July 26, 2021
The Swedish parent of Royal Robbins, Fjällräven and other outdoor brands had an operating profit of €7.3 million ($8.8 mm), up 92% from €3.8 million last year, on 27% higher sales of €128.7 million ($155.1 mm) against €101.7 million.
The office of the U.S. Trade Representative issued a determination confirming that no action under its Section 301 investigation was warranted, following Vietnam’s agreement with Treasury over currency valuation practices.
The NordicTrack, ProForm and Freemotion parent has acquired endurance hiking event creator, 29029, which helped popularize Everesting, or climbing 29,029 feet over multiple sessions, the cumulative equivalent of Mt. Everest.
The producer of simulators for golf and other sports sees North Castle Partners sell a controlling interest to PE firm, Bruin Capital, while remaining as a minority shareholder.
Electric Bicycle Incentive Kickstart for the Environment Act (S. 2420) would offer e-bike buyers a 30% tax credit, or up to $1,500, on the purchase of a new electric bicycle.
Asics Ventures, the sportswear brand’s investment subsidiary, has taken an unspecified stake in healthcare startup, Japan HealthCare Co., Ltd., which makes custom insoles working from photos of feet taken by smartphone.