August U.S. Consumer Confidence Index Decline is Highest in Two Years
U.S. consumer confidence fell the most in two years as pessimism on the labor market, higher borrowing costs and stubborn inflation curbed optimism. The Conference Board continues to expect a recession before the year’s end.
MC Sports’ Mort Finkelstein Passes Away
Mort Finkelstein, the co-founder of the MC Sports chain, passed away on August 17. He was 93.
Elevate Outdoor Collective Names North America Race Manager
The company promoted Harry Goss to North America race manager for Völkl skis, Dalbello boots, Marker bindings, and accessories.
Nomadix Names New Brand Marketing Manager
Nomadix, the maker of The Only Towel You Need, made from post-consumer recycled materials, promoted Elyse Cornett to brand marketing manager, responsible for developing and executing marketing strategies.
Active Brands Group Hires E-Commerce Manager
Sweden-based ABG hired Rohan Callander as e-commerce manager responsible on expanding the DTC business for its portfolio of brands.
Haro Bikes Names Supply Chain Director
As part of the brand’s global restructuring, Haro Bikes, based in Vista, CA, hired Grasie Ooi as supply chain director.
Wolverine’s Debt Ratings Lowered by Moody’s
Moody’s Investors Service downgraded the debt ratings of Wolverine World Wide, Inc., reflecting the company’s significant earnings decline in Q2 2023 and Moody’s expectations for continued weak near-term performance. S&P Global Ratings similarly recently reduced its rating.
EXEC: Active Lifestyle Well Represented on 2023 Inc. 5000 List
Golftec, Xero Shoes, SylvanSport, Stinger Sports, Bases Loaded and GiantMouse are brands in the wide range of companies in the active lifestyle space to land in Inc’s 5000 for 2023 annual ranking of the fastest-growing private companies in America—a snapshot of companies’ performance from 2019 to 2022.
Malibu Boats Swings to Fiscal Q4 Loss Despite Saltwater Fishing Sales Gain
The increase in net sales for the quarter was reportedly driven primarily by increased unit volumes in the Saltwater Fishing segment and a favorable model mix across all segments.
Report Forecasts Flattish Online Growth in U.S. for Holiday 2023
Salesforce’s 2023 Holiday Forecast calls for 4 percent global and 1 percent U.S. year-over-year online sales growth across November and December, reaching $1.19 trillion and $273 billion, respectively.
OrthoLite Bolsters Sales Team in China
OrthoLite added to its sales management team in China, appointing Chuck Yu as director of sales strategy and John Liu as sales manager.
Mercury Marine, Labor Union Ink New Five-Year Collective Bargaining Agreement
The new contract, which will remain in place through September 30, 2028, was voted in favor by the members of the IAMAW Lodge 1947 and will be signed by Mercury Marine and the IAMAW.
Authentic Reaches Deal for Hunter Boots IP in China
Authentic reached an agreement for Baozun, Inc. to acquire the intellectual property rights to Hunter boots for distribution in China and Southeast Asia.
EXEC: Department Stores Stung by Apparel Category Woes
Macy’s, Nordstrom, Kohl’s, and Dillard’s saw sales decline in the second quarter as the retailer’s core apparel category faced promotional pressures and weak demand. The active category was a bright spot for Nordstrom, but continued to struggle at Macy’s and Kohl’s.
Pure Fishing’s Debt Rating Upgraded
S&P Global revised its issuer credit rating on Pure Fishing from the SD (selective default) rating given earlier last week, after the company’s sponsor, Sycamore Partners Management, bought up some of its debt at a significant discount to face value.
