March 28, 2022
New Balance has announced the opening of its 80,000 square foot “factory of the future” in Methuen, MA, for the production of its Made 990v5 running model, that was first confirmed in early 2019 but delayed through the pandemic.
Net income attributable to shareholders nearly tripled to HK$128,076,000 ($16.5 mm) last year from HK$45,895,000, on 53% higher revenues of HK$1,600,255,000 ($205.9 mm) up from HK$1,048,006,000 in the pandemic year.
The parent of Quiksilver, Billabong and other actions sports brands sees Moody’s cut its corporate family rating to Caa2 from Caa1, and also lower its senior secured super priority credit facility rating to Caa1 from B3.
MTN is entering the European market with the acquisition of a 55% stake in Andermatt-Sedrun Sport AG, one of the largest ski resorts in central Switzerland, for CHF$149 million ($160 mm).
GIL has amended and restated its $1 billion, 5-year revolving credit facility to incorporate sustainability-linked terms that adjust the borrowing costs based on the company’s performance on ESG goals.
The Footwear Trade Show Council (FTSC) was created to align the various existing footwear industry events in a collaborative alliance.
The outdoor brand filed two separate trademark suits in CA district court over its multi-colored P-6 logo against NY-based KirillWasHere LLC and affiliated companies, and VA-based The Fratty Guard, LLC.