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August 14, 2024 Fila Results Stabilize, but U.S. Struggles Continue
Sales and profit gains from Acushnet and a reduced loss from Fila resulted in net income growing 170% in the second quarter to KRW 100,434 million ($73.2 mm) from KRW 37,197 million, as consolidated revenue increased 3% to KRW 1,175,289 million ($856.9 mm) from KRW 1,147,006 million. Xebio Profits Improve in June Quarter
Net income was up 40% to ¥2,785 million ($17.9 mm) from ¥1,987 million on a 5% increase in sales to ¥65,142 million ($417.8 mm) over ¥62,266 million for the fiscal first quarter ended June 30. Globeride Net Income Halved in Q1
The Japanese parent of Daiwa fishing and golf saw profit attributable to shareholders drop to ¥1,650 million ($10.6 mm) from ¥3,514 million in the fiscal first quarter ended June 30, as revenues slipped 8% to ¥31,481 million ($201.9 mm) from ¥34,116 million. Zett Grows 4% to Start Fiscal Year
Net income improved 34% in the fiscal first quarter ended June 30 to ¥356 million ($2.3 mm) from ¥266 million last year, as sales inched up 4% to ¥13,539 million ($86.8 mm) from ¥13,052 million. Escalade’s Walter Glazer is Retiring
ESCA CEO Walt Glazer will step down from the top job at the end of 2024, but will continue to serve on the company’s board. Puma Shakes Up Middle-East Leadership
The Big Cat appointed its head of EEMEA distribution, Johan Kuhlo as the managing director of the Gulf Cooperation Council region, overseeing UAE, Saudi Arabia, Qatar, Kuwait and Oman. New De Minimis Bill Targets China
The fight against de minimis finished goods shipments continues in Congress as Senate Finance Committee Chairman Ron Wyden (D-Or.) and bipartisan co-sponsors introduced the FIGHTING For America Act to curb DTC goods from China, which have driven a 4X spike in low-value shipments from 299 million in 2017 to 1 billion in ’23 after the ceiling was raised to $800.
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