EXEC: Sebago, K-Way Parent BasicNet Relies on Europe for Growth in YTD Period
Europe (+7.3 percent) accounts for ~76.5 percent of aggregate sales while declines were seen in Americas (-30.9 percent), Asia and Oceania (-24.7 percent), and Middle East and Africa (-5.4 percent).
Rocky Brands’ Q3 Profits Slide on 8.8 Percent Sales Decline
The sales decline reflects a 15.7 drop in wholesale revenues due to softness in work, outdoor and commercial military categories. Jason Brooks, CEO, said, “While cautious consumer spending outside of peak shopping periods and warm, dry weather acted as headwinds this quarter, the underlying strength of our business remains intact.”
Consumer Confidence Bounces Back In October
The Conference Board reported that its Consumer Confidence Index jumped to 108.7 in October from 99.2 in September—the biggest monthly gain since March 2021. Analysts had forecast a more modest reading of 99.3.
EXEC: VF Corp. Sets Medium-Term Targets at Investor Day
At VF’s Investor Day, “Reinvent to Grow,” company President Bracken Darrell highlighted six areas that the company is focused on at the enterprise level to build a competitive advantage and revive profitability and growth.
Newell Brands Announces Upsized Debt Offering
Newell Brands announced the launch and pricing of an upsized public offering of $750 million aggregate principal amount of 6.375 percent notes due 2030 and $500 million aggregate principal amount of 6.625 percent notes due 2032.
Enduro Bearings Hires Sales & Marketing Director for the Americas
Alex Wassmann is an industry veteran in the cycling space, having held key roles in product development, technical support, marketing, and strategic global partnership development at Giant Group and Sram.
Hilco Global and TPG Angelo Gordon Partner with Bluestar Alliance on JV
Hilco Global and TPG Angelo Gordon announced the formation of a new joint venture that will identify, acquire and finance consumer brands and IPs in partnership with Bluestar Alliance, LLC, the parent of Hurley, Justice, Scotch & Soda, and other consumer brands.
Garmin Ltd. Ups Guidance on Strong Double-Digit Q3 Growth in Fitness, Outdoor and Marine
Garmin adjusted its full year guidance and now anticipates revenue of approximately $6.12 billion and pro forma EPS of $6.85 based on gross margin of 58.5 percent, operating margin of 24.0 percent and a full year effective tax rate of 16.5 percent.
Outdoor Retailer Parent Trims Full-Year Guidance
Emerald Holding, Inc. slightly reduced its outlook from steps taken to discontinue some of its smaller events. The operator of Outdoor Retailer, Surf Expo, Sports Licensing & Tailgate Show, and other venues also reported improved underlying earnings in the third quarter on flat sales.
Pyrenex Appoints Alan Daniel as Commercial Director
Daniel comes to the luxury outerwear manufacturer with over 20 years of outdoor industry experience having worked for Rossignol, Rip Curl and Salomon.
GoPro to Cut 26 Percent of Workforce in Revised Restructuring Plan
The action camera maker now plans to layoff about 26 percent of its workforce (240 employees), up from a plan announced in August that called for the reduction of 15 percent (140 employees).
EXEC: Moncler S.p.A. Sees Consumer Confidence, Weaker Q3 Weigh on YTD Results
In the third quarter, Group revenues were €635.5 million, down 3 percent constant-currency compared to the same period of 2023, cutting into the year-to-date trend increase of 6 percent at constant exchange rates.
Modern America Campgrounds Acquires Thomas Point Beach & Campground
Thomas Point Beach was started in 1956 by Harry and Marion Crooker. The 80-acre Oceanside Park was owned and operated by the family until it was sold. Modern America was selected to purchase the property because it intends to carry on its legacy.
EXEC: Big 5 Sees Improving Sales Trends Leading into Holiday Season
The retailer saw the Apparel and Footwear categories each down ~9 percent and Hardgoods was down ~6 percent in Q3 but a number of product categories are contributing to the improvements in sales trending, including the early rates in fall and winter apparel.
Hoist Appoints Board Chair
The manufacturer of “IV-level hydration,” announced that Gerry David has been appointed chairman of the board of directors.
