Latest News & Analysis – Page 97
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ArticleSolo Brands lifts Ebitda margin as Q2 wholesale revenues soar
Solo Brands lifted its annual Ebitda margin target after a strong rise in second-quarter earnings and wholesale revenues. The owner of four lifestyle brands said wholesale revenues increased 57 percent to $31.3 million in the three months to June 30, compared to $19.9 million a year ago. Direct-to-consumer sales fell ...
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ArticleCoDi maintains guidance despite ongoing inventory headwinds
Net income from continuing operations in Compass Diversfied’s (CoDi) branded consumer companies related to sports, outdoor and apparel (5.11 Tactical, Boa, Marucci Sports, PrimaLoft, and Velocity Outdoor) declined by 68 percent to $6.94 million from $21.4 million for the period ended June 30. Total revenues from the five companies fell ...
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ArticleInterest income and currency gains drive net profit in Garmin's Q2
Boosted by more than $29.6 million in interest income and gains on foreign currency, Garmin posted 11.7 percent net income growth to $287.9 million from $257.9 million. Without the two gains, the group’s profit would have been essentially flat for the period ended July 1. Second quarter operating income fell ...
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ArticleEOS 2023: First speakers and program content announced
Planning for the European Outdoor Summit (EOS) on September 28-29, 2023 in Berlin is in full swing and the European Outdoor Group (EOG) has announced the first speakers and program content: Philipp Meister, Global Fashion and Sporting Goods Lead at Quantis, is confirmed for his presentation “How to square ...
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ArticleWeyco posts higher profit, margin despite lower Q2 sales
Weyco Group suffered a 9.9 percent decline in Q2 sales to $67.0 million as the group’s portfolio of footwear brands faced difficult year-over-year comparisons and a wholesale market flush with inventory. Nonetheless, the group improved several operating metrics in the period ended June 30. Operating income rose by 18 percent ...
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ArticleOutdoor Research publishes first Annual Impact Report
Seattle-based company Outdoor Research (OR) published its inaugural Annual Impact Report, highlighting its commitment to sustainability, inclusivity and responsible corporate practices. The report is a tool OR will use to annually share its progress, achievements and future targets around its efforts as a responsible global corporate citizen. “The textile ...
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ArticleUSWE defies the challenges in Q1
USWE Sports AB, the parent company of USWE, Void Cycling and Giant Loop, has published its interim report for the first quarter ended June 30, 2023, showing growth and profit despite the difficult business environment. Net sales totaled 26.5 million Swedish kronor; an increase of 40 percent compared to the ...
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ArticleVaude reduces CO2 emissions by 5% while growing revenue by 13% in 2022
Responsible business practices and successful economics can be directly linked, as Vaude shows in its latest Sustainability Report. For years, the German outdoor company has been vigorously pursuing the goal of continuously reducing its ecological footprint and significantly cutting CO2 emissions as quickly as possible. To achieve this, the company ...
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ArticleVF reports wider Q1 loss and cuts guidance, TNF only revenue gainer
VF Corp., the parent of The North Face (TNF) and Vans, welcomed its new President and CEO Bracken Darrell, 12 days on the job, to his first results call by reporting a Q1 loss of $57.4 million against a loss of $55.96 million in the year-ago period on an 8 ...
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ArticleColumbia cuts outlook as net falls 17% in Q2
Bloated inventories and challenging market conditions in the U.S. are forcing Columbia Sportswear to take a “more conservative” stance on its H2 and full-year results despite explosive year-over-year Q2 sales growth in China and in its lower-margin international distributor businesses. Saddled with a 21 percent year-over-year increase in Q2 ...
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ArticleCiclo Fapril expands cargo bike frame production
To be at the forefront of the current cargo bike trend, the traditional Portuguese bicycle component manufacturer Ciclo Fapril, Industrias Metalurgicas, S.A., is expanding its production facility. The new space is expected to be completed in April 2024 and fully operational within a year. The manufacturer will start the production ...
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ArticleMicromobility.com considers acquisition of VanMoof
New York-based Micromobility.com Inc., a pioneer in sustainable transportation and micromobility services, has made a non-binding offer to acquire Dutch e-bike company VanMoof, which was reported as insolvent two weeks ago. According to a press release, Micromobility’s initial non-binding offer was well received. The company is now preparing to submit ...
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ArticleSales in Swedish sports retail down 1.7% in Q2
According to the Sportindex, compiled by industry organization Svenskt Sportforum in collaboration with the Swedish Retail Research Institute (HUI), sales in the Swedish sports retail sector fell by 1.7 percent in Q2 2023. This was the sixth consecutive quarter of negative development. Changing behavior patterns following the end of the ...
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ArticleVista Outdoor appoints more executives for upcoming Sporting Products spinoff
Source: Business Wire Andy Keegan, Vice President and interim CFO for Vista Outdoor, has been appointed CFO for the Sporting Products Company following the spinoff. Vista Outdoor Inc, the parent company of 41 sporting goods and outdoor lifestyle brands, announced that its Board of Directors has made ...
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ArticleTrove expands brand resale operations across North America, targets Europe
Trove, a leading, U.S.-based branded resale and trade-in company for brands and retailers including Canada Goose, Lululemon, Patagonia, REI, Levi’s, Arc’teryx, Carhartt and others, announced the expansion of five Trove Recommerce Powered Partner facilities across North America, including the U.S. and Canada, with expansion into Europe already in the planning ...
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ArticleBetter Cotton’s official feedback to EU Green Claims Directive proposal
Better Cotton has submitted official feedback to the EU on its proposal for a Directive on the Substantiation and Communication of Explicit Environmental Claims (Green Claims Directive). Whilst welcoming the proposal, Better Cotton has said that some sections would benefit from additional clarifications to facilitate its implementation and maximize the ...
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ArticleCompany raises full-year guidance as Hoka leads Deckers in Q1, Teva sales down 19%
Deckers Brands, intent on growing both its direct-to-consumer and international businesses in the months ahead, generated a 42 percent increase in Q1/24 net income to $63.6 million versus 44.8 million for the three months ended June 30. Operating income was 26 percent higher year-over-year at $70.7 million. Total net sales ...
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ArticleRepreve life cycle data confirms environmental benefits of recycled polyester
Unifi, a Greensboro, North Carolina-based manufacturer of recycled and synthetic yarns, has announced the results of an independent, peer-reviewed life cycle assessment (LCA) showing that recycled polyester from its Repreve brand reduces the potential for climate change compared to virgin polyester. Repreve has so far transformed more than 35 billion ...
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ArticleVista Outdoor’s Q1 net dips by 54 percent; Outdoor Products spin-off slated for Q4
Vista Outdoor, which is proceeding with plans to spin off its Outdoor Products segment in Q4 of this calendar year, reported a 54 percent decline in Q1 net income to $58.1 million from $126.0 million for the period ended June 25. Ebit was down by 55 percent to $75.4 million ...
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ArticleRestructuring process for Swedemount Sportswear & Fashion AB approved
As the border between Norway and Sweden was closed during the pandemic and therefore, important stores along the Norwegian border were shuttered and severely affected, the Swedish company Swedemount Sportswear & Fashion AB suffered significant losses in sales. The Covid support the company received during this period exceeded the amount ...
