New Era Completes Acquisition of ’47 Brand
The combined company, comprising two family-founded brands, is expected to generate approximately $2 billion in annual revenue and deliver an expanded and diversified product portfolio of apparel and accessories globally.
Elevate Textiles Names Head of Corporate Development and Strategy
Elizabeth K. Ren joins Elevate Textiles with over 20 years of experience in strategic planning, corporate development, investment banking, corporate finance, operations, and treasury. Her career has included key financial and executive positions across private and Fortune 100 companies, including Under Armour.
FCS Parent Acquires MFC Hawaii
The combined companies, MFC Hawaii and Australia-based FCS, will strive to drive advancements in fin technology. The acquisition will also allow FCS to expand into various watersports and utilize MFC’s manufacturing capabilities and distribution network.
Life Time Expands Texas Footprint with New Westlake Club
The opening of the 112,000-square-foot, two-story Life Time Westlake club extends Life Time’s footprint to 33 locations across Texas.
Under Armour Lifts FY Guidance On Surprise Q2 Profit
Under Armour, Inc. reported a loss of $305 million in the second quarter after absorbing charges related to the settlement of a shareholder lawsuit, but posted a surprise profit excluding the charges and slightly raised its adjusted earnings guidance for the year. Sales declined 10 percent, dragged down by a 14 percent slide in North America.
The Buckle’s July Same-Store Sales Decline 7 Percent
The Buckle, Inc. announced that comparable store sales decreased 6.8 percent in July year-over-year.
Yeti Raises FY Outlook on Strong Q2 Results
Yeti Holdings ,Inc. raised its guidance for earnings and sales for the year as second-quarter results topped analyst targets. Adjusted earnings in the quarter rose 36 percent on a 15 percent revenue gain.
Revolve Returns to Growth in Q2
Online fashion retailer Revolve Group reported sales grew 3 percent in the second quarter, its first positive quarter since the fourth quarter of 2022. Earnings more than doubled.
DSW Parent Designer Brands, Inc. Appoints New Board Member
DSW-parent Designer Brands Inc. appointed John Atkinson to its Board of Directors. Atkinson is a retired audit partner from KPMG’s Cincinnati office.
TSG Consumer Partners Appoint Head of Strategic and Operational Services Group
Dori Konig brings over 20 years of finance, strategy, and operating experience to the role. Most recently, he was the managing director at global investment firm Platinum Equity, where he led the company’s East Coast Operations.
Boot Barn Fiscal Q1 Earnings Easily Top Expectations
Profits at Boot Barn, Inc. advanced 13.4 percent in the fiscal first quarter. Sales grew 10 percent from new stores, 1.4 percent same-store growth and 6.7 percent e-commerce growth.
Allbirds Sees Q2 Sales Drop 27 Percent
Allbirds, Inc. reported a net loss in the second quarter ended June 30 as sales shrunk 26.8 percent. The eco-friendly footwear brand said it is prioritizing three main focus areas designed to return to top line growth in 2025,
OR and Surf Expo Parent Narrows Q2 Loss on Flattish Revenue Decline
The Emerald Holding revenue decrease was attributed to prior-year discontinued event revenue of $3.7 million and scheduling adjustments of $1.1 million, partially offset by organic growth of $2.6 million as well as $1.7 million in revenue from acquisitions.
Ōura Appoints Apple Design Veteran as Chief Design Officer
Miklu Silvanto will be leading the company’s software and industrial design teams and owns the end-to-end member experience and visual design of Oura’s hardware and software products. He will report to Chief Operating Officer Michael Chapp.
Wolverine Worldwide Raises FY Outlook on Early Payback from Turnaround Efforts
Wolverine Worldwide reported earnings fell 21 percent in the second quarter as sales on an ongoing basis sunk 18 percent due to steep declines at Merrell and Saucony, but the company still raised its sales and earnings guidance for the year as its turnaround program is driving better-than-expected results.
