February 07, 2023
After multiple guidance cuts over the past six months, VFC chief Benno Dorer, who replaced Steve Rendle on an interim basis in Dec., affirmed the company’s latest guidance for approximately 3% revenue growth and adjusted earnings of $2.05 to $2.15 per share, within the previous outlook of $2.00 to $2.20.
Finishing its first year as a public company, SSU’s net loss soared to €539.3 million ($567.1 mm) for the 12 months ended Sep. 30, from a loss of €37.7 prior, on 31% higher revenues of €1,062.8 million ($1,117.6 mm), up from €813.7 million.
The bottom line swung to a $3,565,000 loss from last year’s income of $3,645,000 on a top line dip of 3% to $107,295,000 from $110,746,000 for the fiscal first quarter.
GOOS leaned into its ongoing lifestyle brand shift at its first Investor Day since it’s 2017 IPO, laying out a five-year plan to $3 billion in revenue with a 30% EBIT margin through product line and DTC expansion.
Net income increased 28% in fiscal Q3 ended Dec. 31 to ¥10,424 million ($73.7 mm) from ¥8,157 million prior, while revenues grew by 16% to ¥41,437 million ($293.0 mm) from ¥35,574 million at the owner of The North Face, Helly-Hansen, Canturbury and other brands for Japan.
Columbia will source up to $200 million in products from Central America over the next five years, as part of VP Kamala Harris’ Partnership for Central America initiative that aims to address the root causes of migration.
GOLF is adding the 32-year-old golf headcover and travel accessory brand to its portfolio of brands, acquiring it from West Coast Trends, Inc., for undisclosed terms.
Yeti announced that it will no longer sell its Hopper M20 Soft Backpack Cooler, Hopper M30 Soft Cooler, and SideKick Dry Gear Case, due to them posing a risk of injury.