April 25, 2023
The Japanese bike and fishing equipment maker said that persistently high market inventories are resulting in lower orders from customers, leading it to cut full-year revenue guidance to ¥460,000 million ($3,475 mm) from its earlier expectation for ¥500,000 million in sales.
Phil and Penny Knight have announced another nine-figure donation to benefit Oregonians, this time earmarking $400 million to support education and business development in the historically Black Portland neighborhood of Albina through the newly formed 1803 Fund.
Revenue at Fenix Outdoor’s wholesale branded segment—Fjällräven, Tierra, Royal Robbins and other brands—increased 13% to €53.1 million ($57.0 mm) in the first quarter from €47.0 million, though operating profit declined 4% to €17.6 million ($18.9 mm) from €18.3 million.
Performance sneaker styles were a bright spot in the first quarter, growing 2% to $1.8 billion in sales while the overall footwear market declined 3% to $9.0 billion, according to Circana’s retail tracking research.
As part of GOOS’ five-year plan to target CAD 3 billion in revenue with a 30% EBIT margin through product line and DTC expansion, the brand made five new appointments to its executive team.
DKS said it will save about $1.9 million a year in interest expense now that its 3.25% convertible senior notes due in 2025 have all been converted or redeemed.
The parent company of Korean-based Uneekor, which makes QED golf simulators, has acquired a majority stake in Evnroll Putters, reportedly worth around 20 billion won ($15.2 million), according to Pulse.