EXEC: Colt CZ Gets H1 Revenue Boost from Sellier & Bellot Deal as Profits Shrink on Costs
Revenues for the first half (H1) increased 41.2 percent year-over-year (y/y) to CZK 9.69 billion, said to be mainly driven by sales growth in the second quarter of 2024 and the consolidation of the newly acquired Sellier & Bellot company as of May 16, 2024.
EXEC: Vista Outdoor Board Backs CSG Deal; MNC Financial Backer Looking at Revelyst
Ultimately, CSG agreed to acquire The Kinetic Group for $2.15 billion, which is ~$250 million higher than the implied valuation of MNC’s last proposal and agreed to purchase shares representing 7.5 percent of standalone Revelyst for $150 million, valuing Revelyst at $2.0 billion.
New Backcountry Owner Taps Schottenstein Affiliates for $112M Financing Support
Schottenstein affiliates Second Avenue Capital Partners, SB360 Capital Partners and Ares Commercial Finance have closed on a $112 million Senior Secured Revolving Credit Facility and Term Loan for Backcountry.
EXEC: Gartner Expects 32 Percent of Consumers to Shop Early for Holidays
Gartner suggests that 32 percent of consumers will begin holiday shopping between July and October and only 14 percent of U.S. consumers plan to spend more year-over-year, with 21 percent of consumers reducing their holiday spending.
The Lycra Company Publishes Latest Sustainability Update, Progress Versus 2030 Goals
The sustainability goals outlined in the company’s third annual report are structured around three pillars and align with five United Nations Sustainable Development Goals.
SportRx Adds New Leadership in Marketing, Sales and Operations
SportRx has hired Monica Rigali as VP of marketing and Curtis Ellis as VP of sales and operations. They will report to Rob Tavakoli, who was promoted to CEO in 2022 after nearly 18 years working for the company.
Coolcore Appoints CEO and Majority Owner
Eric Schenker has joined the company as chief executive officer and majority owner. Previously, he was the CEO of Craft Sportswear NA, a performance apparel manufacturer
D&M Holding Invests $70M in Arkansas Ammunition Primer and Energetics Facility
The company said the new White River Energetics facility in Des Arc, AR will be the first single-base propellant factory to be built in the United States in over 50 years.
Report: Companies are Lowering the Talent Bar and Modifying Job Requirements
Companies are challenged to find both best-fit outside candidates and identify and cultivate existing talent,” Betterworks observed in the survey summary report.
Outdoor Recreation Industry Convenes Briefing on Impacts of U.S. Trade Policy
Industry stakeholders in the virtual meeting emphasized that growth in the outdoor recreation economy is threatened by ongoing trade disruptions and the expiration of essential trade programs, including the Generalized System of Preferences.
Report: August Retail Sales Growth Slowed Sequentially from July Trend
August’s core retail sales, as defined by the NRF, are based on census data, excluding auto dealers, gas stations and restaurants, were reportedly up 0.3 percent m/m seasonally-adjusted and up 3.3 percent y/y unadjusted.
EXEC: Bain Sees E-Commerce Driving 90 Percent of Holiday Growth (updated)
Bain said a potential rate cut this week could spur consumer confidence and sales may also benefit as some consumers feel wealthier from rising disposable income and strong stock market gains this year. Deloitte and Bain both see e-commerce up in the high single digits for Holiday 2024 versus Holiday 2023.
Lazydays Holdings Promotes Amber Dillard to Chief Operating Officer
The newly minted COO sits on the Board of the Lazydays Employee Foundation, which is dedicated to helping at-risk kids in the communities the company serves.
Akusoli Insoles for Healthy Feet, Back and Body
Leveraging acupressure cushions and magnetic technology placed in pressure points corresponding to specific body parts, the company’s insoles offer wearers a “gentle massage for relief and relaxation.”
NRF Names Jill Dvorak as Senior VP of Content
Dvorak previously served at the NRF as vice president of content and retail strategy from 2017 to 2022. Before returning to the NRF, Dvorak was the chief content officer at CommerceNext.
