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February 06, 2023


Descente Profit Doubles in Holiday Quarter

Net income more than doubled to ¥5,040 million ($35.6 mm) in the fiscal third quarter ended Dec. 31, against ¥2,465 million prior, on revenues that grew by 8% to ¥28,889 million ($204.3 mm) from ¥26,755 million.

Hanesbrands Gets Ratings Agency Downgrades

Both Moody’s and S&P Global dinged HBI following its weak Q4 results reported last week, despite the announcement that it was suspending its dividend, a move that ratings agencies normally applaud.

Wolverine’s Lowered Guidance Earns Moody’s Downgrade

The ratings agency cut WWW’s corporate family rating to Ba3 from Ba2, and lowered its rating on the company’s senior unsecured notes to B1 from Ba3, with a negative outlook.

Zegna Acquires Minority Stake in Norda Run

The Italian luxury group has acquired a minority stake in Canadian technical trail running shoe brand, Norda Run with the option to gradually increase its stake over the next nine years.

REI Cleveland Sets Date for Union Vote

Workers at the outdoor co-op’s Beachwood, OH, store will decide whether to join the Retail, Wholesale, and Department Store Union, in a vote set for Mar. 3.

Squadlocker Taps New CEO

The custom apparel and gear software and fulfillment platform, appointed former Capital One and VistaPrint exec, George Overholser as its new CEO.

Club Conex Files ITC Complaint over Golf Adaptors

The True Spec Golf subsidiary filed a complaint with the International Trade Commission seeking to block the importation of golf shaft adaptors that it says infringe on its products.

Etcetera: Moncler, Adidas, Jelenew, Riversmith, Algonquin Outfitters

 
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