SGB Executive Sportsmans
EXEC: Hydro Flask Grows as Osprey Shrinks in Fiscal Q2 Period
Hydro Flask successfully launched into Costco, a key retailer for an expanded target consumer. The brand also reportedly benefited from strong distribution internationally with sales up in all key markets. Hydro Flask reportedly successfully launched its photography accessories line.
Survey: Nearly Two-Thirds of Americans Want to Shop Local More
Lending Tree’s online survey of 2,000 U.S. adults, taken from August 12-14, 2024, found that 90 percent of respondents believe shopping locally positively impacts the quality of their life.
EXEC: Is The Vista Outdoor Bidding War Finally Over?
Vista’s Outdoor’s moves over the weekend to find a buyer for the Revelyst outdoor business and receive yet another higher offer for its Kinetic Group ammunition and firearms business should be enough to secure shareholder approval and avoid another hostile bid, according to several analysts following the stock.
EXEC: Vista Inks Deals to Sell Revelyst and The Kinetic Group Separately
Vista Outdoor Inc. entered into a definitive agreement to sell its Revelyst outdoor segment to funds managed by Strategic Value Partners and amended its merger agreement with Czechoslovak Group (CSG) to acquire The Kinetic Group ammunition-related segment.
Manufacturing PMI Report Sees U.S. Contraction; Textile Mills Posted Sept Growth
Seventy-seven percent of manufacturing gross domestic product (GDP) contracted in September, up from 65 percent in August. Textile Mills were one of only five manufacturing industries reporting growth in September.
U.S. Port Workers and Operators Reach Deal to Suspend East Coast Strike
In a joint statement on the evening of October 3, the ILA and USMX reached a tentative agreement on wages and extended the group’s “Master Contract” until January 15, 2025, when they will return to the bargaining table to negotiate all other outstanding issues.
EXEC: Vista Delays CSG Merger Vote Again as Large Investor Opposes Deal
The company noted in a media release that October 9 is the last possible date for the company to hold the special meeting ahead of the October 15, 2024 termination date in the merger agreement with CSG. A large investor said not so fast.
EXEC: The 2024 Holiday Retail Calendar Adds Twists, Turns and Speed, According to BCG
In 2023, consumers completed over 50 percent of their Holiday shopping before Thanksgiving. However, the peak Holiday period (after Cyber Monday through Christmas Eve) was still the busiest, with 36 percent of shopping. This year that period will only have 27 days.
EXEC: Colt CZ Gets H1 Revenue Boost from Sellier & Bellot Deal as Profits Shrink on Costs
Revenues for the first half (H1) increased 41.2 percent year-over-year (y/y) to CZK 9.69 billion, said to be mainly driven by sales growth in the second quarter of 2024 and the consolidation of the newly acquired Sellier & Bellot company as of May 16, 2024.
EXEC: Vista Outdoor Board Backs CSG Deal; MNC Financial Backer Looking at Revelyst
Ultimately, CSG agreed to acquire The Kinetic Group for $2.15 billion, which is ~$250 million higher than the implied valuation of MNC’s last proposal and agreed to purchase shares representing 7.5 percent of standalone Revelyst for $150 million, valuing Revelyst at $2.0 billion.
EXEC: Gartner Expects 32 Percent of Consumers to Shop Early for Holidays
Gartner suggests that 32 percent of consumers will begin holiday shopping between July and October and only 14 percent of U.S. consumers plan to spend more year-over-year, with 21 percent of consumers reducing their holiday spending.
EXEC: Bain Sees E-Commerce Driving 90 Percent of Holiday Growth (updated)
Bain said a potential rate cut this week could spur consumer confidence and sales may also benefit as some consumers feel wealthier from rising disposable income and strong stock market gains this year. Deloitte and Bain both see e-commerce up in the high single digits for Holiday 2024 versus Holiday 2023.
EXEC: Biden Uses Executive Action to Stymie Temu and Schein Efforts in the U.S.
The actions would also protect U.S. textile and apparel manufacturers, noting the critical role they play in the U.S. defense industrial base and its support of hundreds of thousands of direct and indirect jobs in the United States.
EXEC: Vista Outdoor Inks New CSG Proposal to Invest in Revelyst; Calls Out Large Shareholder
Czechoslovak Group a.s. has agreed to make a significant investment in Vista’s Revelyst outdoor products segment. The Board said this would increase cash consideration to stockholders by $4 per share to $28 per share.
EXEC: Caleres Brand Portfolio Sees Tough Q2 on SAP Update while Famous FW Improving
An ERP upgrade to SAP Cloud during the quarter was said to be a significant part of the problem as it impacted the Brand Portfolio business and helped push sales down 5.1 percent in that segment, but it was not the entire problem. CEO Jay Schmidt detailed the problems and the solutions implemented.
