Vista Outdoor Inc., parent company of Camelbak, Bushnell, Bell, Giro, Federal and many more outdoor-oriented brands, said that outdoor recreation quickly became the go-to form of exercise and entertainment during the COVID-19 shutdown, which drove stronger-than-expected sales in most categories in the fiscal first quarter ended June 28.
Author: SGB Media
Inside The Report: Sporting Goods Retail Sector Employment Up 4.4 Percent In July
The overall positive jobs report trend for July got a boost from the sector that includes the sporting goods retail business. The U.S. Bureau of Labor Statistics reported that total nonfarm payroll employment rose by 1.8 million in July and the Establishment Survey Data that includes breakdowns for specific sectors of the market saw the Sporting Goods, Hobby, Book, and Music Stores segment add 18,700 jobs in July, or a 4.4 percent increase, lagging the overall retail sector.
Inside The Call: Lower Winchester Ammo Inventory Will Limit Q3 Sales Gains
Winchester’s sales increased 16.8 percent to $192.6 million for the second quarter, compared to $164.9 million in the second quarter 2019.
July Jobs Report Sees 1.8 Million Jobs Added, 10.2 Percent Unemployment Rate
The U.S. Bureau of Labor Statistics (BLS) has reported that total nonfarm payroll employment rose by 1.8 million in July, and the unemployment rate fell to 10.2 percent.
Ski Industry Urges Support Of Restart Act
A letter signed by over 100 winter outdoor industry companies, including REI, Burton, Spyder, Aspen Skiing Co. and K2, sent to the leaders of U.S. Congress urges the federal government step in and provide additional long-term support for the ski industry’s small and medium-sized businesses in the next round of stimulus funding.
WFSGI July Survey Finds Some Optimism Amid Pandemic
The July Edition of the COVID-19 Impact Survey from the World Federation of the Sporting Goods Industry (WFSGI) finds that COVID-19 is forecast to impact 86 percent of survey respondent’s business, slightly more compared to last month. But the survey indicated some optimism going forward.
North Point Brands Appoints Chief Marketing Officer
North Point Brands, parent company of Cheeky Fishing and Wingo Outdoors, appointed fishing veteran Peter Vandergrift as Chief Marketing Officer for both brands.
Hyperice Files Patent Infringement Lawsuit Against Theragun
Hyperice filed a lawsuit in federal court against Theragun, Inc., dba Therabody, alleging infringement of Hyperice’s patented vibrating roller technology.
Adidas Obtains Investment-Grade Rating By S&P And Moody’s
Following a thorough assessment by rating agencies S&P and Moody’s over the past months, Adidas has received strong first-time investment-grade ratings by both rating agencies. The ratings make Adidas one of the highest-rated companies both in Germany and in the global sporting goods industry.
Designer Brands Bolsters Financial Flexibility
Designer Brands Inc., the parent of DSW and Camuto Group, announced steps taken to enhance the company’s financial flexibility, including replacing its $400 million revolving credit facility with an equally-sized, asset-based revolving credit facility and completing a $250 million privately placed senior secured term loan. The company also provided further details on recent employee base restructuring actions and an update on store operations.
Callaway Hit By Q2 COVID-19 Restrictions; Takes Wolfskin Charge, Cancels Dividend
Callaway Golf company’s net sales decreased 34 percent to $297 million in the second quarter ended June 30, compared to $447 million for the comparable period in 2019.
Christy Sports Hires VP Of Digital
Christy Sports LLC has hired Harvey Bierman as their new VP of digital. In this newly created role, Bierman will lead the development and acceleration of e-commerce and digital marketing to enable the company’s growth strategy.
Logo Brands Acquires Boelter Brands Drinkware
Logo Brands, a supplier of chairs, canopies and tents in the sports licensing space, has struck a deal to acquire the Boelter Brands drinkware and Topperscot lines.
GoPro’s Q2 Revenues Drop 54 Percent
GoPro reported sales fell 54.1 percent in the second quarter ended June 30 to $134.2 million from $292.4 million a year ago. However, the camera maker said revenues improved on a sequential basis and its shift to a more direct-to-consumer business is starting to pay off.
Dick’s SG Announces Grand Opening Of 11 Stores In Nine States
Dick’s Sporting Goods will expand its national footprint with the opening of four Dick’s Sporting Goods stores, one combination Dick’s and Golf Galaxy location, five Dick’s Sporting Goods Warehouse sale stores and one Overtime by Dick’s Sporting Goods location in August.
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