Barry McCarthy is stepping down as CEO, president and Board director. The company is also cutting about 400 jobs and reducing retail showrooms in a move to reduce annual run-rate expenses by over $200 million by the end of its 2025 fiscal year.
Author: SGB Media
Banana Republic CEO Departs
Sandra Strangl mutally agreed to leave the company after four years at the helm as parent company, Gap, Inc., transitions to new leadership.
Outerknown, Firewire Surfboards and Slater Designs Merge
Kelly Slater, the eleven-time World Surf League champion, announces that the brands, including Slater Designs Fin Company, LLC, DBA Endorfins, merged under a new holding company effective immediately
Compass Diversified Sees All Q1 Upside Coming from Branded Consumer Group
CODI saw first quarter sales increase 11.0 percent to $375.4 million on a pro forma basis in its Consumer Brands segment, which includes the 5.11, Boa, Primaloft and Velocity Outdoor brands in the active lifestyle market, among other consumer brands.
OrthoLite Adds Two Key Hires to Global Foam Innovation Team
Leading the charge on the expansion of OrthoLite’s Global Foam Innovation team is Shaw Kiat Phua who was hired as global operations chemical director. Ha Pham, a seasoned polyurethane specialist also joins the Global Foam Innovation team.
Camping World Holdings Sees Q1 New Vehicle RV Sales Up in Double Digits
New unit sales outpaced broader RV industry trends, driving record new unit market share for January and February. Same-store new vehicle unit volume increased double-digits in the quarter, with momentum continuing through April.
Saucony Launches Redesigned Triumph 22
The redesigned Triumph 22 features the brand’s PwrRunPB foam, initially created for the Endorphin Pro but now tuned for daily mileage.
REI Co-op to Open Store in College Station, TX
The new store will be the outdoor retailer’s 11th in the state of Texas.
Pentland Brands Names New President of Americas as Matt Rock Steps Down
Spies, formerly the senior vice president of sales for Pentland Brands North America, brings over 17 years of experience from his tenure at Converse, including his last role as vice president of its wholesale business for North America.
Garmin Ltd. Posts Strong Q1 Results with Gains Across All Segments
Revenue from the Fitness segment increased 40 percent, revenue from the Outdoor segment increased 11 percent and revenue from the Marine segment increased 17 percent for the quarter.
Under Armour Taps Yuron White as SVP, Sportswear, Run, Basketball/Curry & Collabs
White joins Under Armour from New Balance, where he was the VP of Global Lifestyle, Basketball and Innovation. Before that, he worked at Nike where, most recently, he was the VP of Performance Sports and Cross Category Concepts.
Amer Sports Divests Cycling Manufacturer ENVE Composites to Utah Firm
Founded in 2007, ENVE is one of the few U.S. cycling brands with all-American in-house manufacturing of high-tech bike performance products, including wheels, components and bikes.
USPTA Signs Multi-Year Deal with Padel Courts Deluxe
The agreement with the USPTA is reportedly not only a step toward the internationalization of Padel in America but also a fusion of visions.
Daisy Manufacturing Acquires Compass Diversified’s Crosman Air Gun Division
The deal gives Daisy ownership of the designer, manufacturer and marketer of air guns, accessories and related consumables sold under the Crosman, Benjamin, Game Face, LaserMax and Centerpoint Optics brands.
Anytime Fitness Master Franchisee Expands Into Germany
Eighty-8 will continue to operate as a local subsidiary of Fast Fitness Japan as the master franchisee for Anytime Fitness in Germany.
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