S&P Global Ratings reduced the debt ratings of Wolverine World Wide, Inc. as the footwear manufacturer continues to underperform its expectations with “tough industry headwinds to continue to pressure the company’s operating performance at least over the next several quarters.”
Author: SGB Media
Gympass Secures $85 Million In Equity Funding
Gympass announced it raised $85 million in a Series F funding round at a valuation of $2.4 billion, led by EQT Growth, with participation from Neuberger Berman.
Logo Brands Signs 10-Year Licensing Agreement with Utah Utes
The University of Utah is the company’s 35th strategic partnership. Beginning January 1, 2024, Logo Brands and the University of Utah will enter into a 10-year exclusive agreement in the tailgate and inflatables categories.
Dansko Appoints New President; Fox Transitions to Exec Chair
Dansko promoted Kitty Bolinger to president, effective September 5. Bolinger is currently Dansko’s EVP of sales & marketing. Concurrently, Dansko’s CEO, Jim Fox, will transition to the newly created role of executive chairman.
Winchester Ammo Parent Acquires White Flyer Targets
The acquisition includes White Flyer’s five state of the art manufacturing facilities in Coal Township, PA; Dalton, GA; Webb City, MO; Knox, IN; and, San Bernardino, CA and includes White Flyer’s recently announced Eco Flyer target product line.
Urban Outfitters Profit Jumps 75 Percent in Second Quarter
Profits at Urban Outfitters, Inc. surged 75.0 percent in the second quarter ended July 31 as sales grew 7.5 percent and margins benefited from higher initial markups and lower markdowns.
EXEC: Anta Sports Gets Fila Lift in H1 as Sales Growth, Op Profit Margins Jump
The company, which runs retail stores in China for the Anta brand, Fila, Descente, Kolon Sport, and Amer Sports, reported that Fila brand retail sales posted 13.5 percent year-over-year growth in the first half.
EXEC: Under Armour to Return to Macy’s Locations
Macy’s reported that select Under Armour men’s product will be available in 150 stores and online, beginning in February 2024, building on the return of Nike apparel to the department store operator.
Peloton Sees Q4 Shortfall on Higher-Than-Expected Subscription Churn/Recall Costs
Peloton Interactive Inc. posted a wider loss than expected in the fiscal fourth quarter as it was impacted by above-plan subscription churn as well as higher-than-expected costs related to a recent recall.
EXEC: Xtep Intl Posts Double-Digit H1 Increase Despite Slowing China Growth
The company, which operates retail stores in China for K-Swiss, Palladium, Merrell, and Saucony, in addition to Xtep brand stores, reported that retail sell-through growth in the first half increased nearly 15 percent.
Foot Locker, Inc. Posts Q2 Loss, Cuts Outlook as Sales Fall and Margins Contract
The retailer is pausing its cash dividend payments in the fall after reporting sharp Q2 declines in total sales and comp sales, a loss in GAAP net income, slimmer margins, and a business that reportedly softened further in July.
Kohl’s Q2 Earnings Fall on 5 Percent Comp Decline
Kohl’s reported profits in the second quarter dropped 54.1 year-over-year as same-store sales declined 5.0 percent. Earnings were ahead of analysts’ estimates with the benefit of tight expense and inventory controls and continued growth at its in-store Sephora shops. Guidance was reiterated for the year.
Powder Mountain Hires Two Snow Sports Veterans for Key Leadership Roles
Powder Mountain hired Katie Van Riper as director of marketing and Justin Soine as director of sports and recreation, a newly created position, at the Utah mountain resort.
Allbirds Names Canadian Distributor
In-Sport Fashions, a Canadian distributor of specialized lifestyle, athletic and outdoor products, entered into an exclusive partnership with Allbirds, effective September 15.
Kora Expands Bamboo Line With Activewear Capsule
Kora, the manufacturer of technical apparel with natural fibers, including yak wool, merino and bamboo, expanded its bamboo apparel range with an activewear capsule collection including everyday tops, leggings and pants for men and women. Since its founding, Kora has manufactured its own fabrics that make up its garments. The company introduced its Bamboo line […]
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