Bass Pro Hints At Impending Layoffs At Cabela’s
In a letter to Cabela’s employees, Bass Pro Shops CEO Johnny Morris wrote that Cabela’s sales have been underperforming over the last few years and the overall company has been “under the weight of an extremely heavy corporate payroll.” The document also revealed a few details of the transition process as a result of the Bass Pro/Cabela’s merger.
Mastercard SpendingPulse: Retail Sales Grew 4.9 Percent This Holiday Season
Mastercard SpendingPulse reported that holiday sales increased 4.9 percent this year, setting a new record for dollars spent. The gain marked the largest year-over-year increase since 2011. Online shopping also saw large gains of 18.1 percent compared to 2016, boosted by a late season rally.
Bass Pro Details Some Merger Transition Details
In an 11-page document to Cabela’s employees in Sidney, NE, Bass Pro Shops CEO Johnny Morris said Bass Pro is continuing to work on evaluating which jobs will stay in Sidney. But Bass Pro indicated Cabela’s information technology division, credit card operation and a “significant” portion of Cabela’s accounting department will remain in Nebraska.
Aisle Talk, Week Of December 18
Top headlines from the active lifestyle industry you may have missed this week.
L.L.Bean Explores Blockchain Applications For Outerwear With LOOMIA Smart Textiles
The companies will explore how data from LOOMIA-enabled L.L. Bean apparel can assess the extended use and performance of the outdoor retailer’s products, and provide valuable insight on the use rate of products returned under L.L.Bean’s 100% satisfaction guarantee.
Sig Sauer Partners With Nine Line Apparel
Veteran owned Nine Line Apparel announced a partnership with firearms manufacturer Sig Sauer on a Sig Hauer apparel collection.
Sports Direct’s U.S. Operations Lands In Red In First Half
Sports Direct reported underlying EBITDA in its U.S. Retail segment, including Eastern Mountain Sports and Bob’s Stores, showed a loss of £23 million due in large part to impairment charges.
Aisle Talk, Week Of December 11
Top headlines from the active lifestyle industry you may have missed this week.
Stifel Nicolaus Upgrades Under Armour And Crocs
Stifel Nicolaus upgraded Under Armour and Crocs to “Buy,” lowered Fitbit to “Sell” and lifted it price target on Nike.
Sporting Goods Stores Sales Rebound in November
Retail sales in November increased 0.9 percent over October on a seasonally adjusted basis and were up 6 percent year-over-year unadjusted, according to calculations released by the National Retail Federation.
Morgan Stanley Raises Price Target On Dick’s Sporting Goods
Morgan Stanley raised its price target on Dick’s Sporting Goods to $30 from $28, believing the “company and stock are at a pivotal moment.”
West Marine Announces BlueFuture Grant Recipients
Unrestricted support in the amount of $1,500 will be provided to the winners, all community-based organizations that are dedicated to getting young people on and around the water in recreational and educational capacities.
RECALL: Ravin Crossbows
About 220,000 arrow nocks from Ravin Crossbows are being recalled.
First Gander Outdoors To Open In Minnesota
The first Gander Outdoors store will open on December 13 on Lakeville, MN, the retailer said on its Facebook page.
L.L. Bean Chairman Joins UNH Foundation
Shawn Gorman ’89 — who is only the third chairman in L.L. Bean’s century-plus history — is now the newest member of the UNH (University of New Hampshire) Foundation’s board of directors.
