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August 21, 2023 Bike Maker Merida's Revenue Drops Double Digits
Merida Industry’s net income attributable to shareholders declined by 30% in the second quarter to TWD 671.8 million ($21.8 mm) from TWD 952.9 million, on 15% lower revenues of TWD 7,459.4 million ($242.2 mm) down from TWD 8,808.5 million. Hanesbrands’ Higher Leverage Leads to Credit Rating Cut
The Champion parent’s issuer credit rating was lowered to B+ from BB- by S&P Global, after its leverage increased to 6.7x as of July 1, 2023, up from 4.2x last year. Moody’s Expects Newell Headwinds to Continue into 2024
The ratings agency downgraded NWL’s corporate family rating and senior unsecured debt ratings to Ba2 from Ba1, while maintaining a negative outlook for the parent of Coleman, Contigo, Marmot and other outdoor brands. Pure Fishing Parent Buys Distressed Debt
Pure Fishing’s financial sponsor, Sycamore Partners Management L.P., has acquired its entire $255 million second-lien term loan, and is in the process of buying up the company’s first-lien term loan, S&P Global reported. National Park Visits Inch Lower in July
In a large month seasonally, National Parks declined 4% in July to 39,466,957 from 41,036,723, and are now underwater year-to-date at 181,562,186 down from 182,299,955. Skechers Sues over Slip-ins Heel Design
SKX filed suit in Cen. CA district court against Laforst Shoes, Inc., for infringing on five patents related to its new and successful Hands-Free Slip-ins franchise. Etcetera: Fanatics, Adidas, Yeti, The Athlete’s Foot
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