EXEC: Target Corporation Shares Hit New Low After Q3 Miss, Disappointing Guidance
EXEC: Wilson Sports Business Returns to Double-Digit Growth in Q3; Bolsters Owned Retail
EXEC: Salomon Gets New CEO as Growth Moderates in Q3 on Weaker Equipment Business
EXEC: Arc’teryx Outperforms Once Again in Q3 Despite Tough 2023 Comps
Hartford Sales Group Celebrates 40 Years as Indie Sales Agency
SGB Update
Modern America Campgrounds Acquires NH Campground with Four More in Pipeline
The largest RV park owner in the Northeast has acquired Winding River Campground in Exeter, NH. The company said the deal marks its 29th park acquisition in the last 24 months, with plans for 33 locations by the beginning of the 2025 season.
Report: Outdoor Recreation Contributes $1.2 Trillion to the U.S. Economy, Supports 5 Million U.S. Jobs
The newly revised data in this year’s BEA report, outlines that the outdoor recreation economy has grown 36 percent in real terms since 2012 and that outdoor recreation contributes more to the U.S. economy than farming, mining and utilities.
TJX Adds Eight Sierra Locations in Q3; Has Big Merchandise Plans for Sierra E-Commerce
The company said it is well-positioned to take advantage of the outstanding availability in the marketplace and deliver an eclectic mix of exciting gifts to its stores and online throughout this holiday season. The CFO said they have some great merchandise plans for the U.S. e-commerce sites in the Sierra business.
Ladder Secures Over $100M in New Funding to Scale Top Strength Training App
The company raised $15M in Series B funding led by Point72 Ventures and ADvantage VC, with participation from Steve Pagliuca’s PagsGroup and Series A lead investors Tapestry VC and LivWell Ventures. It also secured a $90M growth investment from General Catalyst’s Customer Value strategy.
Alterra Mountain Company Closes on A-Basin Acquisition
Alan Henceroth, A-Basin’s chief operating officer who has been with A-Basin for 36 years and has driven the mountain’s unique culture, will continue on to lead the resort and oversee daily operations with his longtime team.
SGB Executive
EXEC: Target Corporation Shares Hit New Low After Q3 Miss, Disappointing Guidance
For the fourth quarter, the company now expects approximately flat comparable sales and GAAP and Adjusted EPS of $1.85 to $2.45, translating to a full year expected GAAP and Adjusted EPS range of $8.30 to $8.90 per share.
EXEC: Wilson Sports Business Returns to Double-Digit Growth in Q3; Bolsters Owned Retail
Wilson’s marquee racquet sports franchise and the small but fast-growing softgoods segment were reported to lead the return to double-digit growth. Inflatable balls and golf also reportedly returned to growth in the third quarter.
EXEC: Salomon Gets New CEO as Growth Moderates in Q3 on Weaker Equipment Business
By region, strong growth in Greater China and APAC was said to be partially offset by slower sales in EMEA and North America. The company expects to end 2024 with approximately 200 Salomon stores in China, with the opportunity to grow to several hundred locations over time in just Tier 1 and 2 cities.
EXEC: Arc’teryx Outperforms Once Again in Q3 Despite Tough 2023 Comps
Direct-to-consumer remains the brand’s core growth engine, but Arc’teryx also reported strength in the Wholesale channel, which grew 26 percent. U.S. Wholesale was reportedly a standout for the quarter, especially for Arc’teryx.
EXEC: Amer Sports Sees Sharp Contrast Between West and East in Q3; Provides China Update
Amer Sports, which is majority owned by its China retail partner, highlighted on its conference call with analysts that while other consumer companies faced challenges in Greater China in Q3, Amer generated 56 percent growth in the region, continuing to “well outperform the market.”
