Will be new goal for Wolverine World Wide’s Merrell to bring some new products to market. Wolverine is placing a particular focus on speed-to-market after the outdoor lifestyle brand underperformed the last few seasons, with most current revenue dropping in the mid teens. “We’ve taken action to re-energize the product pipeline and return the brand to growth,” said Blake Krueger, chairman, CEO and president.
Growth reported by Skechers USA Inc. in its third-quarter international wholesale business, which helped the company report a record $942.4 million in sales for the period. However, on the domestic wholesale front, sales declined 3.4 percent. Net earnings, impacted by currency headwinds and a higher-than-expected tax rate, also slid 2.2 percent to 42 cents per share — short of Wall Street’s consensus average of 47 cents.
In team gear sales charted by the Finnish Amer Sports for its third quarter, ended September 30. This 8-percent increase was a nod to the popularity of Wilson footballs, baseballs and gloves and Louisville Slugger bats. Golf and tennis gear from the brand, however, exhibited more sluggish sales.
The top retail product price raised by Nutcase from its former high $80 price point in its 2017 catalog, which was mailed a month earlier than usual. All this preceding a sale of the company to Bravo Sports Corp. this week, the fourth protective gear brand acquired by the company’s owner since June 2015.
The year Under Armour reportedly will become the official outfitter of Major League Baseball for on-field jerseys — a contract formerly held by Majestic Athletic since 2005. It marks the first-ever official outfitting deal secured by the growing Under Armour for a sports league. It also pulls the rug out from under Nike’s baselayer deal with MLB, as the swoosh’s contract comes to a close in 2019.
Surpassed in fundraising by Campfire Capital, a venture capital firm backed by more than 30 former and current Lululemon Athletica Inc. executives. This new milestone comes after an investment from Canada’s BDC Capital, which has more than $1 billion in assets under management and claims to be Canada’s largest early-stage technology investor in Canada.