West Marine’s Debt Ratings Downgraded
Moody’s Investors Service lowered the debt ratings of West Marine’s term loan to reflect West Marine’s pending debt exchange. The exchange will result in the original term loans being subordinated in priority in terms of payment and collateral resulting in a lower expected recovery.
Compass Diversified Posts Q4 Loss Despite Mid-Single-Digit Growth
Compass Diversified (CODI), which owns Velocity Outdoor, BOA, Marucci, Primaloft, 5.11 and others in the active lifestyle space, reported net sales in the fourth quarter of 2022 were $594.9 million, up 6 percent (+4 percent on a pro forma basis).
Play It Again Sports Parent Sees Slight Q4 Earnings Decline
Winmark Corporation, the parent of Play It Again Sports, reported net income declined slightly in the fourth quarter and year.
Peloton Names Chief People Officer
Peloton hired Dalana Brand as chief people officer, effective March 13, reporting to CEO Barry McCarthy, based in New York City. She will also lead the company’s global people team.
Moncler Sees 27 Percent Revenue Growth In 2022
Moncler Group said revenues rose 27 percent to €2.6 billion ($2.8 bn) in 2022. The Moncler brand reported revenues of €2.2 billion, up 21 percent, and Stone Island revenue reached €401 million, a 29 percent increase.
Titleist, Footjoy Parent Swings To Q4 EBITDA Profit On Double-Digit U.S. Growth
Acushnet Holdings Corp., parent company of the Titleist and Footjoy brands, reported that consolidated net sales for Q4 increased 6.4 percent, or 14.3 percent on a constant-currency basis. Adjusted EBITDA was $25.4 million, compared to a loss of $5.0 million in the prior-year quarter.
Mossberg Reorganizes Sales And Marketing Department
O.F. Mossberg & Sons, Inc., the firearms manufacturer headquartered in North Haven, CT, made personnel changes in its sales and marketing department, with Bill Brown becoming senior director of product management and Brian Krouse taking on the role of director of sales, effective March 1.
Lyman Products Names National Sales Manager And Product Manager
Lyman Products Corp. promoted Alex Hayowyk to national sales manager and Spencer Karoll to product manager.
Puma Posts Record Results, Provides Subdued Outlook For 2023
Puma reported record sales and earnings before interest and taxes in 2022 but warned that profits would likely fall as high-interest rates and inflation weigh on consumer spending.
Kohl’s Logs Steep Q4 Loss On Heavy Markdowns
Kohl’s, Inc. reported a steep loss in the fourth quarter on heavy markdowns. Wall Street had expected a profit. The mid-tier department store chain also guided EPS for the current year below analyst targets.
BSN Sports, Under Armour Partner With Ohio’s Lima Central Catholic High School
BSN Sports and Under Armour entered into a partnership agreement with the Lima Central Catholic High School in Lima, OH, to provide uniforms and apparel through its co-sponsored Women of Will program.
Urban Outfitters’ Q4 Profits Decline 23 Percent, Miss Analyst Targets
Urban Outfitters, Inc.’s earnings slumped 23.2 percent in the fourth quarter and came in below analysts’ consensus estimates. Sales came in slightly ahead of targets with strength at its Anthropologie, Free People and Nuuly brands.
Big 5 SG Sees Q4 Same-Store Sales Fall 13 Percent; Margins And Earnings Shrink
Big 5 Sporting Goods Corporation reiterated its fiscal 2022 fourth quarter net sales were $238.3 million, compared to net sales of $273.4 million for the fourth quarter of fiscal 2021. Same-store sales decreased 13.2 percent for the fourth quarter of fiscal 2022 compared to the fourth quarter of fiscal 2021.
Campspot Boasts More Than 3 Million Camping Reservations In 2022
Campspot believes that 2022 solidified its designation as North America’s largest reservations platform and software provider for private campgrounds as the company drove record reservations for the year, surpassing more than three million gross campsite reservations made across its platform.
Report: Shift In Buyer Intentions Show Conditions Normalizing For Boating Market
The boating market began to normalize in 2022 as buyer interest shifted and the number of boats sold globally decreased for the first time since the pandemic-driven boom.
