SGB Update Outdoor
Forrester Sees U.S. Online Retail Spending Reaching $1.6 Trillion By 2027
In 2021, U.S. total retail sales, excluding auto and gas, reached a record high of $4.3 trillion, driven by U.S. consumers’ accumulated savings in 2020 and the stimulus checks that they received from the government. By 2027, Forrester expects total U.S. retail sales to reach $5.5 trillion and U.S. online retail sales to reach $1.6 trillion.
MidwayUSA Announces Merchandising Manager, Optics
MidwayUSA’s Matt Frevert was promoted to merchandising manager, Optics.
MidwayUSA Adds Merchandising Manager, Clothing And Footwear
MidwayUSA’s Matt Quintero received a promotion to merchandising manager, clothing and footwear.
Vista Outdoor Closes On Fox Racing Acquisition
Vista Outdoor, Inc. announced it closed on the acquisition of Irvine, CA-based Fox Racing for the purchase price of $540 million, with the potential for an additional $50 million earnout based on Fox Racing’s financial performance.
OIA Executive Director To Resign
Lise Aangeenbrug, executive director Outdoor Industry Association (OIA), will resign effective August 19 to join the National Park Foundation.
MidwayUSA Appoints Merchandising Manager, Hunting, Archery & Black Powder
MidwayUSA’s Jerod Smothers recently accepted the position of merchandising manager, Hunting, Archery and Black Powder.
Johnson Outdoors’ Q3 Sales Slide 5 Percent
Johnson Outdoors Inc. reported net profits fell 49 percent in the third fiscal quarter ending July 1. Sales declined 5 percent due to a 12 percent drop in fishing segment sales. Sales grew 32 percent in camping, 10 percent in watercraft recreation and 7 percent in diving.
GoPro Sees Flat Revenue Growth In Second Quarter
GoPro, Inc. announced sales that were essentially flat year-over-year in the second quarter ended June 30 but saw strong subscriber growth and said earnings topped expectations.
Fox Factory Increases Full-Year Revenue Outlook On Above-Plan Second Quarter
Fox Factory Holding Corp. reported earnings and sales came in ahead of company guidance and the company raised its sales outlook for the year. Sales in the second quarter rose 23.9 percent with a 28.1 percent increase in its Specialty Sports Group segment and a 20.9 percent increase in Powered Vehicles Group sales.
Yeti Lowers 2022 Outlook On Weakening Consumer Trends
Yeti Holdings, Inc. reported sales grew 17 percent in the second quarter but both sales and earnings were slightly below Wall Street’s consensus estimates. Yeti also slashed its earnings guidance and lowered its sales guidance for the year due to “macroeconomic conditions and the state of the consumer.”
Sturm, Ruger’s Sales Drop 30 Percent in Second Quarter
Sturm, Ruger & Company, Inc. announced that for the second quarter of 2022, the company reported net sales of $140.7 million against $200.1 million a year ago, representing a decline of 29.7 percent.
Compass Diversified’s Q2 Sales Climb 19 Percent
Compass Diversified Holdings reported net sales growth of 19 percent in the second quarter drove record quarterly earnings. The conglomerate raised its full-year outlook given the continued strong performance and PrimaLoft acquisition. “The second quarter marks our sixth consecutive quarter of record financial performance, which is a continued testament to the strength of our management […]
Winmark Announces Governance Changes
Winmark Corp. announced that Paul C. Reyelts had informed the company of his decision not to stand for re-election to its Board of Directors at its next annual shareholder’s meeting in April 2023.
MidwayUSA Appoints Director of Merchandising, Shooting
MidwayUSA’s Ryan Cokerham was recently promoted to director of merchandising, shooting.
JD Sports Appoints New CEO
JD Sports appointed Régis Schultz as its new CEO. Schultz was president of retail for Dubai-based Al-Futtaim Group since 2019.
