SGB Executive Sportsmans
EXEC: Rocky Brands’ Q2 Boosted by Strength at Durango and Xtratuf
Rocky Brands reported sales grew 6.1 percent in the second quarter adjusted for the divestiture of the Servus brand as double-digit gains at the Durango western boot brand and Xtratuf fishing boot brand offset weakness in its work and hunt categories as well as at Muck.
Vista Outdoor Cancels CSG Deal Vote Again; Will Look at Other Options
Adjourned its shareholder vote on the sale of the Kinetic Group, its ammunition business, to the Czechoslovak Group (CSG) to pursue a more extensive review of “strategic alternatives,” including a sale of its Revelyst outdoor products business and selling the company outright to MNC Capital.
EXEC: Shimano Sees Continued Headwinds Drive H1 Sales and Profits Lower
The company said that demand for bicycles and fishing tackle continued to be weak and reported net sales decreased 17.6 percent year-over-year in the first half. Second quarter sales were down 15.2 percent.
EXEC: Investor Pressure Builds on Vista Outdoor Ahead of Ammo Sale Vote
Investor groups from the two sides of the vote scheduled for July 27 have been making their preferences known, and analysts and advisors have weighed in with their views. After rescheduling a vote three times, tomorrow is V-Day.
EXEC: Newell Outdoor & Rec Segment to See H2 Upside Under New CEO
The company’s Outdoor & Recreation segment remains the firm’s “weakest” division from a profitability and sales perspective and “most in need of a turnaround” and new leadership in the segment are now in place in Atlanta.
EXEC: Rapala VMC Gets Back to Growth in First Half as Retail Market Improves
The Finnish fishing equipment and Nordic ski company described the operating environment in the first half of 2024 as “reasonable” as inflation started to ease and retail activity improved from 2023.
EXEC: Royal Robbins Parent Sees “Disappointing” Q2 as Inventory Woes Persist
Fenix said the retailer market still faced a situation with higher-than-normal inventory, as well as volatile trading because of weather and said there are also indications that a number of retailers are facing some liquidity/financial problems.
EXEC: Mips Posts Sharp Increase in Q2 Sales as Bike Helmets Recover
Mips saw its turnaround efforts pick up significant momentum in the second quarter, posting strong growth and doubling its earnings for the three-month period ended June 30.
EXEC: Thule Posts Tepid Q2 Sales Growth; U.S. Market Seen as “Weak but Positive”
The North American market continued to be challenging with a high level of promotional activity. Sales of bike-related products, Juvenile & Pet and Thule branded products in Packs, Bags & Luggage showed growth in the region.
EXEC: Hydro Flask Posts Fiscal Q1 Growth Internationally, but U.S. Falls Short of Plan
Helen of Troy’s CEO said Hydro Flask has embraced the shift in the category with new on-trend content that depicts young people in a range of activities extending beyond its traditional positioning. She also called out that Hydro Flask has broadened its presence in premium grocery customers and beyond.
EXEC: Columbia Sportswear Shares Tick Up on Analyst Upgrade
The last big jump for Columbia came after 2024 first-quarter results surpassed analysts EPS expectations and revenue also came in ahead of consensus estimates. COLM shares jumped 10.6 percent at the time. COLM shares are now flat for the year.
EXEC: New Report Sees E-Commerce Growth Rate Contracting 70 Percent by 2029
According to data presented by Stocklytics.com, the annual growth rate in the e-commerce sector is now expected to slow to just 4.6 percent by 2029, or 69.3 percent lower than the forecasted 2024 growth rate.
EXEC: Vista Outdoor Rejects MNC Final Offer as CSG Ups Ammo Segment Offer to $2.1B
Vista Outdoor Board unanimously recommended the CSG offer to acquire Vista’s Kinetics Group ammo segment, and it unanimously rejected MNC Capital’s final indication as inadequate and opportunistic, particularly in its undervaluation of the Revelyst outdoor products segment.
EXEC: Delta Apparel Files for Chapter 11 BK Protection; Names Salt Life Stalking-Horse Bidder
The parent of the Soffe, Salt Life and Delta brands has posted losses for seven straight quarters as elevated inventory levels at the mass channel and related destocking efforts have impacted its Delta Direct vertical blank tee platform.
EXEC: Wall Street Debates Shareholder Approval for Vista Outdoor’s CSG Deal
Wall Street analysts appear split on whether Vista Outdoor’s sale of its Kinetic ammunition business to Czechoslovak Group a.s. will now go through after receiving long-awaited regulatory approval or whether a higher bid from MNC Capital for the entire business and a potential DOJ investigation could derail the deal.
