SGB Update Outdoor
American Outdoor Brands Reports 28 Percent Q1 Revenue Slump
American Outdoor Brands Inc. reported sales were down 28 percent in the first quarter ended July 31.
Zumiez Q2 Falls Short Of Guidance
Zumiez Inc. reported sales were down 18 percent in the second quarter ended July 30 and fell by the same amount in August. Second-quarter results were well below company guidance. Rick Brooks, CEO, said, “We are disappointed that our recent performance fell short of expectations and we are making adjustments to our merchandise assortments and managing expenses in order to improve near-term results.”
Smith & Wesson’s Sales Tumble 69 Percent
Smith & Wesson Brands Inc. reported a significant decline in earnings in the fiscal first quarter ended July 31 as sales dropped 69 percent. Mark Smith, CEO, commented, “As expected, our first quarter results reflected a return to a normal demand pattern at the retail counter for firearms combined with temporary headwinds from inventory corrections within the channel.”
Dovetail Workwear Hires National Sales Director
Dovetail Workwear hired Katie Copeland as national sales director.
Original Footwear Company Names CEO
Original Footwear Company, the maker of tactical footwear, named Mark Cavanaugh as CEO, succeeding Founder Kevin Cole, who will remain on its Board of Directors.
TrueTimber Names Director Of Licensing
TrueTimber, based in Inman, SC, appointed industry veteran Richard Howard as director of licensing.
MidwayUSA Appoints Vice President, Merchandising
MidwayUSA’s Jeff Larkin recently accepted the position of vice president of merchandising. The transition comes following merchandising vice president Ryan Fischer’s plans to retire later this year.
Target CEO Brian Cornell To Stay Three More Years
Target said Brian Cornell agreed to remain in his role as CEO for an additional three years. With Cornell’s commitment, Target’s Board of Directors eliminated its retirement policy, designed to initiate a discussion regarding the possible retirement of its CEO at the age of 65.
Slingshot Sports Hires Director Of Marketing
Slingshot Sports, the manufacturer of watersports equipment, hired Jonathan Thesenga as director of marketing.
La Jolla Group Adds Mountain Khakis To Brand Portfolio
La Jolla Group, Inc. announced it added Mountain Khakis to its brand portfolio. The company will provide strategic guidance, back-end oversight and support, including finance, planning, HR, IT, distribution, and logistics.
OBIT: Frank’s Sport Shop’s Moe Stein
Moe Stein, president and the iconic face of Frank’s Sport Shop in Bronx, NY, passed away at the age of 93.
Ammo, Inc. Moves Against Dissident Director
Following last week’s proxy challenge by its largest shareholder and chief strategy officer, Steven Urvan, Ammo, Inc. announced that it had placed Urvan and GunBroker CFO Susan Lokey on administrative leave.
Academy Sports Q2 EPS Exceeds Wall Street Targets
Academy Sports reported earnings in the second quarter came in comfortably ahead of Wall Street expectations. Comps declined 6.0 percent against challenging year-ago comparisons but improved sequentially versus the first quarter. The sporting goods chain reiterated its 2022 full-year net and comparable sales guidance.
Newell Brands Lowers Outlook For Q3 And Full Year 2022
Newell Brands, Inc. announced updates to its outlook for Q3 and the full year 2022, reflecting a more challenging than anticipated operating and consumer backdrop.
NSGA Sporting Goods Industry Hall Of Fame Elects Class Of 2023
NSGA Sporting Goods Industry Hall Of Fame announced its Class of 2023, which includes James Clifford Keen, Cliff Keen Athletic; Jeff Lynn, Dunham’s Sports; and Kent McKeaigg, OrderMyGear.
