Sig Sauer Inks JV Deal with Indian Defense Plant to Support India’s Military Needs
The company has entered into a joint venture with Nibe Defence and Aerospace Limited to advance small arms and ammunition manufacturing operations in India. The Government of India, Ministry of Defence first awarded Sig Sauer a contract for the SIG716 in 2019 for 72,400 rifles.
Kinsey’s, Inc. Fills Two Open Buyer Positions
New buyers include Louie DuChene and London Sasse, both with prior industry experience. They are said to be filling necessary buyer roles in the company.
BJ’s Wholesale Club Promotes Two Senior Operations Leaders
Scott Schmadeke, SVP, field and fresh operations, has been named EVP and chief operations officer, effective immediately, and Krystyna Kostka, SVP of operations, has been named chief supply chain officer.
L.L.Bean to Open First Indiana Store
The 16,000-square-foot L.L. Bean store will be the retailer’s fourth new location to open in 2024, giving it 61 stores in the U.S.
NRF: Import Cargo Could See Surge Ahead of Potential Port Strike and Trump Tariffs
Import volumes at the nation’s major container ports could be higher than previously expected for the remainder of this year as retailers face another potential East Coast/Gulf Coast port strike and tariff increases planned by President-elect Donald Trump, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Schoeller to Close Swiss Manufacturing Plant, 170 Employees To Lose Jobs
The company cited Switzerland’s high labor and energy costs, the strong Swiss franc, and poor market environment since the pandemic to cover production costs. However, the company will continue production of its high-tech textiles in Asia with no disruption.
Black Diamond Parent Q3 Hurt by Outdoor Channels, Product Line Simplification Strategy
Outdoor segment (Black Diamond) sales were $49.3 million in the third quarter, compared to $61.1 million in the year-ago quarter. Sales in the Adventure segment (Rhino-Rack, Maxtrax and Tred Outdoors) decreased 11.9 percent to $17.8 million.
NRF: Holiday Spending on Track for Steady Growth Amid ‘Mixed Signals’ on Economic Data
NRF Chief Economist, Jack Kleinhenz, reported in the November Issue of the NRF’s Monthly Economic Review, that it continues to expect steady sales growth for the winter holiday season despite contradictions in the latest economic indicators.
EXEC: Yeti Tops Q3 Targets, Accelerates Sourcing Shift Out of China
Yeti, Inc.’s third-quarter results topped analyst targets, boosted by newer categories, including bags, barware, and cookware. Matt Reintjes, president and CEO, said on an analyst call that the company’s efforts to diversify its supply chain continue to have half of the brand’s drinkware production sourced outside of China by 2025.
EXEC: Under Armour Shares Pop on Strong Q2 Earnings Beat
Shares of Under Armour surged 27 percent on Thursday after the company reported operating earnings topped guidance by $50 million due to efforts to reduce promotions at its DTC channels, particularly online. Under Armour President and CEO Kevin Plank expressed confidence that initiatives to elevate product and storytelling will drive a return to growth.
Lancer Systems Adds New Sales & Marketing Manager
Molly Teutimez joins Lancer with over ten years of experience in sales management, marketing and operational sales, most recently having worked for American Outdoor Brands.
EXEC: SportChek’s Q3 Retail Sales Grow and Helly Hansen Declines for Parent Canadian Tire
SportChek retail sales increased 2.0 percent year-over-year and comparable sales were up 2.9 percent for the quarter, marking two consecutive quarters in which SportChek outperformed industry trends.
Merrell and Saucony Post Above-Plan Q3 Sales; Parent Lifts FY Guidance
Wolverine World Wide, Inc. raised its revenue and earnings guidance for the year after sales in the third quarter, which exceeded company expectations, driven by above-plan performances from Merrell and Saucony. Gross margins expanded 450 basis points on significantly lower inventory levels.
Vista Outdoor’s Q2 Sales Slide 1.6 Percent as Ammo Growth Offsets Outdoor Declines
Vista Outdoor Inc. reported sales declined 1.6 percent in the fiscal second quarter ended September 30 as sales declined 3.9 percent at its Revelyst outdoor products segment and inched up 0.5 percent at Kinetic Group. Results were in line with expectations with Revelyst exceeding plan. Vista’s board again unanimously recommended shareholders vote for a deal to sell Kinetic Group with Czechoslovak Group (CSG).
Traeger, Inc. Halves Q3 Adjusted Net Loss on Strong Grills Revenue Growth
North America revenue increased 10.4 percent year-over-year in the third quarter. Rest of World revenues decreased 40.1 percent in the third quarter compared to the prior-year third quarter.
