundéns Appoints General Manager EMEA
Grundéns hired Janne Mahlamäki as general manager for the Europe, Middle East and Africa (EMEA) region. He was a former executive at Rapala and Jack Wolfskin.
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