RV Industry Association Sees Moderating Shipments Decline in August
The trade association’s August 2023 survey of manufacturers found that total RV shipments ended the month with 28,071 units, a decrease of 16.9 percent, and down 45.0 percent year-to-date.
Acushnet Holdings Corp. Announces Senior Notes Offering
Acushnet Holdings Corp. announced that its wholly-owned subsidiary, Acushnet Company, intends to raise $350,000,000 through an offering of senior notes due 2028.
Surf Hardware International Relocates Global Headquarters
Surf Hardware International relocated its global headquarters to Australia’s Coffs Harbour and is trading under the name of Gowings Pacific Trader.
Arc’teryx Re-Opens Newbury Street Store
Arc’teryx reported it re-opened its Boston retail store in the Newbury Street shopping district.
Arcus Hunting Hires VP Sales, Director of Sales and Category Manager
Arcus Hunting, LLC hired Cory Utley as vice president of sales, leading sales and customer service. Ryan Ripp was hired as director of sales, managing key regions and accounts. Bill Wilson was hired to lead the product team as category manager.
Peloton Hires SVP, Apparel & Accessories
Peloton hired Cédric Fletcher, a former Nike and Under Armour merchant, as SVP of apparel and accessories.
West Marine’s Debt Ratings Withdrawn Following Debt Exchange
Moody’s Investors Service amended its debt ratings on West Marine following the retailer’s distressed exchange of all of its debt into equity as announced by the company on September 18.
J.C. Penney’s Q2 Revenues Slide 10 Percent
J.C.Penney’s sales fell 10.1 percent in the second quarter year-over-year to $1.61 billion from $1.79 billion a year ago, according to a regulatory filing.
Haro Bicycles Names COO
Haro Bicycles, based in Vista, CA, promoted Doss Barnes to chief operations officer, one year after joining the company as director of supply chain.
S&P Raises Authentic Brands Debt Ratings on Improved Performance
S&P Global Ratings raised the debt rating of Authentic Brands Group, LLC after the company outperformed its previous forecast for its sizable 2022 acquisition of Reebok and recently-closed acquisition of Boardriders, Inc. S&P said the company funded the Boardriders acquisition with less debt than previously expected due to new equity from its financial sponsors.
Thor Industries’ Fiscal Year EPS Hammered as Sales Fall 32 Percent
Thor Industries, Inc.’s profits tumbled 67.9 percent on a 28.4 percent revenue decline in the fiscal fourth quarter ended July 31 but both came in well above analyst targets. The RV maker predicted sales will decline about 3 percent in the current fiscal year following a 31.8 percent slide this past fiscal year.
Shoe Carnival Appoints CFO
Shoe Carnival, Inc. said Erik Gast, its EVP, CFO and treasurer, mutually agreed to leave the company, effective today, to pursue other opportunities. Patrick Edwards, the retailers’ chief accounting officer and secretary since 2021, will succeed Gast.
Report: U.K. Cycling Market Down 8 Percent in First Half of 2023
While the early summer saw an improvement in the underlying trend after a tough start to the year, the Bicycle Association detailed the factors culminating in continued inventory surplus challenges in the U.K. at mid-year.
Dave Haggerty Elected to Another Term as ITF President
Haggerty was re-elected as president of the International Tennis Federation at the 2023 ITF Annual General Meeting in Cancun, Mexico, on September 24, receiving 73 percent of the votes. He will serve a four-year term from 2023/27.
TJX Companies Elects New Board Director
TJX Companies, Inc.’s Board of Directors elected Charles F. Wagner, Jr. to its Board, effective immediately. Wagner is the EVP and CFO of Vertex Pharmaceuticals, Inc., a role he has held since 2019.
