SGB Executive Outdoor
EXEC: Sports Direct Parent Fraser Group Cuts FY Guidance on Consumer Headwinds
The UK-based parent of the Sports Direct, Flannels, Jack Wills, House of Fraser, and Gieves and Hawkes retail brands saw shares fall over 10 percent on the LSE after the global sports and lifestyle retail giant issued a profit warning for the full-year.
EXEC: Revelyst to Directly Oversee Giro and Bell Sales and Distribution in UK
Revelyst said UK retailers and customers can expect exciting developments in the coming months, including the launch of refreshed e-commerce platforms for both Giro and Bell, expanded community initiatives, and events designed to celebrate and support the UK cycling, snow and powersports communities.
EXEC: Teijin Group Touts Circularity Bonafides, Invests in Pre-B Round at Circularise
The funding will facilitate Circularise’s expansion in high-performance materials and broader industrial markets while preparing the groundwork for an anticipated Series B round.
EXEC: G3 Genuine Guide Gear Acquired Out of Receivership
In August 2024, Deloitte Restructuring, Inc. (DRI) was appointed by the Supreme Court of British Columbia as the Receiver, without security, of certain G3 assets. The Court approved an Asset Purchase Agreement with Canadawide Sports on November 8.
Reports: Black Friday Online Shopping Breaks Records as Brick & Mortar Traffic Wanes
At first glance, it appears that Black Friday weekend did not materialize as hoped or expected this year as e-commerce came out the clear winner for Black Friday and brick & mortar sales suffered for the official start of the Christmas holiday shopping season.
Vista Completes Ammo Segment Sale; Revelyst Sale Set for January Close
The sale of The Kinetic Group to Czechoslovak Group a.s. has been completed. The company’s Outdoor Products segment, also known as “Revelyst” will begin trading on NYSE on Wednesday, November 27 under the ticker “GEAR”.
EXEC: The Oberalp Group Opens New Pomoca Brand Headquarters in Switzerland
The Oberalp Group, which owns Salewa, Dynafit, Pomoca, Wild Country, Evolv, and LaMunt, has opened a new Pomoca brand headquarters in Chavornay, Switzerland, after three years of construction and a $13.5 million investment in the ski skin brand.
EXEC: Sports Direct Parent Set to Acquire South Africa’s Holdsport Group
Frasers Group, the parent of UK-based Sports Direct, has closed on an agreement to acquire South Africa-based Holdsport Group from Old Mutual Private Equity and Holdsport’s management.
EXEC: Amer Sports Inks Deal to Allow Salomon, Atomic Binding System
Amer and Rottefella have reached an agreement regarding the Cross-Country Shift and Shift Race binding systems following a ruling from the Oslo District Court favoring Rottefella, which would have essentially banned the sale of Salomon’s and Atomic’s Shift and Shift Race binding systems.
EXEC: Dick’s SG Beats Q3 Expectations; Increases 2024 Comp Sales and EPS Outlook
The company raised full-year 2024 guidance for comparable sales growth to a range of 3.6 percent to 4.2 percent, up from 2.5 percent to 3.5 percent previously, and raised diluted EPS guidance to between $13.65 to $13.95 per share, up from $13.55 to $13.90 previously.
EXEC: VF Corp. Shuttering East Coast DC, Moving Dickies to Vans HQ; 360 Jobs Impacted
The two moves, seen as part of the company Reinvent plan, are expected to impact 242 employees at the Virginia distribution center and another 120 Dickies staff with the move to California.
EXEC: JD Sports Expects Full Year Profit at Lower End of Forecast on Weaker Comps
After a good start to the period, helped by strong back-to-school sales, the parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail banners said it saw increased trading volatility in October, particularly in North America and the UK, reflecting elevated promotional activity and mild weather.
EXEC: Target Corporation Shares Hit New Low After Q3 Miss, Disappointing Guidance
For the fourth quarter, the company now expects approximately flat comparable sales and GAAP and Adjusted EPS of $1.85 to $2.45, translating to a full year expected GAAP and Adjusted EPS range of $8.30 to $8.90 per share.
EXEC: Salomon Gets New CEO as Growth Moderates in Q3 on Weaker Equipment Business
By region, strong growth in Greater China and APAC was said to be partially offset by slower sales in EMEA and North America. The company expects to end 2024 with approximately 200 Salomon stores in China, with the opportunity to grow to several hundred locations over time in just Tier 1 and 2 cities.
EXEC: Arc’teryx Outperforms Once Again in Q3 Despite Tough 2023 Comps
Direct-to-consumer remains the brand’s core growth engine, but Arc’teryx also reported strength in the Wholesale channel, which grew 26 percent. U.S. Wholesale was reportedly a standout for the quarter, especially for Arc’teryx.
