February 24, 2022
Net income improved by 20% in the fourth quarter to $38,121,000 from $31,713,000, but sales inched down 1% to $168,041,000 from $169,260,000 as Ruger worked to build up its own stocks and refill the long-depleted distributor channel.
CODI postponed the public spinoff of its 5.11 ABR Corp. subsidiary due to weak market conditions, and will continue to grow the brand under its umbrella until it can be divested some time in the future.
Net income gained 37% to €411,367,000 ($486.2 mm) in 2021 from €300,351,000 prior, on revenues that were up 42% to €2,046,103,000 ($2,418.6 mm) from €1,440,409,000.
Employees at REI’s SoHo, New York City, store said they will hold a vote on Mar. 2 to decide whether to form a union, a first for the outdoor co-op.
Net income climbed 19% to $37,734,000 from $31,796,000 on sales up 31% to $342,329,000 from $262,391,000, boosted by a 47% jump in Specialty Sports Group (bike) sales on continued strong demand in the OEM channel.
Dan Sheridan, who has worked for Brooks Running for 24 years and is well respected in the running shoe industry, has been promoted to president and COO, while Matt Dodge, who has led the brand to record growth in the EMEA in recent years, is named vice president and managing director for Brooks International.
ABG, which already counts athlete brands Muhammad Ali and Shaquille O’Neal in its portfolio, will jointly manage the soccer icon’s brand with Beckham’s existing global brand management firm.
Following its $4.5 million seed round last year, the connected rowing machine company raised another $18.5 million in a Series A round that was led by Stripes, an early investor in On Running.
Sole Fitness will pay $3,650,000 into a common fund for customers who purchased any of its 20 models of treadmills since Dec. 2, 2017, settling a class action suit that said the horsepower of its treadmills were underpowered.
Resolving a patent dispute that has spanned more than 16 years, a CT federal judge ruled that Sports Tutor owes ProBatter Sports $776,000 in damages for infringing on its patents nos. 6,182,649 and 6,546,924 for a baseball pitching machine.