May 05, 2021
The bottom line swung back to $98.5 million in earnings against the prior year’s $99.3 million loss on a 28% gain in sales to $589.6 million from $459.1 million, that fell just 5% short of Q1 ’19.
On the eve of reporting its March quarter results, PTON has finally made the decision to deal with the albatross that has weighed on its reputation for several months, recalling all Tread and Tread+ treadmills in cooperation with the CPSC.
The Outdoor Industry Association’s outside trade attorneys, Ron Sorini and Andrew Samet, see several key trade programs returning soon, including Section 301 tariff exclusions, the Generalized System of Preferences program and perhaps a new Miscellaneous Tariff Bill.
The Big Cat promoted Hubert Hinterseher as its new chief financial officer and Arne Freundt as its new chief commercial officer.
The privately held bicycle component maker plans to issue a $1.1 billion term loan to finance a $750 million special distribution to shareholders, following a banner year where sales hit $974 million.
The National Rifle Association’s Ch. 11 filing in TX bankruptcy court was widely seen as a tactic to avoid a New York state lawsuit aimed at shutting down the firearms lobbying group after CEO Wayne LaPierre and other executives were accused of misusing funds.
MacNeill Pride, which is owned by PE firm Centre Partners, is expanding further into the outdoor space with the acquisition of outdoor furniture and camping gear company GCI Outdoor from founders Dan Grace and Jeff Polke.
The 50-year-old, Annapolis, MD-based surf, swim and casual apparel retailer operates 30 stores up and down the East Coast as well as an e-commerce site.