Compass Diversified Terminates Agreement To Sell Advanced Circuits
Compass Diversified (CODI) announced that its majority-owned subsidiary, Advanced Circuits, terminated its previously announced agreement and plan of merger, dated October 13, 2021, pursuant to which Advanced Circuits was to be sold to Tempo Automation, Inc.
Inflation Expected To Impact Back-To-School Spending
Numerator’s 2022 Back-To-School Survey of nearly 2,400 households found that 89 percent of respondents expect inflation to impact their back-to-school spending and increase cost-saving measures, including buying items on sale, reusing old supplie, and switching to cheaper brands.
Under Armour To Pay $67 Million To Settle UCLA Lawsuit
Under Armour has agreed to pay UCLA nearly $67.5 million to settle the school’s lawsuit with the company, according to a report in the Los Angeles Times. UCLA was seeking over $200 million in damages in its original lawsuit filed in August 2020 over Under Armour’s terminated UCLA contract.
Second Rally House Store Opens In Omaha Market
Rally House announced opening its second location in the Omaha market, Rally House Metro Crossing. The new store is in Council Bluffs, IA.
Canyon Bicycles Received $30M Investment Led By LeBron James & Partners
Canyon Bicycles announced a $30 million equity investment led by LRMR Ventures, LeBron James, Maverick Carter’s family office, and S.C. Holdings, a U.S. private equity firm. The investment values the direct-to-consumer cycle brand at €750 million.
Recall: PIEPS And Black Diamond Avalanche Transceivers
Black Diamond Equipment has recalled about 76,300 PIEPS and Black Diamond avalanche transceivers due to the risk of losing emergency communications.
Newell Brands’ Outdoor & Recreation Segment Sees 2.5 Percent Q2 Core Sales Growth
Newell Brands reported sales in its Outdoor & Recreation segment reached $427 million compared with $453 million in the prior year period, down 5.7 percent. The declines reflect core sales growth of 2.5 percent offset by exits from low margin categories and unfavorable foreign exchange.
Adidas Won’t Renew NHL Jersey Deal After 2023/24 Season
Adidas will not return as the NHL’s official supplier of uniforms and apparel when its agreement expires after the 2023/24 season.
Sidi Sport Acquired By Italian Investment Company
Sidi Sport, the Italian cycling and motorcycling footwear brand, has been acquired by Italmobiliare.
Winchester’s Q2 Sales Climb 9 Percent
Winchester sales for the second quarter were $439.9 million compared to $404.0 million in the second quarter of 2021, a gain of 8.8 percent, according to Olin Corp.
FDRA: Families Plan To Spend Same Or More On Back-to-School Shoes
The Footwear Distributors and Retailers of America (FDRA), in collaboration with First Insight, conducted a survey that shows 78 percent of families plan to spend more, or the same, as last year on their kids’ shoes.
Deckers Brands Lifts FY Outlook On Blowout Q1 For Hoka
Deckers Brands slightly raised its EPS guidance for its fiscal year after reporting earnings and sales in the fiscal first quarter ended June 30 topped Wall Street’s targets. The gains were led by an outperformance by Hoka, with sales up 54.9 percent year-over-year.
VF Corp. Lowers FY Outlook Due To Currency Impact
VF Corp. reported sales on a currency-neutral basis rose 7 percent in its fiscal first quarter ended July 2 as 37 percent growth at The North Face offsetting a 4 percent slide at Vans. Earnings and sales were below analyst targets, and VF lowered its guidance for the year to reflect ongoing negative impacts from foreign currency fluctuations.
Aqualung Group Names President, North America
Aqualung Group, the manufacturer of diving equipment and watersports, named Scott Rittschof president of Aqualung Group, North America.
Xponential Fitness Sees Strong Growth In Second Quarter
Xponential Fitness Inc., franchisor of boutique fitness brands, provided second quarter 2022 operating highlights, including same-store growth of 25 percent.
