March 01, 2023
After a strong finish to 2022, The Big Cat’s new chief, Arne Freundt, warned that 2023 would see continued impacts from high inflation and high interest rates, the war in Ukraine and uncertain retail and consumer demand, slowing constant-currency sales growth to high-single digits.
In the fourth quarter, GOLF’s net loss narrowed to $58,000 from a loss of $26,434,000 on sales that increased 6% to $447,404,000 from $420,566,000 and would have been up 14% constant currency, hurt by the strong dollar against the Euro, Yen and Won.
After years of strong growth from Active apparel powered by assortments from Nike, Adidas, Under Armour and Champion, revenue in the category declined in Q4, with sales of national brands down high-single digits.
Revenue at CODI’s 5.11 was up 9% to $135,605,000 from $123,954,000, with EBITDA posting an 18% gain to $19,635,000 over $16,608,000, as strong e-commerce performance kept DTC comps positive.
The protective equipment maker filed suit in No. NY district court against distributor Dynamic Apparel Design, LLC (dba Mercury Screen Printing) for breach of contract after failing to pay $480,665.94 for lacrosse shoulder pads and chest protectors.
Bindle Bottle is voluntarily recalling some of its insulated food and drink bottles because they may contain lead in the bottom storage compartment, posing a serious health risk.