Rugged outdoor footwear sales rose by double-digits for a second consecutive year in 2022 with a 20.3% growth rate in the U.S. outpacing the still-impressive 14.1% total gain in all non-U.S. markets.

Net income attributable to shareholders declined 38% in the third quarter to TWD 1,688.9 million ($53.3 mm) from TWD 2,722.3 million, as revenues slipped 11% lower to TWD 23,072.9 million ($727.9 mm) from TWD 25,881.2 million.

The industrial yarn and footwear component supplier’s reported revenue slipped 9% year-on-year in the period covering July through Oct.

Moody’s maintained its Ba3 corporate family rating for Fanatics Commerce, but reduced its rating on the senior secured term loan B to B1 from Ba3, while revising its outlook to negative from stable.

The ratings agency lowered Wolverine Worldwide’s corporate family rating and probability of default rating to B3 from B1, and the rating on its senior unsecured debt to Caa2 from B3, changing its outlook to stable from negative.

The UK-based parent of Rab and Lowe Alpine has launched a search for a new CEO as founder and current chief, Matt Gowar plans to resign from the role next year.