Farfetch Launches Reebok European Effort Through New NGG++ Division
Farfetch has commercially launched its European partnership with Reebok, following its deal announced in February 2022 with new Reebok owner Authentic Brands Group. The partnership is being managed by New Guards Group (NGG), a wholly-owned Farfetch company.
Five Iron Golf To Open In Cincinnati
Five Iron Golf is opening in Cincinnati, marking its 18th location nationwide and the first in Ohio.
OR, Surf Expo Parent Sees Strong Double-Digit Revenue Growth In First Quarter
Emerald Holding, Inc., the owner and producer of the Outdoor Retailer and Surf Expo trade shows, reported that first quarter 2023 revenues were $122.3 million, an increase of 24.2 percent versus the first quarter 2022.
Rock Ridge Outdoors Names VP Of Sales
Rock Ridge Outdoors, based in Minden, LA, named Janette Palmer as its new vice president of sales.
Outerstuff Receives Debt Downgrade On MIssed Payment
Moody’s downgraded the debt ratings of Moody’s following a missed payment on a shareholder loan. Moody’s said Outerstuff has communicated that the shareholder has made a decision to convert the shareholder loan to equity, which would be a positive for Outerstuff’s capital structure
Champion Brand Posts Double-Digit Global Sales Decline In Q1 Led By U.S. Weakness
HanesBrands, Inc. reported first-quarter net sales from continuing operations declined 12 percent to $1.39 billion, which includes a $31 million unfavorable impact from foreign exchange rates, compared to last year’s strong first-quarter results. Global Champion brand sales decreased 17 percent on a reported basis.
Garmin’s Q1 Sales Slide On Weakness In Outdoor Segment
Garmin Ltd. reported sales declined 2 percent in the first quarter ended April 1. A 27 percent sales tumble in its Outdoor segment, tied to challenges anniversarying major launches in the adventure watch category, offset double-digit gains in other segments, including Fitness and Marine.
Skechers Appoints New Managing Director For UK And Ireland Market
Skechers promoted Richard Parker to managing director of the United Kingdom and Ireland. Former Managing Director, Peter Youell, transitioned into an advisor role on special and key international projects.
On Revises Regional Reporting Structure, Eliminates “Rest Of World” Region
Swiss performance sportswear brand On will update its reporting of net sales by geography. Specifically, the “Rest of World” region, which represented Middle East, Africa and Latin America in previous reporting, will no longer be reported as a geographic location.
F45 Fitness Co-Founder Resigns From Board
According to a regulatory filing, Adam Gilchrist, one of the founders of F45 Training Holdings, resigned as a member of the board of directors on April 21.
Rocky Brands Posts Q1 Loss As Wholesale Sales Falter On Retail Inventory Issues
Rocky Brands, Inc. reported that first quarter net sales decreased 33.9 percent to $110.4 million compared with $167.0 million in the first quarter of 2022. Wholesale sales for the first quarter decreased 40.2 percent to $80.1 million. The company reported a first quarter net loss of $0.4 million, or a loss of 5 cents per diluted share.
Weyco Group Sees Sharp Uptick In Q1 Profits
Weyco Group Inc. reported earnings in the first quarter ended March 31 jumped 80 percent. Sales were up 6 percent as double-digit gains at its Florsheim dress brand offset flat year-over-year sales at its other footwear brands, including Bogs.
Camping World Profit Plummets 95 Percent In Q1 On New Vehicle Decline
Camping World Holdings, Inc. reported that first quarter revenue decreased 10.6 percent to $1.5 billion. Net income fell 95.4 percent to $4.9 million.
Big 5 Sees First-Quarter Earnings Decline, Forecasts Weak Q2
Big 5 Sporting Goods Corp. reported a sharp decline in earnings in the first quarter ended April 1 on a 7.1 percent same-store decline with cold weather slowing the start of spring selling. Earnings came in line with guidance due to tight expense controls. Big 5 predicted another steep decline in the second quarter with comps expected to be down in the high single-digit range.
Francesca’s Acquires Los Angeles Lifestyle Brand Richer Poorer
Francesca’s Acquisition, LLC, the parent of Francesca’s and Franki by Francesca’s women’s and girls apparel chains, reported the asset purchase of California-based wardrobe essentials brand Richer Poorer.
