October 18, 2024 Sales at Largest Global Retailers Inched up 2% in 2023
Aggregate revenue from the world’s largest sporting goods retailers increased by just 2% in weighted local currencies last year, and grew in dollars to $148,088 million from $145,599 million. Nike’s Outlook Turns Negative, S&P Global Says
The ratings agency affirmed the Eager Beavertons’ excellent AA- issuer credit rating and unsecured debt ratings and A-1+ short-term and commercial paper ratings, but revised its outlook to negative due to recent revenue and profit declines. Fanatics Commerce Downgraded by Moody’s
Moody’s downgraded the licensed apparel giant’s corporate family rating to B1 from Ba3, and reduced its rating on Fanatics Commerce’s senior secured term loan to B2 from B1, while maintaining a negative outlook. REI Plans Six New Stores for 2025
While still on pace to open ten stores this year, the outdoor co-op confirmed a somewhat smaller slate for the coming year, and is working on firming up two additional leases for 2026. Adidas Names New Executive Board Member for Global Sales
The Big a appointed Mathieu Sidokpohou as the board member responsible for global sales, effective Nov. 1, succeeding Arthur Hoeld, who will step down by mutual agreement. Carbitex Closes New Funding Round
The fast-growing Kennewick, WA-based carbon fiber composite company has secured an undisclosed amount in a new funding round from longtime investors, including Michael Marks, Carbitex’s executive chairman. Cox Enterprises Buys Loop Tackle
The $23 billion Atlanta, GA-based conglomerate inked an agreement to acquire conservation-focused fly fishing equipment maker Loop Tackle for undisclosed terms. SFIA Taps Rawlings CEO as Board Chairman
Mike Zlaket succeeds former Clarks chief, Jon Ram, who was serving his third one-year term and will step down to become immediate past chairman.
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