Massachusetts Creates Office Of Outdoor Recreation
Massachusetts created an Office of Outdoor Recreation headquartered in the Executive Office of Energy & Environmental Affairs. It is the 18th state in the nation to do so.
Academy Sports’ Q3 Comps Slide 7.2 Percent
Academy Sports and Outdoors, Inc. reported earnings on an adjusted basis declined slightly in the third quarter ended October 29 against difficult year-ago comparisons but topped Wall Street expectations. Same-store sales were down 7.2 percent with overall sales coming in below analyst targets. Sales were up 30.5 percent versus the pre-pandemic 2019 third quarter.
Cytech Acquires Pasasport
Italian manufacturer of arm pads and inserts for cycling clothing, Cytech, reported it acquired a majority of shares in Pasaport, a manufacturer of gloves and accessories.
Thor Industries’ Profits Fall In First Quarter
Thor Industries, Inc. reported profits fell 43.8 percent in the first fiscal quarter ended October 31 on a 21.5 percent sales decline.
Fanatics Reaches $31 Billion Valuation After $700 Million Investment Round
According to the Wall Street Journal, Fanatics, Inc. raised about $700 million from a group of investors, supporting a valuation of $31 billion.
Smith & Wesson’s Q2 Revenues Decline 47.5 Percent
Smith & Wesson Brands, Inc. reported a significant decline in earnings year-over-year in the second quarter ended October 31 as sales dropped 47.5 percent and gross margins decreased.
Bioniq Acquires Vaha
Bioniq, the London-based provider of personalized healthcare supplements, reported it acquired Vaha, the German-based home fitness mirror brand.
SoulCycle Partners With ClassPass
ClassPass announced SoulCycle is bookable on the company’s ClassPass app.
PrairieFire Acquires Front Sight
PrairieFire completed its acquisition of Front Sight from Chapter 11 bankruptcy proceedings. The U.S. Bankruptcy Court approved the plan to purchase the business on November 29, 2022, and the sale closed on December 2, 2022.
Nanuk/Plasticase Names VP Global Sales, Consumer Division
Nanuk/Plasticase, Inc., the manufacturer of waterproof protective cases, hired Kenny Ballard as VP of global sales, Consumer Division.
Metabolism Tracker Lumen Raises $62 Million
Lumen, an Israeli med-tech company that manufactures a device to check metabolism, raised $62 million in a Series B funding led by Pitango Venture Capital.
Icebreaker Names Senior Manager, U.S. Wholesale
Icebreaker hired Jamie Baker as senior manager of U.S. Wholesale, effective immediately.
Brookfield Buys Label Maker Trimco
According to a Bloomberg report, Affinity Equity Partners sold Hong Kong-based clothing label maker Trimco Group to Brookfield Asset Management. The deal values Trimco, which counts Nike as one of its biggest clients, between $800 million and $900 million.
3Step Sports Acquires North Pacific Juniors Volleyball Club
3Step Sports reported it acquired the North Pacific Juniors Volleyball Club (NPJ) to its volleyball organization as it expands into the Pacific Northwest.
Mustang Survival President Resigns
Jason Leggatt, president of Mustang Survival and Andrew Branagh, the CEO of The Wing Group, announced that Leggatt had resigned from his position. He will remain with the company as a member of its Board.
