SGB Update

Saks Hires Financial Advisors

Saks Global Enterprises has hired PJT Partners, Kirkland & Ellis and Bank of America Corp. to help it explore ways to raise new financing alongside the asset-based loan it is pursuing, according to Bloomberg.

Academy Sports’ Board Member Resigns

Academy Sports and Outdoors, Inc. reported in a regulatory filing that Scott Boatwright, an independent member of its board, has resigned as a director of the company. In connection with Boatwright’s resignation, the retailer reduced the size of the company’s board from eleven to ten directors.

Solo Brands’ Q1 Sales Slide 9.5 Percent On Solo Stove’s Restructuring

Solo Brands Inc’s. sales declined 9.5 percent in the first quarter ended March 31 as Solo Stove’s revenues tumbled 49 percent, as planned, due to efforts to reduce discounting and promotion in its DTC channel. The company showed a loss in the period and reiterated its going concern warning. 

On Holding’s Q1 Sales Top Expectations, Trims FY Profits Guidance

On Holding AG raised its revenue guidance for the year, now expecting least 28 percent growth on a constant-currency basis, as first-quarter sales exceeded plan. However, the Swiss running brand slightly lowered its earnings expectations as tariffs have introduced higher levels of planning uncertainty.

Daniel Defense Names Executive Director of Double D Foundation

The company said the Double D Foundation has “already made a powerful impact in Georgia and South Carolina by funding youth shooting sports teams, equipment and training, helping develop a culture of skill, responsibility and patriotism.”

Import Cargo Levels Expected to See First Year-Over-Year Drop Since 2023

Import cargo at the nation’s major container ports is expected to see its first year-over-year decline in over a year and a half this month as the effect of tariffs imposed by the administration on the supply chain increases, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.

Malibu Boats Sees Fiscal Q3 Sales Climb 12 Percent

Gains in the company’s Malibu segment offset declines in the Saltwater Fishing and Cobalt segments. The boat maker slightly lowered its guidance for the year due to softer retail trends and ongoing market uncertainty.

Kinsey’s Hires Software Engineer

Alyssa Zevallos, a 10-year industry veteran, has strong skill sets in digital engineering. She began her role at Kinsey’s on May 7 with a programming and software integration background.