January 17, 2022
The parent of Arc’teryx, Salomon, Wilson, Peak Performance and Atomic saw solid revenue growth in 2021 through Sep. 30, and total sales for the trailing 12 months were €2.5 billion ($3.0 bb), generating company-adjusted EBITDA of €299 million ($353 mm).
The ratings agency, which gave the Eager Beavertons a negative outlook in May of 2020, has now upgraded the outlook to stable, which confirming their blue-chip, A1 senior unsecured rating and Prime-1 commercial paper rating.
The apparel manufacturer that supplies Nike, Adidas and other brands has now resumed production is all its factories in Beilun District, Ningbo City, after temporary lockdowns due to a Covid outbreak were lifted by local authorities.
The Chinese sportswear brand is guiding for 2021 net income to soar at least 70%, helped by expanding gross margins and a relatively easy comparison to 2020, when an inventory buy-back from retailers hurt the bottom line.