October 16, 2023
In a surprise announcement, VSTO said it will not split its sporting products and outdoor businesses into two public companies, instead selling off the ammunition segment to Czech conglomerate, Czechoslovak Group a.s. for $1.91 billion in cash.
The ratings agency cited ongoing operational headwinds and pressured margins through fiscal 2023 in downgrading its outlook for Fanatics Holding Inc.’s from stable to negative, while maintaining its BB- issuer credit rating.
The Chinese sportswear brands do not detail full financials for the odd calendar quarters, but both Xtep and 361 Degrees reported solid year-over-year gains at retail.
Certainly taking notice of Lululemon’s rapid growth in the PRC, the Chinese sportswear giant has acquired 75.13% of the equity of Mayiya Clothing (Shanghai) Co., Ltd., the owner of women’s yoga apparel and activewear brand, Maia Active.
The outdoor co-op laid off about 275 store workers as part of the its broader plan to restructure its brick-and-mortar business model, affecting 2% of the retailer’s workforce nationally.
Gallo joined the licensed headwear company as general manager for North America, reporting to co-presidents Jim Grundtisch and Jim Patterson.
The Sports & Fitness Industry Association will hold three “Super Regionals” in Boston, Seattle, and New York this November, bringing together its members, partners, and industry leaders.
The Montreal-based apparel maker will lay off 258 employees at its factory on Heilig Road in the Charlotte, NC, suburb of Salisbury, according to a WARN notice first reported by the Salisbury Post.
A Portland OR federal court ruled that Adidas met the standard to be granted a permanent injunction against O&K, Inc. (dba One Clothing), that last remaining defendant in a long-running lawsuit that originally accused Forever 21 and several other entities of infringement.