April 29, 2021
Net income in the first quarter was $55,900,000, up from just $213,000 a year ago, as the top line returned to growth, expanding 10% to $625,606,000 from $568,228 million, lapping the start of the pandemic last year.
CODI’s net income spiked 351% to $21,996,000 from $4,880,000 on 38% sales growth to $461,596,000 over $333,449,000 for the first quarter on the addition of revenues from the Marucci Sports and Boa acquisitions.
Ergatta, the Brooklyn-based startup which sells a $2,199 (plus $29 per month) connected home rowing machine that gamifies workouts, has raised $30 million in new equity at a $200 million valuation.
Moody’s changed its outlook for Academy to positive from stable, in its first look at the retailer since the fall, when ASO paid down and refinanced its long term debt on significantly improved terms.
Standard & Poor’s revised its outlook for the Famous Footwear parent to stable from negative, based on an expected healthy recovery in sales through 2021.
The world’s largest container shipping company, Maersk expects a continuation of the current maritime transport market situation into the fourth quarter of 2021, with surging demand leading to bottlenecks in the supply chain and container shortages.
The company tapped Michael Dastugue, former chief financial officer of Walmart U.S., Sam’s Club and J.C. Penney to replace Barry Hytinen in that role at Hanesbrands.
The outdoor retailer will open three stores in the U.S. by the end of the year, with the first opening next month at Tuscan Village in Salem, NH.
The Sports & Fitness Industry Association will hold its annual executive conference online this year on Nov. 9-11, dubbing it SFIA Trends & Insights 2021.