HLC Names Brand Manager, Yuba Bicycles
HLC announced that Justin Gottlieb was named brand manager of Yuba Bicycles. He was recently the director of sales and marketing for Yuba Bicycles, LLC.
Grassroots Outdoor Alliance Adds Director Of Events
Grassroots Outdoor Alliance named Chelsea Flynn as director of events.
Solo Brands Acquires TerraFlame
Solo Brands, Inc., the parent of Solo Stove, Chubbies, Oru Kayak, and ISLE, announced it has acquired TerraFlame, the maker of indoor fireplace and fire accessories company based in Laguna Niguel, CA.
Canadian Tire Sees Strong Helly Hansen Q1, SportChek Gain Partially Offset CTR Decline
Canadian Tire Corporation, the parent of retailer SportChek and the Helly Hansen brand, reported first-quarter Retail revenue was CN$3.34 billion, a decrease of 4.8 percent compared to the prior-year period. Diluted EPS was CN$0.13 in the quarter compared to CN$3.03 in the prior-year period.
Werewool Secures $3.7M In Seed Funding
Werewool, a New York-based provider of sustainable performance fibers, raised $3.7 million in a funding round led by Material Impact and Sofinnova Partners.
Traeger Q1 Revenues Fall 31.5 Percent; Inventory Woes Expected Through First Half
Traeger, Inc. reported total revenue for the first quarter decreased by 31.5 percent to $153.2 million. Adjusted net income was $5.5 million, or 4 cents per diluted share as compared to adjusted net income of $19.5 million, or 17 cents per diluted share in the first quarter last year.
KMD Brands Appoints CEO Of Kathmandu
KMD Brands, Ltd., the parent of Kathmandu, Rip Curl and Oboz, hired Megan Welch as CEO of Kathmandu, effective August 7.
Yeti’s Q1 Profits Drop On Recall Fallout
Profits at Yeti Holdings, Inc. fell 46 percent on an adjusted basis in the first quarter ended April 1 on a 3 percent sales gain. Results were impacted by a massive recall, but earnings topped analyst targets. Yeti reiterated its goal to return to double-digit growth by the fourth quarter.
JD Sports Fashion Appoints New Group CFO
JD Sports Fashion Plc, the parent company of JD, Finish Line, DTLR, and Shoe Palace, has appointed Dominic Platt as chief financial officer and as a member of the Board of Directors. He is expected to join the company later this year.
Timberland Opens New SoHo Flagship
Timberland opened a new flagship store in Manhattan’s SoHo neighborhood and launched its first U.S.-based membership program, The Community, across all stores and online.
BRC Sees April U.K. Retail Foot Traffic Growth Slip Versus Q1 Trend
The British Retail Consortium (BRC) is reporting that total U.K. retail foot traffic, or footfall, increased 5.3 percent year-over-year in April, according to BRC-Sensormatic IQ data, 1.5 percentage points worse than March and worse than the 3-month average increase of 7.0 percent.
MasterCraft Boat’s Fiscal Q3 Results Top Expectations
MasterCraft Boat Holdings Inc. reported adjusted earnings in the fiscal third quarter ended April 2 matched record earnings in the year-ago quarter despite a 1.5 percent sales decline. The boat maker lifted guidance on the better-than-planned performance.
Wolverine Q1 Sales Slip Despite Momentum For Merrell And Saucony
Wolverine World Wide, Inc. reported sales declined 2.5 percent in the first quarter ended April 1 as strong double-digit gains for Merrell and Saucony were offset by declines at Sperry and its work footwear brands. Results were in line with guidance and Wolverine affirmed its guidance for the year.
Newell Brands Gets Debt Rating Outlook Downgrade
Moody’s Investors Service lowered Newell Brands, Inc.’s debt rating outlook to negative from stable to reflect elevated risks over the next 12 to 18 months that inflation will persist and consumers will remain pressured for the remainder of this year.
NRF Economist Reports Q1 Challenges Bringing Inflation Under Control
During the first quarter, slower-but-continued growth in gross domestic product and other economic indicators showed the difficulty of bringing inflation under control, National Retail Federation Chief Economist Jack Kleinhenz said in the May issue of NRF’s Monthly Economic Review.
