Solo Brands Posts Q2 Loss On Impairment Charge
Solo Brands reported a loss in the second quarter after taking a $27.9 million impairment charge related to goodwill for the Isle Paddleboards business. Sales jumped 53 percent in the period. The parent of Solo Stove reduced its guidance for the year due to macroeconomic challenges.
Golftec To Acquire Skytrak, Names Chief Strategy Officer
Golftec has entered into a definitive agreement to acquire SkyTrak, the consumer launch monitor and simulator. In support of this acquisition, Golftec named golf industry veteran Jeff Foster as chief strategy officer.
HanesBrands’ Second Quarter Dragged Down By Cyber Attack
HanesBrands, Inc. reported sales and earnings for the second quarter were negatively impacted by a ransomware attack as well as softer-than-expected point-of-sale trends. Global Champion brand sales decreased 20 percent over prior year in constant currency. The parent of Champion and Hanes significantly reduced its guidance for the year.
Stio To Expand At Retail With East Coast Mountain Studio Location
Stio announced it will open its latest East Coast Mountain Studio in Boston, with an expected opening date later this fall.
Canada Goose’s Q1 Tops Guidance
Canada Goose Holdings Inc. reported a wider loss in the first quarter ended July 3 due to the timing of marketing expenses while sales grew 24 percent on improving store productivity. Both the loss and sales topped guidance. Canada Goose maintained its guidance for the year.
Coats Group To Acquire Rhenoflex
Coats Group, the industrial thread manufacturer, has signed a definitive agreement to acquire 100 percent of Rhenoflex GmbH, the maker of sustainable structural materials for the footwear industry, for an enterprise value of €115 million ($117 million).
Altamont Capital Partners Exits Investment In Fox Racing
After eight years of partnership with Fox Racing, Altamont Capital Partners has exited its investment with a sale of the company to Vista Outdoor.
Life Time Sees 42 Percent Growth In Q2
Life Time Group Holdings, Inc. reported sales grew 42 percent in the second quarter ended June 30 with gym memberships up 10.2 percent year-over-year across its nearly 160 athletic country clubs across the U.S. and Canada.
Unifi’s Q4 Profits Squeezed By Margin Pressures
Unifi, Inc. reported earnings slid in the fiscal fourth quarter ended July 3 as lower gross margins offset a sales gain of 18 percent. Results were consistent with expectations.
Vista Outdoor Adds Two Board Members
Vista Outdoor, Inc. elected two independent members, Gerard Gibbons and Bruce Grooms, to its Board of Directors during the company’s Annual Meeting of Stockholders on July 26, 2022.
Kitzuma Cycling Logistics Expands Operations
Kitzuma Cycling Logistics has expanded its fulfillment services with the recent acquisition of warehouse space in Salt Lake City and Asheville, NC. Kitzuma, the fully built bike delivery company, has created a one-stop shop for warehousing bikes, processing orders and shipping to retailers or consumers. With 20,000 additional square feet, Kitzuma is positioned to support […]
Mizuno’s Revenues Expand 8 Percent In First Quarter
Mizuno Corp. reported sales grew 7.8 percent in the first quarter ended March 31, driven by growth in the golf business.
Wolverine Worldwide Lowers Outlook Despite Second Quarter EPS Beat
Wolverine World Wide Inc. reported second-quarter earnings topped Wall Street estimates in the second quarter ended July 2, but sales fell short due to supply chain disruption. Guidance for the year was reduced due to expectations of higher promotional activity amid elevated inventories in the back half of the marketplace.
Acon Investments Increases Stake In New Era Cap
Acon Investments has announced closing a single-asset continuation round worth around $700 million to increase its stake in the New Era headwear brand while bringing in new backers. As part of the transaction, Major League Baseball, the National Football League and the National Basketball Association will become minority owners in New Era Cap.
Nautilus’ Q1 Revenues Tumble 70 Percent
Nautilus Inc. reported a steep loss in the fiscal first quarter as sales plunged 70.3 percent year over year. The fitness company said it achieved the upper end of its revenue guidance and beat its adjusted EBITDA guidance while. Direct net sales are up 27 percent vs pre-pandemic Q120 quarter.
