In his opening remarks on this week’s earnings call with analysts, Sturm, Ruger & Co. President and CEO Chris Killoy called 2019 a “challenging” year for Ruger and the entire firearms industry, both of which were rankled by a host of headwinds. But could those winds be shifting as the 2020 presidential campaign heats up?
Author: SGB Media
Aisle Talk Week Of February 17
Top headlines from across the active lifestyle industry featured in SGB during the week of February 17, 2020.
KORR Acquisitions Group Urges GoPro To Explore Sale
Korr Acquisitions sent a letter to GoPro’s Board of Directors, saying the stock could be worth $9.49-$14.97 per share to a buyer. The firm urged the company to explore strategic alternatives.
Wolverine Worldwide’s Expanded Efforts To Address PFAS Approved By Federal Judge
Wolverine World Wide Inc. announced that U.S. District Judge Janet T. Neff has approved a Consent Decree reached earlier this month among the company, the State of Michigan, Plainfield Charter Township, and Algoma Township. This Consent Decree resolves the litigation between the parties and includes significant next steps in Wolverine’s already extensive efforts to ensure long-term water quality and continued environmental remediation in and around its hometown.
Lululemon Provides Update On China Operations
Lululemon Athletica Inc. said that following guidance from local authorities, the majority of Lululemon’s 38 stores in China have been closed for a period of time since February 3, 2020, with some now operating on a reduced schedule. The company’s online business has continued to operate.
Escalade Q4 Revenues Decline
Escalade Inc., a maker of a wide range of sporting goods, reported sales for the fourth quarter of 2019 were $47.0 million compared to net sales of $51.0 million for the same quarter in 2018, a decrease of $4.0 million or 7.7 percent. The decline reflected softness in archery and fitness categories.
BSN Sports Acquires Longstreth’s Team Apparel, Lacrosse And Softball Businesses
BSN Sports, a division of Varsity Brands, announced the acquisition of certain team sports businesses from Longstreth Sporting Goods, based in Spring City, PA. Specifically, BSN Sports has acquired Longstreth’s lacrosse and softball team sports businesses, as well as exclusive rights to supply uniform or team apparel and footwear to Longstreth’s field hockey team customers.
Arctaris Impact Fund To Revitalize Maine’s Saddleback Mountain Ski Resort
Boston-based Arctaris Impact Fund, LP, announced Friday, January 31, the official purchase of Saddleback Mountain Ski Resort for $6.5 million. The firm plans to invest $38 million into Maine’s third-largest ski area and has tapped outdoor marketing agency Origin to lead a rebranding.
Flywheel To End Online Classes
Flywheel Sports, the fitness boutique startup, will shut down the virtual classes that are connected to its in-home bikes in March. Current Flywheel At Home customers were e-mailed a trade-in offer to swap out their $1,500 virtual Flywheel bikes for used Peloton bikes.
Snapchat’s Talent Partnership Head Rejoins Nike
Lauren Gallo, formerly global head of content marketing at Snap Inc., the parent of the Snapchat messaging app, has rejoined Nike as senior director, brand creative.
EcoVessel Expands Global Presence With Distribution Into New Markets
EcoVessel, maker of insulated stainless steel drinkware, has expanded its global presence in 2020 with the addition of Goris Group as a master distributor for Latin American markets.
Fitbit Misses Q4 Targets As Google Acquisition Looms
With its acquisition by Google looming, Fitbit Inc. on Thursday reported revenue for the fourth quarter of $502 million, which missed Wall Street’s estimates by $29.5 million. The company reported a non-GAAP earnings per share net loss of (12) cents, which missed targets by 15 cents.
Adams Arms Names New VP, Sales And Marketing
Adams Arms Holdings LLC on Thursday announced that Michael Halleron has joined the company as vice president of sales and marketing.
Burton Names Lacy CEO As Carpenter Assumes Board Chair
Burton on Thursday officially announced that John Lacy will become the company’s CEO, a role he has shared for the past 18 months with Burton owner Donna Carpenter, who now becomes chair of the Burton board of directors, a position formerly held by her late husband and Burton founder, Jake Burton Carpenter.
Blue-Emu Forms New MLB Partnership
Major League Baseball and NFI Consumer Products announced a new multi-year sponsorship agreement between MLB and NFI’s Blue-Emu line of pain-relieving creams, sprays and patches.
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