Macy’s Sees Q4 Earnings Fly Past Analyst Targets
Macy’s Inc. reported fourth-quarter earnings were down year over year, but easily surpassed Wall Street targets while giving upbeat guidance for 2023. Macy’s attributed the strong performance to inventory disciplines and a focus on gift-giving categories.
Topgolf To Open Location In Pompano Beach
Topgolf reported it is in construction on a three-level venue in Pompano Beach, FL, that it expects to open in late 2023.
Professional Pickleball Registry Reaches 5,000-Member Milestone
The Professional Pickleball Registry, the global organization of pickleball teaching professionals, reached a landmark of 5,000 members, paralleling the fast growth of the sport.
Equinox’s Debt Ratings Lowered
S&P Global Ratings downgraded the debt ratings of Equinox Holdings, Inc. after the New York-based fitness club operator closed on an amendment to its first-lien credit agreement.
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.
