March 28, 2022 New Balance Opens New U.S. Factory
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. Mainland Headwear Sees Improved Results
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. Boardriders’ Debt Ratings Lowered by Moody’s
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. Vail Resorts Acquires Majority Stake in Swiss Resort
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). Gildan Inks Green Credit Agreement
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. Footwear Industry Forms Trade Show Council
The Footwear Trade Show Council (FTSC) was created to align the various existing footwear industry events in a collaborative alliance. Patagonia Suing Two Companies Over Logo
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. Etcetera: The Pro’s Closet, Fanatics, PXG, Skechers
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