June 22, 2023
Net income dropped 64% to $12,836,000 from $36,135,000 on shrinking margins as net sales down 20% to $144,777,000 from $181,299,000 for the fiscal fourth quarter, in line with guidance on the industry-wide rise in promotional activity and the company’s focus on dropping bloated inventories.
ASO elevated SVP and GMM of footwear, Matt McCabe to EVP and chief merchandising officer, succeeding Steve Lawrence, who took over as the retailer’s CEO on June 1.
Authentic Brands paid £68 million ($83 mm) for “Wellies” and Hunter Boot’s other intellectual property, according to a Companies House filing by AlixPartners, which is acting as the administrator winding down the 160-year-old company.
Sound Around is recalling about 1,800 Hurtle children’s multi-purpose helmets because they don’t meet the CPSC’s positional stability requirements for bicycle helmets.