EXEC: Zumiez Hopeful for Holiday Selling After Q2 Beat and BTS Momentum
Zumiez, Inc. reported better-than-expected Q2 results with sales declines lessening further into the third quarter, including men’s, its largest category, turning positive. The action sports chain predicted another high-single to low-double-digit decline for the third quarter but remains hopeful of continued improvement through holiday selling.
Gatorz Eyewear Hires Product Line Director
Gatorz Eyewear, developing eyewear for military and law enforcement, shooting sports, hunting, and outdoor, hired Marilyse Gagnon as product line director with over a decade of experience in the eyewear industry.
Zumiez Second-Quarter Results Beat Expectations
Zumiez, Inc. showed a loss in the second-quarter ended July 29 on a sales decline of 11.6 percent, but results exceeded guidance as sales trends improved each month with encouraging early back-to-school sell-throughs.
American Outdoor Brands Narrows Fiscal Q1 Net Loss on Flattish Sales
First quarter net sales were $43.4 million for the period ended July 31, a decrease of 0.5 percent versus the comp quarter last year. Traditional channel net sales increased 8.4 percent, while e-commerce net sales declined 10.6 percent.
BRC Sees Confident UK Consumers Boost August Retail Sales
Total UK retail sales increased by 4.1 percent in fiscal August, against growth of 1.0 percent in August 2022, coming in above the 3-month average growth of 3.6 percent and in line with the 12-month average growth of 4.1 percent.
NRF Acquires Reverse Logistics Association
While hundreds of retail brands offer “gently used” products for sale, others sell excess inventory at a discount. The reverse logistics industry manages the collecting, sorting, repairing, and refurbishing of products for resale or recycling.
Authentic Appoints EVP to Manage Former Boardriders Brand Portfolio
The company hired David Brooks as EVP of action and outdoor sports lifestyle. Most recently, Brooks with the global general manager for RVCA and Boardriders Partnerships at Boardriders.
CPSC Issues Warning on Cyclingsell Zacro Bicycle Helmets
The U.S. Consumer Product Safety Commission (CPSC) is warning consumers to immediately stop using Cyclingsell Zacro adult bike helmets because they can fail to protect a cyclist’s head in the event of a crash. The seller, cyclingsell.com, of China, has not agreed to recall the helmets or to offer a remedy to buyers.
Netflix Co-Founder Acquires Majority Stake in Powder Mountain
Reed Hastings is now the majority owner of Powder Mountain following a $100 million investment that signals a new era for the mountain resort known for its “daily lift ticket caps and uncrowded visitor experience.”
Thélios Acquires Vuarnet from NEO Investment Partners
Thélios said it aims to restore the brand’s former glory, empowering Vuarnet to elevate its product quality and push the boundaries of innovation. Vuarnet’s mineral lens expertise will reportedly benefit Thélios to expand its know-how in this area.
Sally Jewell Named Board Chair at Symetra Financial Corp.
The former CEO of REI and Secretary of the Interior was designated as the chair of the company’s Board of Directors, effective August 24, 2023. Jewell joined Symetra’s board in March 2018.
EXEC: Sportsman’s Warehouse Sets Aggressive Markdowns as Business Weakens Further
Shares of Sportsman’s Warehouse are running down about 17 percent in pre-market trading Thursday as the hunt & fish chain’s second-quarter earnings came in well below guidance and another double-digit comp decline was forecast for the third quarter.
Sportsman’s Warehouse Swings to Second Quarter Loss as Comps Fall
The 11.8 percent net sales decrease was said to be primarily due to lower demand across all product categories and a decline in store traffic resulting from the continued impact of consumer inflationary pressures on discretionary spending, partially offset by the opening of 14 new stores.
EXEC: Amer Sports Files Confidentially to Go Public
Amer Sports, the parent of Salomon, Wilson, Arc’teryx and other sports brands, filed confidentially for a U.S. initial public offering that could value the group as high as $10 billion. The offering would come as Amer Sports’ business has seen accelerated growth, driven by Arc’teryx and Salomon and growth in China.
Lazydays Adds Two Board Members
Lazydays, an RV dealer, announced that Erika Serow gave notice that she is resigning from its Board of Directors for personal reasons, effective September 30. Concurrently, Lazydays appointed Suzanne Tager and Susan Scarola to the Board.
