OBIT: Frank’s Sport Shop’s Moe Stein
Moe Stein, president and the iconic face of Frank’s Sport Shop in Bronx, NY, passed away at the age of 93.
G-III Apparel’s Sales Expand 25 Percent In Second Quarter
G-III Apparel Group, Ltd. reported a strong uptick in earnings in the second quarter ended July 31 as sales grew 25 percent. The apparel maker lowered its guidance for the year due to the macroeconomic climate.
Ammo, Inc. Moves Against Dissident Director
Following last week’s proxy challenge by its largest shareholder and chief strategy officer, Steven Urvan, Ammo, Inc. announced that it had placed Urvan and GunBroker CFO Susan Lokey on administrative leave.
Academy Sports Q2 EPS Exceeds Wall Street Targets
Academy Sports reported earnings in the second quarter came in comfortably ahead of Wall Street expectations. Comps declined 6.0 percent against challenging year-ago comparisons but improved sequentially versus the first quarter. The sporting goods chain reiterated its 2022 full-year net and comparable sales guidance.
Castore Secures New Debt Facility
Castore, the UK sportswear brand, has secured a new £50 million ($63 mm) revolving credit facility (RCF), valuing the company at £750 million ($942 mm).
Newell Brands Lowers Outlook For Q3 And Full Year 2022
Newell Brands, Inc. announced updates to its outlook for Q3 and the full year 2022, reflecting a more challenging than anticipated operating and consumer backdrop.
NSGA Sporting Goods Industry Hall Of Fame Elects Class Of 2023
NSGA Sporting Goods Industry Hall Of Fame announced its Class of 2023, which includes James Clifford Keen, Cliff Keen Athletic; Jeff Lynn, Dunham’s Sports; and Kent McKeaigg, OrderMyGear.
Stio Hires Vice President Of Sales
Stio hired Alex Brown as vice president of sales to lead the strategy and development of its wholesale and corporate channels.
Big Rock Sports Announces President
Big Rock Sports, LLC and parent company Peak Global Holdings, hired David McCartney as president of Big Rock Sports.
Puma IT Executive Joins Jesta I.S.
Jesta I.S., Inc., a developer of modular cloud solutions and ERP for retailers and brand manufacturers, hired Jon Vacca, its chief operating officer.
Li & Fung May Face Debt Ratings Downgrade
Moody’s Investors Service has placed on review for downgrading Li & Fung Limited’s ratings. The review follows the company’s announcement on August 31 that it had completed the sale of LF Logistics Holdings, Ltd. and its various entities to A.P. Moller-Maersk A/S.
New Era’s Debt Ratings Downgraded Due To Increased Financial Sponsor Ownership
S&P Global Ratings lowered its issuer credit rating on New Era Cap LLC to ‘B’ from ‘B+’ following the move by private equity firm ACON Investments in early August to increase its ownership stake significantly in New Era through a non-common equity transaction.
Report: Kohl’s Gets Bid For Real Estate
Private equity firm Oak Street Real Estate Capital, LLC has reportedly offered to acquire as much as $2 billion in property from Kohl’s Corp.
True Spec Golf Opens Flagship In Scottsdale
True Spec Golf announced that the company had opened a flagship studio in Scottsdale, AZ.
Imperial Acquires J.T. Spencer
Imperial, the golf headwear brand, announced the acquisition of J.T. Spencer, the American belt manufacturer based in Richmond, VA. J.T. Spencer is the official belt licensee of Peter Millar and operates Peter Millar’s custom logo green grass belt program.
