Tractor Supply Lowers Guidance On Below-Plan Q3 Revenues
Tractor Supply Company reported earnings improved 8.9 percent in the third quarter but sales came in softer than expected and the rural lifestyle retailer slightly lowered its outlook for the year. Same-store sales were off 0.4 percent due to declines in demand for seasonal goods and big-ticket items.
Krimson Klover Adds New Midwest Territory Reps
Jessica and Adam Guile of Phenix Project LLC will cover the Midwest-Great Lakes region.
Super Retail Group Comps Up 2 Percent for 16-Week YTD Period
The Australia-based parent of the Rebel Sports, BCF Outdoor and Macpac outdoor retail chains, provided an update on its year-to-date performance at its annual general meeting on October 25 as it cycles against big increases last year.
Solo Brands CFO To Leave in December
Solo Brands announced that Somer Webb, its CFO, has notified the company of her intent to pursue other opportunities. She will remain with the company until December 10. The company also reaffirmed its guidance for fiscal year 2023.
Grassroots Sees a “Return to Earth” for Specialty Heading into Fall Connect Show
Heading into the upcoming Grassroots Connect in November, GOA retailers reported a flattening of overall sales in the trailing 12 months prior to September, in what the specialty retailer organization is calling “an expected return to Earth.”
Vimazi drops Pace-Tuned Trail Running Shoes
Vimazi, the developer of pace-tuned running shoes, released its pace-tuned trail running collection, continuing the brand’s mission.
Blackcrows Drops Draco Freebird For Backcountry Ski
Blackcrows, the manufacturer of performance ski products and apparel, is introducing its latest addition to backcountry skiing— the Draco Freebird.
Marine Products Corp. Sees Q3 Boat Unit Sales Fall 24 Percent
The parent of the Chaparral and Robalo boat brands generated net sales of $77.8 million in the third quarter, a 22 percent decrease. Average selling price per boat increased primarily due to a favorable model mix.
Arbor Snow Adds To Sales, Marketing and Product Teams
Arbor Snowboarding, the California-based action sports brand, announces new hires and internal promotions across sales, marketing, and products.
Circana Delivers Muted Holiday Retail Outlook
Holiday spending is expected to come close to last year’s results but could fall short by as much as 2.5 percent during the traditional November and December shopping season, according to Circana’s annual Holiday Purchase Intentions study. The outlook was slightly improved when holiday sales falling in October are included.
West Marine’s Debt Ratings Upgraded on Out-of-Court Restructuring
S&P Global Ratings raised its debt ratings on Rising Tide, doing business as West Marine, after the marine aftermarket retailer was able to complete an out-of-court restructuring, exchanging previous debt for equity consideration and adding new debt to the capital structure.
Report: VF Corp. Faces Second Activist Investor Threat
VF Corp.’s shares were up about 3 percent in late-afternoon trading on a Bloomberg report that activist investor Legion Partners Asset Management is targeting the company. Legion’s push would follow a move by activist investor Engaged Capital to acquire a stake in VF and call for cost cuts and board changes.
Shimano’s YTD Sales Tumble 20 Percent on Cycling Weakness
Shimano, Inc.’s sales tumbled 19.8 percent in the nine months as sales in its Bicycle Components segment dropped 24.8 percent with the decline tied to high inventories in the IBD channel. The Japanese-based company nonetheless slightly raised its outlook for the year as orders in the back half weren’t as soft as expected.
REI To Open Eighth Store In Florida
REI Co-op announced plans to open another new store in Florida on November 10 in Sarasota at University Town Center. The 25,000-square-foot space is the co-op’s eighth store in the state.
VF Corp. Appoints Former Nike President to Board
VF Corp. appointed former Nike executive Trevor A. Edwards to the company’s Board of Directors, effective October 22. Edwards served as president of Nike, Inc. from 2013 until 2018.
