Yue Yuen’s manufacturing business, which boasts Adidas, Merrell, Asics and many others as key customers, posted a 21.3 percent increase in October while Feng Tay, a major Nike supplier, turned negative once again.
Author: SGB Executive
EXEC: Major Asia Footwear Manufacturer Continues to Cut Mainland China Production
The U.S. continues to be the No. 1 destination for deliveries for Yue Yuen, but the region is also losing share to product shipped to Mainland China and Europe. Indonesia is the largest country of origin this year, representing 53 percent of total production.
Vuori Nets $5.5B Valuation, $825M Investment in Latest Financing Round
The $825 million investment, led by General Atlantic and Stripes, along with a cohort of additional investors, is structured as a secondary tender offer, and raises the activewear’s brand’s valuation to $5.5 billion.
EXEC: Yonex Continues Solid DD Growth on Back of Badminton Trends in China
Consolidated net sales reportedly reached a record high for the cumulative H1 period, helped in part by the positive effect of yen
depreciation on overseas sales. Net sales increased 16.0 percent year-over-year for the first half to ¥66,942 million.
EXEC: Descente Ltd. Posts Another Record Second Quarter in Sales and Profits
Descente Ltd. reported that net sales for the fiscal second quarter ended September 30 increased 4.7 percent to ¥62,818 million, reportedly due to foreign exchange effects and growth of the Descente and Uumbro brands in Japan and South Korea.
EXEC: Mizuno Corporation Posts Record H1 Results in Sales and Profits
Mizuno management said there are concerns regarding the volatility of the financial market due to the monetary policies of individual countries and changes in political and global landscapes, as well as changes in consumer sentiment amid the continued rise in prices.
EXEC: Alpargatas Saw Havaianas Taking Market Share, Posting Growth in Q3
The management team at Alpargatas, the Brazil-based parent of the Havaianas and Rothy’s brands, offered their take on the 2024 third quarter with a particular focus on the company’s strategic review and transformation process that has already started to bear fruit for the Havaianas flip-flop brand.
EXEC: GoPro Continues to Cut Expenses to Lowest Level Since Before IPO
Revenue was $259 million in the third quarter, down 12 percent year-over-year, and posted a wider net loss for the period. GAAP net loss was $8 million, or a 5 cents loss per share, compared to a net loss of $4 million or a 2 cents loss per share, in the prior-year Q3 period.
EXEC: Ahead, Craft, Cutter & Buck Parent Gets Q3 Lift from U.S. and Sports & Leisure
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson, reported that third-quarter net sales dipped 1 percent, with Sports & Leisure the only segment posting an increase for the quarter.
Acon Closes on Investment in Mexico Boutique Fitness Operator
This latest deal comes as Mexico’s fitness market appears to be in expansion mode. Founded in 2017, Commando operates 11 facilities in Mexico, with over 30 fitness rooms where group-based fitness classes are the focus.
EXEC: The Pro’s Closet is Back in Business Under New Ownership
Elshair Companies has acquired the TPC (The Pro’s Closet) brand and its intellectual property, marking the beginning of a new chapter for the “world’s largest and most trusted marketplace for pre-owned bikes.”
EXEC: LVMH-Backed Moncler Rumored to Have Interest in UK’s Burberry
Italian outerwear maker Moncler may be eyeing a bid for the iconic UK apparel company to create a luxury outdoor outerwear conglomerate, but luxury is not what it was six months ago, as Moncler turned negative in Q3.
EXEC: Peloton Shares Rise on Double Upgrade from Bank of America
Peloton’s PTON shares rose nearly 4 percent on Monday, November 4, and shares are up ~14 percent since the company reported its results before the market opened last Thursday, October 31.
EXEC: Fox Factory’s Specialty Sports Segment Gets Q3 Lift from Marucci and Bike
The SSG segment, which includes the Fox Factory, Marucci, Easton cycling, and Race Face brands, posted net sales of $150 million in Q3, compared to $72 million in Q3 last year, with nearly $50 million coming from the acquisition of Marucci.
EXEC: Sebago, K-Way Parent BasicNet Relies on Europe for Growth in YTD Period
Europe (+7.3 percent) accounts for ~76.5 percent of aggregate sales while declines were seen in Americas (-30.9 percent), Asia and Oceania (-24.7 percent), and Middle East and Africa (-5.4 percent).
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