Digital Brands Group Swings to Profit on Q2 Revenue Gain
The company reported that net revenues for the second quarter increased 69.6 percent to $4.5 million. Net income attributable to common stockholders was $5.0 million, or 38 cents per diluted share, in the quarter.
VF-Backed Wildwood Ventures Adds Portfolio Company; Expands Board
Wildwood Ventures, the venture studio and early stage investor backed by VF Corporation, added consumer app Chimani to its portfolio. The company also added three members to its advisory board.
Moody’s Withdraws New Era’s Ratings Following Debt Repayment
Moody’s Investors Service withdrew all New Era Cap, LLC debt ratings following the repayment of its outstanding rated debt in conjunction with the closing of a recent refinancing transaction.
Report: Traffic Report Sees Dick’s and Hibbett Well-Positioned for BTS
With Dick’s Sporting Goods releasing second quarter earnings next week and Hibbett Sports usually close behind in timing of its release, a new report from Placer.ai looks to be rather timely.
EXEC: Sacks Parente Golf Undergoes IPO
Sacks Parente Golf, Inc., a maker of including putting instruments, golf shafts, golf grips, and other golf-related products, raised $12.8 million through the sale of 3.2 million shares in an initial public offering.
Costco Wholesale Corporation Elects New Board Director
Costco Wholesale Corp. elected Helena Buonanno Foulkes to its Board of Directors. Most recently, Foulkes was CEO of Hudson’s Bay Company.
Herschel Supply Opens Flagship in New York City
Herschel Supply has opened its new SoHo flagship store in New York City, continuing its retail expansion plans for 2023 following recent store openings in Santa Monica, CA and NYC’s Flatiron district.
BofA Upgrades Adidas To Buy, Lifts Price Targets for Dick’s and Academy
Bank of America Corp. (BOFA) upgraded Adidas to “Buy” due to its progress in improving margins while lifting its price target on Dick’s Sporting Goods and Academy Sports on improving sales trends.
Golftec Opens Location in Orlando
Golftec announced it opened an instruction and club fitting center in Orlando, its 14th location in Florida.
Oofos President To Depart, New COO Named
Oofos said Steve Gallo, the recovery footwear’s president since January 2018, will be stepping away from Oofos to take on a new opportunity. At the same time, Dave Mischler was promoted to the role of chief operating officer.
StockX Report Calls Out On, Salomon and Asics as Top YTD Trading Gainers
Success on the secondary market can be a barometer for consumer demand, and Stockx’s report suggests that, despite a more challenging retail environment, brands continue to break through and demonstrate growth.
Logo Brands Inks Licensing Deal with Mississippi State
Beginning January 1, 2024, Logo Brands and Mississippi State University will enter into a ten-year exclusive agreement in the tailgate and inflatables categories.
OrthoLite Names Cirql VP/GM
OrthoLite hired Matt Thwaites as vice president and general manager of OrthoLite Cirql. He was formerly global sales and marketing director of the Footwear Division for Coats, the industrial thread company.
EXEC: 361 Degrees Gets Lift from Kids in H1 Growth
The 361° Kids business, a major initiative for the company in China, grew 33.4 percent year-over-year and now accounted for approximately 21.1 percent of the Group’s total H1 revenue.
EoS Fitness Opens New Center in Miami-Dade County
The new 40,000-plus square foot gym in Kendall, FL adds to the company’s eight locations across the state, keeping EoS on track to reach its goal of 10 gyms statewide by the end of 2023.
