SGB Sportsmans

Holiday Selling Starts Off With A Bang

According to reports from the National Retail Federation (NRF), Adobe and ComScore, sales surged ahead from Thanksgiving through Cyber Monday, providing a heap of  optimism for the rest of the holiday selling season. Not surprisingly, online purchases again strongly led the gains and smartphones expanded as a key driver of transactions.

NRF Finds Robust Holiday Start

From Thanksgiving Day through Cyber Monday, more than 174 million Americans shopped in stores and online during the just-concluded holiday weekend, beating the 164 million estimated shoppers from an earlier survey by the National Retail Federation and Prosper Insights & Analytics.

Moody’s Reduces Remington Outdoor’s Debt Grade

Moody’s Investors Service downgraded Remington Outdoor Company, Inc.’s Corporate Family Rating to Caa1 from B2 due to its weak operating performance and credit metrics, including high leverage. The downgrade also reflects Moody’s expectation that Remington’s operating performance will not meaningfully improve in the next year or two.

Maurice Sporting Goods’ Trip To Bankruptcy Court

In court papers, Maurice Sporting Goods blamed challenges consolidating its U.S. distribution centers, debt taken on from recent acquisitions and the spate of bankruptcies in the sporting goods industry as the reasons for its bankruptcy filing.

Maurice Sporting Goods Files For Bankruptcy, Pursues Sale

Maurice Sporting Goods Inc., one of North America’s largest distributors of outdoor sporting goods, announced that it has reached a definitive agreement to sell its assets to Middleton Partners. To facilitate the transaction, Maurice and its subsidiaries today filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.

Wall Street Reacts: Dicks Q3

For the analyst community, Dick’s issuance of a poor outlook for 2018 indicates that the industry’s return to healthy, full-price selling will take longer than expected.