Adidas AG reported revenue growth accelerated in the fourth quarter, led by China and North America, prompting the company to upgrade its profitability target for 2020.
Category: Apparel
VF Corp. To Acquire Altra
VF Corp. signed a definitive purchase agreement to acquire the Altra footwear brand from Icon Health & Fitness, Inc.
Dick’s Hopes Healthier Margin Outlook Offsets Top-Line Challenges
Dick’s Sporting Goods said on its fourth-quarter conference call that it’s facing top-line challenges in the hunt and fitness tracker categories as well as the Under Armour brand overall. But stronger product innovation from select key partners and the continued expansion of its private brands are expected to result in less margin pressure in 2018 than previously expected.
Adidas Initiates Multi-Year Stock Buyback Program
With the approval of the Supervisory Board, the Executive Board of Adidas AG has decided to launch a multi-year share buyback program of up to €3.0 billion ($3.7 bn) in total until May 11, 2021.
Clarus Sees Double-Digit Growth For Black Diamond Equipment
Sales for the Black Diamond Brand grew 11 percent, led by a 24 percent gain in the Ski category and 21 percent in the Climb Black category. Unseasonally dry weather in the Western U.S. restrained growth in apparel.
Tilly’s Q4 Derailed By E-Com Snafu
Tilly’s Inc. reported earnings that came in at the low end of projections and same-store sales that missed guidance as online sales were disrupted by a system upgrade. Management remained bullish on continued improvement in 2018.
Outdoor Voices Secures More Funding
Outdoor Voices, the women’s fitness apparel startup, has raised $34 million in a series C round, according to a regulatory filing.
2nd Chance Sports Appoints Anthony Sica As President
2nd Chance Sports, a non-profit organization that donates gently used and new sporting equipment to children in need throughout the New York City area, has appointed Anthony Sica as president.
NSGA Welcomes Speakers To Management Conference
Speakers will include Michigan State University basketball coach Tom Izzo, Beth Porreca of USA Football, David James of Major League Baseball. The conference will also include a number of sessions focusing on how to compete with Amazon.
Quiksilver Waterman To Sponsor World’s Largest Paddle Festival
The Carolina Cup, the world’s largest festival combining paddle races, clinics, product displays, and entertainment has attracted the support of Quiksilver Waterman as title sponsor.
12 ReTech Acquires E-motion Apparel
12 ReTech Corporation has acquired E-motion Apparel, Inc. in a stock for stock transaction between 12 ReTech and Hubert (Hub) Blanchette, the owner and CEO of the company. E-motion Apparel owns several brands including E-motion Apparel, Lexi-Luu Dancewear, Punkz Gear and Skipjack.
Dick’s Q4 Earnings Arrive At Upper End Of Guidance
Dick’s Sporting Goods reported earnings fell 13.8 percent before non-recurring charges in the fourth quarter, to $127.3 million, or $1.22 a share, but came in at the top of guidance. Same-store sales slid 2.0 percent, in line with guidance. Earnings for 2018 were guided to be flat to down 7 percent.
Tilly’s Q4 Falls Short Of Guidance
Tilly’s Inc. reported earnings improved modestly in the fourth quarter and came in the lower end of its projections. Same-store sale were flat, also slightly below guidance.
Clarus’ Q4 Sales Climb 27 Percent
Clarus Corp., the parent of Black Diamond Equipment, Sierra Bulletts and PIEPS, reported sales in the fourth quarter rose 27 percent along with strong earnings improvement.
Former Newell Director Indicates Support For Starboard’s Efforts In Public Statement
Starboard Value LP, the hedge fund seeking to replace Newell Brands’ board, commented on the public support for Starboard’s efforts provided by Kevin Conroy – the 5th director to resign from Newell’s Board of Directors since late January.
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