Vista Outdoor Sees Alternative Ammo Bidder Withdraw Offer
The alternative party that made a play for the company’s ammo business last week has withdrawn its offer to acquire The Kinetic Group, Vista’s ammunition business.
Consumer Sentiment Falls to 7-Month Low
University of Michigan Survey Director Joanne Hsu stated, “While consumer sentiment declined this month, the 3.5 Index point dip is relatively minor in the grand scheme. That decline is within the margin of error for the survey.”
Cocona Labs Finalizes China WFOE Incorporation
The company is now a wholly foreign-owned enterprise (WFOE) in Shanghai, China. With a growing percentage of Cocona’s yearly revenue attributed to Chinese brand customers, the market is a “critical component for success.”
Paka Opens Flagship in Peru
Paka Apparel, maker of sustainable clothing using fully traceable alpaca wool from wild-roaming alpaca in Peru, opened its first store in Cusco, Peru.
Yeti Opens Store In Kansas City
Yeti opened a store in Leawood, KS, a suburban community in the Kansas City metro area. The location is Yeti’s first in Kansas and 21st overall in the U.S.
Black Diamond Recalls Neve Strap Crampons
The recall involves Neve Strap Crampons and Accessory Kits, Style No. 400073, with date codes 01-2021, 05-2022, 07-2023, 01-2024, and SS1271.
Numerator: Consumer Confidence Held Steady in May
Consumer confidence was about flat compared to April, with 41 percent of consumers very or somewhat comfortable spending money on discretionary purchases.
Coghlan’s Snaps Up Fozzils
The integration of Fozzils’ products into Coghlan’s, maker of camping accessories, will begin immediately, with plans to introduce Coghlan’s branded products by Fall 2024.
PetSmart Goes for the Gold with Team USA Collection for Dogs
The limited-edition stars, striped and sporty collection for soccer, karate and basketball, also features tracksuits, hats and gold medal toys for pets to show “team pride in style.” PetSmart Doggie Day Camps will host a one-day-only Team USA-themed Doggie Day Camp experience on August 8, 2024, to celebrate and support Team USA.
EXEC: Academy Sports Talks Push for Better Footwear Allocations
Steve Lawrence, CEO at Academy Sports, elaborated on the retailer’s efforts to improve access to better product from its footwear vendor partners and secure new brands, including Hoka and On.
Pura Vida’s Q1 Revenues Tumble 37 Percent
according to Vera Bradley, Inc., Pura Vida’s parentm revenues totaled $12.7 million, a 37.0 percent decrease from $20.1 million in the prior year first quarter, primarily due to declines in e-commerce and wholesale sales,.
Tommy Bahama Parent Sees Q1 Sales Decline
Continued choppiness in the market and lack of sustained positive momentum, coupled with the drop in consumer sentiment, led Tommy Bahama parent to take a more conservative outlook for the balance of the year, lowering its fiscal 2024 sales and EPS guidance.
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.
