Hibbett Reiterates FY Outlook Despite Q3 Shortfall
Hibbett Inc. reported third-quarter results came in below Wall Street estimates with margins impacted by higher logistics and wage costs, but the retailer reiterated its outlook for the year. Comparable sales increased 9.9 percent versus the prior year and increased 51.7 percent compared to 2019 third quarter.
Iconix Founder Convicted In Accounting Fraud Retrial
Neil Cole, the founder and former CEO of Iconix Brand Group, was convicted of securities fraud and other charges for misleading investors about the company’s earnings. Cole was found guilty of all eight criminal charges against him by a unanimous jury Monday in a New York court. He was charged in 2019 with fraudulently inflating Iconix earnings.
Feetures Announces CEO Transition
Feetures, the family-owned and operated sock manufacturer, announced that John Gaither, who has been the company’s COO, would succeed his father, Hugh Gaither, founder and CEO, effective January 1, 2023. Hugh Gaither will evolve his role as chairman of Feetures’ executive committee.
Vail Resorts Hires Chief Financial Officer
Vail Resorts, Inc. reported it re-hired Angela Korch as executive vice president and chief financial officer, effective December 22, 2022. She rejoins the company from CorePower Yoga
3Step Sports Acquires Best FC Soccer Club
3Step Sports, the youth sports club and event operator, acquired Best FC Soccer Club, adding another youth training and development organization to its soccer division.
Life Time Opens Fourth Maryland Club At Annapolis Town Center
Life Time reported it opened its fourth club at the Annapolis Town Center, near the U.S. Naval Academy, in Annapolis, MD.
REI To Open In Marina Del Rey
REI Co-op will open a new store in Marina del Rey in spring 2023. The 24,000-square-foot site is the retailer’s 30th store in California.
On Adds Apparel To Resale Program
Swiss running brand On has added men’s and women’s apparel to its resale program. The move follows the September launch of Onward resale site and online trade-in program initially focused on footwear.
Jack Wolfskin Hires New Leadership For UK And Nordic Regions
Jack Wolfskin hired new leadership for the UK and Nordic regions to align with the company’s global growth strategy, firs reported in 2021.
Frasers Group Acquires Gieves & Hawkes
Frasers Group Plc, the parent of Sports Direct, bought Savile Row tailor Gieves & Hawkes.
Czechoslovak Group Acquires Majority Stake In Fiocchi Munizioni
Czechoslovak Group (CSG) has acquired a 70 percent stake in Fiocchi Munizioni, the manufacturer of small-caliber ammunition. CSG said it would partner with the current shareholders, the Fiocchi family and Charme Capital Partners, each retaining a minority stake for continued growth.
Nexgen Packaging Names CEO
Nexgen Packaging, a provider of packaging for the retail, apparel and footwear industries, hired James Welch as CEO. Welch assumed the role in October, after having been the company’s co-CEO since June 2021. Co-founder Andy Effron moved from the co-CEO role to the chairman.
Beachbody Receives Compliance Notice From NYSE
The Beachbody Company, Inc. said it received a deficiency letter from the New York Stock Exchange notifying the company that it is not in compliance with applicable price criteria in the NYSE’s continued listing standards.
Camping World Further Expands In Southern California
Camping World Holdings, Inc. agreed to acquire RV Solutions, Inc., a family-owned RV dealership group in San Diego, CA. The transaction includes two RV dealership locations–RV Solutions and Airstream of San Diego—and one standalone parts and service center in El Cajon, CA.
Unifi Expands Textile Takeback System
Unifi, Inc. expanded its Textile Takeback, a collection and recycle polyester-based fabric waste system, whereby recycled resin is converted into Repreve fiber or blended with recycled plastic bottle material.
