QVC Parent’s Debt Ratings Lowered
S&P Global Ratings lowered the debt ratings of Qurate Retail, Inc., the parent of QVC. The rating agency said Qurate’s operating performance weakened further in the fourth quarter of 2022 as profitability was worse than anticipated, driving leverage up amid steadily declining customer demand.
Aleck Acquires Tocsen
Aleck, the maker of wireless audio and communication systems for outdoor sports, has acquired Tocsen, the German maker of intelligent helmet-mounted crash sensors.
Survey: Proposed Golf Ball Rule Receives Mixed Response
On the heels of the USGA/R&A’s proposal for a “Modified Local Rule” for elite competition that reduces the overall distance a golf ball would travel at extremely high speeds, a new survey provides immediate analysis of where Serious Golfers stand on the issue.
The Ironman Group Appoints Chief Marketing Officer
The Ironman Group hired Marieka Barnard as chief marketing officer having worked, most recently, as VP of event marketing for The Ironman Group in the EMEA region, succeeding Suzanne Cohen.
Kitsbow Cycling Apparel To Close
Kitsbow, the manufacturer of cycling apparel and accessories based in Old Fort, NC, is closing after being unsuccessful in securing funding, CEO David Bilstrom said in a post on Kitsbow.com.
Bloomingdale’s Appoints Chief Merchant
Bloomingdale’s has promoted Denise Magid to the newly created role of chief merchandising officer, effective immediately. Within this position, Magid will drive the strategic direction and performance of all Bloomingdale’s merchandising initiatives.
Winnebago’s Q2 Revenues Decline 26 Percent As RV Demand Crashes
Winnebago Industries Inc. reported profits were down 42.1 percent in the fiscal second quarter ended February 25 as sales retreated 25.6 percent. Sales of of towables tumbled 47.0 percent due to softening RV demand following peak selling in the earlier stages of the pandemic.
Shoe Carnival Shows Modest Earnings Growth In Fourth Quarter
Shoe Carnival reported earnings rose 4.9 percent in the fourth quarter ended January 28 as higher gross margins offset a 7.2 percent decline in sales. The family apparel chain said comparable store sales were up 12.6 percent against the pre-pandemic 2019 fourth quarter.
Olin Closing Epoxy Facilities As Part Of On-Going Restructuring Program
Olin Corporation, the parent of Winchester Ammunition, will cease operations at its Cumene facility in Terneuzen, Netherlands and the solid epoxy resin production at its facilities in Gumi, South Korea and Guaruja, Brazil.
Alterra Mountain Co. Lays Out Capital Investment Plan Worth Nearly $500 Million
Alterra Mountain Company outlined a nearly $500 million capital investment program focused on enhancing the guest and employee experience across its destination resorts over the next year.
Topo Designs Receives Growth Investment From Gart Capital Partners
Topo Designs reported a significant equity investment from Gart Capital Partners, a family investment company headquartered in Colorado, marking the first time the brand has taken outside funding since its founding in 2008.
Nike, Inc. Posts Double-Digit Growth Across Regions In Fiscal Q2 As EPS Beats Outlook
Nike, Inc. reported fiscal 2023 third quarter reported revenues were $12.4 billion, up 14 percent compared to the prior year and up 19 percent on a currency-neutral basis. Diluted EPS declined 9 percent to 79 cents a share. Inventories for Nike, Inc. were $8.9 billion, up 16 percent.
Newell Brands Debt Ratings Downgraded
S&P Global Ratings lowered its debt ratings on Newell Brands Inc. as the company’s earnings and cash flow guidance for fiscal year 2023 has come in significantly weaker than previous expectations because of weak macroeconomic conditions and continued inflationary pressures.
Turtle Fur Hires CEO, CFO And VP Marketing & E-Commerce
Turtle Fur reported strategic leadership hires, including CEO Jim Osgood, CFO Matt Glomski and VP of Marketing & E-Commerce Erika Canfield.
Mountain Khakis Hires Creative Director
With 20-plus years of experience in the creative and marketing field, Mountain Khakis hired Ant Sanders as creative director.
