EXEC: Wrapping Up the Less-Than-Jolly Holiday Forecasts For Retail
Holiday forecasts arriving in recent weeks roundly forecast sales will slow this year versus pandemic stimulus-boosted gains in recent years. However, while many expect a “resilient” consumer will drive solid gains similar to pre-pandemic levels, some see inflationary and macroeconomic concerns weighing disproportionately on discretionary spending.
October U.S. Employment Numbers Fall Short of Expectations
Many noted that the 150,000 increase in jobs and the 3.9 percent unemployment rate were in line with the pre-pandemic employment picture and some wondered if maybe, just maybe, the market was getting back to normal.
Report: Foot Traffic Data Sees Possible Boost for Sporting Goods Retail for Black Friday
Year-over-year visit gaps at Recreational & Sporting Goods chains, Electronics Stores and Department Stores widened significantly since the end of August, but more recent data looks a little more promising, with all three categories now seeing their visit gaps begin to shrink.
EXEC: BOA, Primaloft and Velocity Outdoor Drag on Parent’s Q3 Results
Brand aggregator Compass Diversified saw Q3 sales decline 25 percent at BOA, 16 percent at Primaloft and fall 28 percent at Velocity Outdoor, while revenues grew 13 percent at Marucci Sports and 7 percent at 5.11. The company reported it was selling Marucci.
Lazydays Swings to Net Loss in Q3 on Mid-Teens Revenue Decline
The chain of RV dealerships posted a net loss was $5.6 million in Q3, compared to net income of $7.7 million for the corresponding period in 2022 as third quarter revenue decreased 15.9 percent year-over-year to $280.7 million.
EXEC: Boot Barn Cuts Q3 and Full Year Outlook as Retail Turns Sour
Fiscal Q2 retail store same-store sales declined 3.8 percent and e-commerce same-store sales declined 11.7 percent year-over-year. Comps were said to be in line with expectations through August, but September experienced softer-than-expected results and that trend reportedly continued into October.
NSSF: October Adjusted NICS Background Checks Sees Rebound
The National Shooting Sports Foundation (NSSF) reported that the October 2023 NSSF-adjusted National Instant Criminal Background Check System (NICS) number increased by 8.2 percent, rebounding after five months of declines.
Compass Diversified Posts Flattish Q3, Sells Marucci Sports
Owner of Velocity Outdoor, BOA, Marucci, Primaloft, 5.11, and other businesses in the active lifestyle space, reported that third quarter net sales were $569.6 million, down 1 percent compared to $575.8 million in the third quarter of 2022.
EXEC: Vista Fine-Tunes New Structure, Leadership for Revelyst and Ammo Company
Vista Outdoor took the opportunity Thursday morning to update the market on the progress and process of the sale of the ammo segment and provide an opportunity for the new leadership of the two businesses to walk through the latest quarter.
Anglers All Fly Shop & Boathouse to Open in Denver Early 2024
The Denver shop will add to the Anglers All brand based in Littleton, CO, where the original fly shop is, along with the newly opened Boathouse.
NRF Sees 3 to 4 Percent Growth in Holiday Spending
The National Retail Federation (NRF) delivered its annual holiday forecast, predicting sales during November and December will be between 3 percent and 4 percent higher over 2022, similar to pre-pandemic levels.
GSM Outdoors Expands Brand Stable with Camillus, Cuda Acquisitions
GSM Outdoors acquired Camillus Cutlery, founded in 1876, one of the oldest knife manufacturers in the United States, and announced the acquisition of the Cuda fishing tools brand.
Sturm Ruger’s Q3 Sales Decline 13 Percent
Sturm, Ruger & Company, Inc.’s sales declined 13.3 percent in the third quarter, to $120.9 million from $139.4 million a year ago. Earnings fell 40.4 percent to $7.43 million, or 42 cents a share, from $18.4 million, or $2.13, a year ago.
Camping World Q3 Profit Falls 70 Percent as Inventory Cleared
As the procurement prices of model year 2024 new vehicles declined compared to model years 2022 and 2023, the company actively discounted certain used vehicles in Q3 to reduce inventory levels of aged used vehicles.
Vista Outdoor’s Revenues Decline 13 Percent in Fiscal Second Quarter
Vista Outdoor, Inc. reported sales dropped 13 percent in the fiscal second quarter ended September 24 with declines of 19 percent in its Sporting Products segment and 6 percent in its Outdoor Products segment. Earnings and sales results were in line with updated guidance given on October 16.
