Bob’s and EMS to Close Stores, Layoff Employees Amid Financial Struggles
Owned by Los Angeles-based GoDigital Media Group, Bob’s Stores and EMS are closing some stores and will layoff employees beginning June 14 as it company faces liquidity woes.
Patagonia Hires EMEA Marketplace Director
An outdoor veteran with over 20 years of experience in the industry, Stephan Hagenbusch, formerly at Black Diamond Equipment, assumes the role as marketplace director for the EMEA region.
Tailwind Nutrition Hires Director of Finance
Carter Shae was appointed director of finance. Most recently, he worked as CFO for Cut Clothing overseeing finance, accounting, human resources, customer experience, logistics, and board and investor relations.
EXEC: Academy Sports CEO Remains Bullish on Sales Recovery
Academy Sports and Outdoors missed Wall Street’s earnings expectations for the second straight quarter on lower-than-expected sales but Steve Lawrence, CEO, told analysts he remains confident growth will improve in coming quarters as the chain benefits from a focus on newness and value while capitalizing on key selling occasions over the year.
WatchOS 11 from Apple Offers Intelligent Customization
WatchOS 11 offers breakthrough insights from Apple into users’ health and fitness and more personalization.
Academy Sports’ Q1 Earnings Miss Wall Street Targets
Academy Sports and Outdoors, Inc. reported first-quarter earnings on an adjusted basis slid 20.8 percent and came in lower than analyst expectations for the second straight quarter. Same-store sales were down 5.7 percent, and gross margins were off slightly. Steve Lawrence, CEO, said, “Our customers remain under pressure in the current economic environment.”
Lee Launches Collab with HeyDude For Summer
Lee and HeyDude launch new collaboration for Summer with Netflix Outer Banks series actor Chase Stokes, and current HeyDude ambassador, as the face of the campaign.
Therm-A-Seat Secures Midwest Representation
The Lucci Corp, Inc., the manufacturer of Therm-A-Seat products, announced a partnership with PMI-MAX to represent Therm-A-Seat in the Midwest region.
Lazydays Names Chairman
Lazydays Holdings, Inc. announced that lead independent director and former interim-CEO Robert DeVincenzi has been appointed chairman of its Board of Directors. DeVincenzi succeeds Christopher Shackelton, managing partner of Coliseum Capital Management LLC, who decided to step down as a director.
CNBC/NRF: Retail Sales Jump in May After Slow April
May’s year-over-year gains align with what was seen earlier in the year, and the month-over-month increases are the largest in over a year.
Vail Resorts’ Q3 Results Miss Expectations, Guidance Lowered
Vail Resorts, Inc. reported earnings and sales for its fiscal third quarter ended April 30 missed Wall Street expectations due to a “combination of unfavorable conditions and broader industry normalization post-COVID following record visitation” at U.S. ski resorts during the 2022/23 ski season.” Skier visits slid 3.2 percent in the quarter. Earnings guidance was lowered for the year.
Monthly Import Cargo To Hit Highest Level Since 2022
Retailers, however, are also facing supply chain challenges with congestion at overseas ports that are affecting operations and shipping rates.
EXEC: Vista Outdoor Receives New Bid For Ammo Business, JDH Capital Reported Bidder
Vista Outdoor reported it received an all-cash $2 billion takeover offer for its ammunition business from an unnamed private U.S. investment firm. JDH Capital, the investment group run by Texas oil billionaire Jeffrey Hildebrand, is behind a new bid, sources told the Financial Times.
Eleven Names U.S. Ski Hall of Famer as Director of Skiing
Longtime ski equipment specialist and industry veteran Mike Hattrup is in charge of developing and promoting the company’s network of ski destinations across four continents.
Polaris Launches Off-Road E-Charging Network in Michigan’s Upper Peninsula
Polaris and the Michigan Economic Development Corporation launched an electric off-road vehicle charging network in Michigan’s Upper Peninsula. Hamilton’s North Coast Adventures near Ontonagon, MI., is the first in the U.S. to offer a rental fleet of Polaris’ all-electric off-road vehicle, the Ranger XP Kinetic.
