EXEC: Eddie Bauer’s CEO Discusses Modernized Rebrand
Eddie Bauer introduced a new brand evolution and redesigned its logo in September, including bringing back “the goose.” Tim Bantle, Eddie Bauer’s CEO, talked with SGB Executive about the refreshed look of the 103-year-old brand, re-embracing its outdoor roots and its heightened focus on wholesale.
VF, Vista Outdoor, Wolverine Worldwide Top Most-Read SGB Articles for November
November 2023 featured to usual articles for the start of the holiday shopping season and the end of the retail fiscal quarter, but it was a dramatic job cutting announcement from VF Corporation, parent of The North Face, Vans, Timberland, Dickies and Jansport that got the most attention over the 30-day period.
Consumer Confidence Rebounds in November
U.S. consumer confidence rose in November after three straight monthly declines, with U.S. consumers planning big-ticket purchases, including motor vehicles and houses, over the next six months despite higher prices and interest rates.
Vista Outdoor Appoints Co-CEOs Ahead of Split
As part of the previously announced plan to sell its ammo business to Czechoslovak Group and change the company’s name to Revelyst, Vista Outdoor, Inc. named Eric Nyman and Jason Vanderbrink as co-chief executive officers in a regulatory filing.
Bigshot Archery Acquires Delta McKenzie Targets
Targets will continue to be sold and marketed under the Bigshot and Delta McKenzie brand names and Bigshot will continue to be represented by MWS Associates while Delta McKenzie will continue to be represented by Summit Outdoor Sales.
Newell Brands Adds New Board Member
Effective January 1, 2024, Anthony Terry, recently retired executive vice president and chief financial officer of Marriott Vacations Worldwide Corp., will serve on the company’s Board of Directors.
ICSC Releases Post-Thanksgiving Weekend Survey Results
The International Council of Shopping Centers (ICSC) reported the results of its post-Thanksgiving weekend survey*, which showed that over half of respondents (56 percent) noted that they shopped just as much or more than in the past, an increase of 6 percent from its 2022 survey.
5.11 Tactical to Transition Senior Leadership
Francisco J. Morales, co-founder and former CEO will be promoted to executive chair of the Board of Directors, while 5.11 Board member Troy R. Brown will become CEO, effective January 1, 2024.
American Outdoor Brands Sales Grow Mid-Singles in Fiscal Q2
Second quarter earnings per share was down by two-thirds despite a 6.2 percent increase in sales. The shooting sports category saw a slight decline in net sales by that decline was offset by growth in the outdoor lifestyle category.
EXEC: Academy Sports Sees Weather/Consumer Woes Derailing Sales Recovery
Academy Sports and Outdoors, Inc. said a slow start to fall selling due to warmer temperatures as well as continued weak consumer demand caused third-quarter results to miss plan, resulting in a downward revision to full-year guidance. CEO Steve Lawrence said on an analysts call, “We feel like we don’t have a challenged strategy. We’ve got a challenged customer.”
Ski-Doo Parent Company Reports Q3 Lift from N.A. Snowmobile Sales
BRP Inc.’s North American Powersports Products retail sales were flat year-over-year for the third quarter, reportedly driven by the strong retail sales of Snowmobiles offsetting declines elsewhere. North American retail sales for Marine Products decreased 30 percent.
Sam’s Club to Open Two New Midwest Distribution Centers
The Walmart Inc.’s warehouse club division plans to open two new distribution centers in early 2024 outside St. Louis and Minneapolis.
Academy Sports Trims Guidance on Q3 Shortfall
The retailer narrowed its full-year guidance to the lower end of prior expectations as third-quarter sales and earnings arrived below expectations. The retailer blamed generally soft consumer spending and warm weather’s impact on fall selling.
Duluth Trading Posts Wider Fiscal Q3 Loss as Sales Decline
The retailer posted a net loss of $10.5 million, or a loss of 32 cents per diluted share, in the quarter, compared to a loss of $6.2 million, or a loss of 19 cents per diluted share, in the year-ago quarter. Net sales decreased 6.1 percent to $138.2 million.
Vista Outdoor Rejects Buyout Proposal from Colt CZ
Vista Outdoor, Inc. said late Wednesday that following consultation with its financial and legal advisors, its board of directors had rejected the unsolicited proposal received from Colt CZ Group SE to acquire the company.
