5.11 Tactical to Transition Senior Leadership
Francisco J. Morales, co-founder and former CEO will be promoted to executive chair of the Board of Directors, while 5.11 Board member Troy R. Brown will become CEO, effective January 1, 2024.
Tilly’s Posts Q3 Loss Amid Markdowns and Sales Declines
Tilly’s, Inc. reported a loss against a profit in the third quarter on higher promotions and a 9 percent decline in sales. Sales were at the lower end of the retailer’s guidance although the loss was lower than expected. The action-sports chain expects Q4 comps to decline between 9 percent and 6 percent.
American Outdoor Brands Sales Grow Mid-Singles in Fiscal Q2
Second quarter earnings per share was down by two-thirds despite a 6.2 percent increase in sales. The shooting sports category saw a slight decline in net sales by that decline was offset by growth in the outdoor lifestyle category.
Zumiez Posts Q3 Loss But Tops Guidance; Sales Slide 9 Percent
Zumiez, Inc. reported a loss in the third quarter ended October 28 on an 8.9 percent decline in sales but results topped the retailer’s guidance and sequential improvement was seen compared to the first two quarters of the year. Sales are down 4.6 percent so far in the current quarter.
EXEC: Academy Sports Sees Weather/Consumer Woes Derailing Sales Recovery
Academy Sports and Outdoors, Inc. said a slow start to fall selling due to warmer temperatures as well as continued weak consumer demand caused third-quarter results to miss plan, resulting in a downward revision to full-year guidance. CEO Steve Lawrence said on an analysts call, “We feel like we don’t have a challenged strategy. We’ve got a challenged customer.”
Report: U.S. Retail Footwear Sales Dip for Thanksgiving Week
Footwear units sold reportedly declined 4 percent in the week ending November 25, but dollar sales declined at a softer rate of 1 percent due to a 4 percent increase in average selling prices (ASPs)., according to Circana’s point-of-sale data.
Ski-Doo Parent Company Reports Q3 Lift from N.A. Snowmobile Sales
BRP Inc.’s North American Powersports Products retail sales were flat year-over-year for the third quarter, reportedly driven by the strong retail sales of Snowmobiles offsetting declines elsewhere. North American retail sales for Marine Products decreased 30 percent.
Sam’s Club to Open Two New Midwest Distribution Centers
The Walmart Inc.’s warehouse club division plans to open two new distribution centers in early 2024 outside St. Louis and Minneapolis.
Academy Sports Trims Guidance on Q3 Shortfall
The retailer narrowed its full-year guidance to the lower end of prior expectations as third-quarter sales and earnings arrived below expectations. The retailer blamed generally soft consumer spending and warm weather’s impact on fall selling.
Duluth Trading Posts Wider Fiscal Q3 Loss as Sales Decline
The retailer posted a net loss of $10.5 million, or a loss of 32 cents per diluted share, in the quarter, compared to a loss of $6.2 million, or a loss of 19 cents per diluted share, in the year-ago quarter. Net sales decreased 6.1 percent to $138.2 million.
Vail Resorts to Acquire Swiss Ski Resort
Vail Resorts, Inc. has agreed to acquire Crans-Montana Mountain Resort in Switzerland from CPI Property Group (CPIPG).
Vista Outdoor Rejects Buyout Proposal from Colt CZ
Vista Outdoor, Inc. said late Wednesday that following consultation with its financial and legal advisors, its board of directors had rejected the unsolicited proposal received from Colt CZ Group SE to acquire the company.
Costco’s Comps Improved 3.5 Percent in November
Costco Wholesale Corp. reported same-store sales rose 3.5 percent in November. By region, comps increased 1.8 percent in the U.S., 4.4 percent in Canada and 11.7 percent in its Other International segment.
EXEC: VF Corp. Cutting Another 500 Jobs
Fifteen months after cutting 300 jobs across its global workforce, the parent of the Vans, TNF, Dickies, Timberland, Smartwool, Jansport and other active lifestyle brands, is at it again, confirming Wednesday that another 500 jobs would be eliminated this week.
Bass Pro’s Debt Ratings Outlook Lowered On Sales Weakness
S&P Global Ratings lowered the debt ratings outlook of Great Outdoors Group, LLC, the corporate parent of Bass Pro and Cabela’s, due to the recent report of a negative sales performance for the third quarter and nine months ended September 30.
