March 07, 2023
Net income slipped 32% in the fourth quarter to $235,621,000 from $346,093,000 on sharply lower product margins and a $30.1 million writedown for closing a dozen Field & Stream stores, but revenues ticked up 7% to $3,596,713,000 from $3,352,160,000, handily exceeding expectations.
The embattled connected fitness company gave some insight into upcoming product releases and improving its operating metrics in a presentation at Morgan Stanley’s investor conference.
The neglected lower-end of the market will see a push through 2025 as part of an effort to stabilize EBITDA margins in the 10%-15% range, GPRO management said at Morgan Stanley’s investor conference.
Whitney Malkiel, Nike’s VP/GM women’s and a two decade Swoosh veteran, has decided to leave the company, and will be succeeded by Amy Montagne, who is currently VP/GM, APLA effective Mar. 13.
Weyco Group’s outdoor brand dropped 14% in the final quarter, hurt by mild weather and retail destocking, lapping last year’s record gains, but finished the year up 23% from 2021 to an implied $70 million.
The Vail Resorts subsidiary has informed the state of CO that it plans on shuttering 19 stores across the state, laying-off more than 140 employees.
The proceeds of the offering may be used by VFC to finance sustainable projects, including investments in sustainable products and materials, sustainable operations and supply chain, and natural carbon sinks.
Hanesbrands intends to redeem the outstanding 4.625% Senior Notes due 2024 for 100% of the $900 million principal amount plus accrued and unpaid interest.