SGB Update Outdoor
Stio Hires Seven Regional Sales Agencies; Costigan Named NSM Wholesale
The outdoor lifestyle brand based in Jackson, Wyoming appointed seven regional sales agencies across the U.S. to better support its wholesale partners. In conjunction with the expanded wholesale strategy, Stio also promoted Kevin Costigan to national sales manager of wholesale.
Boot Barn’s Q4 Sales Jump 18 Percent
Boot Barn Holdings, Inc. reported earnings in the fiscal fourth quarter ended March 28 grew 18.4 percent as sales grew 18.7 percent, with same-store sales up 6.1 percent. Earnings came in at the high end of company guidance and the western retailer predicted growth in the range of 14 percent to 16 percent for the current fiscal year.
Solo Brands’ Q1 Sales Slump 19 Percent
The parent of Solo Stove, Chubbies, Isle and Oru delivered positive EBITDA in the first quarter as a result of cost-cutting efforts, but sales fell 18.6 percent, with a decline of 38.7 percent at its Solo Stove brand and 14.1 percent at its Chubbies apparel business. The company reaffirmed guidance for the year.
Yeti Raises FY Outlook as Q1 Tops Targets, Wholesale Sales Jump 19 Percent
Sales in the quarter totaled $380.4 million versus Wall Street’s consensus of $374.8 million. Adjusted EPS of 26 cents a share topped the consensus of 19 cents.
NRF: Retail Sales Climb In April Despite Inflation Pressures
Retail sales rose slightly for the seventh consecutive month in April despite rising gas prices and stubborn inflation, according to the CNBC/NRF Retail Monitor. Sales were up 5.73 percent unadjusted year over year in April, including growth of 8.55 percent in the sporting goods, hobby, music and book stores channel category.
Benchmade Adds James Brand Founder Ryan Coulter to Product Team
Benchmade has named Ryan Coulter, founder of The James Brand, as VP of product. Coulter will oversee product strategy, innovation, roadmap development, customer insights and cross-functional alignment across product, sales, marketing and manufacturing.
GoPro, Inc. Retains Houlihan Lokey to Pursue Strategic Alternatives, Including Sale
The global investment bank with strong ties into defense and consumer sectors is expected to serve as its financial advisor as the company evaluates a potential sale and other strategic alternatives.
La Sportiva Appoints New Reps for Southwest Region
La Sportiva welcomed Coldstream Sales, led Adam Selby, as its new sales representative in the Southwest.
Bogner Appoints Arne Freundt as CEO
German luxury apparel and skiwear brand Bogner has appointed Arne Freundt, former CEO at Puma, as its new chief executive officer, effective June 1. The appointment follows the acquisition last September of a 60 percent stake in Bogner by Katjes Quiet Luxury GmbH, the investment subsidiary of German-based Katjes International GmbH & Co.
FDRA: Footwear Inflation Accelerates Further in April
U.S. Retail footwear prices rose 4.2 percent year over year (YoY) in April, accelerating from a spike of 2.4 percent seen in March, according to the latest data from the Footwear Distributors and Retailers of America (FDRA).
GoPro is Latest to Explore Strategic Alternatives, Sees Q1 Top-Line Fall 26 Percent
The review announced Monday follows GoPro’s recent engagement of Oliver Wyman, a global leader in defense‑sector consulting, to support the company’s expansion into the defense and aerospace markets. Since that engagement, Go Pro said it has received several unsolicited inbound strategic inquiries.
Titanium Bike Brand Lynskey Files for Bankruptcy
U.S titanium bike brand Lynskey Performance Products filed for bankruptcy protection with a plan to restructure its debts and stabilize the business under court supervision. Unsecured creditors in the case included major cycling component companies such as FSA (Full Speed Ahead), owed $162,000; and SRAM, $108,000
OR and Surf Expo Owner Sold to Apollo Funds, Will Merge with Questex in Go-Private Deal
Apollo appears to have bigger plans for Emerald as the company entered into separate definitive agreements to acquire Emerald along with Questex, LLC with the intention to combine the businesses and create a leading North American B2B experiential events and media platform, in an all-cash transaction.
Costco’s April Comps Climb 11.6 Percent, Digital-Enabled Sales Gain 18.8 Percent
Costco Wholesale Corp. reported sales of $23.92 billion for the month of April, up 13.0 percent from $21.18 billion last year. For the first 35 weeks, sales were $197.18 billion, an increase of 9.5 percent.
NRF: Import Volumes Face Early-Fall Slide on Cautious Orders
Import volume at major U.S. container ports is expected to remain below last year’s levels into early fall despite a skewed year-over-year bump in May and June, according to the Global Port Tracker report from the National Retail Federation and Hackett Associates.
