Daily News Feed
Johnson Outdoors Stumbles in Q4
JOUT’s bottom line swung to a loss of $16,007,000 from a profit of $9,653,000 in the final fiscal quarter ended Sep. 29, on revenue that was more than halved to $96,345,000 from $196,389,000, primarily driven by the end of the pandemic-fueled demand over the past few years combined with higher inventory levels at retail.
Retail imports at U.S. container ports exceeded expectations in Oct., hitting 2.05 Twenty-Foot Equivalent Units and growing 3% from last year, well above the 1.92 million TEU forecast by the NRF and Hackett Associates.
The Finnish fishing tackle maker elevated its CFO, Jean-Philippe Nicolle to chief operating officer responsible for business performance, finance controlling and internal auditing, as of Jan. 1, 2024.
Two years after acquiring the brand from Rossignol, Pierer Mobility has decided to sell Felt to a new consortium led by Florian Burguet, its current chief sales officer for New Mobility at KTM, Bicycle Retailer first reported.
Lululemon Sees Sales Growth Slowing in Q4
A $72.1 million post-tax impact from impairment and other charges related to Lululemon Studio pulled third quarter net income down 3% to $248,714,000 from $255,470,000, as revenues surged 19% to $2,204,218,000 up from $1,856,889,000.
Net loss widened to $16,371,000 in the fiscal fourth quarter ended Sep. 30, from a loss of $281,000 last year, on revenues that were down 21% to $91,402,000 from $115,539,000.
Net income contracted 74% to $2,498,000 in the fiscal second quarter ended Oct. 31 from $9,648,000 a year ago, despite 3% higher revenues of $124,958,000 up from $121,035,000.
MTN’s retail and rental revenue declined 17% to $33,474,000 in the fiscal first quarter ended Oct. 31 from $40,344,000 in the historically slow period.
The ratings agency upgraded the league licensed kids’ apparel maker’s corporate family rating to Caa1 from Caa2 and its senior secured non-extended term loan to Caa2 from Caa3, while assigning a Caa2 rating to the amended senior secured term loan due 2027.
Sportsman’s Warehouse Guides for Q4 Loss on Inventory Clearance
A more promotional third quarter to move excess inventory resulted in a net loss of $1,331,000 against income of $12,877,000 for the period, as revenues slipped 5% to $340,569,000 from $359,720,000.
Bombas held onto the top spot in brokerage and investment banking firm, Stifel Financial’s 2023 sustainability index, but consumers still prioritize good value and low prices over brands’ sustainability bona fides.
The luxury sneaker brand’s corporate family rating and rating on its €480 million senior secured notes due May 2027 were maintained at B2, with a positive outlook on its strong operating performance.
The performance training company tapped former Timberland global president, Susie Mulder as COO, where she’ll be responsible for overall strategic direction and day-to-day operations.
Off Madison Ave, the travel and recreation marketing firm, has acquired Chris Goddard’s Boston-based public relations agency for undisclosed terms.
Four groups of nuns who collectively own about 1,000 SWBI shares have filed suit in NV state court, ostensibly on behalf of all shareholders, accusing the gunmaker of exposing itself to liability by making and marketing AR-platform rifles.
MSCHF lost its appeal in the U.S. Court of Appeals for the Second Circuit, which upheld a preliminary injunction and affirmed a temporary restraining order barring them from selling the Wavy Baby sneaker, which allegedly infringes on Vans’ Old Skool style mark.