SGB Update Outdoor

Outdoor Industry Icon, Norm Cavallaro, Passes Away

Outdoor Industry icon Norm Cavallaro passed away on March 18 at 75 surrounded by his family. He was beloved in the industry as the founder and CEO of North Cove Outfitters and was a member of the OIA board. He also served as a brand ambassador for Swarovski Optik, reflecting his passion for birding.

Walmart Laying Off Thousands Of Warehouse Employees

Walmart is laying off hundreds of employees at its e-commerce fulfillment centers nationwide. The company said it made the cuts “to better prepare for the future needs of customers.”

Kitsbow Cycling Apparel To Close

Kitsbow, the manufacturer of cycling apparel and accessories based in Old Fort, NC, is closing after being unsuccessful in securing funding, CEO David Bilstrom said in a post on Kitsbow.com.

Winnebago’s Q2 Revenues Decline 26 Percent As RV Demand Crashes

Winnebago Industries Inc. reported profits were down 42.1 percent in the fiscal second quarter ended February 25 as sales retreated 25.6 percent. Sales of of towables tumbled 47.0 percent due to softening RV demand following peak selling in the earlier stages of the pandemic.

Newell Brands Debt Ratings Downgraded

S&P Global Ratings lowered its debt ratings on Newell Brands Inc. as the company’s earnings and cash flow guidance for fiscal year 2023 has come in significantly weaker than previous expectations because of weak macroeconomic conditions and continued inflationary pressures.