March 17, 2023 Li Ning’s Rising Costs Flatten 2022 Profits
The bottom line inched up just 1% to RMB 4,063,834,000 ($603.2 mm) last year from RMB 4,010,881,000, despite 14% revenue growth to RMB 25,803,383,000 ($3,830.1 mm) from $22,572,281,000. L.L. Bean Sales Were Down Slightly in 2022
The Maine-based outdoor retailer said that revenues registered a “slight decrease” last year, reporting the same $1.8 billion top line as in 2021, following record-breaking 14% growth coming out of the pandemic. Wolverine Worldwide Shakes Up Board
WWW is elevating Tom Long, its current lead independent director, to succeed Blake Krueger as chairman effective May 4, in a planned leadership transition. Refinancing Now Complete, Hanesbrands Scores Moody’s Upgrade
The ratings agency upgraded HBI’s speculative grade liquidity rating to SGL-2 from SGL-3, after the company refinanced $1.4 billion of bonds due in 2024 with a $900 million term loan due in 2030 and $600 million in new notes due in 2031. SIG Sauer Acquires General Robotics
Newington, NH-based SIG has acquired the manufacturer of lightweight remote weapon stations and tactical robots, for undisclosed terms. Brooks Industrial Marketplace Acquires TuffStuff Fitness
CA-based Brooks Industrial Marketplace acquired the 52-year-old strength equipment manufacturer, adding a 116,000-sq.-ft. production facility, numerous patents, and retail and commercial strength products. PTR Industries Taps Jonathan Mossberg as CEO
The maker of roller-locked firearms has named “smart gun” pioneer and veteran industry executive, Jonathan Mossberg as its new CEO. Etcetera: REI, True Spec Golf, Whing Golf
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