Garmin Appoints Co-COOs
Patrick Desbois and Brad Trenkle were promoted to the newly created role as co-chief operating officers (Co-COO), effective July 1, 2024. Desbois had been Garmin’s EVP of operations, while Trenkle led the company’s outdoor segment.
Target+ Opens to Shopify Sellers in New Partnership
Target Corp. unveiled a new partnership with e-commerce platform Shopify aimed at expanding its digital marketplace offerings. Beginning June 24, merchants currently utilizing Shopify’s services can apply to join Target+, the retailer’s third-party marketplace.
CSG Again Increases Purchase Price for Vista Outdoor’s Ammo Business
Vista Outdoor, Inc. announced that Czechoslovak Group (CSG) had increased its bid for The Kinetic Group, Vista Outdoor’s ammunition business, by $40 million from $1.96 billion to $2 billion. The higher offer comes as Institutional Shareholder Services (ISS) last week called on Vista Outdoor shareholders to abstain from voting to approve the sale.
EXEC: Rip Curl, Oboz Parent KMD Brands Sees Weaker-Than-Expected End to Fiscal Year
The parent company to the Rip Curl, Oboz and Kathmandu brands reported a slower-than-expected start to the winter promotional season for Kathmandu and noted that Rip Curl and Oboz wholesale customers continue to reduce their inventory holdings.
Shaun White’s Unrivaled Sports Acquires Stake in Snobahn
Snobahn, founded in 2016, offers indoor facilities to advance skiing, snowboarding, skateboarding, and BMX skills to with features that include revolving slopes and trampoline freestyle areas.
EXEC: Vista Sees Proxy Advisor Change View on Ammo Group Sale; Suggests MNC Re-Look
Institutional Shareholder Services is now calling on Vista Outdoor shareholders to abstain from voting on Vista’s $1.96 billion sale of its Kinetic Group ammunition business unit to Czechoslovakia Group after recommending shareholders approve the sale only three weeks ago.
Summer Kicks Off in NYC with Mubadala New York Sail Grand Prix
The first F50s have hit the water in New York City to begin training ahead of racing this weekend. After two fleet races on June 23, the top three ranked teams will fiercely compete in the winner-takes-all final, which will ultimately decide the event winner.
Badlands Launches UV Hoodie for Hot-Weather Adventures
Features include a UPF 50 UV protection rating to keep the worst of the sun’s rays off the body. Now in its 32nd year, Badlands focuses on quality, innovation, and performance and offers an unconditional lifetime product warranty.
Report: Retail Sales Show Signs of Stabilization in May
The latest report from Circana reveals that U.S. retail sales, encompassing discretionary general merchandise and consumer packaged goods (CPG), have experienced a 1 percent growth, with consumers adapting their spending habits in response to moderating price pressures.
Head Rush Technologies Recalls Belay Devices
Head Rush Technologies recalled about 2,200 Trublue iQ auto belay devices for climbers sold in the U.S. due to a fall risk.
EXEC: EMS/Bob’s Parent to Shutter Distribution Center in Bankruptcy Proceedings
In a bankruptcy court affidavit, David Barton, CEO of Mountain Sports LLC, the parent of Eastern Mountain Sports (EMS) and Bob’s Stores, said the company plans to close its primary distribution center and fulfill orders from stores as an initial step its reorganization.
BioLite Acquires MPowerd
Co-founded in 2012 as a B Corp. and Benefit Corporation by John Salzinger, MPowered CEO Seungah Jeong and the sales and marketing departments will join the BioLite team.
NSGA Promotes Jenny Shaffer to CFO
Shaffer worked as a summer intern for the Association in 2011 and returned to join the company full-time in 2019 as comptroller. Before that, Shaffer worked for the accounting firm of Plante Moran in Chicago from 2012 to 2019.
Amazon to End Plastic Use In Shipping
Amazon will eliminate “almost 15 billion plastic air pillows annually to reduce its environmental footprint.” The company will use 100 percent recycled paper filler, which is recyclable and “offers the same, if not better, protection.”
Birkenstock’s Debt Ratings Upgraded By S&P
S&P Global Ratings revised up its full-year guidance to expected annual sales growth of 20 percent in 2024, from 17 percent to 18 percent previously.
