Academy’s Debt Ratings Raised By Moody’s
Moody’s Investors Service upgraded Academy, Ltd.’s debt ratings to reflect Academy’s continued outperformance relative to expectations and the overall retail industry.
Sportsman’s Warehouse To Open In North Naples
Sportsman’s Warehouse Holdings, Inc. announced it would open a new store in North Naples on March 2, making this the retailer’s first store in Southwest Florida and fourth in the state.
Planet Fitness’ Q4 Tops Wall Street Targets
Planet Fitness, Inc. reported fourth-quarter profits more than doubled, beating expectations and forecasted an upbeat full-year outlook following strength in its December national sales, which helped to drive “record membership growth.”
Yeti Posts Fourth-Quarter Loss On Massive Recall Charges
Yeti reported a loss in the fourth quarter as it absorbed $128.9 million in write-offs related to the recall of several magnet-lined products. Sales were up 1 percent in the fourth quarter but would have risen 10 percent, excluding the recalled products. Yeti also warned that 2023 profitability and sales would be impacted by the recall, with growth planned at 3-to-5 percent.
BikeExchange Partners With Blaupunkt E-Bikes For DTC Sales
Electronics brand Blaupunkt signed an exclusive agreement with BikeExchange naming them the DTC sales outlet for its foldable e-bikes in North America.
Sturm Ruger’s Sales Slide 11.2 Percent In Fourth Quarter
Sturm, Ruger & Company, Inc. reported sales declined 11..2 percent in the fourth quarter to close the year with a sales decline of 18.5 percent.
Wiley X Hires New CEO, CFO And SVP Sales
Protective eyewear brand Wiley X announced changes to its senior leadership structure. Co-Owners and brothers Myles, Jr. and Dan Freeman will retain senior leadership positions, with Dan Freeman stepping into the role of company CEO.
Adidas Renews Partnership With Major League Soccer
Adidas renewed a multi-year extension of its partnership with Major League Soccer.
Delta Galil Appoints President Of Branded Division
Delta Galil Industries, Ltd. hired Mark Stocker as president, Delta Galil Branded Division. Stocker will be based in New York, reporting directly to CEO Isaac Dabah.
Dick’s SG To Acquire Moosejaw From Walmart
Dick’s Sporting Goods agreed to acquire outdoor retailer Moosejaw from Walmart.
Janji And Oiselle Brands To Merge
Janji, a Boston-based running apparel brand, and Oiselle, a Seattle-based women’s athletic apparel company, have entered into a collaborative partnership through a merger facilitated by Digsbury Ventures.
TJX Sees Holiday Sales Beat Plan
The TJX Companies Inc. reported earnings rose 14 percent in the fourth quarter ended January 28 on a 4 percent same-store gain. Sales came in ahead of guidance while earnings were at the upper end of plan.
Escalade Sports Sees Mid-Teens Q4 Sales Decline On Soft Demand, Higher Inventories
Escalade, Inc. reported fourth quarter revenues net sales decreased 1.8 percent to $72.1 million. Organic sales, excluding acquisition contributions, declined 14.4 percent in the quarter.
Garmin Q4 Revenues Decline 6 Percent On Sharp Decrease In Fitness, Aviation
Garmin Ltd. posted consolidated revenue of $1.31 billion in the fourth quarter ended December 31, a 6 percent decrease compared to the prior-year quarter.
Wolverine Worldwide Forecasts Low-Single-Digit Growth For 2023
Wolverine Worldwide’s fourth-quarter sales grew 8.4 percent as strong double-digit growth at Merrell and Saucony offset a steep decline at Sperry. Overall results were in line with recently-updated guidance. Guidance for the current year calls for margin pressures to continue in the first half of the year to further reduce inventories and low-single-digit growth on a currency-neutral basis for the overall year.
