VF Corp.’s Fourth Quarter Boosted by The North Face
VF Corp. reported sales rose 12 percent on a currency-neutral basis in the fiscal fourth quarter ended April 2 with sales ahead 24 percent for The North Face and 2 percent for Vans. Earnings per share were ahead 67 percent with both earnings and sales in line with Wall Street targets. For the current fiscal year, VF’s revenue is expected to climb at least 7 percent in constant dollars with low double-digit growth at The North Face and mid-single-digit growth at Vans.
Pelican International Acquires GSI Outdoors
Pelican International, Inc, has acquired a majority stake in GSI Outdoors. The acquisition is part of Pelican’s push to diversify its offering in the North American and international outdoor market.
United Wheels Appoints President And COO
United Wheels, Inc., the parent company of Huffy, Niner, Batch, VAAST, and Royce Union has appointed Bruno Maier as president and COO. Claude Jordan, CEO for four years, is retiring but will remain as a senior advisor during the transition.
Nautilus Welcomes New Board Member
Nautilus Inc. announced that Ruby Sharma was appointed to its Board of Directors.
Moody’s Places Debt Ratings Of Vista Outdoor Under Review For Downgrade
Moody’s Investors Service placed the ratings of Vista Outdoor, Inc. under review for downgrade following its announcement on May 5 that it plans to separate its Outdoor Products and Sporting Products segments into two independent, publicly-traded companies.
Canada Goose Posts Surprise Profit In Fiscal Fourth Quarter
Canada Goose Holdings Inc forecast annual earnings and revenue above Wall Street expectations after reporting a surprise fiscal fourth-quarter profit.
Kohl’s Q1 Falls Far Short Of Earnings Expectations
Kohl’s reported earnings in the first quarter came in well below Wall Street’s targets as same-store sales fell 5.2 percent. The retailer significantly lowered its guidance for the year.
Senior Executives Step Down From Kohl’s
Kohl’s Corp. announced in a regulatory filing Wednesday that Chief Marketing Officer Greg Revelle is departing in June and Chief Merchandising Officer Doug Howe will leave immediately.
Patrick Frisk To Step Down From Under Armour As President And CEO
Under Armour, Inc. announced that Patrik Frisk will step down as president and CEO and as a member of its Board of Directors effective June 1, 2022. The board has initiated an internal and external search for Frisk’s replacement. Colin Browne, Under Armour’s COO, has taken the helm as interim president and CEO effective June 1, 2022.
Strava Acquires Injury Prevention App
Strava has acquired Recover Athletics, the prehab app for runners, giving Strava subscribers access to the company’s content, including personalized prehab and injury prevention exercise plans.
Century 21 To Reopen Manhattan Flagship Store
Century 21 announced plans to reopen in Spring 2023 at its former location near the World Trade Center in downtown Manhattan. The reopening comes two years after the store closed due to the pandemic.
Faxon Firearms Names New Director Of Sales
Faxon Firearms, a Cincinnati, OH-based manufacturer of rifle and pistol components, and complete firearms, appointed Jack Jameson as director of sales.
Nike’s Diversity Chief To Exit; New DEI Officer Hired
Felicia Mayo, who has worked as Nike’s chief talent, diversity and culture officer since July 2020, is leaving the company at the end of July 2022, according to an internal memo obtained by The Financial Times.
TJX Sees Q1 Sales Below Expectations
The TJX Companies, Inc. reported earnings in the first quarter topped Wall Street’s guidance, but sales were below plan, and the retailer lowered its U.S. growth guidance for the year.
EGrips Unifys Under Trango; Adds Executive Hires
Trango, the manufacturer and international distributor of technical climbing equipment, is unifying its organization and suite of climbing gear under the company name Trango, including eGrips, the climbing hold brand.
