Yeti Drinkware Surpasses $1 Billion in 2023; Cooler Recall Nets Margin Gain for Year
The net impact of recall reserves associated with the stop sale of certain soft coolers included in the recalls initiated in Q1 2023 had a 480 basis point impact on the increase in gross margin compared to the prior-year quarter.
EXEC: Sportchek, Mark’s and Helly Hansen all Down in Q4; Only Helly Up for Year
Canadian Tire’s SportChek segment, which includes the SportChek, Sports Experts, Atmosphere, Pro Hockey Life, Sports Rousseau, and Hockey Experts retail brands, saw comparable sales in the fourth quarter decline 6.4 percent.
Tennis Industry Association Rebrands as Racquet Industry Research Group
TIA rebranded to the Racquet Industry Research Group, noting, “It’s more than just a name change; this evolution signifies a broader mission to provide research and data to the entire racquet sports community.”
Hanesbrands, Inc. Cutting 159 Jobs, Closing NC Distribution Center
HBI plans to permanently lay off another 159 workers in April when it repurposes a DC in Winston-Salem, NC, according to a WARN notice sent to the state of North Carolina on February 5, with an effective date of April 5, 2024.
Hartford Sales Group Appoints New Rep for NorCal Coast
Mark Blesius joined the award-winning agency, covering the Northern California Coast. Blesius was, most recently, the senior regional account manager covering the Southwest region for Asics America.
EXEC: Brands Act Fast on PFAS Changes as EPA Proposes New National Rules
California-based Liberated said this week it deployed an initial assessment of its Spyder products resulting in a multiple-season plan to phase out PFAS from its branded skiwear, joining other brands making the hard choice in 2024.
Inov8 Drops Nex-Gen Trail Running Shoes
“The new shoes are neither over-engineered nor under-engineered, in the strong belief that nature knows best. We let your foot control the shoe, not the shoe control the foot.” —Inov8 Founder Wayne Edy
VF Corp. Aligns with Activist Investor, Appoints New Indie Board Member
VF will appoint another independent director to the Board in the near term, mutually agreed with Engaged Capital and will prioritize considering the candidates identified by Engaged Capital.
Outtech Hires Regional Manager for Independent Channel
Outtech Sales Services hired Dyson Renn as a regional manager for its independent channel, working with retailers in Pennsylvania and Western New York.
EXEC: Topgolf Callaway Sees All Segments Grow in Q4 But Loss Widens
Revenue grew 7 percent at Topgolf, 5 percent in the Golf Equipment segment and 3 percent in the Active Lifestyle segment. The company’s net loss increased 6.1 percent on a GAAP basis and 10.6 percent a non-GAAP basis.
EXEC: Shimano Forecasts 2024 Double-Digit Sales and Profit Decline
Fiscal full-year 2023 net sales decreased 24.6 percent from the prior year to ¥474.36 billion. Operating income decreased 50.5 percent to ¥83.65 billion, and net income attributable to owners of the parent company decreased 52.3 percent to ¥61.14 billion.
Honey Stinger Appoints Another New CEO
Most recently, John D’Alessandro was chief marketing officer for Nutraceutical Corporation where he was credited with orchestrating the development of over 35 brands.
Jetset Pilates Expands in Texas with West McKinney Location
The growing franchise has studios in Florida, with over 28 in development throughout New York, North Carolina, Georgia, Texas, and Australia.
Jazzercise Appoints New President
Before joining the company, Bobbi Quick held leadership roles at 24-Hour Fitness, The Bay Club Company and EōS Fitness.
Nordstrom, Inc. to Add Another Rack Store in New Jersey
The 26,000-square-foot store will be located in Manalapan Commons, a shopping center that includes Best Buy, Panera Bread, Five Below, PetSmart, and Raymour & Flanigan.
