Sunglasses retailer Solstice Marketing Concepts LLC filed for bankruptcy with a plan to restructure and seek new financing.
Category: Outdoor
Wolverine World Wide Scores S&P Upgrade
S&P Global Ratings revised the debt ratings outlook on Wolverine World Wide Inc. to stable from negative as the company has outperformed S&P’s expectations during the ongoing pandemic and paid off its $171 million 364-day term loan.
Camping World’s Q4 Sales Climb 17.5 Percent
Camping World Holdings Inc. reported sales grew 17.5 percent in the fourth quarter and 11.3 percent in the year ended December 31.
Big 5 Sporting Goods Enters Into New Five-Year Credit Facility
Big 5 Sporting Goods Corporation announced that it has entered into a new loan agreement with Bank of America. The loan agreement replaces the company’s prior financing arrangement.
Foot Locker’s Q4 Comps Dip 2.7 Percent
Foot Locker Inc. reported earnings in the fourth quarter topped Wall Street’s consensus estimate but sales came in short. Same-store sales in the period fell 2.7 percent.
Fox Factory Sees Q4 Sales Climb 41 Percent
Fox Factory Holding Corp. reported sales grew 41.2 percent in the fourth quarter. This increase reflects a 44.6 percent increase in Specialty Sports Group sales, and a 38.7 percent increase in Powered Vehicles Group sales.
REI Plans Special Member Reward Despite Annual Loss
REI reported that it didn’t make a profit in 2020 and consequently won’t be able to pay out its usual annual dividend to members. However, the Co-op said that because the year ended better than expected, a special reward would be paid to members.
Ignik Bolsters Sales Team With New Rep Groups
Ignik has hired two sales organizations to represent the brand—Adventure Marketing Group in the Southeast and Mountain High Sales & Marketing in the North Central Eastlake territory—securing nationwide coverage in its second year of business.
The Big Gear Show Names Marketing And Project Director
The Big Gear Show has hired Nisa Meineke as its marketing and project director, coming from a digital marketing, brand strategy and project management background in the cycling and outdoor space.
Rossignol Opens Aspen Retail Store
Building on its Aspen, CO retail “pop-up” boutique’s success, Rossignol opened a larger, permanent store in downtown Aspen.
Wolverine Worldwide Exceeds Fourth-Quarter Revenue And EPS Expectations
Wolverine World Wide Inc. reported sales were down 16.1 percent in the fourth quarter and earnings also were below year-ago levels but results were ahead of Wall Street’s targets and the company predicted an “accelerated recovery” in 2021. Owned eCommerce revenue grew 50 percent in 2020.
Rocky Brands’ Q4 Sales Climb 16 Percent
Rocky Brands Inc. reported earnings climbed 91.1 percent in the fourth quarter on a 16.2 percent revenue gain.
Gap To Build Texas Distribution Center To Support Online Growth
Gap Inc. announced plans to open a new state-of-the-art Customer Experience Center in Longview, TX to support Old Navy’s growing online business.
Belk Files For Bankruptcy
Belk Inc., as expected, filed for bankruptcy protection in Houston, TX commencing “Pre-Packaged, One Day” reorganization. The plan calls for the reduction of $450 million in debt from the department store’s balance sheet and a $225 million capital infusion, supplied by Belk lenders and its private-equity owner Sycamore.
REI Expands Mobile Work Practices
REI announced that it has both identified the first of its future satellite offices in Issaquah, WA and will test a model that allows employees to work up to five days a week from home. The moves follow REI’s sale last September of its newly completed corporate campus in Bellevue, WA, with plans to shift to a more distributed work model.
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