June 29, 2023
Profits declined 28% in the Eager Beavertons’ final fiscal quarter ended May 31, falling to $1,031 million from $1,439 million prior, as revenues grew 5% on a reported basis to $12,825 million from $12,234 million, and would have been up 8% constant currency.
Budgets are up but sales and price research are top of mind for Back-to-School shoppers, according to early forecasts from the National Research Federation and investment management firm JLL.
Net income at the sports apparel maker increased 7% to HK$292,639,000 ($37.3 mm) in the fiscal year ended Mar. 31 from HK$274,633,000 prior, on revenue that was up 10% to HK4,051,107,000 ($516.5 mm) from HK$3,668,371,000.
The Reebok parent’s valuation for this latest funding round was $20 billion, according to a Bloomberg source, with the entire $500 million investment coming from existing investor General Atlantic.
Backcountry’s private equity owner, TSG Consumer Partners is considering selling the outdoor retailer, Bloomberg reported, citing sources close to the matter.
Following its acquisitions of Texon and Rhenoflex last year, Coats Group has launched a footwear division that offers manufacturers more than 450 different materials and components needed to assemble footwear and accessories.
The outdoor brand filed suit in MI district court against e-tailer, MyLocker for infringing on Patagonia’s multi-colored P6 logo and word marks with its designs.