August 17, 2023
Rebel Sports posted sales of $1,309.1 million ($875.1 mm) for the fiscal year ended July 1, up 8% over A$1,121.0 million in the 53-week FY ’22, or +10% excluding the prior year’s extra week.
Net income slipped by 8% in the first half to $55,227,000 from $60,227,000, hurt by $15 million in receivables impairment losses that more than offset substantially improved margins, as revenues fell by 13% to $716,086,000 from $827,193,000.
Net income declined by 17% in the fiscal first quarter ended June 30 to ¥266 million ($1.9 mm) from ¥322 million last year, while sales grew 7% to ¥13,052 million ($95.0 mm) from ¥12,241 million.
PTON is strengthening its existing B2B services with the launch of Peloton for Business, which will serve its commercial segments such as hospitality, corporate wellness and multi-family residential and community gyms.
The active recovery footwear brand elevated Reebok and Adidas veteran, Dave Mischler to oversee operations as COO, succeeding Steve Gallo, its president since 2018, who is leaving to pursue new opportunities.
The ACON Investments-backed cap maker recently closed a refinancing transaction, and used the proceeds to repay its outstanding senior secured first lien term loan, Moody’s said in an announcement.