Happy Holidays From SGB Media
In observance of the Christmas holiday, SGB Media is taking time to be with family and will not publish the SGB Updates on December 25. Publishing will resume on December 26 with one Update newsletter daily through December 29.
American Outdoor Brands Names Chief Product Officer
The company promoted James Tayon to chief product officer. Tayon will continue to lead the company’s strategic product direction, including product innovation, design, development, and marketing.
Yeti Expands Board of Directors with Two New Additions
Rob Katz has acted as the executive chairperson of the Board at Vail Resorts, Inc. since 2021 after serving as CEO from 2006 to 2021. Beth Axelrod reportedly brings over 20 years of strategic human resources leadership and management development expertise to the Yeti Board.
Watershed Drybags Introduces New Material and Colors For 2024
Watershed Drybags introduced a new material, Kryptothane Plus, on all its recreational drybags and three new colors—safety orange, royal purple and smoke green.
Compass Diversified Receives $75.2 Million Equity Investment
The owner of Velocity Outdoor, BOA, Primaloft, 5.11, and other active lifestyle brands, reported that it had completed a private placement of approximately 3.6 million of its common shares to a mutual fund managed by Allspring Global Investments to raise $75.2 million.
U.S. Consumer Confidence Rises to 5-Month High in December
The Conference Board reported that its Consumer Confidence Index rose to 110.7 million in December, up from a downwardly revised 101.0 in November in an indication that concerns about a recession in the U.S. are lessening. The Index improved for the third consecutive month, reaching its highest level since July.
Winnebago May See Tough Year Ahead as Fiscal Q1 Backlogs Fall 54 Percent
A 20 percent decline in revenues for the fiscal first quarter ended November 25 was said to be primarily driven by lower unit sales related to market conditions, product mix, and higher discounts and allowances compared to the prior-year quarter, partially offset by carryover price increases related to higher motorized chassis costs.
PrimaLoft Promotes Cavassa to CEO, Joyce to Retire
Compass Diversified appointed Anne Cavassa as CEO of its subsidiary, PrimaLoft Inc., effective January 1, 2024. This move follows Cavassa’s recent appointment as president and as former president and CEO, Mike Joyce, steps into retirement at year end.
Study: Retailers See Big Online Sales Declines After Closing Brick & Mortar
ICSC found that closing a store reduced online sales in the trade area surrounding that store by 11.5 percent. For emerging retailers, there was reportedly less of an impact, as online sales for largely DTC brands that closed a store decreased by 5.2 percent.
Pursuit Energy Forms Licensing Partnership with Prym1 Camo
Pursuit Energy, the maker of energy drinks, coffees and jerkies for the hunting enthusiast, entered into a licensing agreement with Prym1 Camo, a maker of camouflage patterns.
IKamper Bolsters U.S. Team with Three New Hires
The manufacturer of rooftop tents and gear expanded its U.S. team by adding Callie Pople, Kara Thrift and Matthew Kim.
GSM Outdoors Acquires Phenix Rods
GSM Outdoors reported it acquired Phenix Rods, marking the company’s entry into the fishing rod space.
Study: The Retailers Getting the Most Online Benefit from New Stores
According to the analysis of the ICSC’s survey of 850 shoppers, department stores had a 50.6 percent increase in online spending, followed by apparel retailers with an 11.6 percent increase in e-commerce sales.
Alpha Silencer Appoints New VP of Sales
Cody Bennion is expected to aggressively grow market share, revenue, distribution channels, and dealer satisfaction for the company’s titanium suppressors
Savage Arms Appoints New CEO as Al Kaspar Retires
Al Kasper, who has led the company for over a decade, will retire December 31, 2023. Chris Bezzina will take over as president and CEO effective December 31, 2023. Bezzina joined Savage in 2007.
