February 11, 2021
Net income surged to $62,394,000 for the fourth quarter ended Jan. 2. over $4,742,000 prior, as revenues rose 26% to $375,768,000 from $297,602,000 driven by a 46% jump in Direct-to-consumer to $217.8 million.
The Santa Monica-based digital fitness streaming and nutrition company has entered into a three-way merger agreement with Myx Fitness Holdings, which sells connected exercise bikes, and publicly traded SPAC Forest Road Acquisition Corp.
New data from NPD Group and the Outdoor Industry Association paint a picture of sectors that thrived in the pandemic, as lockdowns eased and people sought out exercise and outdoor activities while gyms and indoor venues remained closed.
Fourth quarter comparable sales increased 21.9%, while full-year comps were even stronger, growing 22.2%, the small market retailer reported in advance of its formal year-end financials.
The ratings agency completed its review of VF that was initiated following the Supreme acquisition announcement, and has downgraded its long term ratings.
Demand for the zero interest convertible notes due 2026 was much stronger than expected, and PTON ended up selling the upsized offering plus the $125 million overallotment for gross proceeds of $1.0 billion.
The 30-year shooting industry veteran comes to the precision rifle and accessories maker from the helm of Capstone Precision Group.
Rep Fitness is recalling about 1,940 PR-4000 Strap Safety brackets, which attach to a power cage to catch barbells dropped due to missed lifts, because improper welds can cause them to detach.