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.
Bass Pro Shops Set to Open In Loveland, CO
Bass Pro Shops announced plans today to open a retail store in Loveland, CO. The opening of the 130,000-square-foot Outdoor World, expected to open in 2025, is the retailer’s sixth Bass Pro Shop in Colorado.
Pinnacle Outdoor Group Names Sarah Maher General Manager
The agency said Maher had been operating in this role since 2022, overseeing strategic development and sales operations in addition to her role as the agency’s Vermont sales rep.
Alterra Mountain Co. Embarks on Major Expansion of Deer Valley Resort
Alterra Mountain Company plans to expand Deer Valley Resort, adding 3,700 acres to the ski-only destination in the Wasatch Mountains in Park City, UT.
Yamaha Motor Corp. Acquires Florida Saltwater Testing Facility
The company purchased Fort George Island Marina in Duval County, FL, intending to convert the facility into the Yamaha Offshore Endurance Center.
Unior Bike Tools Names Canadian Distributor
Unior Bike Tools signed a multi-year distribution agreement with Outdoor Gear Canada (OGC) for the Canadian market. OGC started taking orders for Unior Bike Tools products in August with deliveries beginning later this year.
Grassroots Outdoor Alliance Promotes Dana Howe to Vice President
Grassroots Outdoor Alliance (GOA) promoted Dana Howe, director of membership and education, to vice president.
