May 11, 2023
Net income was cut 59% to $10,564,000 in the first quarter from $25,659,000 on net sales that were up 3% to $302,796,000 from $293,628,000, despite a $16 million hit from the stop-sale on recalled soft coolers.
Speaking at The Big a’s annual general meeting earlier today, CEO Bjorn Gulden said the decision has been made to sell at least part of the remaining Yeezy inventory and donate some or all of the proceeds to charity.
Giant Bicycle parent Giant Group’s profits attributable to shareholders slipped 54% in the first quarter to TWD 835.8 million ($27.2 mm) from TWD 1,822.4 million on 10% lower revenues of TWD 20,119.3 million ($654.1 mm) down from TWD 22,260.3 million.
Revenue at Canadian Tire’s sporting goods banners—SportChek, Hockey Experts, Sports Experts and Atmosphere—grew 3% in the first quarter to C$420.8 million ($311.2 mm) from C$408.8 million, including a +3.7% comp.
Net income attributable to shareholders at the Taiwanese footwear and sporting goods manufacturer fell 44% in the final quarter of 2022 to TWD 839.1 million ($26.9 mm) from TWD 1,508.5 million, on 22% higher revenues of TWD 22,863.4 million ($732.8 mm) up from TWD 18,724.7 million.
Net income took a 76% drop at the South African protective sports equipment maker, tallying $1,023,221 compared to $4,222,755 in the prior year, while revenues were off 46% at $13,079,343 against $24,228,108.
SMSY’s technical pack brand grew sales 28% in the first quarter to $19.3 million from $15.1 million, a 35% constant currency improvement.
After cancelling apparel sponsorships with other high profile universities including Cal and UCLA, Under Dog may not renew its 10-year, $90 million sponsorship of The Irish, Sports Illustrated reported, citing an inside source.
The parent company tapped 20-year Crocs veteran, Megan Welch as CEO of the down-under retailer, taking the reigns on Aug. 7 from Michael Daly, who was serving in that role in addition to being KMD Brands group CEO and managing director.
The direct-to-consumer startup is launching a collection of tech-augmented and sustainable footwear, in collaboration with well known creator Philippe Starck.
The parent of Solo Stoves, Chubbies and other brands has acquired TerraFlame, which makes table top campfires for indoor and outdoor use, for undisclosed terms.
Renowned street artist Richard Wyrgatsch, better known as “OG Slick”, has filed suit in CA district court against Hat World (dba Lids) for infringing on his “LA Hands” artwork on their hats.
Peloton Interactive is recalling about 2.2 million original Peloton model Bikes (not Bike+) because the seat post assembly can break during use.