The Buckle Delivers Flat Comps In November
The Buckle, Inc. announced that comparable store net sales, for stores open at least one year, for the 4-week period ended November 26, 2022, decreased 0.3 percent from comparable store net sales for the 4-week period ended November 27, 2021.
Sturm Ruger Declares Special Dividend
Sturm Ruger & Company, Inc. announced that its Board of Directors declared a special dividend of $5.00 per share for stockholders of record as of December 15, 2022, payable on January 5, 2023.
DSW Parent Sees Profits Plummet In Third Quarter
Designer Brands Inc., the parent of DSW, reported earnings on an adjusted basis were down 31 percent in the third quarter ended October 29 as lower gross margins offset a 1.4 percent gain in sales. Results were slightly below Wall Street estimates. The company maintained its sales outlook but lowered its earnings guidance for the year.
Duluth Reduces FY Guidance On Inflationary Pressures
Duluth Holdings, Inc, the parent of Duluth Trading, reported a steeper loss than expected in the third quarter ended October 30 and reduced its guidance for the year as markdowns were used to clear slow-selling merchandise in the latest quarter. Sales in the period were up 1.3 percent.
G-III Apparel Lowers Outlook On Q3 Shortfall
G-III Apparel Group Ltd. reported sales grew 6.2 percent but earnings missed expectations due to logistical challenges.
Nautilus Completes Refinancing Of Existing Term Loan
Nautilus Inc. announced the amendment of its existing credit facility by refinancing the previous term loan with a new $30 million term loan, thereby increasing the company’s total credit facility to $130 million.
Fanatics-Owned NFT Venture Undergoes Layoffs
Candy Digital, the sports and entertainment NFT startup backed by Fanatics, reported it laid off more than one-third of its workforce of approximately 100 employees, according to Sportico.
Tern Makes Executive Hires
Taiwanese electric bike company Tern hired Matthew Davis as chief operating officer, Joe Hei as head of strategy and product management, and Venus Ang as director of finance.
Gatorade Marketing VP Joins Vital Proteins
Vital Proteins named Jill Abbott, a former marketing VP at Gatorade, as chief marketing officer. Abbott is responsible for the global marketing and brand strategy as the company looks to expand into new international markets.
Rossignol Group Releases Growth Plan
Targeting both significant revenue growth and category leadership in sustainable ski and outdoor products, the Rossignol Group unveiled a new strategic plan — called Ascension 2026 — that commits to investing $50 million between now and 2026 to achieve its goals.
Equinox’s Probability Of Default Ratings Lowered
Moody’s Investors Service affirmed Equinox Holdings, Inc.’s debt ratings, but downgraded the fitness chain’s Probability of Default Rating (PDR) from Caa3-PD to Ca-PD. The outlook remains negative.
Mountain Khakis Adds Rep Group To Cover Rockies
Mountain Khakis reported it hired Alpin Sales as its wholesale sales rep group covering the Rockies.
Crown Capital Investments Acquires Pacific Yurts
Crown Capital Investments, an Atlanta-based private equity firm, has acquired Pacific Yurts, Inc., the maker of portable tents.
Online Shoppers Spend Record $11.3B On Cyber Monday
According to Adobe Analytics, online sales on Cyber Monday reached $11.3 billion, up 5.8 percent year-over-year growth, representing the biggest online shopping day.
Golf Equipment Declines But Apparel Expands In October
Golf equipment sales were off 5.9 percent in October and down 2.2 percent year-to-date, according to Golf Datatech. Golf apparel sales were up over 8 percent on the month and 6 percent on a year-to-date basis.
