April 28, 2023
NWL’s Outdoor & Recreation segment sales dropped 30% on a reported basis to $270 million in the first quarter from $388 million last year, and core sales excluding foreign exchange declined 27%.
The Indonesian retailer saw net income skyrocket 62% to IDR 276,157 million ($18.1 mm) in the first quarter from IDR 170,312 million, on a 42% increase in revenues to IDR 2,724,180 million ($178.7 mm), up from IDR 1,916,548 million.
Yue Yuen warned that its Q1 revenues would be down about 18%, and that net income would fall approximately 40-45% to around $49.0 million from $88.6 million, hit by softer global footwear demand due to higher inventory levels.
The Brazilian footwear and apparel group, which owns flip-flop sandal brand Havaianas, informed its shareholders on Apr. 27 that its CEO Roberto Funari has resigned.
The VF Corp.-owned workwear brand made three executive changes to its product teams, following Todd Dalhausser’s appointment as global brand president earlier this month.
Phoenix Suns’ forward and 13-time NBA All Star, Kevin Durant joins Michael Jordan and LeBron James as Swoosh lifers, inking a lifetime contract with the Eager Beavertons.