March 14, 2023
Net income posted a 21% gain to $40,808,000 to finish the year from $33,854,000 last year on sales that were up 3% to a quarterly record $696,434,000 from $679,280,000, but Famous Footwear sales inched up just 0.1% to $402.3 million as comps ticked up 0.7%.
The Matrix, Horizon and Vision parent’s net income attributable to shareholders rose more than tenfold to TWD 429 million ($14.3 mm) for the year, up from just TWD 38 million in 2021, which included a TWD 384 million impairment charge.
The parent of Myx exercise bikes’ connected fitness segment sales tumbled 87% to just $4,746,000 in the fourth quarter from $36,801,000 a year ago, lapping the Myx bike’s Holiday ’21 launch.
The re-commerce platform’s inaugural Brand Resale Index gave REI the top spot overall with a 72% score, while Arc’teryx (68%) led all outdoor brands, and Swiss sneaker brand, On (59%) topped the footwear category.
The British materials and technology company, which manufactures colored carbon fibers, appointed the former Wilson Sporting Goods president to its board as a non-executive director.
Following Puma’s move earlier in the month to stop making soccer boots with kangaroo leather, Nike has now followed suit, and will phase out its use by the end of the year in favor of synthetic uppers.
The outdoor retailer selected four pre-revenue industry startups out of 40 submissions as the winners of its fourth-annual Outdoor Accelerator Program in conjunction with partner ICELab.
The former president & CEO of Covina, CA-based Chick’s Sporting Goods, James M. Chick passed away on Mar. 7 at the age of 76.