Nextiles Raises $5M In Funding Round To Build Fitness Trackers
Nextiles, a smart fabric technology for athletes, announced its $5 million seed round led by Drive by DraftKings, with participation from the NBA, Madison Square Garden Sports Corp., Alumni Ventures, SmartSports, Phoenix Capital Ventures, and Newlab.
G-III Apparel’s Sales Jump 33 Percent In First Quarter
G-III Apparel Group, Ltd. reported earnings rose 16 percent in the first quarter on a 32.5 percent revenue gain. The company raised its outlook as sales and EPS both exceeded expectations.
Academy Sports Q1 Tops Expectations
Academy Sports reported first-quarter results that topped Wall Street targets but the retailer still slightly lowered its outlook due to macroeconomic challenges. Ken Hicks, CEO said, “We are satisfied with our first-quarter results as the company continued to position itself for long-term growth and expansion as we executed effectively in a highly dynamic environment and against a very strong prior-year quarter.”
Camano Capital Becomes Marjority Shareholder Of Turtle Fur Brand
Turtle Fur, the outdoor brand headquartered in Morrisville, VT, announced that Seattle and Minneapolis-based investment firm, Camano Capital, has become the majority shareholder in the company.
Rocky Brands To Close Boston Office Following Cost Review
Rocky Brands, Inc. plans to close its Boston office attained via its acquisition of the lifestyle footwear business of Honeywell International, Inc. and reduce its non-manufacturing headcount related to the acquired brands by approximately 13 percent, resulting in approximately $3.0 million to $4.0 million in annualized savings.
American Outdoor Brands Adds Independent Board Member
American Outdoor Brands, Inc. announced that Luis G. Marconi has joined the company’s Board of Directors as an independent director. Most recently, he was group vice president of Grocery Products at Hormel Foods Corporation.
Gathr Outdoors Acquires WaterPort
Gathr Outdoors announced its acquisition of Vista, CA.-based WaterPort, a maker of water tanks for cleaning and rinsing camp shower equipment.
Kohl’s, Franchise Group Enter Exclusive Negotiations Over Sale
Kohl’s Corp. reported that it’s in exclusive talks with the Franchise Group over a possible $8 billion takeover.
StockX Calls Nike Suit “Anticompetitive” Attempt To Stifle Resale Market
Sneaker marketplace StockX fired back Monday against Nike Inc’s claims that it sold counterfeit Nike shoes, telling a Manhattan federal court that the sneaker giant had previously praised StockX’s efforts to weed out fakes.
ZT Corporate Acquires Baseball Nation
ZT Corporate, a Houston-based private equity firm, announced the acquisition of Baseball Nation, a baseball organization that hosts training, multiple leagues and tournaments at its North Texas facilities.
Peloton Appoints CFO
Peloton Interactive, Inc. announced it had appointed Liz Coddington as chief financial officer, effective June 13, 2022.
Compass Diversified To Acquire PrimaLoft
Compass Diversified (CODI) has entered into a definitive agreement to acquire the equity of PrimaLoft Technologies Holdings, Inc., the parent company of PrimaLoft Inc., for an enterprise value of $530 million.
RYU Appoints New CFO
RYU Apparel has hired Robert Lelovic as chief financial officer.
PLAE Appoints Director Of Product Innovation
PLAE, the fitness equipment maker based in Canton, GA, hired Roy Simonson as director of product innovation.
REI To Open Third Location In South Carolina
REI Co-op will open a new store in Mount Pleasant, SC in fall 2022.
