Solo Brands Acquires TerraFlame
Solo Brands, Inc., the parent of Solo Stove, Chubbies, Oru Kayak, and ISLE, announced it has acquired TerraFlame, the maker of indoor fireplace and fire accessories company based in Laguna Niguel, CA.
Canadian Tire Sees Strong Helly Hansen Q1, SportChek Gain Partially Offset CTR Decline
Canadian Tire Corporation, the parent of retailer SportChek and the Helly Hansen brand, reported first-quarter Retail revenue was CN$3.34 billion, a decrease of 4.8 percent compared to the prior-year period. Diluted EPS was CN$0.13 in the quarter compared to CN$3.03 in the prior-year period.
Fanatics Hires CFO For Commerce Business
Fanatics named Krishna Rao as chief financial officer of Fanatics Commerce, its retail operation. In his role, Krishna will oversee all finance functions and strategic planning of its Commerce business, reporting to Fanatics Commerce CEO and Fanatics Vice Chairman, Doug Mack.
Werewool Secures $3.7M In Seed Funding
Werewool, a New York-based provider of sustainable performance fibers, raised $3.7 million in a funding round led by Material Impact and Sofinnova Partners.
Leatt Corporation Sees Q1 Sales Fall 41 Percent Against Huge Year-Ago Growth
Leatt Corporation, a developer and marketer of protective equipment and ancillary products for many forms of sports, especially extreme high-velocity sports, saw total revenues for the first quarter decline 46 percent to $13.1 million.
Traeger Q1 Revenues Fall 31.5 Percent; Inventory Woes Expected Through First Half
Traeger, Inc. reported total revenue for the first quarter decreased by 31.5 percent to $153.2 million. Adjusted net income was $5.5 million, or 4 cents per diluted share as compared to adjusted net income of $19.5 million, or 17 cents per diluted share in the first quarter last year.
Dillard’s Q1 Flies Past Analyst Targets
Dillard’s, Inc. reported earnings declined 19.8 percent in the first quarter ended April 29 against difficult year-ago comparisons. Results came in well above analyst targets. Same-store sales slid 4 percent.
Nordstrom Names Chief Financial Officer
Nordstrom Inc. hired Cathy R. Smith as chief financial officer, effective May 29, 2023. Smith joins Nordstrom from Bright Health Group where she has served as chief financial and administrative officer since 2020.
KMD Brands Appoints CEO Of Kathmandu
KMD Brands, Ltd., the parent of Kathmandu, Rip Curl and Oboz, hired Megan Welch as CEO of Kathmandu, effective August 7.
Yeti’s Q1 Profits Drop On Recall Fallout
Profits at Yeti Holdings, Inc. fell 46 percent on an adjusted basis in the first quarter ended April 1 on a 3 percent sales gain. Results were impacted by a massive recall, but earnings topped analyst targets. Yeti reiterated its goal to return to double-digit growth by the fourth quarter.
JD Sports Fashion Appoints New Group CFO
JD Sports Fashion Plc, the parent company of JD, Finish Line, DTLR, and Shoe Palace, has appointed Dominic Platt as chief financial officer and as a member of the Board of Directors. He is expected to join the company later this year.
Timberland Opens New SoHo Flagship
Timberland opened a new flagship store in Manhattan’s SoHo neighborhood and launched its first U.S.-based membership program, The Community, across all stores and online.
The RealReal Narrows Q1 Adjusted Loss On Stronger Gross Margins
The RealReal, which claims to be the world’s largest online marketplace for authenticated, resale luxury goods, reported total Q1 revenue was $142 million, a decrease of 3 percent. Gross margins came in at 63.4 percent of revenues in Q1, a 12.1 percentage point improvement versus the year-ago period.
BRC Sees April U.K. Retail Foot Traffic Growth Slip Versus Q1 Trend
The British Retail Consortium (BRC) is reporting that total U.K. retail foot traffic, or footfall, increased 5.3 percent year-over-year in April, according to BRC-Sensormatic IQ data, 1.5 percentage points worse than March and worse than the 3-month average increase of 7.0 percent.
Crunch Franchise Announces Newest Location In Fern Creek, KY
Crunch Franchise announced the opening of Crunch Fern Creek, a $5 million, 30,000-square-foot fitness facility, with $1 million worth of state-of-the-art equipment and amenities in a historic community located in Jefferson County, KY.
