SGB Executive Sportsmans
EXEC: MNC Capital Partners Ups Ante in Vista Outdoor Takeover Bid
MNC submitted an increased all-cash proposal to acquire Vista Outdoor, Inc. for $37.50 per share, or approximately $3.0 billion, as it tries to head off the sale of Vista’s ammo business to a foreign entity. Meanwhile, Vista has scheduled a shareholder vote for the sale of the ammo business to Czechoslovak Group.
EXEC: Academy Execs Break Down Q4 Hits and Misses, 2024 Outlook
Academy saw an improving comp store sales trend in its fiscal fourth quarter, and while still negative, it gave company management something to hold on to when assessing overall performance in Q4, the full year ended February 3 and planning the year ahead.
EXEC: Gregory, High Sierra Parent Company Seeks Dual Listing for Shares
An additional listing is expected to increase liquidity of the company’s shares and create an opportunity to reach investors in markets that are an important part of the company’s global footprint and growth drivers for its business.
EXEC: Caleres Looks to Invest in Brand Portfolio Growth as Famous Footwear Struggles
The parent company of Famous Footwear and the Naturalizer, Vionic, Allen Edmonds, Blowfish Malibu, and Sam Edelman brands said the Brand Portfolio segment led the financial performance of the company for the first time in nearly two decades.
EXEC: L.L.Bean Approves 9 Percent Bonus for 5,600 Employees Despite a Down Year
The retailer ended the 2023 fiscal year with annual net revenue totaling $1.7 billion, compared to $1.8 billion in the prior year. The Board approved a performance bonus of 9 percent of annual pay for its approximately 5,600 employees, comprised of a 5 percent cash bonus and a 4 percent 401(k) contribution.
EXEC: Dick’s Sporting Goods on Path for Biggest Expansion Since 2017
After a strong finish to the fiscal year and posting its largest Q4 ever, the company has already put its stake in the ground for the next chapter (or chapters) in the story of the 75-year-old sporting goods retailer.
EXEC: Clarus Files Suit to Recover Shareholders’ Short-Swing Profits
The company seeks to “disgorge profits from certain shareholder transactions” in Clarus’ common stock in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended.
EXEC: Smith & Wesson Gets Fiscal Q3 Lift from New Long Gun Sales
Handguns revenues decreased 7.4 percent in the quarter while Long Guns sales increased 110.5 percent, said to be primarily due to increased shipments of newly introduced products.
EXEC: Rapala VMC Posts Wider 2023 Net Loss on Double-Digit Sales Decline
The Finland-based fishing equipment and nordic ski manufacturer said de-stocking continued throughout 2023 but started to ease in the latter part of the year. Consumer spending remained tight due to high inflation and impacted especially higher ticket item sales.
EXEC: Vista Outdoor Board Rejects MNC Capital Acquisition Overture
The Vista Outdoor Board said in a Monday release that it continues to recommend the acquisition of the Sporting Products business by Czechoslovak Group a.s. and remains committed to the strategy of standing up the Outdoor Products business as a standalone public company.
EXEC: Vista Outdoor Fields $2.9 Bn Offer to Acquire Company in All-Cash Deal
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.
EXEC: Yeti’s New Head of Softgoods Talks Next Steps with Mystery Ranch
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.
EXEC: Velocity Outdoor Posts Operating Loss in 2023 as Sales Fall 26 Percent
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.
EXEC: PrimaLoft Takes $58 Million Impairment Charge as Operating Results Fall Short
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.
EXEC: 5.11 Tactical was the Lone 2023 Active Lifestyle Gainer at CODI
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.
