SGB Update Outdoor
Big 5 Sporting Goods Sees Q3 Profits Miss Plan, Warns on Weak Holiday Quarter
Big 5 Sporting Goods Corp. reported earnings were slightly below guidance in the second quarter ended October 1 as same-store sales dropped 8.2 percent on weak discretionary spending. The California-based chain further predicted same-store sales in the fourth quarter will decline in the high single-digit to low double-digit range.
Former Academy Sports CEO Joins Guitar Center as Chairman
Guitar Center Holdings, Inc. appointed Ken Hicks, executive chairman of Academy Sports and Outdoors and former CEO, as Board Chair. Guitar Center also named Gabriel Dalporto its new CEO and rehired Tim Martin as CFO.
Canadian Tire Exploring Alternatives for Financial Services Business
Canadian Tire Corp. said it bought back Scotiabank’s 20 percent stake in its financial services arm in a cash transaction valued at C$895 million ($647.14 mm) and is reviewing alternatives for its financial services arm. The moves were made in part to better support its loyalty program.
The Conservation Alliance Appoints Interim Executive Director
The Conservation Alliance appointed active outdoor industry veteran Joe Craig as interim executive director. He previously served on the Conservation Board of Directors from 2015 to 2022.
Newport Vessels Appoints New Head of Product Development
Newport Vessels, a clean electric technology brand in the boating and angling industry, hired Jason Kardas as head of product development. Kardas had previously worked for Hobie for over 23 years.
Acme Tackle Expands Portfolio with Moonshine Lures Acquisition
Acme Tackle Company, made by Hard and Soft Fishing and the makers of Acme, Kalin’s, Beaver Dam, Reef Runner, Uncle Josh, Atom and Bead, acquired Moonshine Lures, LLC of Perkins, MI.
REI’s Unionized Stores Face Worker Protests Over Weekend
REI workers held coordinated actions at eight unionized stores this past weekend with the union indicating the actions were in response to the retailer’s decision to restructure jobs and working conditions in all of its stores.
Walmart Celebrates “Re-Grand Opening” of 117 Remodeled U.S. Stores
The re-grand opening project represents over a half a billion dollars in capital investments in local communities across 30 states.
QBP Drops DeFeet from Brand Stable; Sock Brand Will Not Add Reps
DeFeet is now entirely in-house with its sales team, employing no independent sales rep. The company distributes in-line products in the U.S. through its remaining domestic distribution partners and its DeFeet B2B platform.
Rugged Road Retains Outtech Sales Services
Rugged Road, makers of coolers and related accessories based in Aurora, OH, hired Outtech Sales Services to represent the brand nationwide.
Report: Decathlon Explores Sales of Minority Stake in China Business
Decathlon SA is working with advisors to explore the sale of a minority stake in its China business, sources told Bloomberg. The report indicated that the French retailer seeks a strategic partner to drive regional expansion.
VF Corp. Sees Continued Americas Weakness In U.S. in Q2 Tied to Vans Declines
The company also said that Kevin Bailey will be stepping down from his role as global brand president, Vans. He will remain on the Executive Leadership Team reporting to the CEO and will transition to lead Reinvent, the company’s business transformation plan. CEO Bracken Darrell will be more involved with Vans until a new brand president is found.
REI to Open in Beavercreek, OH
REI reported it will open a retail store in Beavercreek, OH, in spring 2024. The 23,000-square-foot space will operate in the Beavercreek Shopping Center at 2650 N Fairfield Road.
Garmin Distributor for India Expands Category Representation
Under the new agreement, Amit India will add Garmin fitness, outdoor recreation and consumer automotive products to its existing lineup of Garmin marine products that it began distributing in 2017.
PedalCell to Cease Operations
PedalCell, a manufacturer of weather-proof generators for power bikes, announced it will cease operations on January 1.
