Profits at the high-end fitness club chain rose 43.1 percent on an adjusted basis in the third quarter on a 17.9 percent revenue gain. Sales were at the low end of guidance but earnings topped expectations.
Author: SGB Media
Arbor Snow Adds To Sales, Marketing and Product Teams
Arbor Snowboarding, the California-based action sports brand, announces new hires and internal promotions across sales, marketing, and products.
West Marine’s Debt Ratings Upgraded on Out-of-Court Restructuring
S&P Global Ratings raised its debt ratings on Rising Tide, doing business as West Marine, after the marine aftermarket retailer was able to complete an out-of-court restructuring, exchanging previous debt for equity consideration and adding new debt to the capital structure.
Stella Int’l Q3 Footwear Shipment Volume Falls in the High Teens
The manufacturer of footwear for Nike, Saucony, Under Armour, Merrell, Timberland and Ugg saw Q3 shipment volumes decrease by approximately 18.7 percent year-over-year, nearly triple the second quarter decline.
Report: VF Corp. Faces Second Activist Investor Threat
VF Corp.’s shares were up about 3 percent in late-afternoon trading on a Bloomberg report that activist investor Legion Partners Asset Management is targeting the company. Legion’s push would follow a move by activist investor Engaged Capital to acquire a stake in VF and call for cost cuts and board changes.
Pure Hockey Set to Open Second Ohio Location
Pure Hockey reported plans to open two stores in Ohio in late October—one in Mayfield Heights and the other in Columbus.
Report: September Golf Rounds Show Uptick
Golf Datatech reported that U.S. golf rounds played were up 1.6 percent year-over-year in September and increased 3.8 percent year-to-date, according to the research firm’s latest National Rounds Played Report for September 2023.
Puma’s Q3 Profits Drop On Currency Effects; Confirms Annual Guidance
Puma’s earnings fell 9.6 percent due to currency headwinds, weakness in North America and higher expenses. However, higher-than-expected revenues due to momentum in Europe, a recovery in China as well as stronger-than-expected margins led the German-based company to reiterate its guidance for the year.
REI To Open Eighth Store In Florida
REI Co-op announced plans to open another new store in Florida on November 10 in Sarasota at University Town Center. The 25,000-square-foot space is the co-op’s eighth store in the state.
Authentic Inks Partnership for Aéropostale Kids Brand
Kidz Concepts will design, manufacture and distribute Aéropostale kids sportswear, activewear, swimwear, and performance outerwear for boys and girls in the U.S.
VF Corp. Appoints Former Nike President to Board
VF Corp. appointed former Nike executive Trevor A. Edwards to the company’s Board of Directors, effective October 22. Edwards served as president of Nike, Inc. from 2013 until 2018.
Vail Resorts Reports Departure of Chief Marketing Officer
Ryan Bennett’s departure, which Vail said would be treated as an involuntary separation under the company’s executive severance policy, and the company expect to enter into a Severance Agreement and General Release with the now former CMO.
Nike Launches Connected Partnership Program with Hibbett Sports
Nike added Hibbett, Inc. as the latest partner for its Connected Partnership loyalty program, enabling its customers to access Nike member products and services.
Puma Names A$AP Rocky as Creative Director, Formula 1 Division
Puma hired A$AP Rocky as the creative director for the brand’s Formula 1 partnership. The rapper will design capsule collections for Puma x F1, the first of which will land at the Las Vegas Grand Prix on November 18.
Steve Madden Acquires Almost Famous
Steven Madden Ltd. has completed the acquisition of Almost Famous, a privately-held maker of women’s apparel for $52 million in cash.
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