Brian Moore Appointed Senior Vice President, Global Product, Saucony
Saucony, a division of Wolverine Worldwide, Inc. announced it had appointed industry veteran Brian Moore to senior vice president, global product, effective immediately.
Stio Continues U.S. Expansion With Three Mountain Studio Stores
Stio announced it would open three new Mountain Studio retail stores.
LIV Golf Investments Hires Key Leadership Roles
LIV Golf Investments, led by golf legend Greg Norman, appointed Will Staeger as chief media officer. Also joining its leadership team are Slugger White, vice president, Rules & Competition Management and Jane MacNeille, vice president of communications.
Adidas Shaves 2021 Forecast On Sourcing Disruptions
Adidas slightly lowered its full-year sales and profit forecasts, citing sourcing disruptions and a tough market environment in China after third-quarter results missed analyst expectations. Currency-neutral sales in the third quarter increased 3 percent. On a currency-neutral basis, revenues in EMEA and North America both grew 9 percent, Latin America surged 55 percent and Asia-Pacific fell 8 percent.
Wolverine Trims Full-Year Earnings Outlook On Supply Chain Woes
Wolverine World Wide, Inc. reported strong sales and underlying earnings gains for the third quarter ended October 2, 2021, but slightly reduced its earnings guidance to reflect recent supply chain challenges.
Callaway Golf’s Q3 Revenues Surge 80 Percent
Callaway Golf Co. reported sales in the third quarter jumped 80 percent to $856 million, driven by a recovery in Topgolf’s sales and supported by continued demand for golf equipment and apparel. The company raised its sales and earnings guidance for the year.
Nautilus Q3 Revenues Decline On Reduced Direct Sales And Shipping Constraints
Nautilus Inc. reported sales declined 11.2 percent in the second quarter due to lower Direct sales and shipping constraints but grew 124 percent on a two-year basis, driven by triple-digit gains across both Retail and Direct segments compared to 2019 levels. The fitness equipment maker showed an operating loss in the latest period due to the impact of logistic costs and investments in its JRNY platform.
Fanatics Plans $500 Million Debt Offering
Licensed sports merchandise giant Fanatics Commerce Intermediate Holdco LLC plans to issue a $500 million senior secured term loan to fund investments at its parent entity, Fanatics Holdings Inc. S&P assigned a ‘BB-‘ credit rating to the debt issuance while Moody’s assigned a Ba3 CFR rating.
Newell Brands Debt Ratings Outlook Upgraded
Moody’s Investors Service revised its debt rating outlook on Newell Brands Inc. to positive from stable due to the company’s increased priority on prioritizing reducing leverage.
Aqualung Hires Director Of North America Operations
Aqualung announced it has hired Tim Vidmar as director of North America operations for the company. He joins the company after a decade at Fox Racing.
Titan Fitness Named Official Partner Of Spartan North America
Titan Fitness has signed on as an Official Partner of Spartan North America. The fitness equipment provider also becomes Official Training Partner of the Spartan Fit App, the Official Partner of DEKA, the Official Fitness and Training Equipment Partner of Spartan North America, and the Official Partner of the Spartan Pro Team
Canada Goose Achieves Responsible Down Certification
Canada Goose announced that it has achieved certification under the Responsible Down Standard (RDS*). With this accreditation, the brand joins other Responsible Down Certified global manufacturers who embrace sustainability and animal welfare.
Macy’s Boosts Minimum Wage And Benefits To Workers
Macy’s said it will raise the minimum wage to $15 per hour by next May due to a tight labor market. The department store chain is also adding an education program that will cover 100 percent of tuition, books and fees.
OBIT: Alan Mossberg
On November 6, Alan Mossberg, chairman of O.F. Mossberg & Sons, Inc., passed away at his home in Tierra Verde, FL. He was 89 years old.
Remington Firearms To Locate Global Headquarters, Advanced Facility In LaGrange
Georgia Governor Brian P. Kemp announced Remington Firearms (RemArms) will locate its global headquarters and open an advanced manufacturing operation and an R&D center in LaGrange, GA.
