SGB Update Outdoor
West Marine Inks Agreement with Lenders
The transaction will provide West Marine with liquidity and significantly reduce total debt to strengthen the company’s balance sheet and financial profile. The agreement was supported by 100 percent of the holders of the company’s funded debt obligations and West Marine’s current principal equity holder, L Catterton.
Lands’ End Names CFO
Lands’ End, Inc. announced that Bernard McCracken, the company’s interim CFO since January 2023 and chief accounting officer since April 2014, was named chief financial officer.
Dick’s Sporting Goods Appoints BJ’s Chairman to Board of Directors
New director Bob Eddy has served as president and CEO of BJ’s since April 2021. He was appointed chairman in June 2023 and has served on the company’s Board of Directors since 2021. Dick’s Sporting Goods Board expanded to 12 directors.
Fjällräven Opens First Retail Store in Montana
Fjällräven expanded its global retail footprint with a new brand store in Bozeman, MT, its first in the state, that opened on September 2.
Lectric Recalls Electric Bike Company’s Mechanical Brakes
Lectric eBikes is contacting consumers about the mechanical disk brake calipers which could cause riders to lose control and lead to injury, according to the U.S. Consumer Product Safety Commission.
POC Appoints Cycling Industry Vet as New CEO
POC, based in Sweden, has appointed Derek Bouchard-Hall as CEO. Before joining the helmets, eyewear, protection, and apparel manufacturer, Bouchard-Hall was CEO of Assos, president and CEO of USA Cycling and the director of International at Wiggle.
The James Brand Appoints Director of Marketing and Sales
Dustin Aron will manage strategy and implementation to increase consumer awareness and engagement, execute expanded wholesale & retail objectives with the global sales team, and support the overall growth strategy of the brand.
SRAM Makes Two Key VP Appointments
Chicago-based bicycle parts manufacturer SRAM promoted Lisa Peppel from quality engineering manager to VP of quality, replacing Otis Hayes, who has led the department since 2016. SRAM also promoted Joe Chung to VP of its IT department.
Report: August Mall Foot Traffic Decline Data May Have Some Positives
Placer.ai said in its August 2023 Mall Index report that while MoM visits fell for the month, other foot traffic metrics painted a rosier picture for the period when delving deeper into the location analytics.
AlixPartners: Holiday Retail May Be A Tale of Two Cities Again this Year
The consulting firm’s Holiday Outlook Survey of more than 1,000 American consumers found that 26 percent of consumers plan on spending less this holiday season with 38 percent of households with incomes under $45K planning to spend less.
West Marine Reaches Restructuring Deal to Avoid Court Proceedings
West Marine agreed to restructure roughly $800 million of the company’s debt out of court proceedings with the assistance of L Catterton, its private-equity owner. L Catterton will retain control of the business.
Grundéns Hires New CEO from Rapala
The producer of fishing apparel and footwear hired Nicolas Cederström Warchalowski as chief executive officer. Most recently, Warchalowski was the CEO of Rapala, the sport fishing company.
Phantom Glide Hires National Sales and Tech Rep
Justin Greenbaum, who brings sales and tuning experience to the team, will focus on “expanding Phantom Glide into new markets and growing partnerships across the ski and snowboard industry.”
Cascade Designs Names New VP of Human Resources
The company hired Minor Harris as VP of human resources, working from the company’s Reno, NV office. Harris will oversee all facets of HR to “ensure that the right people are in place” to develop, design and manufacture the company’s recreational product lines.
Summer Occupancy at Western Mountain Destinations Running Down
After a strong winter season and with two months to go, summer bookings and occupancy at Western Mountain destinations the summer of 2023 will likely finish down slightly from last year, but will still come very close to meeting the revenue record set last summer, according to most recent monthly Market Briefing released by DestiMetrics.
