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Under Armour Disputes WSJ Accounting Irregularities Report

November 15, 2019 SGB Update

Under Armour Inc. issued a statement in response to a Wall Street Journal article, maintaining that its accounting practices have been “entirely appropriate.”

Gregory’s Sales Climb 21 Percent In Q3

November 15, 2019 SGB Update

Samsonite International reported currency-neutral sales grew 21.3 percent on a currency-neutral basis at Gregory and 3.3 percent.

J. C. Penney Sees Lower-Than-Expected Loss

November 15, 2019 SGB Update

J. C. Penney Company Inc. reported a loss that was lower than expected in the third quarter and raised its guidance for EBITDA for the year. Same-store sales were down 6.6 percent.

Political Climate Forces American Outdoor Brands To Split

November 14, 2019 SGB Executive

Amid a challenging political climate for the firearms industry, American Outdoor Brands Corp. (AOBC), the parent of Smith & Wesson, announced it would split into two publicly traded companies— Smith & Wesson Brands Inc. (firearms) and American Outdoor Brands Inc. (outdoor products and accessories, or OP&A). SGB digs into why the company chose the spinoff route.

Final Summer Lodging Results At Western Mountain Destinations Are Mixed; Winter Holding Steady

November 14, 2019 SGB Update

The six-month summer season that tracks from May through October for mountain destinations, finished with lackluster results and the softest aggregated summer occupancy figures in a decade. Modest gains in the Average Daily Rate (ADR) did boost overall summer revenues though, according to the DestiMetrics’ Market Briefing released by Inntopia.

REI Co-op To Open Four Stores On November 15

November 14, 2019 SGB Update

For the first time in its 81-year history, REI Co-op will open four new stores in a single day on November 15, bringing quality outdoor gear, experiences and expertise to Farmington, UT; Huntsville, AL; Oklahoma City and Williston, VT. By the end of the year, REI will have opened a total of eight new stores, relocated two existing stores to larger locations, and opened three new boathouses in 2019.

Nike Announces 11 Percent Increase In Quarterly Dividend

November 14, 2019 SGB Update

The payout will mark Nike’s 18th consecutive year of increasing dividend payouts. Said Mark Parker, Chairman, President and CEO of Nike, Inc. “This dividend increase, combined with the four-year $15 billion share repurchase program announced in 2018, reflects continued confidence in our strategies to generate long-term, profitable growth as we accelerate execution of our Consumer Direct Offense.”

Orvis.com Leaks Internal Passwords

November 14, 2019 SGB Update

Orvis, the Vermont-based retailer that specializes in high-end fly fishing equipmen, leaked hundreds of internal passwords on Pastebin.com for several weeks last month, exposing credentials the company used to manage everything from firewalls and routers to administrator accounts and database servers, according to KrebsOnSecurity.

Patagonia Opens First ‘Worn Wear’ Store

November 14, 2019 SGB Update

Patagonia opened its first dedicated Worn Wear pop-up store in Boulder, CO. Located at 1212 Pearl Street, the Worn Wear pop-up will be open through February, 2020 and will be stocked exclusively with quality Worn Wear items (used Patagonia products that have been bought back from customers) as well as Patagonia’s new ReCrafted Collection, a new line of products made from other clothes that are beyond repair.