SGB Update Apparel
Augusta Sportswear Brands and Founder Sport Group Merge to Form Momentec Brands
Momentec Brands also announced several additional leadership changes to take effect April 1, 2024. In addition to senior leadership team appointments, FSG CEO John Anton will be CEO of Momentec Brands, and ASB CEO David Elliot will serve as vice chairman.
Moody’s Affirms Topgolf Callaway’s B1 Ratings, but Outlook Now Negative on EBITDA Concerns
The ratings agency said leverage is elevated due to weaker consumer demand at Topgolf than was expected a year ago and due to the company’s rapidly growing lease obligations to support the new Topgolf facility development.
Reima North America Appoints New Sales Director
Mayon Sargent was, most recently, an independent consultant for Skagit Investments. Previously, she was the director of sales for the West region at American Outdoor Brands. Before AOB, Sargent was VP of sales and marketing at Sierra Bullets and Barnes Bullets.
Report: 2023 Resale Grew 15X Faster than Retail
A new study found that 60 percent of consumers shop for secondhand apparel, giving them more for their money, while 55 percent said they would spend more on secondhand clothing if the economy does not improve.
Lands’ End Posts Wider Net Loss in Fiscal 2023 on Impairment Charges, Lower Sales
Fiscal fourth quarter revenues declined 2.8 percent to $514.9 million for the three-month period ended February 2. Global e-commerce net revenue was $1.0 billion, a decrease of 7.1 percent, due in part to Lands’ End Japan closure. U.S. e-commerce net revenue decreased 2.7 percent.
Pure Hockey to Open Store in Laguna Hills, CA
This will be the retailer’s fourth store in California, which also has locations in Anaheim, San Jose and San Marcos.
L Catterton Makes Significant Investment in Off-Road, Off-Grid Vehicles
Founded in 2018, Storyteller Overland manufactures Class B RV and expedition vehicles. In addition to selling its vehicles at over 40 dealers in the U.S., it also offers adventure gear, accessories and technology for the outdoor lifestyle enthusiast.
Vista Outdoor Confirms Receipt of Revised Indication of Interest from MNC Capital
Vista Outdoor’s Board still needs to determine the revised MNC Indication within the framework contemplated by the existing merger agreement with Czechoslovak Group a.s.
Canada Goose Cutting 17 Percent of Corporate Jobs, Shifting Leadership Roles
Carrie Baker, president, brand and commercial, will expand her role to oversee design. Beth Clymer, president of finance, strategy and administration will add operations to her responsibilities. Daniel Binder, chief transformation officer, will now oversee global stores. COO John Moran has left the company.
Academy Sports + Outdoors Begins 2024 Store Expansion in Raleigh and Indy
The full-line sporting goods and outdoor recreation retailer will open 15 to 17 new stores in its fiscal 2024 year, starting with two new stores in the first quarter in Knightdale, NC and Greenwood, IN.
Perfect Moment Ltd. Posts Lower Fiscal Q3 Sales, Profits as Deliveries Pulled Forward
The sales decrease was said to be primarily due a substantial amount of wholesale revenue that historically was recorded in Q3 was instead accelerated into Q2 due to certain earlier-than-planned customer shipments.
Rhone Appoints Two New Board Members; will Launch First Women’s Collection in May
Bolsters its leadership team with the appointment of Athleta and CorePower Yoga veteran Tess Roering and ESPN Chairman Jimmy Pitaro.
Rally House Expands to 16 stores in Philly; Adds Storefront in Texas
Rally House opened a store at the Gloucester Premium Outlets in Philadelphia and one in Cedar Hill, TX.
Nike Names Minimalist Designer Tim Hamilton as Global VP of Design
Hamilton brings over 26 years of design experience to the role including working on large-scale collabs, and has reportedly built a reputation in the industry for “technical craftsmanship and modern minimalism while reflecting subtle shifts in youth culture.”
Capstone Partners Releases Annual Consumer M&A Report
Personal consumption spending on services increased 7.4 percent YoY, over double the growth experienced by goods spending, the widest differential of services spending growth versus goods spending growth since 2009.
