Netflix Co-Founder Acquires Majority Stake in Powder Mountain
Reed Hastings is now the majority owner of Powder Mountain following a $100 million investment that signals a new era for the mountain resort known for its “daily lift ticket caps and uncrowded visitor experience.”
Thélios Acquires Vuarnet from NEO Investment Partners
Thélios said it aims to restore the brand’s former glory, empowering Vuarnet to elevate its product quality and push the boundaries of innovation. Vuarnet’s mineral lens expertise will reportedly benefit Thélios to expand its know-how in this area.
Undefeated Opens First New York City Store
Undefeated, the Los Angeles-based sneaker and streetwear boutique, opened its first store in New York City in the Nolita section of downtown Manhattan.
Rally House Sets Plans to Open Three Stores This Fall
Rally House reported it will open three stores this fall in Deptford, NJ; Evansville, IN; and Altoona, IA.
Sally Jewell Named Board Chair at Symetra Financial Corp.
The former CEO of REI and Secretary of the Interior was designated as the chair of the company’s Board of Directors, effective August 24, 2023. Jewell joined Symetra’s board in March 2018.
G-III Apparel Ups Full-Year Guidance After Q2 Beat on Sales and Profits
Net sales for the second quarter increased 9 percent to $659.8 million and net income was $16.4 million, or 35 cents per diluted share, compared to $36.3 million, or 74 cents per diluted share, in the prior-year quarter.
Parent of DSW, Topo, Keds and Le Tigre Footwear Brands Reiterates Outlook
Designer Brands, Inc. reported that second quarter results topped Wall Street estimates with sequential improvement in sales and gross margin over the 2023 first quarter and also reiterated the outlook for the year.
HBI and G-III Apparel Partner on Champion and C9 Outerwear
The companies entered into a strategic multi-year licensing agreement for the design, production and distribution of outerwear for the Champion and C9 Champion brands in North America, including exploring opportunities across Champion’s global network as a key partner.
Nike Tops Gen-Z’s Rankings for Most Authentic Brand
Nike was ranked the “Most Authentic” brand in the active lifestyle and fashion space among Gen Z consumers in North America and Western Europe, according to YPulse, based on its latest demographic survey.
Sportsman’s Warehouse Swings to Second Quarter Loss as Comps Fall
The 11.8 percent net sales decrease was said to be primarily due to lower demand across all product categories and a decline in store traffic resulting from the continued impact of consumer inflationary pressures on discretionary spending, partially offset by the opening of 14 new stores.
Xponential Fitness Sets Three-Year Growth Targets; Shares Fall 15 Percent
XPOF shares were up 2 percent in the pre-market on Wednesday but fell throughout the day to close down 15.4 percent to $19.07 on Wednesday.
HanesBrands and FSU Extend Exclusive Mass Channel License
The multiyear extension of its apparel partnership gives HanesBrands exclusive rights to Florida State fanwear in the mass retail channel.
BodyArmor to Enter Canada
Coca-Cola will launch the BodyArmor sports drink across Canada in January 2024, marking the brand’s first international expansion since BodyArmor was founded in 2011 and Coke’s late 2021 acquisition.
USTA Launches Investment Fund to Support Tennis Growth
The United States Tennis Association launched USTA Ventures through the USTA Strategic Investment Committee to acquire potential equity stakes in technologies and other companies to advance the growth of tennis in the U.S.
Lazydays Adds Two Board Members
Lazydays, an RV dealer, announced that Erika Serow gave notice that she is resigning from its Board of Directors for personal reasons, effective September 30. Concurrently, Lazydays appointed Suzanne Tager and Susan Scarola to the Board.
