SGB Update Outdoor
NRF Reports GDP Growth Has Slowed But Consumer Spending Remains Strong
The National Retail Federation’s (NRF) Chief Economist, Jack Kleinhenz, reported that the GDP is not likely to grow as much in the final months of 2022 as it did in the third quarter, but consumer spending should remain strong even though the rapid pace continues to slow.
American Outdoor Brands’ Sales Drop In Second Quarter
American Outdoor Brands, Inc. reported earnings on an adjusted basis fell 51.8 percent in its fiscal second quarter ended October 31 as sales decreased 23.1 percent.
Sturm Ruger Declares Special Dividend
Sturm Ruger & Company, Inc. announced that its Board of Directors declared a special dividend of $5.00 per share for stockholders of record as of December 15, 2022, payable on January 5, 2023.
Duluth Reduces FY Guidance On Inflationary Pressures
Duluth Holdings, Inc, the parent of Duluth Trading, reported a steeper loss than expected in the third quarter ended October 30 and reduced its guidance for the year as markdowns were used to clear slow-selling merchandise in the latest quarter. Sales in the period were up 1.3 percent.
Tern Makes Executive Hires
Taiwanese electric bike company Tern hired Matthew Davis as chief operating officer, Joe Hei as head of strategy and product management, and Venus Ang as director of finance.
Rossignol Group Releases Growth Plan
Targeting both significant revenue growth and category leadership in sustainable ski and outdoor products, the Rossignol Group unveiled a new strategic plan — called Ascension 2026 — that commits to investing $50 million between now and 2026 to achieve its goals.
Mountain Khakis Adds Rep Group To Cover Rockies
Mountain Khakis reported it hired Alpin Sales as its wholesale sales rep group covering the Rockies.
Online Shoppers Spend Record $11.3B On Cyber Monday
According to Adobe Analytics, online sales on Cyber Monday reached $11.3 billion, up 5.8 percent year-over-year growth, representing the biggest online shopping day.
NICS Background Checks Soar On Black Friday
NICS FBI background checks showed strong firearms demand on Thanksgiving week, culminating in 192,749 checks on Black Friday, a 2.8 percent increase from last year and the third-highest total, according to NSSF.
Udog Hires Global Sales Manager
Italian cycling shoe brand Udog has hired Luc Hall as global sales manager. Hall comes to Udog from Pinarello UK, where he held the position of brand manager.
Union Binding And Capita Snowboarding To Open European Sales Structure
Union Binding Company and Capita Snowboarding will open a new European sales hub in Milano effective January 1, 2023.
SportfishingBuddy.com Acquires Chesapeake-Angler.com
SportfishingBuddy.com, the online fishing resources hub, has purchased Chesapeake-Angler.com, a resource for anglers.
Feetures Announces CEO Transition
Feetures, the family-owned and operated sock manufacturer, announced that John Gaither, who has been the company’s COO, would succeed his father, Hugh Gaither, founder and CEO, effective January 1, 2023. Hugh Gaither will evolve his role as chairman of Feetures’ executive committee.
Vail Resorts Hires Chief Financial Officer
Vail Resorts, Inc. reported it re-hired Angela Korch as executive vice president and chief financial officer, effective December 22, 2022. She rejoins the company from CorePower Yoga
REI To Open In Marina Del Rey
REI Co-op will open a new store in Marina del Rey in spring 2023. The 24,000-square-foot site is the retailer’s 30th store in California.
