RV Retailer’s Debt Ratings Outlook Revised To Negative
S&P Global Ratings lowered its debt ratings on RV Retailer Intermediate Holdings LLC due to a “steeper decline in retail unit sales, lower average selling prices, and compressed margins” than expected.
CNBC/NRF: Strong Retail Sales Gain for First Half of Holiday Season
According to CNBC/NRF Retail Monitor, the holiday shopping season began with a strong start in November as retail sales with total retail sales, excluding automobiles and gas, up 0.77 percent seasonally adjusted month over month and up 4.24 percent unadjusted year-over-year.
Beachbody Announces $5.3 Million Registered Direct Offering
The Beachbody Company Inc entered into a definitive securities purchase agreement with certain institutional investors for the purchase and sale of 543,590 shares of the company’s common stock at a purchase price of $9.75 per share in a registered direct offering.
Macy’s Receives $5.8 Billion Buyout Offer
An investor group consisting of Arkhouse Management and Brigade Capital made a $5.8 billion offer to take Macy’s private, according to the Wall Street Journal.
Gildan Activewear Names New CEO as Chamandy Exits
Gildan Activewear, Inc. President, CEO and Board Director Glenn J. Chamandy reportedly left the company, and Vince Tyra has been appointed president and CEO, effective February 12, 2024.
RVIA Expects RV Shipments to Post Double-Digit Growth in 2024
The new forecast projects 2024 RV shipments to range between 343,900 and 356,300 units with a median total of 350,100 units. This total would represent a 11.8 percent to 15.8 percent increase over the expected 2023 year-end range.
Rapala VMC Lays Out Key Priorities in Three-Year Strategic Plan
The company said a new management team, along with other key managers, will focus on implementing its new strategic plan. An important part of the implementation process are projects that focus on improving profitability and working capital management.
Rapala VMC Promotes Five to Global Management Team
The Finland-based fishing gear company announced new members to its Global Management Team and appointed its CFO to chief operating officer.
Levi Strauss Moves Toward CEO Transition in 2024
CEO Chip Bergh announced his retire from the company effective April 26, 2024. Michelle Gass, company president, will succeed Bergh as president and CEO, effective January 29, 2024.
NRF: Imports Peaked in October, Volume Expected to Increase in 2024
Inbound cargo volume at the major container ports in the U.S. will continue to slow during the final weeks of 2023 after peaking later than expected in the fall, according to the Global Port Tracker* report released by the NRF and Hackett Associates.
NRF: Economy Delivers “Vigorous Growth” Despite Slowdown
According to the National Retail Federation’s Chief Economist Jack Kleinhenz, after a challenging year, the economy remains healthy despite slowing.
Johnson Outdoors Sees Q4 Revenues Halved as Fishing Sinks
Consolidated net sales in fiscal Q4 were $96.3 million, a $100.1 million decrease from the prior-year Q4 sales of $196.4 million. The net loss for the quarter was $16.0 million, or a loss of $1.56 a share, compared to net income of $9.7 million, or EPS of 95 cents a share in the fiscal 2022 fourth quarter.
Delta Apparel Posts Wider Fiscal Q4 Loss as Sales Fall 21 Percent
Salt Life Group segment net sales were $12.5 million in Q4, compared to prior-year fourth quarter net sales of $14 million. Net sales in the Delta Group segment were $78.9 million in Q4, compared to $101.5 million in the prior-year fourth quarter.
Lululemon’s Q3 Earnings Dip On Charge Tied to Mirror Shutdown
Lululemon Athletica, Inc. reported earnings declined slightly due to a charge related to its move to discontinue its Mirror platform as part of a new partnership with Peloton. Excluding the charge, earnings and sales topped guidance for the third straight quarter and Lululemon again lifted its outlook for the year.
Vail Resorts Posts Wider Fiscal Q1 Loss on Australian Weather Woes, N.A. Expenses
Mountain segment net revenue decreased 14.5 percent to $172.5 million for the first quarter, said to be primarily driven by the company’s Australian ski areas, which experienced weather-related challenges that impacted terrain in the current year, compared to record visitation and favorable snow conditions in the prior year.
