August 14, 2023
Fila Holdings net income fell 68% to KRW 37,197 million ($28.3 mm) in the second quarter from KRW 114,442 million last year, on aggregate revenues that inched down 2% to KRW 1,147,006 million ($871.8 mm) from KRW 1,171,903 million, but would have been down 6% constant currency.
Pressured margins and rising costs resulted in a 3% decline in net income attributable to shareholders to RMB 2,121,231,000 ($302.4 mm) from RMB 2,189,308,000 despite 13% growth in revenues to RMB 14,018,947,000 ($1,998.4 mm) up from RMB 12,408,665,000.
Pickleball is here to stay, the SFIA predicted in its inaugural State of Pickleball: State of Participation and Infrastructure Report, with participation rates continuing to increase in 2022 after accelerating during the pandemic.
The white label re-commerce company, which counts Canada Goose, Patagonia, Lululemon, REI, Arc’teryx, and Allbirds among its customers, raised another $30 million in a funding round, co-led by Wellington Management and ArcTern Ventures.
Foundation Outdoor adds Mud Hole Custom Tackle and American Tackle Company International to its portfolio of brands which includes MHX, CRB, and Pro Products, among others.
The mountaineering, climbing and skiing footwear brand is taking a majority stake in its long time partner, Meet Italia, bolstering its domestic production capabilities.