April 03, 2023
Looking to lower its operating overhead by more than $50 million, VSTO will close offices, lay off staff and cut spending, in response to elevated inventory, rising interest rates and inflation that have impacted its top and bottom lines.
The bottom line swung to a HK$88,961,000 ($11.3 mm) loss compared to HK$35,722,000 profit for the 2022 fiscal year ended Dec. 31 on revenue that was down 14% to HK$279,153,000 ($35.6 mm) from HK$323,498,000.
RCKY has divested the PVC and neoprene safety work boot brand to a subsidiary of PetroQuim, SA, a Dominican Republic-based manufacturer that supplies Rocky as well as Timberland, Ugg and other industry brands.
The bike training equipment company has entered into a forbearance agreement with term loan and revolving credit facility lenders, S&P Global reported, on the eve of principal and interest payments that were due Mar. 31.
Johnson joins the Noblesville, IN-based sports equipment manufacturer from Greenville Technology, where he was VP of operations.
The bike component maker has petitioned a So. FL district court judge to set aside the verdict that Princeton Carbon Works did not infringe on two of its patents for an undulating bicycle wheels rim design and grant a new trial.
The Manchester City striker has inked a new Nike sponsorship after a layover since Jan. 2022 when his previous Swoosh deal expired, setting him for a reported $24 million per year deep into his playing career.
Brooks Running is launching the Future Run initiative with a $10 million investment over the next five years with aims to reach 1 million young runners in the U.S. through running programs, school grants, community sponsorships, and investments in coaches and mentors.
Firearms imports were sluggish throughout 2022 and finished the year on a down note to boot, with handguns contracting 33% in Dec. to 286,043 units, as most categories declined from 2021’s elevated levels, according to ITC data compiled by the NSSF.