August 28, 2023
While Nike continued to dominate boys and girls sneaker demand, New Balance jumped into second place on the list of most popular brands, in the latest edition of Stifel’s annual Back-to-School Athletic Footwear Survey.
The Taiwanese bike maker reported a loss of TWD 51.2 million ($1.7 mm) against a profit of TWD 124.5 million in the second quarter, as revenues tumbled 21% to TWD 1,020.5 million ($33.1 mm) from TWD 1,297.8 million, impacted by the same market effects that hit Giant and Merida.
Fresh off last weeks downgrade from S&P Global, WWW was also revised downward by Moody’s, which cut its corporate family rating to B1 from Ba3 and rating on its senior unsecured global notes rating to B3 from B1.
The diversified retailer, brand licensor and real estate owner warned that its net income attributable to shareholders will record a loss of around HK$ 95.0 million ($12.2 mm) in the first half compared to a loss of HK$ 3.0 million last year.
The L2 Brands-owned imprinted sportswear manufacturer is closing down its 114,000-sq.-ft. Englewood, CO, manufacturing facility and laying off 154 employees there, according to a state WARN filing first reported by The Denver Post.
Ten finalists have been selected from a pool of entrepreneurs from around the world, representing all segments of the sports and fitness industry, for the 2023 SFIA Start-Up Challenge, which takes place virtually on Oct. 10.