Leonardo DiCaprio Invests In Sustainable Footwear Brand Allbirds
Allbirds announced that that Academy Award-winning actor and environmental activist Leonardo DiCaprio has become the company’s latest investor.
Can Champion Offset Loss Of Target Mega-Deal?
Shares of HanesBrands fell $4.30, or 19.3 percent, to $17.96 on Wednesday after management said the wildly-successful C9 by Champion line would be exiting Target once the contract expires in January 2020. Gerald W. Evans Jr., Hanesbrands CEO, said the brand is close to maturity on Target’s selling floors and the company was sticking to its target for Champion’s global sales to reach over $2 billion by 2022.
Weakness In Camping, Water Sports Sinks Big 5 Sporting Goods’ Q2
Poor weather around the country stymied the sales of camping and water sports products at Big 5 Sporting Goods Corp. stores in the back half of the second quarter, driving down income and revenue for the company during the period.
Compass Diversified Holdings Posts Profit In Q2
Cash Flow for the second quarter of 2018 reflects year-over-year earnings increases at the company’s Advanced Circuits, Arnold Magnetics, Clean Earth and Manitoba Harvest businesses, offset by declines at the company’s Liberty, ErgoBaby and 5.11 businesses.
Adidas Settles For $8 Million In Rockport Dispute
Adidas AG has agreed to settle the company’s $54 million claim in the bankruptcy case of Rockport for $8 million.
REI To Open Grand Rapids Store
In spring 2019, outdoor co-op REI will open a new store in Grand Rapids, MI, the state’s second-largest city. With close proximity to the Grand River, Lake Michigan and the Huron-Manistee National Forests, Grand Rapids is Western Michigan’s hub for outdoor recreation.
Shares of Rocky Brands Soar On Earnings Beat
Shares of Rocky Brands jumped $6.00, or 23.2 percent, to $31.85 after the boot maker delivered earnings that ran past Wall Street’s targets. Georgia Boot, Durango and Rocky Boot all delivered robust growth in the quarter at healthy margins.
Champion To Exit Target
Hanesbrands said Champion sales grew 18 percent in the second quarter to drive a 4 percent sales increase. But the company announced that Champion and Target Corporation will not renew their contract for an exclusive line of C9 by Champion activewear apparel when the current contract expires at the end of January 2020.
Nomura Downgrades Acushnet On Valuation, Cautions On Under Armour And Canada Goose
Nomura Instinet analyst Simeon Siegel downgraded Acushnet Holdings, the parent of Titleist and Footjoy, to “Neutral” due to the stock’s recent run-up in price while also expressing valuation concerns on Under Armour and Canada Goose.
Big 5 Sporting Goods Misses On Income, Revenue
Big 5 Sporting Goods Corp. reported a net loss for the second quarter of fiscal 2018 of $0.2 million, or (1) cent per share, compared to net income for the second quarter of fiscal 2017 of $2.8 million, or 13 cents per diluted share. Analysts had expected a profit of 11 cents per share.
Rocky Brands’ Q2 Profits Soar
Rocky Brands Inc. reported profits in the second quarter jumped 73.3 percent, thanks to high-single-digit growth in wholesale sales and expanding gross margins.
The North Face Appoints New Heads Of Product And Merchandising
The North Face announced the appointment of Kelly Cortina as vice president of global product and Darren Cookson as global vice president of merchandising for The North Face, effective immediately. Cortina was most recently VP global merchandising, Center of Excellence at Under Armour while Cookson was VP of product & merchandising EMEA, The North Face.
Golf Rounds Decline In June
According to Golf Datatech, golf rounds played were down 1.2 percent in June compared to the same month a year ago. Gains were seen in the Mountain region, up 4.4 percent as well as South Central, 3.4 percent and Pacific, 2.0 percent.
Bass Pro’s Rogers Location To Become First U.S. Combo Store
Bass Pro’s Outdoor World in Rogers, AK, will undergo an extensive renovation to feature Bass Pro Shops, Cabela’s and Tracker Boats together under one roof for the first time. The location will add a new boat center and significantly expanded fishing and apparel departments.
Bass Pro To Open First Store Since Cabela’s Merger Close
Bass Pro Shops plans this fall to open the company’s first store since the closing of the merger with Cabela’s. The new Outpost in Halifax, Nova Scotia will feature dedicated sections for Bass Pro, Cabela’s and Tracker Boats.
