Reebok Opens Full-Price Store in Mexico
Reebok opened its first freestanding full-line store at Mexico City’s Fórum Buenavista shopping center as it ramps up its international expansion.
Inov-8 Opens First U.S. Store
Inov-8 opened its first U.S. store in Meridian, ID. The U.K.-based footwear manufacturer’s stores now number three, with the other two in England.
Moody’s Lifts Life Time Group’s Debt Ratings on Improving Results
Moody’s raised its debt ratings on Life Time Group Holdings, Inc. due to the owner and manager of fitness and recreational sports centers improving performance, including membership, revenue, EBITDA trends, and steps the company has taken to reduce leverage.
Burlington Stores Sees Weakness in Low-End Consumer but Exceeds Q2 Guidance
Burlington Stores, Inc. reported second-quarter earnings that came in well above guidance but still reduced its earnings outlook and narrowed its sales guidance for the year due to pressures facing its lower-income shoppers.
CBC Global Ammunition Advances Lead-Free Ammo Solutions with Acquisition
CBC Global Ammunition acquired SinterFire, which CBC said “is a pioneering name in lead-free bullet technology” and that the alliance “enhances its position as a global provider of ammunition solutions.”
Unifi’s Fiscal Q4 Revenues Drop 31 Percent
Unifi, Inc. reported a loss in the fiscal year ended July 2 as sales declined 30.7 percent. The maker of polyester and nylon textured yarns said results continue to be impacted by low levels of brand demand due to inventory destocking efforts.
Nike CFO of Consumer, Marketplace & Brand Departing for Lysol’s Parent Company
Reckitt Benckiser Group named Shannon Eisenhardt, currently CFO of Nike consumer, brand & marketplace, as CFO of Lysol’s parent company, replacing current CFO Jeff Carr, who is retiring in March 2024. She joins RBG on October 17, 2023.
Puma Makes Leadership Appointments in Europe
Puma has appointed Javier Ortega as general manager Europe, effective September 1. Esteve Planas will succeed Ortega as area general manager for Southern Europe.
Christy Sports Rebrands Sturtevant’s SkiBonkers to Powder Daze; Unifies Offerings
The decision to rebrand the Sturtevant’s sales event to Powder Daze is an effort by the retailer to amplify its legacy so customers across the country can participate in the sale.
Wolverine World Wide’s Debt Ratings Lowered by S&P
S&P Global Ratings reduced the debt ratings of Wolverine World Wide, Inc. as the footwear manufacturer continues to underperform its expectations with “tough industry headwinds to continue to pressure the company’s operating performance at least over the next several quarters.”
Gympass Secures $85 Million In Equity Funding
Gympass announced it raised $85 million in a Series F funding round at a valuation of $2.4 billion, led by EQT Growth, with participation from Neuberger Berman.
Logo Brands Signs 10-Year Licensing Agreement with Utah Utes
The University of Utah is the company’s 35th strategic partnership. Beginning January 1, 2024, Logo Brands and the University of Utah will enter into a 10-year exclusive agreement in the tailgate and inflatables categories.
Dansko Appoints New President; Fox Transitions to Exec Chair
Dansko promoted Kitty Bolinger to president, effective September 5. Bolinger is currently Dansko’s EVP of sales & marketing. Concurrently, Dansko’s CEO, Jim Fox, will transition to the newly created role of executive chairman.
Winchester Ammo Parent Acquires White Flyer Targets
The acquisition includes White Flyer’s five state of the art manufacturing facilities in Coal Township, PA; Dalton, GA; Webb City, MO; Knox, IN; and, San Bernardino, CA and includes White Flyer’s recently announced Eco Flyer target product line.
Urban Outfitters Profit Jumps 75 Percent in Second Quarter
Profits at Urban Outfitters, Inc. surged 75.0 percent in the second quarter ended July 31 as sales grew 7.5 percent and margins benefited from higher initial markups and lower markdowns.
