Liberated Adds Billabong, RVCA and Honolua to Licensee Portfolio
ABG entered into a new long-term agreement with Liberated Brands to be the retail and e-commerce operator for its newly acquired brands Quiksilver, Billabong, Roxy, RVCA, Honolua and Boardriders in the U.S. and Canada.
Acushnet Holdings Corp. Earns BB Credit Rating On New Debt Offering
S&P Global Rating signed a BB’ issuer credit rating and stable outlook to Titleist’s parent Acushnet Holdings Corp.’s planned offering of $350 million of senior unsecured notes. The rating reflects S&P’s expectation that Acushnet’s sales and profits will remain steady over the next year as post-pandemic golf activity decelerates, albeit at levels above pre-pandemic levels.
Players World of Sports Gets New Owners
Players World of Sports, the retailer of tennis and pickleball products based in Hilton Head, SC, was acquired by Daryl and Kathy Daye of Bluffton, SC, and Jeff and Heather Yakes of Hardeeville, SC.
Amazon Faces Antitrust Lawsuit from FTC, U.S. States
The Federal Trade Commission (FTC) and a bipartisan coalition of 17 state attorneys general sued Amazon over violations of anti-competitive behavior. The lawsuit alleges the e-commerce giant’s practices are anti-competitive in how it serves shoppers as well as third-party sellers on the site.
NRF Report Finds Crime Cost Retailers $112 Billion in 2022
According to the 2023 National Retail Security Survey* published by the National Retail Federation (NRF), retailers have seen a dramatic rise in theft-related financial losses, with shrink accounted for $112.1 billion in losses, up from $93.9 billion in 2021.
Sportsman’s Warehouse Names New CEO
Sportsman’s Warehouse Holdings, Inc. appointed Paul Stone, a former executive at Cabela’s, as chief executive officer and president, effective November 1.
Costco’s Q4 Profits Climb 15 Percent
Costco Wholesale Corp. reported earnings rose 15.4 percent in its fiscal fourth quarter ended September 3 as sales gained 9.4 percent. Same-store sales in the U.S., excluding the impact of gas prices, were up 3.1 percent.
U.S. Consumer Confidence Slides to Four Month Low
The Conference Board’s Consumer Confidence Index dropped to a four-month low in September, weighed down by rising interest rates, still-high inflation and a stalemate over the federal budget in Washington.
Peloton Appoints New Product Chief as Co-Founder Moves to Advisory Role
Peloton hired Nick Caldwell as chief product officer, effective November 1, 2023. Caldwell succeeds Peloton Co-Founder, Tom Cortese, and will report to CEO Barry McCarthy, leading global product development.
American Outdoor Brands Secures Patent Settlement Agreement
American Outdoor Brands, Inc. announced it has secured a settlement with The Allen Company, Inc. related to Allen’s infringement of AOB’s patent rights.
Target Closing Nine Stores in Four Markets Due to Theft, Safety Concerns
Target said in a statement it is closing nine stores in four states, including one in East Harlem, NY, three in San Francisco, two in Portland, OR and two in Seattle, WA, suggesting that theft and organized retail crime have threatened the safety of its employees and customers.
Nordstrom To Open Another Rack Store in New York
The 24,000-square-foot Bay Shore store will be located on the South Shore of Long Island at the Gardiner Manor Mall with other retailers, including HomeGoods, Barnes & Noble, Michaels, and Old Navy.
USA Pickleball Announces ‘Quiet Category’ for Pickleball Products
USA Pickleball, the national governing body in the U.S., launched its Quiet Category for pickleball products, an initiative to reduce the sport’s sound output. Quiet Category recognizes pickleball products that reduce acoustic output during play without negatively impacting performance.
Bote Opens Sixth Florida Retail Store
The brand opened its newest store in Jacksonville, FL, joining other Florida shops in Destin, Fort Lauderdale, Fort Walton Beach, Grayton Beach, and St. Petersburg.
Project Bike Tech Hires New ED; Mercedes Ross Transitions
PBT hired Jeff Donaldson as its new executive director, replacing Mercedes Ross, who held the position for eight years, and is transitioning into a new role with PBT as “director of awesome.”
