The rapidly strengthening yen against the dollar torpedoed Shimano’s bottom line in the second quarter, with a big swing in foreign exchange resulting in a loss of ¥5,825 million ($40.3 mm) against a ¥20,017 million profit despite 6% higher revenues of ¥123,870 million ($857.3 mm) up from ¥116,330 million.

Net income was $3,608,000 in the second quarter against a loss of $1,243,000 last year, as revenues increased by 8% to $105,647,000 from $98,258,000, powered by XTRATUF and Muck, leading an outdoor segment rebound.

The red ink totaled $24,540,000 against a loss of $10,004,000 in Q2 on 7% lower sales of $184,894,000, down from $199,824,000, in a period where BGFV reached a deal to be acquired by Worldwide Golf and Capitol Hill Group for $1.45 per share.

Leverage and FCF improvements backed by strong consumer demand led Moody’s to retain a stable outlook for the company and upgrade its corporate family rating to Ba1 from Ba3, with similar upgrades to its debt ratings.

L.A.B. Golf sees PE firm L Catterton acquire a majority stake in the fast-growing golf putter maker for $200 million.

The Chinese retail subsidiary of Yue Yuen is forecasting that profit attributable to shareholders will be down 44% in the first half to around RMB 187.6 million ($25.9 mm), while revenue will slip 8% to approximately RMB 9,159.4 million ($1,266.9 mm).

Former Total Wine & More chief Rice joins the national golf retail chain effective Sep. 2, succeeding the retiring Dick Sullivan, who is stepping back after 15 years in the top job.

Gap Inc. appointed Maggie Gauger as president and CEO of its Athleta banner, succeeding Chris Blakeslee, who has been overseeing its turnaround for the past two years.

The Cox Enterprises-owned fly-fishing gear maker promoted Jim Coates as its new CEO, succeeding Gordon Sim in the role.

The parent of O’Neill, Mountain Khakis, Hang Ten, and other active brands hired Nathan Boroff as CFO, reporting to CEO Daniel Neukomm.

Los Angeles-based Ambercycle is bringing its Cycora regenerated polyester fiber made from textile waste to the Japanese market in partnership with apparel giant Goldwin.

Fishing participation inched up slightly among Americans ages 6-plus to 57.9 million in 2024, compared to 57.7 million, according to the Special Report on Fishing from the Outdoor Foundation and Recreational Boating & Fishing Foundation.

PTON sees the U.S. Court of Appeals for the Ninth Circuit confirm an earlier Feb. 2024 ruling, which dismissed World Champ Tech’s suit that claimed Peloton was infringing on its Bike+ mark with Peloton Bike+.