More corporate news – Page 23
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News briefsSnowsports year-round in the heart of Stockholm
SkiStar, a company that runs Scandinavia’s biggest resorts, has worked with dry slop surface manufacturer Neveplast to create SkiStar SummerSki, a new 470-meter long dry ski slope in the heart of Stockholm. With an overall skiable surface of 9,000 square meters, the slope is one of Europe’s longest and largest ...
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News briefsCallaway completes name change
Source: Topgolf Callaway Brands Corp. New name and logo On Sep. 6, 2022, Callaway Golf Company changed its corporate name to Topgolf Callaway Brands Corp., as previously announced, pursuant to a certificate of amendment to the company’s second restated certificate of incorporation filed with the Delaware Secretary ...
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ArticleSport 2000 Austria well positioned for upcoming challenges
Source: SPORT 2000 Holger Schwarting, CEO Sport 2000 Austria, which is celebrating its 50th anniversary this year, is expecting slight sales growth in its anniversary year. ”The times are very eventful at the moment. On the one hand, sports retailers are benefiting from the megatrends of sports ...
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News briefsCastore secures £50 million debt facility
Sportspromedia reports that Castore has secured a new £50 million (€58.2 million) revolving credit facility (RCF). This would increase the value of the British sportswear brand to £750 million (€872 million). The RCF has an initial term of three years and includes banks HSBC, BNP Paribas and Silicon Valley Bank. ...
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News briefsPeloton with delayed annual report
Peloton Interactive will need up to 15 additional days to file its 10-K report for the fiscal year ended June 30, which was due Aug. 29, according to a filing with the U.S. Securities and Exchange Commission (SEC). The reason given is that the company is still calculating the impairment ...
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News briefsiFit Health & Fitness reportedly loses key executives as CEO search continues
IFit Health & Fitness, the U.S. connected fitness company that formally withdrew its registration statement for an initial public offering in early April, is losing two top senior executives, according to a report by the NY Post yesterday. CFO Steve Barr, named co-president in February, and Tony Smith, a 28-year ...
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ArticleCallaway Golf to change company name
Callaway Golf Company announced plans to change its corporate name to Topgolf Callaway Brands Corp. Following the company’s merger with Topgolf in 2021, “the name change reflects Callaway’s dynamic brand portfolio that has unmatched scale and reach across the full modern golf and active lifestyle ecosystem, including on- and off-course ...
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News briefsMycel Project closes $10m financing round for new production facility
The South Korean biomaterials start-up company Mycel Project, a spin-off of the Hyundai Motor Group, has just closed a new pre-Series A funding round, raising a total of $10 million. Six main investors (a Hyundai Motor fund among them) are now involved in the company funding, most of them based ...
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News briefsGoPro's subscription service surpasses two million subscribers
GoPro, which celebrates its 20th anniversary in 2022, announced that its highly profitable GoPro subscription service has surpassed the two million subscriber mark. The GoPro subscription offers customers unlimited cloud storage, the ability to automatically upload footage directly from GoPro cameras to the cloud, premium editing tools in the Quik ...
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Article“This is bullshit”: Burton objects to article hinting at sale of company
Bloomberg News published an article speculating about a possible sale of Burton, without disclosing any details on the source or the potential buyer’s identities. According to Bloomberg, “the Burlington, Vermont-based company is working with an adviser on the potential sale, the people said, asking not to be identified discussing confidential ...
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ArticleWomen’s football in Europe to grow sixfold in commercial value by 2033
UEFA has launched a new report highlighting the potential for growth in the European women’s club and league game over the next decade. According to the report titled The Business Case for Women’s Football, women’s football could see a six-fold increase in its commercial value over the next decade, reaching ...
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News briefsHanesbrands’ ransomware attack cost $100 million in sales
Hanesbrands’ ability to order materials, make and ship orders, and process payments was negatively impacted during its second quarter due to a ransomware attack on the company’s information technology systems that was identified on May 24. The company was unable to fill customer orders for about three weeks. The Champion ...
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News briefsMore job cuts coming to Peloton Interactive
Peloton Interactive, slated to report fourth-quarter results on Aug. 25, will reportedly slash its customer support team based in Plano, Texas and Tempe, Arizona in half, eliminating nearly 800 positions, and outsource its “final-mile delivery” to third-party providers. The action, as first reported late last week by Bloomberg and the ...
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News briefsFrasers Group sells ‘some’ retail parks for £205m
Frasers Group said it has completed the sale of some retail parks for £205 million (€242m). The company, which owns the Sports Direct and House of Fraser chains, said the disposal included a number of freehold and long leasehold retail parks held by its wholly-owned subsidiaries to RI UK 1 ...
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News briefsJD Sports’ new chairman buys £400,000 in shares
Andrew Higginson, JD Sports’ new chairman, has reportedly purchased nearly £400,000 (€471,700) worth of shares in the retailer. Higginson joined JD Sports in late July following the departure of Peter Cowgill, who had served as the retailer’s CEO and executive chair since 2004.
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ArticleArchroma takes over Textile Effects business from Huntsman
The Swiss chemical solutions company Archroma (part of the U.S.-based investment firm SK Capital Partners) has entered into a definitive agreement to acquire the Textile Effects business from Huntsman Corporation. Huntsman Textile Effects was in the OIC news lately for its new PFC-free water repellent. The total enterprise value of ...
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News briefs
Correction
In our article “Japanese e-commerce company to acquire majority stake in Phenix owner” (July 27), we incorrectly stated that Shiffon Co., Ltd. is the “owner of Phenix” while Shiffon Co., Ltd. is merely the Phenix licensee for its worldwide sales territories except for China. We apologize for this mistake and ...
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News briefsBen Hogan Golf Equipment Company closes down
Ben Hogan Golf Equipment Company ceased trading on July 22, citing supply and financial constraints caused by the Covid-19 pandemic as reasons for the decision. ExWorksCapital had been the majority shareholder for the Texas-based company since its relaunch in 2017 after it originally ceased trading in 2015. ExWorks Financial filed ...
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News briefsAcon Investments Fund invests another $700 million in New Era Cap
Acon Investments, a Washington, D.C.-based private equity firm, today announced the closing of Acon Strategic Partners II, a new single-asset continuation fund of approximately $700 million in connection with the partial sale of the Acon Equity Partners IV portfolio investment to and the increase of the existing investment in New ...
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ArticleZalando publishes Q2 figures and reveals adjustment plans to improve order economics
With the release of its second quarter 2022 figures, Zalando has expressed confidence in returning to profitability in the second half of 2022 with a set of measures to address the volatile market environment. In the second quarter of 2022, the number of active Zalando customers grew to over 49 ...
