The sales decline reflects a 15.7 drop in wholesale revenues due to softness in work, outdoor and commercial military categories. Jason Brooks, CEO, said, “While cautious consumer spending outside of peak shopping periods and warm, dry weather acted as headwinds this quarter, the underlying strength of our business remains intact.”
Author: SGB Media
Consumer Confidence Bounces Back In October
The Conference Board reported that its Consumer Confidence Index jumped to 108.7 in October from 99.2 in September—the biggest monthly gain since March 2021. Analysts had forecast a more modest reading of 99.3.
Chipply Names New Marketing Manager
With seven years of experience in the promotional products industry, Ryen McFarland brings a strong background in marketing, sales and customer service to the e-commerce platform for team stores.
World Gym International Acquired by World Gym Taiwan
John Caraccio, chairman of WFS, will serve as interim CEO of World Gym International, while Michael Sanciprian, former CEO of WFS, will be the company’s executive director.
Planet Fitness Appoints CFO
Jay Stasz will join the company on November 4 and work alongside current CFO Tom Fitzgerald until assuming the role full-time on November 15.
Newell Brands Announces Upsized Debt Offering
Newell Brands announced the launch and pricing of an upsized public offering of $750 million aggregate principal amount of 6.375 percent notes due 2030 and $500 million aggregate principal amount of 6.625 percent notes due 2032.
Enduro Bearings Hires Sales & Marketing Director for the Americas
Alex Wassmann is an industry veteran in the cycling space, having held key roles in product development, technical support, marketing, and strategic global partnership development at Giant Group and Sram.
Luth-AR Acquires Acro Machine
Luth-AR, a manufacturer of AR-15 firearms and firearm components based in Buffalo, MN, has purchased all the assets of Acro Machine Inc., including several CNC turning and milling machines and all fixtures, programs, designs and knowledge.
OnCore Innovations Adds Investor and Shareholder
Thomas Pieters joins NFL quarterback for the Buffalo Bills, Josh Allen, professional golfers Taylor Gooch and Harold Varner III, investors Chuck Schwab, and LAB Golf, who, with a combination of athletic and business acumen, will drive OnCore Innovations’ mission to elevate the game for professionals and amateurs.
Hilco Global and TPG Angelo Gordon Partner with Bluestar Alliance on JV
Hilco Global and TPG Angelo Gordon announced the formation of a new joint venture that will identify, acquire and finance consumer brands and IPs in partnership with Bluestar Alliance, LLC, the parent of Hurley, Justice, Scotch & Soda, and other consumer brands.
Garmin Ltd. Ups Guidance on Strong Double-Digit Q3 Growth in Fitness, Outdoor and Marine
Garmin adjusted its full year guidance and now anticipates revenue of approximately $6.12 billion and pro forma EPS of $6.85 based on gross margin of 58.5 percent, operating margin of 24.0 percent and a full year effective tax rate of 16.5 percent.
Outdoor Retailer Parent Trims Full-Year Guidance
Emerald Holding, Inc. slightly reduced its outlook from steps taken to discontinue some of its smaller events. The operator of Outdoor Retailer, Surf Expo, Sports Licensing & Tailgate Show, and other venues also reported improved underlying earnings in the third quarter on flat sales.
Pyrenex Appoints Alan Daniel as Commercial Director
Daniel comes to the luxury outerwear manufacturer with over 20 years of outdoor industry experience having worked for Rossignol, Rip Curl and Salomon.
GoPro to Cut 26 Percent of Workforce in Revised Restructuring Plan
The action camera maker now plans to layoff about 26 percent of its workforce (240 employees), up from a plan announced in August that called for the reduction of 15 percent (140 employees).
Modern America Campgrounds Acquires Thomas Point Beach & Campground
Thomas Point Beach was started in 1956 by Harry and Marion Crooker. The 80-acre Oceanside Park was owned and operated by the family until it was sold. Modern America was selected to purchase the property because it intends to carry on its legacy.
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