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.
Kohl’s Proposes Private Offering Of Senior Notes
Kohl’s Corp. launched a private offering of approximately $360 million aggregate principal amount of senior secured notes due 2030.
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.
Former Pelican International Execs Acquire and Merge Pelican and Confluence
The transaction was led by former Pelican President and CEO Danick Lavoie, along with former executives Frederic Guay and Guy Prenevost, and supported by a diverse and experienced group of private investors. The deal excludes GSI Outdoors.
Under Armour Fiscal Q4 Revenues Slump 11 Percent; Expects MSD Decline In Q1
Under Armour, Inc.’s revenues declined 11 percent in the fourth quarter and 9 percent in the fiscal year ended March 31, but both sales and adjusted earnings topped guidance. The company expects revenue in its first quarter to slide in the range of 4 to 5 percent.
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.
GoPro, Inc. Sees Q1 Revenues Decline DD as Company Looks to Services for Upside
Subscription and service revenue increased 4 percent year-over-year to $27 million, primarily due to 5 percent ARPU growth from improving retention rates. GoPro.com revenue, including subscription and service revenue, was down 18 percent year-over-year.
Callaway Golf Sees Golf Equipment as Least Weakest Link in Company’s Q1 Results
Topgolf segment revenue decreased $29.1 million to $393.7 million, with a decline in same-venue sales offsetting revenue from new venues. Same-venue sales declined 12 percent, in line with expectations.
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.”
Federal Ammunition Wins Ammo Contract for Canada Law Enforcement Entities
Owned by the Czechoslovak Group (CSG), Federal Ammunition was recently awarded contracts to supply several Canadian law enforcement organizations with handguns and rifle ammunition for training and duty purposes.
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.
Recall Expansion: Igloo 90-Quart Flip & Tow Rolling Cooler
This recall expansion involves an additional 130,000 Igloo 90 Quart Flip & Tow Rolling Coolers manufactured before January 2024.
