EXEC: Yue Yuen Forecasts Strong YTD Profit Growth as Footwear Market Normalizes
The Hong Kong-based firm said the gains were “mainly attributable to the solid increase in the gross profit margin of the group’s manufacturing business alongside a substantial rise in brand customers’ demand for its footwear products.
EXEC: EEOC Sues Amer Sports for Retaliation Against Employee
According to the EEOC’s lawsuit, an employee complained multiple times to human resources and management about age discrimination during an organizational restructuring.
EXEC: Fenix Outdoor Hopes for Better Times Ahead as Q3 Continues Downward Trend
The executive chairman of the Board for the parent of the Fjällräven, Royal Robbins, Hanwag, and Fenix Outdoor brands said the quiet part out loud in his letter to investors regarding the quarter when he said there was not much positive to say from a sales perspective.
RVIA: Travel Trailers Show Growth in Flattish September Shipments Report
The RV Industry Association reported that in its September 2024 survey of manufacturers, found that total RV shipments ended the month with 24,595 units, a decrease of 0.4 percent compared to the 24,700 units shipped in September 2023.
EXEC: Newell Brands Expects Slow Turnaround for Challenged Outdoor & Rec Segment
The parent company of Marmot, Ex Officio, Stearns, Bubba, Coleman, and Contigo reported that revenue in its Outdoor & Recreation segment actually fell 20.8 percent in the quarter.
EXEC: Hoka Drives Deckers Brands’ Fiscal Q2 Growth; Prompts Guidance Bump
DECK now expects Hoka to increase approximately 24 percent year over year, reflecting the continued strength of global demand. Ugg is still expected to grow mid-single digits, and diluted earnings per share expectations range from $5.15 to $5.25 for the year.
Columbia Brand Appoints Marketing Chief; Launches New Brand Vision
Matt Sutton, as senior vice president and head of marketing for the Columbia brand, was hired as the Columbia Brand has reportedly worked to bring a new strategic vision to life internally over the last few months.
WaveCel Promotes David Visnack to CEO
David Visnack was prmoted from chief marketing officer to chief executive officer timed the company expanding its product line with new helmets to mitigate traumatic brain.
EXEC: Vista Outdoor Schedules Another Special Meeting to Vote on CSG Deal
The company will hold the special meeting of stockholders to vote and approve the merger with the Czechoslovak Group a.s. (CSG) at 9 a.m. (CT) on November 25, 2024.
EXEC: Perfect Moment Opens First U.S. Warehouse and Distribution Center
The announcement follows SGB Media’s first report that the company signed a new partnership with Quiet Platforms, a subsidiary of America Eagle, in July.
EXEC: Mips Posts 69 Percent Organic Growth in Q3 as Helmet Category Recovers
Consolidated net sales increased 61 percent to SEK 123 million in the third quarter, compared to SEK 77 million in the prior-year third quarter, with organic growth amounting to 69 percent during the quarter.
Pure Fishing Lands Refinancing Deal on Outstanding Debt
As part of this transaction, the company entered into a new five-year, $750 million first lien credit facility with a consortium of lenders including Monarch Alternative Capital LP and Silver Point Finance as co-lead lenders.
Ken Hicks Takes the Reins at PetSmart LLC
The former Foot Locker, Inc., Academy Sports + Outdoor, Inc. and JC Penney Chief Executive has been named President and CEO, effective October 31. Hicks will also serve on the company’s Board of Directors.
EXEC: Birkenstock Takes Over Direct Distribution in South Korea
The company will capitalize on the South Korean consumer’s buying potential selling DTC through its online shop. In spring 2025, it will open its own stores and expand with selected department stores.
EXEC: Hoka & Ugg Parent Gets October Surprise Downgrade; Others Say Not So Fast
BTIG Analyst Janine Stichter and her team cited concerns over slowing growth trends in the company’s Hoka and Ugg businesses. Williams Trading Analyst Sam Poser started his recent Deckers Brands note with, “Buy DECK.”
