Daily News Feed 11/20/2024 Solo Brands’ Turnaround Takes Shape
Phase 1 of the company’s turnaround plan is underway with a record slate of new product introductions set for 2025, first-year CEO Chris Metz shared at the Southwest IDEAS Conference, following extensive consumer research this year. Coats Group Sales Jump Double Digits
The industrial yarn and footwear component supplier said that sales improved 10% (+11% CC) for the three months ending Oct. 31, with apparel increasing 13% and footwear up 15%, partially offset by weakness in performance materials, which was down 1%. Bass Pro Parent Downgraded on Weak Boat Business
S&P Global cut its issuer credit rating on Great Outdoors Group, parent company of Bass Pro and Cabela’s, to BB- from BB, citing soft consumer spending and particularly weak operating performance in the company’s Marine segment. Sierra Opens Eight More Stores in Q3
TJX’s outdoor banner grew its fleet by another eight locations last quarter, ending with 109 doors covering about 2.3 million sq. ft., along with its e-commerce business. Puma Unveils High-Tech Fulfillment Center
The Big Cat opened its one million square foot warehouse and distribution center outside of Phoenix, AZ, aimed at doubling its daily order capacity from 100,000 to 200,000.
The Finnish smart ring maker teamed up with Dexcom, the glucose biosensing system, with the latter making a strategic $75 million investment in Oura at a more than $5 billion valuation. Etcetera: Sellmark, SP Connect
11/19/2024 Amer Sports Rides Arc’teryx, Asia to Q3 Gains
Benefiting from more than $60 million lower interest expense, profits attributable to shareholders improved to $55.8 million in Q3 from a loss of $37.7 million last year, as revenues jumped 17% to $1,353.8 million from $1,153.1 million with every segment and geography higher. Asics Sets New Targets after Shattering Forecasts
Last year’s renewed focus on profitability is performing well ahead of guidance, leading Asics to raise the ceiling on its 2026 targets, the company revealed at its 11th semi-annual Investment Day, alongside new project plans fueled by the rising cash flow. Stanbee Enters a Distribution Partnership in Indonesia
The U.S.-based athletic footwear components provider tapped PT Eco Mega Synergy to distribute its materials and products in Indonesia. Printful and Printify to Merge
Two of the biggest print-on-demand companies are combining to create a powerhouse aiming to provide a broader slate of services and streamline operations for e-commerce sellers.
The former chairman and CEO of Koenig Sporting Goods and NSGA board chairman passed away on Nov. 16 at the age of 81. Etcetera: Champion, Crocs, Swiftwick, Banshee Brands, Fanatics, Evergreen Outdoor Group, Stio
11/18/2024 Brands and Retailers Launch Holiday Campaigns
With the presidential election and its mountain of ad buys now in the rearview mirror, major brands and retailers are gearing up for the narrow Thanksgiving to Christmas window with television, online spots, and other promotions. Sales Drop at KMD Brands to Start Fiscal Year
The Group's total sales fell 5.8% for the two-month period that ended Oct. 24, with all brands declining in advance of the key Black Friday and Christmas retail trading periods. Kingmaker Warns on Weak FH1 Results
The Chinese footwear manufacturer said revenues were down about 15% for the fiscal first half ended Sep. 30, which is expected to result in a net loss of between HK$12 and HK$15 million for the period. Millet Dips a Toe in U.S. Market
The French mountaineering clothing, pack, and equipment brand appointed Remedy Sales Group as its sales agent for the Rockies and the Pacific Northwest, its first entry into the U.S. market. Hestra North America Names New President
The family-owned Swedish glove maker appointed James Hampton as president of Hestra North America, succeeding Dino Dardano, retiring after 20 years of running the brand here. Firearms Imports Sluggish in June
Handgun imports fell 35% in June to 219,060 units, according to ITC data compiled by the NSSF, including a 34% drop in pistol imports to 193,587 units, while revolver imports declined 39% to 25,471 units. Etcetera: Xtep, Macron, S&S Activewear, Cashion Rods, Charter Arms, Momentec, Asics
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