January 19, 2023
CODI unveiled its 5-year growth targets along with some color on the suspended 5.11 IPO and recently acquired PrimaLoft’s priorities during its 2023 Investor Day.
The usual suspects—Nike, Jordan, Adidas, New Balance and Converse—continue to dominate sneaker sales on StockX, but so-called “Gorpcore” rugged brands are gaining on the top five, according to the resale platform’s 2023 Current Culture Index.
The maker of REPREVE and other recycled and synthetic yarns said that revenues in the fiscal second quarter ended Jan. 1 tumbled as much as 25% to between $135 and $137 million, lower than its guidance for a 10% to 15% decline.
S&P Global said that WWW’s high-5x adjusted leverage led it to cut its issuer credit rating to BB- from BB and lower its ratings on the company’s $1 billion revolver and $200 million term loan to BB from BBB-.
The VF Corp.-owned workwear brand has been building up its marketing leadership team since Sarah Crockett was named CMO last year, and the latest round includes four appointments.