The unsolicited indication of interest from MNC Capital Partners in acquiring the parent of the Camelback, Bell, Giro, Simms, Bushnell brands, and the Remington and Federal ammunition businesses in an all-cash transaction for $35.00 per Vista share.
Layne Rigney said he is spending most of his time in Bozeman, MT, the home of Mystery Ranch, as he is doing a full assessment of the business and how it will integrate with the broader Yeti softgoods business.
Velocity Outdoor segment operating loss for the year ended December 31, 2023 was $32.8 million, a decrease of $51.8 million when compared to segment operating income of $19.0 million for the comparable period in 2022.
PrimaLoft performed an interim impairment test of their goodwill as of December 31, 2023 as a result of operating results that were below forecast amounts that were used as the basis for the purchase price allocation at acquisition.
Fourth quarter sales at BOA were down slightly year-over-year while Adjusted EBITDA for the BOA business increased to $14.0 million in Q4, compared to $13.8 million in the 2022 fourth quarter.
Only a single-digit percentage of revenue in the Americas is attributed to new points of distribution, with a heightened focus on specialty retailers, including sports-specific, running retailers where the benefits of the Birkenstock footbed is seen as a recovery product.
The 5.11 Tactical brand was the only active lifestyle brand in the segment to post an increase in sales for the year, due in large part to its direct-to-consumer component of the business as all other brands continued to deal with the ongoing retail de-stocking process prevalent across the U.S. retail landscape.
Titleist golf balls posted healthy sales gains for the year, led by the successful Pro V1 and Pro V1x launch and continued strengthening of the golf ball supply chain, while Titleist golf clubs growth was said to be driven by new T-Series irons and expanded club fitting capabilities.
The Apparel category was down approximately 30 percent year-over-year in the fourth quarter. The Footwear category was down approximately 17 percent and the Hardgoods category was down approximately 11 percent for the period.
Sales growth for 2024 is estimated in the mid-single-digit percentage rate in constant-currency terms and EBIT is seen in a range between €620 million and €700 million.
The parent of Sports Direct, Slazenger, Donnay, LA Gear, No Fear, and Antigua, is appointing new directors to its Board, including Helen Wright, Global CEO of Sergio Rossi, Sir Jon Thompson, former chief executive of the Financial Reporting Council, and two current company executives, Ger Wright and Ger Wright.
As previously announced, Adidas will release its remaining Yeezy inventory, featuring products from 2022, through the course of the year, beginning with the 350 V2 in Steel Grey.
The U.S. region, which boasts the largest regional sales volume, grew 9.7 percent year-over-year to £250.4 million. U.K. sales increased 25.6 percent to £111.7 million and Europe revenues increased 16.1 percent year-over-year.
Merrell declined 17.0 percent in Q4 to $161.8 million. For the full year, Merrell was down 11.3 percent in constant-currency to $675.8 million. Merrell is expected to decline in the low-double-digit range in 2024 with inflection to growth in the second half.
Consolidated net sales declined 9 percent to $1.46 billion for the full year. The decline for the year was attributable to the Specialty Sports Group Bike segment, which was down $309 million, or 45 percent, year-over-year.