Daily News Feed 06/13/2025 Industry Profits Fall on Flat Revenues in First Quarter
Following the Holiday quarter’s low-single-digit sales and profit gains, business slowed to start 2025, resulting in sales rising less than 1% to $53,776.8 million from $53,662.0 million at the 48 public companies we track, with aggregate net income down 9% to $2,403.7 million from $2,635.3 million. Sturm, Ruger Warns of Restructuring Costs
RGR’s new CEO, Todd Seyfert, said the company will incur between $15 to $20 million in charges for organizational restructuring and writing down obsolete or discontinued inventory. Kingmaker Sees Red Ink on Falling Sales
The Chinese footwear manufacturer said revenues declined around 10% for the fiscal year ended Mar. 31, which is expected to result in a net loss of between HK$33 million to HK$38 million for the period. Alpargatas Moves to Distributor Model for U.S.
The Brazilian footwear maker tapped Eastman Outdoor Group as the exclusive distributor of Havaianas brand products in the U.S. and Canada, shifting from direct operation of the sandal brand here. Under Armour Settles Shareholder Suits
Under Dog has agreed to settle two consolidated derivative suits filed against certain current and former officers and directors of the company. Etcetera: Peloton, Caleres, Champion
06/12/2025 Peloton’s New CEO Aims for Return to Growth
After over two years of work stanching the gushing on PTON’s P&L, the focus on return-to-grow is starting to take shape at the home fitness manufacturer, with new CEO Peter Stern outlining plans for new hardware and growing subscriber value at the Bank of America investor conference. Dick’s Inks Partnership with Uber, Renews Affirm Contract
DKS is partnering with Uber Eats to expand its digital footprint with on-demand or scheduled delivery for Dick’s and Golf Galaxy products, and also renewed its deal with Affirm. U.S. Bicycle Production and Assembly Act Introduced
The bipartisan legislation was introduced by Congressmen Vern Buchanan (R-FL) and Mike Thompson (D-CA) aimed at accelerating domestic bicycle manufacturing by removing key tariff barriers.
Mammut Sports Group is recalling about 622 Skywalker Pro Via Ferrata sets and packages because the carabiner can be opened without engaging the safety latch. Etcetera: SipaBoards, Topgolf, K-Swiss, FishUSA, Under Armour
06/11/2025 London Trade Talks See U.S. & China Come to Terms
The U.S.-China trade deal is done—in broad principles at least—and a 55% average levy on Chinese goods is waiting on the horizon, according to statements from Pres. Trump and Commerce Sec. Lutnick following the two-day sit-down of delegations in London. Eagle Nice Profits Slip, Despite Record Sales
Net income at the sports apparel maker declined 18% to HK$217,201,000 ($28.2 mm) in the fiscal year ended Mar. 31 from HK$263,510,000 prior, on revenues that improved 18% to a record high HK$4,807,899,000 ($624.4 mm) from HK$4,074,668,000. Woolrich Names New CEO After Baoxiniao Deal
Woolrich elevated its CFO, Lorenzo Flamini, to CEO, succeeding Stefano Saccone, who departed to run Peak Performance for Amer Sports earlier this year. Yonex Taps Adidas Vet to Run North America
The Japanese sporting goods brand hired LaNiece Douglas as president of Yonex North America, tasked with executing its growth plans here that included the April launch of a U.S. e-commerce platform. Etcetera: Carbitex, Nike, Newton Golf, Fanatics
|