Nike Inventory Woes Persist, but China Shows Signs of Life
Increased discounting to clear excess inventory weighed on the bottom line in Nike’s fiscal third quarter, sending net income down 11% to $1,240 million from $1,396 million on 14% higher sales of $12,390 million vs. $10,871 million, that would have been up 19% constant currency.
Anta Sports’ Growth Slowed Last Year after Huge 2021
Net income attributable to shareholders slipped 2% in 2022 to RMB 7,590 million ($1,126.6 mm) from RMB 7,720 million as revenue posted an 8% gain to RMB 53,651 million ($7,963.6 mm) from RMB 49,328 million.
Fila Sees Slowing U.S. Sales, Higher Inventories
Acushnet’s continued solid performance and the strong dollar offset parent Fila’s struggles elsewhere in the fourth quarter, sending consolidated revenue up 4% to KRW 896,740 million ($659.5 mm) from KRW 859,258 million the year before.
On Running Aims Higher after Billion-Dollar Year
In its first full year as a public company, ONON joined the 10-figure club and turned a profit in 2022, and is now aiming for 39% growth this year to at least CHF 1.7 billion in revenues with even stronger margins.
Fanatics Taking Over NHL Uniform Sponsorship
The licensed apparel juggernaut will succeed Adidas as the on-ice apparel supplier to the National Hockey League after the 2023-24 season, in a 10-year deal.
Turtle Fur Sets New Senior Leadership
The outdoor and lifestyle headwear and accessories maker appointed three executives to its leadership team, naming Jim Osgood as CEO, succeeding its former owner Richard Sontag, who sold a majority stake to Camano Capital last June.
Newell Brands Downgraded to Junk Rating by S&P Global
The parent of Coleman, Contigo, Marmot and other outdoor brands’ issuer credit rating and rating on its unsecured notes were cut to BB+ from BBB by S&P.
OIA Names Kent Ebersole President
The Outdoor Industry Association elevated Kent Ebersole to president, following six months on the job in an interim capacity after Lise Aangeenbrug departed last Aug. to join the National Park Foundation.
New Era Cap Settles Trademark Suit
The headwear and apparel company reached a settlement with Twnty-Two, Inc. and its owner Gary Gonzalez, according to a filing in NY district court.
Etcetera: Rab, Lowe Alpine, PrimaLoft, Pure Archery, SilencerCo